Economic Blast
U.S. consumer spending rose at ahealthy rate in August, while income growth slowed after a big jump in July. Consumer spending advanced 0.4 percent compared to July, when spending also increased by 0.4 percent, the Commerce Department said Monday. In both months, the figures reflected strong gains in purchases of durable goods such as autos. The Conference Board Consumer Confidence Index, which had declined in July, rebounded in August. The Index now stands at 101.5 (1985=100), up from 91.0 in July.
Quotable
"Reflect upon your present blessings, of which every man has many-not on your past misfortunes, of which all men have some."" – Charles DickensRamp/Dock Report: October 2015
The American Transportation Research Institute reported that motor-carrier operating costs
Fear about China's slowdown and a coming U.S. interest rate hike have sent global stock markets into a fidgety freefall. But why you may ask? China's economy has been slowing for years, and the Federal Reserve has long been expected to raise short-term interest rates from near zero, where it's kept them since 2008. So what's sowing panic now? In a word: Uncertainty. Investors have grown used to near-zero rates and a booming Chinese economy - the world's second-largest after the United States. No one knows how the global economy will manage without them. As China undergoes a painful shift away from an overreliance on exports and overinvestment in homes and factories, China's economy has decelerated for four straight years. And it's almost surely slowing again in 2015.
rose about 2% to $1.703 per mile from $1.676, primarily due to higher equipment and driver wage costs. Expressed in costs per hour, the amount rose to $68.09 from $67.00. Both costs are 2014 results compared with 2013.
The value of U.S. trade with Canada and Mexico declined 8% in July as the freight value carried by trucks also decreased, the Bureau of Transportation Statistics reported Sept. 29. Truck freight value dipped 0.6% as total trade fell to $93 billion due in part to the reduced price of mineral fuel, according to BTS.
The value of U.S. trade with Canada and Mexico declined 8% in July as the freight value carried by trucks also decreased, the Bureau of Transportation Statistics reported Sept. 29. Truck freight value dipped 0.6% as total trade fell to $93 billion due in part to the reduced price of mineral fuel, according to BTS.
Fear about China's slowdown and a coming U.S. interest rate hike have sent global stock markets into a fidgety freefall. But why you may ask? China's economy has been slowing for years, and the Federal Reserve has long been expected to raise short-term interest rates from near zero, where it's kept them since 2008. So what's sowing panic now? In a word: Uncertainty. Investors have grown used to near-zero rates and a booming Chinese economy - the world's second-largest after the United States. No one knows how the global economy will manage without them. As China undergoes a painful shift away from an overreliance on exports and overinvestment in homes and factories, China's economy has decelerated for four straight years. And it's almost surely slowing again in 2015.
Beijing's clumsy attempts to halt a drop in its own stock market and its confusing Aug. 11 decision to devalue its currency, the yuan, may have escalated fears. The concern is that Chinese policymakers have panicked and that the economy might be in worse shape than previously thought. We will see soon!
Lessons from the Past
Adversity is the grindstone of life. Intended to polish you up
adversity also has the ability to grind you down. The impact and ultimate result depend on what you do with the difficulties that come your way. Consider the exceptional achievements of humans experiencing adversity.
Beethoven composed his greatest works after becoming deaf. Sir Walter Raleigh wrote the History of the World during his thirteen year imprisonment. Abraham Lincoln achieved greatness by his display of wisdom and character during the national tragedy of the Civil War. Martin Luther translated the Bible while enduring punitive confinement in the Castle of Wartburg. John Bunyan wrote Pilgrim's Progress while in a Bedford jail.
The lesson is clear. Difficult challenges are opportunities for greatness. Turn yours into opportunity for success!