Trucking industry undergoing 'bust' cycle in post-Covid economy, says FreightWaves' Craig Fuller

Craig Fuller, Freightwaves founder and CEO, joins 'The Exchange' to discuss freight rejections hitting all time lows, challenges in the goods economy contributing to broader economic weakness, and navigating uncertainty from the SVB fallout. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
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[@calvinmitchell6381]

The trucking industry is one of the best ways to judge the current state of the economy.

[@Bharat67382]

Exactly .. the fall starts with trucking industry

[@ceasarwright7567]

Trucking has been in crisis mode for a while now. Spot rates have been on decline for about 1 year now.

[@heyaisdabomb]

The trades industry has been in crisis for a year also. Was doing 200k to 300k in sales per month last year across our company, went down to 3k in sales per month starting August of last year. It's just DEAD out there.

[@calvinmitchell6381]

@@heyaisdabomb It's getting bad. People are struggling with what's going on. Consumer debt is abnormally high. The stock market is a gamble as its not reflecting reality. If the news media reported the actual facts of the economy, then the people could start preparing for the recession that has obviously already started.

[@vicpetrishak7705]

Does Cocaine deliveries count to the WOKEHOUSE ?

[@JasPlun]

Brokers are also ruining the business. They get large chunks of money while the trucker barely gets enough to pay for fuel. The brokers pocket a hell of a lot more money and they do not have equipment expenses, fuel costs, and other issues truckers face its completely messed up. I do not understand why so many continue to do it. If truckers would say that is it I am working elsewhere things would change fast.

[@christiand.7404]

Ive been driving for 10 years and in those 10 years, I haven’t seen the industry being that slow. Maybe its for the best so that this recession can filter out the bad apples.

[@trainsandlocomotives]

Can also filter out the good apples as well

[@ceasarwright7567]

At Current 1 $ a mile price it will filter out bad apples good apples and the entire barrel.

[@sergserg2618]

Big companies also contributing to cheap rates by hauling it

[@geton411]

Self driving trucks is what they’re working on you all will be replaced

[@philipbond4088]

Waited 9 hours for watermelons in Florida and got loaded only after i chased down the forklift driver, who then sent me to a field where my truck got stuck in sand. I was so tired of sitting in the truck that i started shoveling the sand out with a shovel i found nearby. Couple of cows were starring at me...

[@edward.abraham]

Great video, I was a trucker and really didn't know much on growing my earnings then i was working. Truckers grappling with the difficulty of meeting essential expenses often encounter this situation due to inadequate savings during their working years. The decisions taken in readiness for retirement carry extensive consequences, as demonstrated within my own family dynamics. Differing investment approaches yielded disparate results. Guided by a financial advisor, I'm currently retired and still earn monthly from our investments.

[@Kim.beneteau]

Growing money is not the same as keeping it there is a reason why investments aren't well taught in schools, the examples you gave are well stationed, the market crisis gave me my first millions, people shy away from hard times, I embrace them.

[@james.atkins88]

This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?

[@edward.abraham]

Not at all, having monitored edge my portfolio performance which has made a jaw dropping $573k from just the past two quarters alone, I have learned why experienced traders make enormous returns from the seemingly unknown market. I must say it's the boldest decision I've taken since recently.

[@rebecca_burns14]

@@edward.abraham I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.

[@edward.abraham]

@@rebecca_burns14 I'm guided by Mary Onita Wier. An experienced coach with extensive financial market knowledge. While you can consider other options, her strategy has yielded positive results for me. She offers valuable insights, including entry and exit points for the securities I concentrate on.

[@idahoreactionary2721]

I'm a trucker. Owner operator, 20 years in the industry. Probably going to have to hang it up soon over this. This is all an effect of stimulus. Everyone spent their stimulus money on consumer goods, creating a sudden need for trucks. Rates went through the roof. Every trucker with a pocket full of stimulus bought a truck to partake in the gold rush. Now stimulus is gone, folks are broke, currency is devalued via inflation, fuel and expenses are high, freight is dry, and there's way too many trucks on the road. Rates went from 5.00/mi to 2.00/mi. Fuel went from 2.00/gal to 5.00/gal. Lesson to be learned... government needs to stay out of the economy. Can't make everyone rich by handing out money, because "rich" and "poor" are relative terms. All the government did was devalue the currency and mess up the supply chain.

