Rx_
Nothing In Moderation
- Local time
- Today, 03:27
- Joined
- Oct 22, 2009
- Messages
- 2,803
http://www.zerohedge.com/news/2015-10-14/third-all-containers-shipped-port-long-beach-are-empty
Charts are worth the trip to this site. It disputes many of the talking heads news reporters. California accounts for a noticeable percent of world trade.
Amazing that reports of a recovering economy turns a blind eye to the horrible international trade numbers and jobs affected by this trend.
There is, however, a silver lining: if the containers remain empty, and once the US slides back into depression, they can always be used for housing, just like now in San Francisco's unicorn bubble mania.
In the past several months, it has been virtually impossible to make any sense of the conflicting trends involving US and global trade. On one hand, there is global trade, which as we have covered since the spring, has been in a state of consistent decline. Some example of this:
In short: only an economist, either a tenured one or one employed by CNBC, is unable to see that the world is sinking into a global trade recession, with a economic one soon to follow
Charts are worth the trip to this site. It disputes many of the talking heads news reporters. California accounts for a noticeable percent of world trade.
Amazing that reports of a recovering economy turns a blind eye to the horrible international trade numbers and jobs affected by this trend.
There is, however, a silver lining: if the containers remain empty, and once the US slides back into depression, they can always be used for housing, just like now in San Francisco's unicorn bubble mania.
In the past several months, it has been virtually impossible to make any sense of the conflicting trends involving US and global trade. On one hand, there is global trade, which as we have covered since the spring, has been in a state of consistent decline. Some example of this:
- World Trade Slumps By Most Since Financial Crisis
- Something Just Snapped: Container Freight Rates From Asia To Europe Crash 23% In One Week
- Global Trade In Freefall: Container Freight Rates From Asia To Europe Crash 60% In Three Weeks
- South Korea Exports Crash Most Since 2009
In short: only an economist, either a tenured one or one employed by CNBC, is unable to see that the world is sinking into a global trade recession, with a economic one soon to follow
