Trucking Economist Predicts “A Lot of Trucking Failures” Coming Soon Due to Pandemic What do yall th

I don't know.

When the sun comes up today about 7 millions minimum should be filed for unemployment. We have 18 millions filed already. (Arkansas 66,000 out of work in 3 weeks, they pay anywhere from 81 dollars to 457 a week depending on what their employer paid in and how long they earned at least 3000 dollars wages the previous 18 months. In addition US Treasury forced Arkansas to add Uber work, gig work and side jobs 1099 type stuff to unemployment for the first time.) Uncle sam pays 600 dollars on top of Arkansas state UI Check each week for 4 months solid.

In our Consitution we have a balanced budget law. Which means after expenses each year we have surplus cash. Every year. So far it stands at 177 million. It will support one payment of 457 dollars one week UI only for 387000 or so people in Arkansas OR... put another way... the 66000 will have about 6 weeks UI before Arkansas is out of money. (Employers paid into a state fund for UI, But I am not privy to that data amount) If you added about another 38000 unemployed this week to the 66000 then that's pretty much 100,000 out of work of about 1.2 million people, about roughly 37000 are high school seniors this year with no graduation ceremonies. A ghost 2020 class now that our school year is finished. Closed.

Thats only those counted as unemployed. I am medically retired under SSA meaning I am not counted however I can work as a crew boss, heavy equiptment man etc part time. If I make enough then my income is balanced towards wages brought in by Uncle Sam. The system does work. Im still not counted. So I refuse to participate in the current CARES Act that is spilling 2.2 trillion dollars into our Economy as fast as they can possibly do it. I would love a thousand a week free. But no. Thats not me. I managed to get out of debt the hard way versus medical billing. My share of about 130,000 spent by my insurance in the last 16 months was pretty stiff. POOF. (Costs would have been far higher if there was no way to do these surgeries that restored independant living.) 2.2 trillion. If you had 2.6 trillion enough to keep 60 million retirees on SSA after 65 until 2034. After that year benefits are reduced 26% unless congress adjusts the withholding from all working adults each payday at least double the 18 or so dollars a week taken for that.

We are trying to spend that 2.2 trillion in less than a month. Most of it imaginary money by computer power backed by the Treasury.

Now.

JP Morgan just informed me last night that they are not taking on any loans other than Paycheck Protection to employers facing destruction or firing of workforce. They are not underwriting any more lending. 30% of renters have failed to pay rent this month. Courts are closed anyway so the evictions stand at at least 800000 to several millions that will be processed in the future once the CARES Act Ban against Evictions open up. Unless for example you were in Maryland and plead that you have no Money due to being sick from Covid19, you would have to be proving that on paper to the state before MD will protect you from eviction. With everything closed on what evidence can you find on paper at all from your HR dept which is also closed to show the state that you have no money for Rent and should not be evicted. 9 states are like Maryland more or less.

Jimmie Mae following Quicken's comments know now that there is about 60 billion in default on the housing market and we think from that data about half of all homes in the USA (Single family homes.... btw) are in default. They can either be evicted or forebarence or capitalized. Or the mortage company like Quicken will have to make the payments themselves to those who own the notes as a Market yield paying product sold to investors in blocks of so many mortgages. All those banks must then fail. There is about 7100 in the FDIC system and half that or more in the NFCU system (Credit Unions backed by their own depositors rather than insured by the Govt as FDIC is)

In about 6 months or less.

There are only about around 150 million working age adults in America. We think there is about around 60 millions out of work, home etc. not yet able to file unemployment. The rest stagger on in the grocery store stocking shelves at minimum wage. Nurses in Sinai in Detriot MI Quit after 3 weeks of combat style work in their ER which carries 110 beds each night. One nurse every 26 patients round the clock 24 hours at a time or more. They just quit last night and were sent home. Other nurses were put into that ER to keep it open.

Other hospitals will expect failures when the staff are at the breaking point around this week give or take two at most.