[@Zero11_ss]

This isn't a stimulus issue and stimulus payments weren't anywhere near enough to buy a truck. This is a result of interest rates being too low for too long and now the sudden increase is killing demand for a lot of things and the other effects will keep wages down - which is what the real goal of these policies is. They want to keep wages from ever rising. Same reason both republicans and democrats don't do anything about illegal immigration even in the years where they have full control of the government.

[@idahoreactionary2721]

@Zero11 It absolutely was. Stimulus was plenty enough for a down payment on a truck. And all that stimulus being blown on stuff that needed to be hauled by truck created a temporary, unsustainable "gold rush" condition in the industry. Rates were 5.00, fuel was 2.00/gal. Now rates are 2.00, fuel is 4.00/gal. A used truck could not be acquired in 2021, so many had been sold. Trucks that had previously been worth 30k were suddenly worth 100k. Yeah, stimulus destroyed the industry.

[@idahoreactionary2721]

@Ken Havens I don't know how much more clearly I can explain the current state of my industry... The trucking industry can only do its best to accommodate the whims of the consumer. The sort of fluctuation in consumption caused by massive governmental meddling in the economy can't be quickly accommodated. First, there weren't enough trucks to move all the junk people were buying. Freighters from China were clogging ports waiting for trucks. So, yes, rates went way up to attract capacity into the industry. Everybody (and their brother) who had ambition, in the industry, used their stimulus to buy a truck. Used trucks dried up, the prices went absolutely insane. To address your deleted comment, trucks aren't 200k-300k. Used trucks range from 8k to 100k. Stimulus was plenty sufficient to give one a down payment and a few bucks to get started. But it was not a sustainable condotion. When stimulus stopped, so did the increased need for capacity. Now, in order to regain stability, thousands (or tens of thousands) of small trucking outfits need to fail to tighten capacity. I've been running 28 days a month, and haven't made enough to cover my bills in 6 months. Average monthly net has been 500.00-3000.00. I've used up all available credit waiting for conditions to improve. Another month or two, I'll be forced to find another way to provide for my wife and five children. And, my story isn't unique. Lots of American truckers, who kept this nation going through all the covid insanity, are now unable to make ends meet. Think inflation is bad now? Wait till the bottom falls out of trucking, and we give up. Anything moved by truck (which is everything) will become exponentially more expensive.

[@dianawitty9628]

@@idahoreactionary2721 I think two things can be true at once…I hope you’ll both consider the others pov. I feel for anyone going through hardship. Take care of you and yours ☮️

[@fjskj6529]

Does the current situation reflect that of the 2007-2009 recession?

[@notinterested9097]

Wait till California only allows electric big rigs in its state and the price of shipping to California skyrockets . It is going to be really really really bad .

[@peterwilliams6361]

Is this a good time to buy stocks/crypto in the Europe? I know everyone is saying stocks are at a discount and all, but just how long will It take for us to recover, obviously there are strategies to manoeuver in this present market but these strategies doesn't come common to the average folk, or am I better off putting my money elsewhere.

[@DailamiPuang]

I'll suggest you find an investment coach or someone with market experience before the 08' crash to guide you amidst this inflation.

[@peterwilliams6361]

@@DailamiPuang I agree, that's the more reason I prefer my day to day investment decisions being guided by an inv-coach, seeing that their entire skillset is built around short & long term holdings for profit realisation, coupled with the exclusive analysis they possess, it's near impossible to not out-perform. I've been investing with a coach literally for 4years, and have accrued approx. $1.4m in net-profits thus far.

[@DailamiPuang]

@@peterwilliams6361 congrats. this is huge! mind sharing info on the coach that assists you? cos i’ve got a bunch of stocks that keeps tanking and don't know if its best to just dump amidst ongoing inflation.

[@peterwilliams6361]

@@DailamiPuang I am guided by *Robin Brezik* I found her on a CNBC interview where she was featured and reached out to her. She has since provided entry and exit points on the securities I focus on. You can look her up online if you care supervision.

[@DailamiPuang]

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[@Prachka1]

Smart CDL drivers need to stop driving and change their careers . A lot of these drivers are so stupid that they actually enjoy going backwards financially since 1970’s. No trucker should get behind the wheel unless was given a base starting pay of $105k annually + benefits and at least 15 consecutive days off per month.

