Latest Commentary: -
Latest Blog: -
  • Michael Rosen Michael Rosen
  • Investment Insights are written by Angeles' CIO Michael Rosen

    Michael has more than 30 years experience as an institutional portfolio manager, investment strategist, trader and academic.


Published: 01-20-2015

Mark Twain wrote in his autobiography that there are three kinds of lies: lies, damned lies and statistics. How true.

Revenue can be deferred (or accelerated), profits are easily manipulated, inventory gets adjusted: most data have to be scrutinized and dissected, and even then, can be misleading. But there are some statistics that just don’t lie, and the amount of goods hauled around the country is one of them. The reason is that no one in their right mind would haul goods from one place to another for the fun of it: real goods get moved around the country to generate real sales. It’s a pretty pure measure of true economic activity.

Trucking tonnage grew 3.5% in 2015, to an all-time high (see graph below). In the past week, we received some mixed signals about the economy’s strength, with weaker-than-expected numbers in retail sales and a decline in average wages. My guess, though, is that these are anomalies, noise, to use the technical term. As long as truckers are hauling more stuff, we can be sure the economy is growing. They are, and it is.


友情链: im电竞APP(电竞体育手机版入口)|im电竞app官网 | im电竞在线登录(电竞游戏竞猜软件手机版)|im电竞下载地址 | im电竞APP网址(电竞直播竞猜平台下载)|im电竞app官网入口 | im电竞app官方网站(正规的电竞竞猜app)|im电竞app最新版 | im电竞app注册(电竞体育彩票竞猜网站下载)|im电竞平台app下载 | im电竞app下载(体育电竞盘app)|亚博IM电竞App | im电竞平台app(最新电竞竞猜app)|im电竞客户端官网app |