I expect 2009 to be slower than 2008, but that has nothing to do with the new administration. The financial crisis (mortgage, credit, banking, Wall Street, freight recession, economic recession, global recession ... pick your flavor) developed and became deeply rooted long before the election.
Before the election, Democrats and Republicans voted to solve the problem of excessive debt by heaping hundreds of billions of bailout dollars of more debt onto the pile and passing the obligation to pay it into the future. It is a socialistic agenda that nationalizes banks and takes governemnet control of market decisions usually left to the private sector.
Now a second economic stimulus is in play that will heap even more debt upon debt. And most of that money will be spent on goods made in other countries. It would be better to spend the money on public works in this country that would boost employment, improve infrastructure and keep the money in the USA, but "better" is a concept lost on today's brand of elected officials.
Anything that can reduce public pain today is worth creating more debt to get it. Paying it off becomes a problem for future public officials and citizens to deal with. Excessive debt is evil and is squeezing the life out of the American economy. Yet our leaders seem just fine to create it without any sense of limits or responsibility. Until that trend stops, we are doomed to suffer under the burden of public debt and its negative effects.
For expediting, what worked in the past will work in 2009. Get out of debt, live within your means, be sure to work when there is work to do, save some of the money you earn. Sadly, not everyone is in a position to do that and some will be forced out of the business. Those who stay should be prepared for reduced freight and reduced revenue in 2009.
In this traditionally busy season for freight (Autumn, pre-Christmas), we are seeing trucking companies lay drivers off and reduce fleet sizes. That does not bode well for the winter when freight seasonally slows.
If you are an expediter wannabee thinking about getting into the business, opportunities remain, but if you come into this endeavor with a lot of debt and no reserves, it ain't gonna be fun. 2009 ain't gonna be fun for lots of people in and out of expediting.
With that in mind, and to offer something positive, the 2009 issues of
Expedite NOW, will include stories about expediters that are doing well in a weak economy and how they are doing it.