Posted on 09/13/2009 12:50:31 AM PDT by blueglass
The world's ship owners and government economists would prefer you not to see this symbol of the depths of the plague still crippling the world's economies
The biggest and most secretive gathering of ships in maritime history lies at anchor east of Singapore. Never before photographed, it is bigger than the U.S. and British navies combined but has no crew, no cargo and no destination. Do not tell these men and women about green shoots of recovery. As Briton Tim Huxley, one of Asia's leading ship brokers, says, if the world is really pulling itself out of recession, then all these idle ships should be back on the move.
(Excerpt) Read more at dailymail.co.uk ...
After learning about this situation, President Obama responded: “Time for a clunkers for ships program.”
bookmark for morning
what recovery?
Just wow!
Excellent article! Been following the Baltic Dry Goods Index since last summer but the numbers are, while horrible, abstract. Seeing and reading about the fleet fills out the picture.
On the bright side, if government takes over completely we can all buy cheap ships and live in the sea!
They can play “Happy Day are Here Again” all they want, but things like this really drive the truth home. You can’t hide millions of tons of floating steel forever.
Well isn’t this what all the leftists want? Less trade means less consumerism which is destroying the planet right? This is just the end result of what they hope to further accomplish.
This isn't unexpected, but it's disturbing. Singapore failing will have rippling effects throughout Asia, none of them good.
Cargo ping - the accompanying Daily Mail article is a real stunner.
“Time for a clunkers for ships program.”
Don’t forget, at tax time, you have to report your $4500 clunker benefit as taxable income.
Singapore failing will have rippling effects throughout Asia, none of them good.
WalMart shelves are going to be a little short this winter.
The funny thing is that I don't think that many people the received the benefit will realize this until they get a 1099 in the mail. LOL
I remember visiting West Point with my family in the 1950’s. For miles and miles as we drove along the Hudson there were surplus warships of every size and type at anchor, the so-called “moth ball” fleet. Wikipedia lists 524 WW-II destroyers, alone. I guess it took some time to scrap them all, and at that time I suppose some of them might have been needed had thing in Europe heated up.
Say what you will about WalMart, I believe these folks are VERY on top of consumer data and econo/political realities.
They are obviously into the pdychology of the why and how of business and making money.
Buy low (Chinese mainly) then sell high (comparatively for the price paid originally).
That was Sam’s guideline.
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