Re: U.S. Rails Skid Into Bear Market on Triple Whammy Cargo Slump
Author: Earwig
Date: 06-30-2015 - 12:06
Can't speak for railroads and the Bear Market.
However, where I live, the US economy is not doing well.
General Electric Motors just shut down a local mfgng plant, laying off around 100 people, blue collar with decent wages. The plant is totally devoid of employees, the parking lot... empty. Did note today that the last person out forgot to turn off the lights.
Three kinds of wage earners live in my town... professors/staff at a local state university, some small independent businesses who may be doing well, CPAs, lawyers, etc, and the rest... well, they live on strip mall/franchise auto service jobs; which I don't think pay living wages. At least not the kind of lower middle class wages my father earned back in the 50's/60's.
Somebody, somewhere may be enjoying an economic resurgence, but it sure isn't here.