The economy ever since 2006 has been "Meh."
When historians and academics look back at Obama's economic performance, they'll say "meh."
We never left the recession as far as I'm concerned and with economic growth BARELY outpacing population growth our increases in standards of living has been "meh."
And since "meh" isn't exciting, I moved onto other things.
But then I hear whispers and rumors, sayings and speakings, and an increasing amount of them are about the economy. And the economy is no longer "meh" like it has been since 2008, but things are not looking too good. Oil prices are down (not just on supply concerns, but demand concerns). The Baltic index is down, showing a global slow down. And then a little birdy in the railroad biz I know said to look at rail car traffic. And 2016 it is very much down.
Now like I said before, I really don't care much about economics anymore. In part because there's nothing new. In part because it's quite a simple social study and not the complex science it's self-promoting whores make it out to be. And in part because the majority of people prefer their parasitic consumption of free stuff over the long term viability of the economy (and their childrens' futures). And so instead of banging my head against the wall, I just go pour another drink, hike another mountain, and buy some more ammo.
But this chart is interesting because (as Alan Greenspan was famous for measuring) rail road car traffic is a statistical measure than can't be fabricated or manipulated by BEA economists. It's a concrete measure that (like the railroad tie replacement Alan greenspan would measure) can be used to measure true economic production and growth in an economy no matter how violently Washington DC economists rape GDP figures.
I still don't think there's going to be a great economic collapse like 2006-2007. The world needs us too much and our reserve currency will protect us from most of the shocks. But don't be surprised if we have a little slow down like we did during Bush's final years in office....just expect the media to claim it's a "minor economic slow down" and not "the worst economy in 50 years" because Obama is in office.