In keeping with the green shoot theme that investors are obsessed with these days we present you these green shoots courtesy of Gluskin Sheff:
These YoY numbers, as of last week, hardly paint the picture of an imminent
recovery:
• Raw steel production (-47.3%)
• Lumber production (-32.6%)
• Railway traffic (-20.1%)
• Electrical output (-12.9%)
The white collar banking economy appears to be stabilizing thanks to the Federal Reserve’s rescue mission, however, the blue collar real economy is as weak as it ever was.
![Cullen Roche](https://pragcap.com/wp-content/uploads/2022/01/Headshot2022-1-144x144.png)
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.
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