[@derekbarker2818]

Glad I got and got my degree in accounting.

[@UP-To-The-Time]

Make any long interstate drive and it's easy to see. It feels like more semi trucks in the road than passenger cars. It's been years the media been complaining about a shortage of drivers. Now there is a surplus.

[@VON92]

I'm an owner operator leased to a tanker company and it's super slow. I can only imagine how it is for box trucks

[@bplmedia]

This is all you need to know if you’re still in denial that we’re in a Recession. Freight always leads into a Downturn and bottoms before the Economy does

[@steveb796]

We have record low unemployment, record high median wages even when taking inflation into account, record high gdp. You chicken littles have been saying we are in a recession for 2 years.

[@bplmedia]

@@steveb796 Just because DC is telling you that doesn’t mean it’s true. Real Wages are deeply negative, you’re getting taxed more because you’re “making more” while netting less, earnings are declining, GDP is at the flatline and is about to go negative, bank lending has tanked, yield curve is most inverted going back a long time and still hasn’t steepend, commodity/input costs have tanked, people I talk to telling me they’re broke and feel like they have no discretionary income anymore even after they’ve cut back. Seeing deflation in non essential items, lumber prices have crashed, etc. I guess that’s a booming economy to you.

[@DsonicJ5672]

@@steveb796 I agree, I flip my feeling on the economy every month, but damn the job report revisions are pretty big misses.

[@petermerelis]

stop thinking so monolithically. inventories have been built up for goods. we get it. it doesn't mean we are going to have a synchronized recession.

[@steveb796]

@@bplmedia oh please. The economy is purposely being slowed by the fed to combat inflation. The event is still booming. Stop listening to known liars like Fox News and fat Donnie. Real wages are at their highest level ever. Stop whining and got get one of the 6 million jobs that are there for the taking.

[@Erikkurilla01]

Despite the fact that I invest, I am saddened by my inability to evaluate each company's performance and determine whether or not this is the ideal time to purchase stocks. My monetary stockpile is being depleted by inflation. At this stage, I need accurate market trajectory data, but I'm not sure what to do.

[@Lemariecooper]

Particularly in this weak market, there are several opportunities to generate excellent returns, but such intricate transactions can only be carried out by seasoned market professionals.

[@jessicasquire]

I suggest that you look for a mentor or knowledgeable advisor, particularly in light of the current economic climate.

[@patrickbrussels4454]

@@jessicasquire I completely agree, which is why I prefer to delegate daily decision-making to an investing coach. It is nearly impossible for them to underperform given their specialized knowledge and research, as well as the fact that every one of their abilities is geared toward utilizing risk for its asymmetrical potential and mitigating it as a buffer against certain bad turns. I've been working with an investment coach for over two years and have made over a quarter million dollar.

[@Erikkurilla01]

@@patrickbrussels4454 I've been thinking about going that route. I've been holding onto a lot of stocks, but they're starting to lose value, and I'm not sure if I should retain them or sell them. I think hiring your investment coach would help me restructure my portfolio.

[@patrickbrussels4454]

@@Erikkurilla01 Yes, you can use a search engine to hunt for *STEPHANIE KOPP MEEKS* . However, I'm not certain that I can bring this up. In 2020, she attracted a lot of attention. She manages my portfolio and serves as my mentor.

[@rollickplays3579]

The govt should stop giving authorities to new trucking companies for atleast a few years. Every non educated immigrant coming to this country get into trucking and has messed the balance.

[@ice-cold4342]

This is what the mega trucking companies wanted when they kept telling the corporate media about driver shortage few years ago.

[@Whatta33]

They also get money every 3-5 years for new trucks only because all the mega companies are owned by or tightly connected people from Congress and Senate and that’s a fact. Look up their names and only blind man can’t see what’s going on. Tribe

[@ceasarwright7567]

Mega carriers are hurting too

[@eharris3021]

Exactly! Like the big corporate farms, the companies would like nothing better than to see the end of the independent drivers. Once the mega companies gain control of the carriers, they will gain control of the nations logistics. After that it won't matter which side is in the white house because corporate America will be pulling all the strings.

