The lemon 🍋 monologue.
— James Melville (@JamesMelville) November 9, 2023
Absolutely nails how propaganda and brainwashing are used by politicians, media & corporatists to convince the masses of indulging in mass formation behavioural patterns that serve to line the pockets of the rich and powerful.
pic.twitter.com/j8cfWYU9Kn
Monday, November 13, 2023
The Lemon Monologue
Beef is a threat to the pharmaceutical industry and the processed food industry
Beef is a threat!!
— Dr Shawn Baker 🥩 (@SBakerMD) November 12, 2023
Not to our climate or our health
But a threat to the pharmaceutical industry and the processed food industry
That is the real reason they are trying to eliminate it!! pic.twitter.com/MiNfoeUY2w
Got my meat today from Duchess Creek Farms, about 170 lbs of ground beef- I had most of the Chuck roasts put to ground beef. There’s one more picture of my freezer inside the house, and it’s got a bunch of steaks and soup bones in it 😊😊😊 pic.twitter.com/caZXjNKo5k
— Wejolyn 🇺🇸 (@Wejolyn) November 11, 2023
Sunday, November 12, 2023
Men with 23 hours of sedentary activity per week are 64% more likely to die of heart disease
I better get my ass up and at 'em.
— Dr. Vipul aggarwal (@drvipulaggarwal) November 13, 2023
"Red Wedding of Freight Volume Causing a "disintegration of globalization"?
freight volumes are one of the more reliable shadow indicators of a coming recession. --Peter St. Orge, Ph.D.
Maersk is widely viewed as a global trade barometer. --Peter St. Orge, Ph.D.
Soaring bankruptcies, crashing volumes, and mass lay-offs in shipping and freight -- one of the most reliable indicators of recession.
— Peter St Onge, Ph.D. (@profstonge) November 12, 2023
Prices across the eight major shipping routes have plunged by half this year, going from $3,000 per container to just $1,400. One analyst… pic.twitter.com/2J6wq4dTP2
A shipping analyst, Freight Waves, came out with a sobering report showing soaring bankruptcies among trucking and logistics firms as freight volumes crash. In an age where many of us are skeptical about government statistics, freight volumes are one of the more reliable shadow indicators of a coming recession. And keep in mind, we are just 6 weeks from Christmas, meaning this is usually the peak season for shipping. Freight Waves CEO listed out the Red Wedding level of carnage:
30,000 employees out of work when trucking firm Yellow went down, followed by the bankruptcy of $4 billion dollar, VC-backed freight brokerage Convoy.
Air Cargo operator, Western Global went down with $500 million in debt.
Freight broker, Surge, $200 million in revenue slumped.
North Carolina trucking company, Freight Works, took out 200 truckers.
Texas-based, SEL, took out another 125.
California-based and family-owned, Certified Freight, took down 157.
40-year-old Montana trucking company, Meadowlark, left hundreds more jobless.
And Florida-based, Flagship, took out 455.
The list goes on from Vermont to Miami to California to Pennsylvania.
Now, that is just the bankruptcies. The layoffs are on top.
Maersk just laid off 10,000 workers and cut capital expenditure by $3.5 billion. In other words, they'll be running down existing capital. They did this because revenue fell by 50% among plunging freight costs and ships running half empty. Maersk is widely viewed as a global trade barometer, and the layoffs were so big they drove the Eurasia Review to fret about the quote "disintegration of globalization." The prices across the 8 major global shipping routes have plunged by more than half this year, going from 3000 per 40 ft container to just 1400.
Maersk's shipping rates are down 58%.
China's Costco is down 60%, and Japan's Ocean Network Express is down 62%.
A report by Drewry forecasts the entire industry will lose $15 billion next year.
Now this is feeding directly into trucking, which is the last mile. In fact, going by employment, trucking is doing 3x worse than the 2000 recession which was itself much worse than the 2008 recession still not a recession though until Paul Krugman says it is.
"So what's next?" brought to you by Unchained.
For shipping, the near term is pretty bleak with falling prices running into continuing inflation. Some of this was inevitable after the epic pandemic-era run-up. Remember, it was just 2 short years ago that newspapers were jammed with stories of blocked supply chains, Americans driving to Mexico for baby formula or cruising eBay for used washing machines, lest they wash their clothes in a creek. At one point, the Baltic Dry Index, which measures the cost to ship raw materials, hit almost 12,000, that's about 8x normal, that pulled thousands of new workers into trucking and shipping. So Walmart at one point was offering $110,000 starting pay for truck drivers, and it launched dozens of major containers that are only now coming online. That overhang is taking years, so freight analyst Alphaliner estimates shipping capacity will increase 8.2% this year, about 6x faster than demand even as the industry loses billions. In short, shipping says a fairly brutal recession is incoming, while lockdowns once again have whipsawed an industry that millions depend on.
As a recession intensifies, expect more pain.
ALERT: The labor market is weakening
ALERT: The labor market is weakening
— Game of Trades (@GameofTrades_) November 11, 2023
Job openings have been collapsing
This type of a decline have occurred 3 times:
1. Dot Com bubble
2. Financial Crisis
3. C19
Each instance ended in a sharp economic downturn
The WORST part: This is happening when the consumer is running… pic.twitter.com/6vCC2djGBv
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