Tue, 1 October 2013
Trucking - The Lifeblood of the Economy with Chris Burruss, President of the Truckload Carriers Association
Joining me on PowerTalk today is Chris Burruss, President of the Truckload Carriers Association and we talk about the trucking industry, what its responsible for, and what the key issues are facing the industry.
When most people talk about the economy, we tend to think of manufacturing, retail, restaurants and other industries that require goods be they finished products or key parts and assemblies.
We all know we need these, but how often do you think about how products and parts get where they need to be?
No deliveries means there is nothing to sell and nothing to buy. How does our economy work in that environment?
Even before I started my investment newsletter PowerTrend Profits, as part of near 20 years keeping tabs on the U.S. economy as an equity research analyst on Wall Street, I kept an eye on transport activity -- trucks, rails and intermodal activity. For those not familiar with intermodal, it’s when something is shipped by truck to rail or rail to truck.
Think about it, if goods are not getting shipped to and fro it means factories are not producing and demand from the consumer or business is weak. That means trucking is a key barometer of the domestic economy. While that was true decades ago, it’s even more true today given the shift toward just in time manufacturing.
Simply put if trucks are not rolling, the economy is not moving. That’s something think about every time you drive down I-95, 40, 70, 80, the 5 or another interstate highway. If you don’t see many trucks, don’t be shocked if the economy isn’t that strong.