I have two customers who own major trucking companies–one on the east coast and one on the west coast. I’m sure you’d recognize their names.
They both told me last week they can’t fill their trucks with freight and they are not even making enough money to pay for the fuel. They say freight volume is down over 50%.
Consumer spending has fallen off a cliff. We are headed for some trouble.
More at the link. Let’s hear from our readers.
The writer of this post, is other words, is saying we are not in a “vibecession”.
What is a vibecession?
Vibecession: A newly-invented word in 2022 that is not really needed. We all know that the governments no longer represent people.
We all know that stuff is too expensive, so Canadians/Americans will not be spending on big ticket taxable stuff. And we do not want EV crap. How likely will it be that a crappy EV emergency vehicle never shows up for a house fire or burglary?
Recession is what we all know and understand, and it is happening NOW, as in the past, and is well overdue. Governments at all levels have been taking us to the cleaners for too many years.
Ham. A vibecession is defined as what Finance Minister Chrystia Freeland calls Canada’s emerging economic recession.
I thought it was when Chyssies vibrator batteries died.
Thought it had a kickstarter on its vibrator…
Unfortunately, this was a year ago as are the comments. November 3, 2023.
A glitch in the matrix. Happens to the best of us.
In Canada it hasn’t changed. We have six consecutive quarters of declining GDP per capita. Overall GDP growth is fabricated on high immigration supported by massive government handouts (increased debt).
Actually, none of the immigrants, or so-called “old stock” Canadians can AFFORD to live here, even with handouts.
Baaahhh! Nothing to worry about. It’s just a bit of vibecession. It’s all in our heads.
try shipping illegal aliens. that appears to be a growth industry funded by our rotten government.
Wildman
Good one…as long as its OUTBOUND….
Nothing is sudden in this boondoggle. Canada has been in a recession for several months, according to Stephen Poloz, former governor of the Bank of Canada.
Real trucking companies are bleeding, and Canada Post and their ridiculous union, are both making demands that no solvent company could possibly accept. Canada Post: you will NEVER match private companies; union: are you serious? Try working for a private sector employer. Oh, by the way, Canadians are broke.
Let it snow…
P.S. To LIEBRALS: take your phony GST rebate on selected goods and make it permanent. We Canadians can no longer afford the Ottawa/Gatineau government mafia.
I don’t know, did you see the offer/settlement Air Canada pilots recently got? Forty percent over 4 years IIRC. And that was approved by only 67% of pilots. It’s a mad world.
How much of the grown is from government spending papering over the recession?
Bankers are laffing, all the way to the bank, and to the uKraine.
I have been through numerous recessions – this one is long overdue. What has worked for me in the past and I hope will work this time is to “hunker down, only spend money you absolutely must, no more eating out in restaurants (sorry!), buy only necessities at the grocery store (fruits, vegetables, meat, fish – not very many processed foods). Again, only my experience, but recessions typically last 12 – 18 months. Hopefully, by mid 2026, Canada and other countries in the Western world will be coming out of it.
This all depends on a change of government in the fall of 2025. As I have said, this is my experience with previous recessions. Things can always change.
‘ Canada and other countries in the Western world will be coming out of it.’
We’re already out of it, that’s what’s leading to the recession and all the other problems we’re facing. The socialists are winning on virtually every front.
Most recessions last less than a year. https://www.currentmarketvaluation.com/posts/stock-market-performance-during-recessions.php But I think this will be a big one, because it’s really been overdue for 2 years or more. Maybe this one will last longer.
trucking has always been the harbinger of the economy , both ways.
Yesterday, both Global and CTV: omg, grocery prices will go higher 2025. Guess why: because of climate change + Trump coming to WH !!! WTF ?!? The dudes writing such crap should be fired on the spot and escorted out.
An example why news are utter garbage/unwatchable these days. Same goes for talk radio, u can’t listen without getting mad in 1st 5min.
They are only doing what their paymasters demand in order to get the subsidies.
Judging by the Costco parking lot, people must still have room on their credit cards.
Was in Walmart this afternoon picking up some cat food. Lots of customers, even had cashiers open. Busiest I’ve seen it in months. Usually there seem to be more staff than customers. And this Walmart doesn’t sell groceries other than dry goods.
I’ve been in the trucking industry for over 30 years, this is the worst I’ve ever seen it. The auctions and repos yards are full of trucks and trailers and there still isn’t enough freight. I talk to carriers everyday, the desperation in their voices is palpable. The trucking industry is on the brink of collapse.
Poor management on behalf of trucking companies is partly to blame, but government bringing in hundreds of thousands of immigrants to drive truck (in fairness, the Trudeau government has stopped this) created a rate race to the bottom. I predict by spring freight will be sitting for weeks on end because there simply aren’t enough trucks left on the road to move it in timely manner. This will cause rates to skyrocket and add even more to
Inflation.
We need the adults in charge again.
