Tag Archives: American Trucking Association Tonnage Index

The real value of the stock market is positively correlated, over time, with the amount of freight hauled by the nation's trucks (in other words, the physical size of the economy has a lot to do with the real, inflation-adjusted value of the economy) and the latest numbers (see chart) strongly suggest that we are not in a stock market bubble.

Economic inflection points are seldom obvious but if we take the time to analyze all the data, there are at least five indicators that suggest another U.S. recession is not imminent. [Take a look.] Words: 920