[@vicpetrishak7705]

Yes , the government let immigrants into the country to fill vacant truck drivers positions . The came in and many bought trucks and developed companies cutting rates beyond belief ! 7/6/23

[@vicpetrishak7705]

@@ceasarwright7567Mega Carriers deserve it , they and the Foreigners invented RATE CUTTING ! Mega Carriers cry but purchase trucks , trailers , parts , tires , and fuel cheaper than everyone else ! Drivers are just another LABOR COMMODITY for them , nothing more ! 7/6/23

[@christopherpowell4727]

Tell me again about the driver shortage that’s been going on for 50 years..lmao. Greedy ass companies dropping rates because they can.

[@shughlanazimi5128]

That’s absolutely right. My husband is a truck driver and he can’t even pay his bills and taking loan to pay. 😢we don’t know what to do

[@dlvox5222]

Only 2 years ago they couldn’t hire truckers. I know guys that were making nearly $200k a year and buying homes

[@ChadValue]

The amount of chassis in the port of los angeles is immeasurable , everywhere you look you will see them stacked 5 high.

[@truthseeker5890]

What does that mean? Does that mean that the chassis are not hauling containers? No freight to be hauled so the chassis just sit? I'm in the trucking business but I've never worked in a port; that's why I ask.

[@jasonrabe1664]

Yes

[@CheaplaffsJohnson]

Got out in February after 5 yrs otr and am now driving ready mix. Business couldn't be better.

[@bluedollaz4053]

What’s ready mix?

[@CheaplaffsJohnson]

@@bluedollaz4053 concrete. I deliver to construction sites

[@joecoffee968]

I'm an over-the-road trucker. I can tell you it's not quite that bad. It's just another really hard time, America has had a few of them and I'm sure we'll have lots more after this.

[@G.IKendall]

Liberal right?

[@joecoffee968]

@@G.IKendall what have I said that would lead you to believe that?

[@Lazlo.]

"it's not that bad" "just another really hard time" lol

[@joecoffee968]

@@Lazlo. America has been through way more difficult times in this. The real problem is not the times we're going through, the real problem is that in America men are losing their sense of manhood and do not seem to understand the concept quite often a standing up and acting like men and just doing what you have to do. Everytime I turn around in this country people are finding more excuses to stay home and take it easy. I wish I had the luxury to stay home and take it easy. Most of my life I have worked most holidays. Quite often I will be out on the road during a holiday and I am told there is no freight because this is a "holiday weekend". I'm sorry but that is the most goddamn stupidest thing I've ever heard in my life. Quite often I will find myself sitting at a warehouse waiting for the employees to get back because they are celebrating their "holiday weekend", home with their families with a little barbecue grills, drinking beer when I'm sitting there waiting for my freight at their stupid Warehouse. Would you like me to tell you all what you can do with your holiday weekends? The reality is there's always going to be hard times, the real danger is in America men seem to be losing their damn balls. Now even the public school system is trying to turn all of our little boys into little girls. If you say anything publicly about it you are branded a bad person. Yes I understand America maybe coming to the edge of a very steep cliff and if we fall off the edge we might never come back again. We might really be coming to our end however almost every day of my life people have always said America is close to her end. If some people want to sit around and bich and moan like little girls aboit how hard life is I guess, whatever. Speaking for myself I would rather just get up and go do what I have to damn do. Real men do not spend all their time whining and complaining, real men just get up and do what they got to do. Love to talk to you all some more but it's time for me to get up and do. Rant concluded

[@HarlandMorency-px6rx]

🧢

[@Archisphera]

It's a result of overhyped technology. When I purchased a washing machine in 2000, one could spend a hundred dollars to upgrade the plastic tumbler to a stainless steel one. That was a solid upgrade to a better product. Now, a washer costs double because I can control it with my smartphone. The only person who used that feature was my 13 year old son, who figured out how to lock my washer remotely. Took me a day to figure out how to unlock the door. Fifty dollars in extra tech turned into a $150 profit for the company and a headache for me. New tech is not resulting in a more robust product or an easier chore. People are rebelling and spending their money where it feels more productive for them. This trend will continue. Next will come washers that incorporate AI and cost $1200. A few will buy them, but most will skip the hype and look elsewhere to direct their cash. Robust goods lead to robust societies. Fad goods fade quickly. Disenchanted consumers lead to less sales, hence, less shipping. It's that simple.

