Filthie's Mobile Fortress Of Solitude

Filthie's Mobile Fortress Of Solitude
Where Great Intelligence Goes To Be Insulted

Thursday, 19 May 2016

Another Economic Report

While the bankers are being upbeat and positive about the economy - I continue to call 'bullshit' as they prattle on about leading and lagging indicators, commodities, stocks n' bonds and what have you. My moral, economic and intellectual superiors are calling for a mild recession and a fairly quick recovery.

A week or two back I noticed the yards filling with drill pipe - which is a really, really bad sign. The equipment rental yards were filled with idle equipment - another really, really bad sign. Today and yesterday I dropped in on some major oilfield and heavy construction customers - and couldn't reach them.

They were out in the yard picking up trash. One was out on the lawn tractor mowing the grass.

Folks, it doesn't take a rocket surgeon to realize that when you have your senior tradesmen and foremen out on garbage detail - there is something serious going on. The layoffs going on in Alberta - already terrible - are going to become much much worse in the next quarter.

Ya heard it here first! Make your preparations accordingly!

This kind of shit can only end one way...

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