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In "CHART
OF THE DAY: The US Garbage Indicator Is Sending An Ominous Sign For The
Economy," Business
Insider points us to another piece of data that
suggests the U.S. has fallen into line with Europe, China, and others in a
synchronized global economic slowdown:
Among the 21
categories of items shipped by rail, none have a tighter correlation to GDP
than waste.
According to a
2010 piece on Bloomberg, economists Michael McDonough and Carl Riccadonna note that waste has an 82 percent correlation
to US economic growth.
This should be
pretty intuitive. The more you produce, the more you throw out.
McDonough, a
Bloomberg BRIEF economist, tweeted out an update on the indicator.
And frankly, it
stinks. Waste carloads are way down.
 
Michael J. Panzner
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