[@bctw9004]

I laughed as everyone went out and bought highly overpriced trucks to make big bucks a couple years ago. Not thinking about the future at all. After 32 years as an independent owner operator I’m glad I’m out of the business.

[@teamdada2194]

32 yrs is a long time doing this. I’m independent also. This is not a long term gig for me as its tough out here. I’m still making it through the worst trucking market in history.

[@bctw9004]

@@teamdada2194 I hear it’s very tough out there. Fortunately I’m in good financial shape. I sold out. Glad I did.

[@JCaddy007]

I'm just waiting 1 more year to pay off my truck I started my own 2019 n nutin come easy very tough

[@markbrandon7756]

Why do you think the ports are shut down to drive up the rates…duh

[@user-ys5qp4bq4s]

I believe he was about to say abysmal but said "soft" instead

[@applehead5587]

Old Dominion is a buy for the long turn!

[@truthseeker5890]

That has been some verrrrrrrrrrrrrry good stock to own, yes! Now though, I don't know. Probably long-term, though, yes. That's one solid business. LTL is most certainly the answer. Load freight for eight drops with the load paying $24.00 per mile at the start of the trip! That's the answer!

[@richardthompson7216]

And yet...there sure are A LOT of Canadian trucks operating in the US, hmmm?

[@luna-pw9ln]

The federal government needs to stop issue authority to operate

[@jonasbaine3538]

basically they are underemployed

[@eh7599]

Big recession ahead.

[@tofailtowin9046]

Big Depression *

[@theoBaba773]

​@@tofailtowin9046 💯

[@blackmoses706]

Only for truckers who didn't prepare right😅 or for the whole country

[@ceasarwright7567]

We are in it.

[@amberhush3654]

Wait wasn’t there supply shortages during the pandemic. That’s hat all the outlets were saying along with the narrative they couldn’t find anybody to work😂

[@Bharat67382]

When the countries economy is in trouble it’s the trucking industry that gets affected

[@Truckingdotmoney]

The recession is filtering the trucking companies that haul cheap freight

[@omaraziz1299]

good segment. more of this and less of kramer please.

[@toddgammons9400]

This is just some of the early warning signs of what is to be a hard recession. That build back better is working great so far.....

[@americanskeptic1559]

The people ran out of the free money the socialist trump was handing out and now they aren't buying anything

[@geo6460]

Honestly. This was all Trump stimulus checks.. That's what killed the economy. And more so, those free government loans... made many richer but actually poorer.

[@ceasarwright7567]

Are you guys for real or just AI bots out to diss Trump? Everyone Knows biden outspent Trump 5/1.

[@Martinez-Fam]

ATENTION ALL TRUCKERS WE NEED TO STOP HAULING CHEAP FREIGHT PLS I UNDERSTAND WE HAVE BILLS BUT WE NOT GETTING PAID LIKE WE NEED TO ITS ARE TRUCK ARE EXPENSIVE

[@darrenhere5856]

how can teamsters strike at UPS with weak trucking ?

[@DsonicJ5672]

Or the longshoremen

[@bradleymcwilliams6348]

Because teamsters at UPS is not real trucking. This guy is talking about trucks making below break even to haul a full load of something. UPS hauls thousands of parcels on each truck at $100 each. Not even the same universe...

[@DsonicJ5672]

@@bradleymcwilliams6348 for a truck driver, Swift-knight, UPS FTL, and FedEx FTL are the highest paying jobs with the best perks. All dream jobs when I talk to my drivers

[@luna-pw9ln]

The federal government needs to go back the way it used to be before 1980.

[@lkp7481]

I ship allot of 20foot trailers. Last year a 40% premium was added to my inland freight sighting trucking shortages. I was shocked to read this article that trucking prices have collapsed and I am still be charged this extra service fee. Who is pocketing the money?

[@Cp-jv6mf]

The broker

[@lkp7481]

@@Cp-jv6mf That is terrible because they are killing demand on my side with me having to charge to cover the cost and killing the truckers wages. How long do they think they can milk that before it falls apart?

[@ceasarwright7567]

Shady broker . .. rates on spot market have fallen 50%

[@Cp-jv6mf]

Deal directly with a carrier

[@johncalvo1743]

I have my own truck and authority. Where are you located?

[@killingsley]

Common sense says that things will always need to be shipped & rates will eventually go up when more loads start getting turned down. The country needs the trucks so a solution will be made one way or another.

