This hasn’t happened since the Financial Crisis.
Transportation Recession exacts its pound of flesh.
“Overall shipment volumes are persistently weak.”
The pain will continue, with many more false-hope ups followed by brutal smack-downs, and more carriers cracking under their debt.
Overcapacity meets broken promises of soaring demand.
It “shatters the complacency” that TBTF carriers “are immune to failure”
“The only word to describe the Dallas housing market is ‘frenzy.’”
Years of painfully slow growth slashed in one fell swoop!
Goods economy sinks, drags down trucking & railroads.
It’s already in the works and goes far beyond subprime.