Cemetaries are days behind in digging graves. Its better to cremate and hand the urn to the family. If you can wait a week or two for the crematory burning through the night to get to your relatives body in a reefer trailer. I suppose bodies will start to be shipped west to other crematories that just got permission to begin burning through the night (Air pollution standards are lifted for night work by Uncle Sam) which isnt that much just a bit of So2

The Economy we have, I only need the store for just enough to keep the larder going against a one month lock in. That is the other reason Arkansas Governor did not close the state just yet. It would have put another 200,000 onto the unemployment line at the max 457 rate weekly plus the 600 CARES payment. Some of my stores that I visit for example ammunition or hobby stuff or whatever it is outside of just gas and food are still open. But generally by appointment only as is the bank.

The Bank drive thru. We have spent some time waiting in a mob of cars yesterday and endless strings of people shouting through the speaker that they are withdrawing 1200 dollars in cash now. Never mind that Uncle Sam could take weeks or months to pay them. The money is there and they will spend it now. So the bank is pulling much cash from Little Rock Reserve that holds cash for this District as a Reserve Facility. They have plenty of cash, never run out of it either. Pallets of cash. Mountains of Pallets. Everyone wants to withdraw a minimum of 1200 this week. The rest of their budgets can burn for all they care (And probably are....) Bank might as well order up more cash by the truckload when Uncle Sam does pay me and everyone else that money. Be a whiplash effect on the bank.

The Economy after all this? Its finished. April 25th is the peak of our killing in Arkansas and numbers should improve to June 1, we will be reopen at the courts, and businesses etc by May 10th at the latest provided nothing else happens.

If for some reason this Covid19 rages as the hot spots migrate westward across the USA from NY, NOLA, Illinois, Indiana etc and we stay closed for months? Then thats it. No more stores. We will be strictly online. If there is anything left to order online and ship to door. If you think being a delivery man hustling boxes is busy now... you wait. You would quit then later this year. You will be sick of it.

Fortunately there will be a percentage of that 60 million willing to take your job at 28.00 a hour as Mr Brown running packages. Or bales rather of toilet paper direct from the Georgia Pacific Mill making it.

Spain's Government has decided to implement a UBI, Universal Basic Income. Call it 1000.00 a month to all Spanish Adults of legal age on up. For life. Permanent. You can work if you like or not. It does not matter. Its a new form of income. But they would be the first to implement it permanently. (Most people will prefer to work and earn more for a better living...) You would have to accept a situation where the debts against the Treasury deficit does not matter anymore. You might consider or remember the old Jubilee System where every 49 years or so, all debts are erased. Zeroed. Including that of the Nation. Zero. We have not had one of those for a few thousands of years. But until the time of the Romans, there was some form of zero debts across the world then in existence at a regular basis.

If America suddenly thought well.. There is no debt or a deficit to pay back then there is no problem. For that to work, people will have to accept enormous losses on paper and start over with with they already have. And many already have nothing. There is only one way up from there.

 

How to succeed in Trucking, first pay off everything you own, including your house, second save up enough to pay cash for a brand new Truck and Trailer, third have at least $30k in savings to keep cash flow moving, fourth save at least another $30k for repairs. Fifth get all your own customers, and don’t haul for less than $4.00 pm. Guaranteed Success. Can’t go wrong. Yep that’s the way to do it. I heard Kevin Rutherford explain it all one night on the radio. He’s a smart Guy, knows all about Trucking and how to make money.

 

Isnt he the one forced off the road after one of his engines grenaded?

 

That article didn't say anything we don't already know.

 

Walk away from that #### and don't look back. The hole is only going to get deeper. Make sure the truck is clean when you give it back, document the return with pictures and video, then tell them to eat a bag of dicks.

 

I kind of doubt that it travels in pipes. More likely a Chinese "tourist" spread some cheer around before disappearing into the night.

China has been doing a lot of saber rattling since our president pissed in Winnie the Pooh's Cheerios over trade.

Threatening EMP strikes Chinese expert says 'viable option' to attack US warships with EMP in South China Sea

Threatening to cut off the supply of pharmaceuticals—which by the way, the executives and politicians that allowed this to happen should be strung up on poles. US and China in war of words as Beijing threatens to halt supply of medicine amid coronavirus crisis

It's well past time to close our wallets to ALL Chinese products.

 

If you had all the money aside why the heck would get into trucking???

 

I think this coming economy may greatly help us along with this new motto because many Americans won't be able to afford anything but food.

98% of the Chinese Krap people buy is impulse non needed items because its Cheap.

 

Now Im hearing that between 60 - 78% who get it wont have any symptoms.