Majestic sight: 292 Union Pacific engines idled in Arizona Desert.
“Consumers just don’t seem to be showing up….”
“Weaknesses in energy and manufacturing, as well as world economic softening”
The goods-based economy swoons.
“A drawdown much like the one we saw in 2009 and 2010.”
Real Economy not doing very well, apparently.
Shipments of coal are drying up too.