[@aaronlewis735]

The trucking industry sucks it’s best for small owner operators etc to look into a different industry. If you can only make money driving a truck you’re screwed in life. Go get more education like get into tech schools or another business&stocks etc. but don’t ever invest into this wack industry 1 truck needs to bring in 200k per year because expenses etc which will be 100k per year. And that’s ridiculous.!

[@jasonrabe1664]

It's obvious you're not in trucking or will ever be. It does not take that much to be profitable. Maybe somebody with some overpriced stupid Peterbilt we'll have that problem but not somebody with inexpensive equipment that's paid for. Pre-emissions by the way.

[@mathew3267]

They're talking about solo contractors. Big companies are booming.

[@bones6554]

No they're not.

[@mathew3267]

@@bones6554 I'm better than you.

[@atarijones5056]

The problem us uts too many people buying trucks without experience and have to hire drivers to drive for them if a driver drives his own truck and knows what he's doing you can make money, too many inexperienced people trying to own trucking companies and this country will always need to eat and build and consume goods so there will always be loads and its been so many companies go out of business so how is what he's is saying correct it's been hundreds of companies that went out of business since covid

[@infantryrecon101st]

We need a new president and a good one like Trump! Our economy was booming when Trump was in office and his policies were working, not working against the American people like the current policies in place right now causing the economy to crash. Everything has gotten more expensive with the current administration and not by a little but a huge increase!

[@djkingsoul29]

When will things get better?

[@342josevargas]

Pssshhh I’ve been having a good year!!! 96k-100k

[@fredjones3879]

Need to strike for wages. Now

[@JuggyGales1977]

Good. I live in the Inland Empire. We'd love to see 70% fewer trucks on our roads clogging up our lungs. How much junk from China do we all need?

[@jessicaramirez4354]

What happend to that we did not have enough drivers?

[@fjskj6529]

Well, theyre filled now. That temporary demand for goods shot up and increased demand for drivers Now that's low, guess what? Some drivers will need to find new jobs. Unless the US supplies another stimulus cheque (you probably dont want that money-printing scheme atm) it'll be like this

[@Bharat67382]

We had too many trucks

[@moiseso.]

It was a push to collapse the market

[@midnighttrucker19]

It was never true. "Driver shortage" was a false narrative put out there by the ATA and large trucking companies to drive down rates

[@jonmolina948]

That’s for big carriers. Spot market is saturated with smaller owner ops and small fleets.

[@edwardantrobusjr2253]

I've been trucking for 32 years. The last 26 years hauling perishable foods in refrigerated trailers. I've seen a slow down in the past 3 months that is worse than during the great recession. But, part of that is likely because the large company I work for refuses to cut any rate for any reason. We've lost several major food producers because of this.

[@DRNT940]

THIS GUY IS LYING! IT IS EXTREMELY EXPENSIVE AND DIFFICULT TO GET INTO TRUCKING AS AN OWNER OPERATOR. YOU NEED A NEST EGG OF 50K YOU BASICALLY NEED A LOAN IN EXCESS OF 100M AND THAT DOESNT INCLUDE THE 40K TRUCK YOU JUST FINANCED! HE IS LYING!

[@Ccrippie]

He should be fired as CEO! You should have been wiped out w SVB!!!!! During the 08’ banking crisis millions were wiped out! WHY IS THIS DIFFERENT?

[@truckingwithcliff]

Its not gonna get worse because when these carriers taking trash rates go out of business, the rates will stabilize

[@scottingersoll9994]

Hopefully when Joe gets out of office things Rocket back up dumb decisions have been made this whole presidency man made recession

[@shughlanazimi5128]

Is the government sleeping, stop war and bring back fuel, what’s the problem

[@rjhtrucking5429]

Why ise a picture of a European truck ?

[@elosogonzalez8739]

THANK YOU JOE BIDEN!

[@Faitlaforce]

It seems like he wanted to point out it was the fault of new businesses coming into the industry lol. No buddy, it’s because of our worthless government spending and Jerome Powell raising interest rates.

[@Bradgilliswhammyman]

sorry no sympathy here, truckers were making fortunes during the pandemic....this part was inevitable.

[@Faitlaforce]

@@Bradgilliswhammyman you are clueless when it comes to trucking. It’s best you sit this one out

[@Bradgilliswhammyman]

@@Faitlaforce lol keep crying over low rates, consumers are breathing a sigh of relief.

