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Pragmatic Capitalism

Practical Views on Money & Finance

‘Market Indicators’

What is FedEx Telling us About the Global Economy?

Everyone always thinks that Alcoa kicks off the earnings season, but I don’t see it that way.  The real earnings season kicks off with FedEx who usually reports well in advance of Alcoa and gives us a much more meaningful look into the state of the economy.  So what’s the global bellwether telling us?  Here… Read More

Rail Traffic: Economy Continues to Soften

More weakness in this week’s rail traffic report.  The AAR reported a -0.3% reading in intermodal.  This is the second consecutive negative weekly reading.  This brings the 12 week moving average down to 1.3%.  That’s about in-line with the consensus Q4 GDP predictions and indicative of an economy that is growing, but just slightly. Here’s… Read More

Rail Traffic is Slowing With the Economy

Rail traffic is taking a turn for the worse in recent weeks as the economy appears to be slowing even further into Q4.  The latest reading on intermodal traffic came in at -1.1%.   That brings the trailing 12 week average to 1.65%.  The US economy appears to be just barely treading water at this… Read More

The Wall of Worry in Inflation

There’s a popular saying that stocks climb a wall of worry.  But one could also say that bonds also climb a wall of worry.  A wall of worry over inflation.  For years (really decades), there have been persistent fears of surging inflation.  And those fears just never come to fruition.  That doesn’t mean they can’t… Read More