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Supply Inelasticity

“Fall is upon North American rail. It is a time for the grain harvest and a time to begin reflection on what the year has delivered and an opportunity to look forward to the future. It is a time for closing the Southern border as South and Central American migrants decide that the roof of a covered hopper car is the new passenger ship to freedom and the American Dream and that Eagle Pass, Tex., is the new Ellis Island. After a four-day border closing by U.S. Customs and Border Protection, Union Pacific reported a 24-train backup in both directions equivalent to 32 miles.”

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