Since I posted a while back on the shipping reports some stuff has come in, not good unfortunately.
I wanted to do an update as I find more stuff. The fact is that while I don’t have the subscriptions to look under the paywalls that some of the important indexes are under, the overall outlook is pretty sour with year to year declines being significant. Anyway here’s more.
First Brickmuppet Ken has an update with links.
One of which was this piece from Bloomberg. When Bloomberg uses words like “toast” I have feeling that things are not looking good.
A professional mariner has some input here.
Another report from zero hedge.
Deep freight recession hits.
Stores are closing and the ones that are still open are drawing down stock.
This tallies with the slowdown in shipping over the last few months as the orders to stock shelves today were made about six months ago. “Toast” is a pretty good description of what’s happening.
For more on the dysfunctional economy click Here or on the tag below.