Seeking Alpha: Recession Is Not in View but Economy Is Ugly

by Steven Hansen

• As readers know, we focus on the transport sector, which we consider a coal mine canary for the economy.
• The economy may be ugly, but there is little evidence (yet) it will be recessing.
• The data released this week confirms the economic soft spot is continuing. 

There are lies, damn lies, and statistics. Yet figures don't lie, although liars figure.

Here's a number that should stand out, but seems to get ignored- trillion dollars deficits. With this amount of borrowing, all of these other numbers should be called into question. Indeed, if you were to attempt to cut this deficit, you would have politicians howling in protest. That's because they know that all of this is being floated on a tsunami of debt. Tsunamis are known to be destructive, as this will be. It has not hit yet, but it will.