TRUE BORN SONS OF LIBERTY
We don't take dictation.
Tuesday, October 20, 2026
The recovery in road travel from the Great Recession peaked in October 2016, and it's been all downhill from there
The Great American Bond Market has sucked since Trump became a politician, and road travel seems to agree.
The moving 12mo total vehicle miles traveled chart is yoy monthly through August 2026. The 10Y chart is rolling 10Y annualized total returns through September 2026, setting a record low in the entire history of the country.
Housing starts are not in a new golden age but are still 2018-ish
These are not pictures of an economic boom.
The economic boom in housing of the 1990s started from the vicinity of the current levels.
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