American Railroad Assoc. published railcar loadings for week ending 2/21. Intermodal loadings continue to drop. Also note that BDI has been falling all week.

Last year US corn farmers were shipping corn in containers because bulk carriers were too busy with metal ore shipments. Maybe this year the ore shippers could switch to containers too - the price is right. Also note that US intermodal rail loadings have nose-dived. That's great for US importers receiving shipments at the ports of LA and Long Beach where those port authorities are "paying" shippers to use railroad cars.

2/23/09 Year-over-year changes in Chinese retail sales data showing steady decline. Could be the after-effect of Olympic games. Or cheaper gasoline - numbers are not adjusted for inflation. Sharper declines might be seen in wake of many factory closings over past month effecting personal income.

January Port of Los Angeles Container Traffic

Total loadng Year-Over-Year dropped. Loaded outbound containers plunged compared to last year.

Key Indicator for China

Port of Los Angeles In-Bound container count. Due any day now. Look at the y/y change.

Pakistani Taliban Leader killed by CIA missiles

Who was killed?
Baitullah Mehsud and supporters (30 killed). Identified as al-Qaida and Taliban fighters.

How were they killed?
2 missiles launched by a CIA drone

Where?
South Waziristan, Pakistan

Who confirmed attack?
Pakistani intelligence official and local residents

How were the identities of the made?

Restaurant sales as a percent of total Retail sales has soared this year. What does this indicate? What about inflation?

Iron and copper ore shipments to China maybe increasing as seen by an increase in BDI. But the Container Index and the US Intermodal Railcar loadings show that finished goods (shipped in containers and trailers) are not moving - especially not in the US where the world's best consumers reside.

Here's a chart that confirms that automation and US job leaks to other countries are reducing the number of hours available for US workers to work. There are no new jobs available in the US. Forget a jobs stimulus plan just send the money directly to families. Do not worry about the value of the $ the rest of the world will have to accept them - we're the shopppers of last resort.