AI
Monday, August 24, 2015 6:10:25 AM
Global Trade In Freefall: Container Freight Rates From Asia To Europe Crash 60% In Three Weeks
(And what is the Manchurian Monkey squawking? "Remember folks, the economy is better now than when I took office."
And so it goes, and so it goes. . .and so will you soon I suppose. Remember always ~ Currency wars lead to trade wars that end in HOT WARS. Got it?)
Three weeks ago, when we last looked at the collapse in trade along what may be the most trafficked route involving China, i.e., from Asia to Northern Europe, we noted that while that particular shipping freight rate Europe had crashed some 23% on just one week, there was some good news: at least the Baltic Dry index was still inexplicably rising, and at last check it was hovering just above 1,100.
That is no longer the case, and just as with everything else in recent months, the Baltic Dry dead cat bounce is now over, with the BDIY topping out just above 1200 on August 4, and now back in triple digit territory, rapidly sliding back to the reality of recent record lows which a few months ago we suggested hinted that much more is wrong with global trade, and the global economy, than artificially manipulated stock markets would admit.
Complete Article: http://www.zerohedge.com/news/2015-08-23/global-trade-freefall-container-freight-rates-asia-europe-crash-60-three-weeks
(And what is the Manchurian Monkey squawking? "Remember folks, the economy is better now than when I took office."
And so it goes, and so it goes. . .and so will you soon I suppose. Remember always ~ Currency wars lead to trade wars that end in HOT WARS. Got it?)
Three weeks ago, when we last looked at the collapse in trade along what may be the most trafficked route involving China, i.e., from Asia to Northern Europe, we noted that while that particular shipping freight rate Europe had crashed some 23% on just one week, there was some good news: at least the Baltic Dry index was still inexplicably rising, and at last check it was hovering just above 1,100.
That is no longer the case, and just as with everything else in recent months, the Baltic Dry dead cat bounce is now over, with the BDIY topping out just above 1200 on August 4, and now back in triple digit territory, rapidly sliding back to the reality of recent record lows which a few months ago we suggested hinted that much more is wrong with global trade, and the global economy, than artificially manipulated stock markets would admit.
Complete Article: http://www.zerohedge.com/news/2015-08-23/global-trade-freefall-container-freight-rates-asia-europe-crash-60-three-weeks
Economics by Following the Money ~ Globally & Nationally on Twitter @Conan644
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
