“World trade has collapsed…”
So much for recovery. Nothing you hear about this economy from Washington can be trusted. There is little which can be said to even convey the implications of what we pass on below.
From Zero Hedge, the hidden catastrophe of economic collapse:
The bottom line: world trade has collapsed, shipping lines, once flourishing, have become graveyard archipelagos populated by rusting ship skeletons. Yet all of this is beyond the land, and thus far from sight. Of course, who needs trade when you have a speculative market trading in its own bubble, hitting yearly highs day after day, thanks only and exclusively to the Chairman’s printing press. It is a pity these ships can not sail in the sea of hundred dollar bills that is being created each and every day at the Federal Reserve, whose only use these days it seems is to buy junker stocks and to feed the algos that lift whatever offers are stupid enough to float in the equity market.
Below, Zero Hedge gives a taste of this disaster with technology provided by Google Earth. Each red dot is an idle vessel.