A GREAT(ER) DEPRESSION
Sunday, July 05, 2009
Courtesy
Mish, I bring you the "Railfax Rail Carloading Report" of June 27, 2009. These are the latest stats on the volume of goods on the railroads.
The declines are quite frightening... For example, freight in metals has declined 50% since 2007.
"THE PNEUMATIC CARRIAGE"
Friday, July 03, 2009
The world's first subway under Broadway, NYC, ran on compressed air. It was a gigantic pneumatic tube. And in 1870, it worked perfectly.
OPTIMISTS, EAT THIS REALIST DUST
Sores on America black and blue,
30-plus percent unemployment
in Indiana,
where American industry began and grew
into the biggest steelworks in the world -
where, for awhile,
canyons of molten metal ran wild,
like a planet forming new.
Did you know?
Gary, Indiana, Michael Jackson's
hometown,
served as the basis for the design
of Magnitogorsk -
Stalin's biggest steel town?
30-plus percent unemployment
in Indiana,
and don't forget California:
the state is broke and the specter grows
of hunger and a dust-bowl
in the valleys, where there's
30-plus percent unemployment.
Hope is low.
ECONOMIC RECOVERY?
I'd believe in the economic recovery if not for the fact that Japan's exports are 40% lower than last year. Fix that.
CLICK