2009 was definitely worse. In the past few months I’ve sat a couple days for reloads, and that never happens with who I’m contracted to.
Don’t care. I always make more money in a recession…although the bullshit definitely increases and I tend to tell folks to f*ck or walk a bit more than usual.
Lol!
I am making my shopping list for the irresponsible GST temporary rebate:
-Let us see: the govt. of Canada wants us to eat junk food and eat out vs. preparing healthy meals at home, and the NDP agrees!
-I gather the Health ministers from all provinces/feds/ opposition were all on board and the Canada Health Plan is completely dead. Of course, real foods are not on the list, like protein, vegetables and fruit.
-expresso coffee beans
-good tea
-the occasional deli/pre-made food, which is usually awful, possibly a cheese tray or suchi etc.
– meals out with my boyfriend or family
-unsweetened juice
-ginger ale
-junk Cheetos, chips, good crackers
-unhealthy but tasty granola bars
-lots of wine
-coolers
-shoes, nice outfits and books for my grandchildren; winter jackets in bigger sizes
-toys, including puzzles
-books for me
Newspapers are not on the list for obvious reasons.
dont forget the pokeman cards. they are gst free in soviet clusterfukastan
too funny!
Booze keeps forever and is great for bartering. I have young strong neighbours who will happily clean the snow out of an old man’s drive way for a mickey. Dec 14th I intend to clear out the local liquor store.
Good idea: my neighbour walks my dog with hers, when she feels like doing so. I think I will add some nice wine to their Xmas.
If the booze you buy contains 7% or more ABV you still pay the tax. Correct me if I am wrong.
The problem is government taxation at every level used to finance prolific waste and feather bedding in government employment. Moreover, almost everything that people do is taxed. It wasn’t always that way. One time people worked in the home and exchanged services in the family and between neighbours, with no government involvement. These days, the governments have inserted themselves into almost every activity and added complexity and cost with very little benefit. At some point, the burden becomes sufficiently great that we pass the point where decline is inevitable. In the United States they have recognized this and plan to cut regulation and government employment drastically. This may be a solution, things are likely to get worse before they get better because adding useless people to government payrolls has been a way of goosing the economy and lowering ‘unemployment’ for a long time and turning those people loose is going to cause a bump in unemployment and drop in consumption.
Are vibrators GST free? Asking for a Finance Minister.
No. But it could be written off as a legitimate business expense.
https://www.homedepot.ca/product/bosch-120v-corded-12lb-keyless-sds-max-demolition-hammer-with-auxiliary-handle-and-carrying-case/1000848188
ZeroHedge, seldom known for optimism, thinks that shipping is turning around.
My philosophy is: do the exact opposite of what Zero Hedge has to say and you will be much further ahead(wealthy).
They were one of the earliest to call out the Wuhan lab, hope you don’t get myocarditis.
It is so simple yet the NDP and Liberals don’t get it:
Tax the crap out of the electorate? They will stop spending which equates to less government revenue. Give the electorate more disposable income? They will spend like its 1999 and government revenues will increase dramatically.
What will our governments (at all levels) do? Tax, tax and more taxes.
Displacing the private sector with the growth of leviathan will do that to an economy. Capital has been driven out of the deranged dominion, productivity growth stagnates and no real (after inflation) growth happens. Wait until the market crashes and you’ll see some real shite hitting the fan.
l can see a cigarette economy coming. how does that work?
work. nobody want to do any work anymore.
lm trying to give, GIVE awsy abt $200 electrical related tools.
ad has garnered 33 views since posting buuuuuuuut
not
one
reply.
jeezuz murphy. theyre all booting to be tiktok influencers?
Yesterday I was in Nanaimo’s (pop. 110,000) largest mall. It’s the one that all the outlying towns and rural areas frequent as well. At 11am, three weeks before Christmas, you could have fired a cannon with grape shot and likely not hit anything but merchandise.
Granted it was an hour before noon, but fully 90% of the tables in the extensive food court were without patrons. I was so shocked that I took pictures and posted them to friends.
Probably just due to shoppers waiting for Dec. 14th to save that 5% on ‘selected items’ . ‘Happy Holidays’ to you Chrystia. You deserve coal in your voluminous stocking, but Guilbeault has banned it.
I’ve only seen one amazon truck in my neighborhood all week. Used to be two or three times a day.
https://www.currentmarketvaluation.com/ has 3 recession indicator models. It shows 2 recession models in “high risk” since mid-year, and a third has been “extremely high risk” for 2 years. A US recession has likely already started. The interest rates have finally taken their toll. It took a while with the oceans of easy money floating around. Canada has been in a recession for 2 years already, really.
All my shipping stocks have gone down – I don’t own a lot – but that’s a harbinger as well.
The same thing was posted many months ago
this looks like the next stage of the fascist/commie takeover…… this is much more than a recession
I hope everyone has some storable food put away somewhere …..