[@Faitlaforce]

@@Bradgilliswhammyman Brace yourself. The worst is yet to come

[@saintpatrick6681]

oh yes trucking is as corrupt as it gets.

[@richardthompson7216]

And yet we seem to have enough freight to keep all these Canadian trucks working. Thanks to Trump and the USMCA!

[@user-hr4jo2eu2b]

Have a good day from productions.

[@kennardjohnson7875]

It's longer dead head to decent paying loads,I have no debt so I can ride out the storm longer, my banker said equipment rate is 10.5% right now. Let's go Brandon your doing a knock down job! Enjoy the sink hole yall voted for,starve silently please!

[@blackmoses706]

No debit better pray you don't have a break down 😅

[@kennardjohnson7875]

@@blackmoses706 I have money in the bank, and 30ty grand in the engine last year.

[@truthseeker5890]

@@blackmoses706 Sparky, the word is "debt." Consider night classes for English! Did you sneak across the border and get on one of the buses?

[@ceasarwright7567]

Been in the industry a long time, Ive heard that comment before. Guys keep putting more and more money in their company while running at a loss. Next thing you know theve lost their savings ...mortgaged the house ...credit line is full ...credit card is full and rates keep falling. When they have not 1 $ left they give up and loose it all.

[@kennardjohnson7875]

@@ceasarwright7567 right, well my old truck not worth much but alot in it,but had a good weekend net over 3 grand

[@rollickplays3579]

Ban TQL

[@orhanyuce2864]

Yes

[@ivanchopko2645]

Double broker is the problem

[@vicpetrishak7705]

Anti-Trust violations appearing . Mega Carriers cutting rates in market lanes to drive competitors out and then like Vultures stepping in grabbing the freight and raising rates ! Thank the Peanut Farmer for DEREGULATION ! 7/6/23

[@kirilgotzkov2654]

100% correct.

[@alannamichellepaulino8429]

Libing legalisar cuenta no kiso rase

[@chazman4461]

The economy during covid is and was unsustainable. Why would anyone take that as the norm? Eventually the money is going to run out. Most stupid people can figure this out. People are not richer. In fact, most where I live are tapping savings and credit cards.

[@atarijones5056]

The market is being manipulated and we can't accept any freight because after a while it because doing a load for free if it's cheap and I know hundreds of loads pre loaded and just sitting that also pay well and they don't have enough drivers to do all the loads this is also not easy to get a truck to us it's alot of money and banks don't want to approve truck loans the problem is that we will always be consuming things and that will not stop so there are alit of loads people don't really need liquor but they can't live without food or goods we deliver all this talk is nonsense

[@y_i_fly6256]

Usually there’s seasons slow downs in the trucking industry. What bad about this current economy, people have less disposable income, they’re not buying as much and what’s been saved is slowly becoming depleted. This just makes the seasonal turn ups unpredictable and looking for that magical miracle in a turnaround economy just as unpredictable. Only way to predict it is in the next election and guaranteed Trump would straighten this whole mess out very very quickly.

[@RxGachkov]

piece by piece, the schwab reset is happening , 2030

[@DKK]

So cnbc goes from buy buy buy to worse than the Great Recession, got it

[@Leo_Vasileio]

Greedy brokers

[@isaiasbalbuena6356]

Thanks to the new autonomous and “ clean energy “ trucks !!! Honestly, someone wants all the owner operators to be out of business so we all will be forced to work for big company’s, in my case, if that’s what they want, I prefer quit driving and work for McDonald’s better.

[@steven4315]

So where are all these autonomous and clean energy trucks putting you out of business? A few autonomous mining trucks and a few clean energy trucks being tried out, that's it.

[@terrysmith7229]

Bidenomics 😢

[@lexperz5256]

Hmmmm.

[@CHMichael]

We made it through covid ok but coming out crashed the economy? Mission accomplished - we are in a recession - hurry. Go back and watch the debate again.

[@kickazz999]

Inflation needs correction so jobs must suffer..thx Republican Jerome Powell thx a rot

[@ocvegasproperty]

Reeeeee cessssss Ionnnnn

[@gaonajesusjg]

Im a truck driver since 2008 i ask where our help know that we needed we helped on covid moving shipments now we need help