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To paraphrase Arlo Guthrie from the great Steve Goodman song City of New Orleans, “These trains got the disappearing railroad blues.”
Rail freight carloads (shipments) have fallen below the depths of The Great Recession and are seemingly disappearing.
In year over year terms, it looks just as bad.
Is it the EPA’s “War on coal?” Or is it a recession warning?
Coupled with the decline in construction, I would point to the latter: a slowing economy.
Whether it is a slowing economy or the “War on coal,” we do have a case of the disappearing (freight) train blues.
Or is it the “Disappearing Economy Blues.”
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