“MY THESIS IS THAT WE’RE IN THE CRUX OF THE CHANGE IN WHICH THE
INDUSTRIAL ECONOMY ... IS IN THE PROCESS OF DOING A FACE PLANT, BUT AS IT DOES, IT HANDS THE BATON TO THE CONSUMER ECONOMY. AND THE CONSUMER ECONOMY— NOT ONLY IN THE U.S., BUT IN THE WORLD—HAS ONLY TO START
A LITTLE BIT OF A WALK, A JOG, BECAUSE THE CONSUMER ECONOMY IS FOUR TO FIVE TIMES THE SIZE OF THE INDUSTRIAL ECONOMY IN THE UNITED STATES.”
“My thesis is that we’re in the crux
of the change in which the industrial economy ... is in the process of doing a face plant,” he said. “But as it does, it hands the baton to the consumer econ- omy, and the consumer economy—not only in the U.S., but in the world—has only to start a little bit of a walk, a jog, because the consumer economy is four to five times the size of the industrial economy in the United States. And so this is a period in which there’s a higher amount of risk because there has to be a transition, but I think it could be very
good news for people as we see better and better things coming out of the economy.” In an interview after his address,
Broughton said the pace of that transi- tion “determines what the next quarter or two’s going to look like.” Economic and transportation
growth during the industrial recovery has been mostly led by e-commerce, intermodal and new hydraulic fractur- ing (“fracking”) and horizontal drilling techniques that have made it possible to reach enormous shale oil and natural
gas deposits. Billions of dollars have been invested in pipe, concrete and trucks. Eight refineries and 22 poly- ethylene plastic resin plants have been constructed. These shale deposits exist all over the world. The largest, in fact, are in China, he said. Other countries are behind the United States in using these techniques, but they will catch up in the next five to 10 years either by licensing the technology, by hir- ing American firms, or by stealing the knowledge. The techniques have resulted in
SPEED LIMITS. WEIGHT LIMITS. FUEL COSTS.
MORE NUMBERS ARE THE LAST THINGS A TRUCKING COMPANY NEEDS TO WORRY ABOUT.
More than 40 southeastern trucking and logistics companies rely on Bell & Company for expert accounting and financial advice. After all, we have unique firsthand trucking experience, and we’re dedicated to helping you grow your profits. How can we put our 150 years of combined experience to work for you? Call us today for a free consultation.
bellandcompany.net / 501.753.9700 22 ARKANSAS TRUCKING REPORT | Issue 3 2015
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