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Rebel Capitalist News

News: This Company Is A Proxy For The Economy...And It Just Went Bust!!

Rebel Capitalist News

George Gammon

Business, Investing

4.71.1K Ratings

🗓️ 4 August 2023

⏱️ 9 minutes

🧾️ Download transcript

Summary

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Transcript

Click on a timestamp to play from that location

0:00.0

Hello, Hello, Rebel Capital. Hope you're well. So breaking news.

0:03.5

One of the United States' largest trucking companies just went bus, an iconic brand,

0:10.0

yellow. I remember seeing these trucks going all up and down the highways pretty much my whole life. They were in business for

0:18.5

I believe right around 99 years. Run a hundred years. They're in business and they just went bus.

0:23.0

And the reason this is so important, not only did they employ 30,000 workers,

0:27.0

but also because they're basically a proxy for the U.S. economy.

0:30.0

So let's get into this video from Fox News and then we're going to go to

0:34.6

CNN and kind of connect some dots here and go over kind of what other data points that

0:40.3

we can extract from this story to better predict the probabilities of where the

0:45.0

economy is going in the future. So we're going to go right over to Fox News and

0:49.6

let's go ahead and listen to this clip.

0:51.2

Sir, with a share price, which you mentioned.

0:53.8

Actually, before we get into this,

0:55.1

one thing I wanted to mention, they just stated

0:57.2

that one of the main reasons they are going out of business

0:59.8

is because they failed to refinance their debt.

1:04.0

So what happens when money becomes tight?

1:06.6

What happens when bank lending contracts?

1:09.5

Businesses can't roll over their debt,

1:11.2

they go bust, they fire employees.

1:13.4

And then you got to think about how that correlates

1:15.9

or how that impacts other markets like stocks, housing,

...

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