Tuesday, February 07, 2017

This is a pretty objective account of why we have the rail system we have now. The advent of the automobile is primarily responsible for the decline of passenger rail in the US. 

Passenger rail is simply no longer profitable here while freight rail is doing well in the private market, which is why Warren Buffett invested in freight rail, not passenger rail. 

Amtrak admits that it needs $227 million a year in federal subsidies to operate its system, which is why it will never have the capital to expand the system.

One objection to the video---the "suck" usage. Seems like Millennials introduced this vulgar language: Something is either "cool" or it "sucks." Not a great addition to our critical vocabulary [Later: Sorry to see even a smart guy like Kevin Drum using it today.]

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