I hate to be the bearer of bad news, but from what I can tell the authorities are lying and we are back to 2008 economic conditions. One of the best indicators of the economy are the Class 1 Freight Railroads here in North America. Just today I am reading that Norfolk Southern has furloughed conductors:
The last time the Railroads furloughed conductors was back in 2008 when shit hit the fan, so this is a bad omen as far as I am concerned. We can thank Obama for killing what was left of the American economy when he killed the Coal industry in his first term and then when he killed the budding Natural Gas industry in his second term via the secret deal that was made with Saudi Arabia in September 2014. That deal killed the budding Natural Gas industry in America and although it did give the Middle Class a break on gas prices at the pump, now we see the gas prices going back up again.
The economy is now out of their control. It’s free falling before their very eyes and they can’t figure out why they don’t have control. In their hubris, they became blind to the fact that the world is no longer a unipolar world.
The Class 1 Freight Railroads are a real-time barometer of the Economy. From what I can tell, it ain’t looking good.