I was in Eastern Montana about a week ago..driving back home... and the railroad tracks paralleled the road. For nearly five miles there were parked cars. Not a train sitting...but cars in storage. 3-4 miles were just multi-modal cars..and then a mile or so of bulk material cars (grain, sand, whatever).
I had heard alot of mothballled planes...I get that one... but I was amazed to see rail cars and so many. there had to be thousands of them. The answer I guess is the US is consuming a lot less and less is being shipped.
Definitely a very leading indicator is when they put these cars back into service.
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