The Current FReepathon Pays For The Current Quarter's Expenses?
Posted on 11/21/2015 2:53:53 PM PST by Lorianne
This market is looking like a disaster and the rates are a reflection of that," warns one of the world's largest shipbrokers, but while The Baltic Dry Freight Index gets all the headlines - having collapsed to all-time record lows this week - it is the spefics below that headline that are truly terrifying.
At a time of typical seasonal strength for freight and thus global trade around the world, Reuters reports that spot rates for transporting containers from Asia to Northern Europe have crashed a stunning 70% in the last 3 weeks alone.
(Excerpt) Read more at zerohedge.com ...
No wonder the shipping companies are parkin’ the ships waiting for sanity to set in.
Obamanomics
Businesses always stop shipping before Christmas.
Nothing to see here, move along... </loony leftist reasoning>
Winter of recovery no doubt.
Ok. So... container freight costs going down. Fuel going down. Beef going down.
This will benefit the average American. The one’s it doesn’t benefit are the kings of the stock market.
So why is this bad ?
Trump Doctrine: Cut taxes, cut the regulatory burden on business, cut government, get a handle on foreign trade, bring back manufacturing and jobs, put our people back to work and let them prosper. Make America great again!
I have posted ad nauseam that the BDI is the only indicator you need to watch. We are in a global slowdown. The US is heading into a deflationary depression. If things don’t change you will look back on 2015 as the good old days.
Obama is busy on a global initiative to fill them up with global Islamo-agitators with some five gallon bucket toilets and MRE’s.
It is bad because such a dip in world trade usually presages a deep world recession that includes the USA. If you remember, recessions are bad things that usually hit woking people the hardest.
Sink a ship in the Strait of Hormuz, the Suez or Panama canal, and you will see insurance rates sky rocket and global trade plummet.
The jihadis are coming for our wallet (again). Time to go after theirs.
5.56mm
Obama’s foreign policy = empower the Muslim Brotherhood!
We’ve got to manufacture our own goods! Jobs, economy, security! Go, Trump, GO!!
I remember reading during the downturn of 2008-9 that one of the big shipping companies was offering their ships for free. Just pay for the fuel and crew.
The Current FReepathon Pays For The Current Quarter's Expenses?
This must be "Bush's fault" as well, right?
This will benefit the average American. The one's it doesn’t benefit are the kings of the stock market.
So why is this bad?
Empty stacked containers mean no one's shipping, no one shipping means there is a drastic reduction for the goods that once shipped in those containers. No buy, no ship, no trade, stagnation.
GG2, long ago an economist tracked domestic production by cardboard box and paper bag production as an indicator.
Go Cruz Go!
Do you remember last presidential primary, that I changed my vote for Santorum to Gingrich for you?
Oh, and the First lady did too.
If Cruz is not the R nominee, we will vote for Trump. Otherwise we stay home.
5.56mm
The two measures of future strength of the world economies are the Baltic Dry Index, and the price of copper. Both hit new lows this week, so it may be time to batten down the hatches.
Photographs of Singapore harbor and the nearby anchorage areas in about 2009 showed hundreds of ships at anchor-freight rates could not even cover operating costs.
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