FedEx CEO Says Global Recession Coming

Discussion in 'LTL and Local Delivery Trucking Forum' started by Waterman_99, Sep 16, 2022.

  1. Lennythedriver

    Lennythedriver Road Train Member

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    One thing I’ve done this past year is strictly make my own coffee on the truck and cook on the truck. And the savings have been tremendous. Especially with the cost of everything rising. Plus I eat much better, I enjoy cooking as it gets my mind off driving for a while, etc. i’m probably saving about $600 a month as well.
    It’s gonna get ugly for all of us though if this recession runs deep. Even company drivers. Less loads, more sitting, the era of having 100 jobs to pick from in an instant are probably gonna disappear, bonuses are gonna go away and stuff like that.
     
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  3. Bakerman

    Bakerman Road Train Member

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    The one thing that has not gone up, the price of beer.
     
  4. Eight Omens

    Eight Omens Light Load Member

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    This right here is a big reason I am getting back into driving. We both get VA and she gets SS. We have all our bills paid and needs met, but savings is extremely difficult. I suspect in 1 to 2 years the housing prices will come down while interest rates are high. We will either have enough cash on hand to outright purchase or qualify for a VA/FHA loan. We can then put large principal payments toward the house each year or grow savings to pay it off entirely in a few years. Of course, that is all speculation and the best way to go will only be able to be determined by the interest/price rates at the time. I also suspect Truck and Trailer prices (particularly used ones) will crater. It will be a huge decision at that time to consider purchasing equipment and leasing on to a company or paying outright for a house. For now, it is get back to work and come along for the ride no matter if it's a bumpy one or smooth surfaces.
     
  5. Opus

    Opus Road Train Member

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  6. basedinMN_

    basedinMN_ Medium Load Member

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  7. AModelCat

    AModelCat Road Train Member

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  8. Old_n_gray

    Old_n_gray Road Train Member

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    Beer when up today in western Pa. 15 pack of Bud went from $11.99 to $14.79.
     
  9. Lennythedriver

    Lennythedriver Road Train Member

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    Yeah like most NFL football games beer is running between $12 and $18. It really is getting insane. I don’t know where the government comes up with this 8% inflation numbers. It’s honestly between 25 to 30%. You go into loves or pilot and grab a couple things like a couple snacks and a drink and it’s like $15-$20. Go to Subway and get a sandwich chips and a drink and it’ll set you back around $20 now. It’s crazy.
     
  10. AModelCat

    AModelCat Road Train Member

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    They keep changing the definition of inflation.

    You can't tell me that reducing the volume of a product and selling it for the same price as the previous volume isn't inflation. Yet the government denies that it fits the definition of inflation.
     
  11. Lennythedriver

    Lennythedriver Road Train Member

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    Well most Americans look at it in every day terms of how it’s really affecting their lives and I don’t know how they come up with these bogus figures either. This is just one Lemans example. I bought the same package of chicken for about the past seven years. Same way, same brand from the same #### store. It’s always been between six and seven dollars for this little packet that I buy. It now runs between 13 and $14. That’s a 100% markup over the last 18 months. So for them to say that inflation is only 8% that means something out there that we consume on a regular basis has had to have a significant price drop, correct? Name one thing that had a significant price drop that we consume on a regular basis? Lol that’s 100% markup on chicken. Beef is probably getting up somewhere in the neighborhood of 150% over what it was two years ago. Heating costs have went up 50%, in fact energy across the board has gone up 30%. And we’re not even counting gasoline or Diesel. Why do they think we’re such fools? Were the ones out there spending. Some of us by the same things every week at the grocery store and have for years. I’m single so when I used to check out and will be $75 and now it’s $138, it doesn’t take rocket science for me to figure out something is going up more than 8% that they claim. If it was 8%, I’d be paying $82 for that not 138. Lol
     
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