The Economy: “Shipping Said to Have Ceased… Is the Worldwide Economy Grinding to a Halt?”
Tuesday, February 2, 2016 12:18
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“Shipping Said to Have Ceased…
Is the Worldwide Economy Grinding to a Halt?”
By Jeff Berwick
“Last week, I received news from a contact who is friends with one of the biggest billionaire shipping families in the world. He told me they had no ships at sea right now, because operating them meant running at a loss. This weekend, reports are circulating saying much the same thing: The North Atlantic has little or no cargo ships traveling in its waters. Instead, they are anchored. Unmoving. Empty.
You can see one such report here. According to it, “Commerce between Europe and North America has literally come to a halt. For the first time in known history, not one cargo ship is in-transit in the North Atlantic between Europe and North America. All of them (hundreds) are either anchored offshore or in-port. NOTHING is moving. This has never happened before. It is a horrific economic sign; proof that commerce is literally stopped.”
We checked VesselFinder.com and it appears to show no ships in transit anywhere in the world. We aren’t experts on shipping, however, so if you have a better site or source to track this apparent phenomenon, please let us know.
Click image for larger size.
We also checked MarineTraffic.com, and it seemed to show the same thing. Not a ship in transit…
Click image for larger size.
If true, this would be catastrophic for world trade. Even if it’s not true, shipping is still nearly dead in the water according to other indices. The Baltic Dry Index, an assessment of the price of moving major raw materials by sea, was already at record all-time lows a month ago. In the last month it has dropped even more, especially in the last week. Factories aren’t buying and retailers aren’t stocking. The ratio of inventory to sales in the US is an indicator of this. The last time that ratio was this high was during the “great recession” in 2008.
Hey, Ms. Yellen, what recovery? The economy is taking on water at a rapid rate. The storm has been building for some time, actually. Not so long ago, there was a spate of reports that the world’s automobile manufacturers were in trouble because cars were not selling and shipments were backing up around the world.
ZeroHedge reported on it this way: “In the past several years, one of the topics covered in detail on these pages has been the surge in such gimmicks designed to disguise lack of demand and end customer sales, used extensively by US automotive manufacturers, better known as “channel stuffing”, of which General Motors is particularly guilty and whose inventory at dealer lots just hit a new record high.”
The world’s economy seems in serious trouble. You can’t print your way to prosperity. All you are doing is hollowing out your economy. Draining it. And sooner or later it’s empty and you have to start over after a good deal of crisis and chaos. It’s no coincidence that China is struggling desperately to contain a stock implosion. Reportedly, banks have been told they are forbidden to buy US dollars and numerous Chinese billionaires have gone missing. And the markets opened on Monday and are again deeply in the red.
Keep your eye on this shipping story! If it is true and worldwide shipping is disastrously foundering, it’ll only be a matter of days before grocery store shelves will reflect that with increasingly bare shelves. Are people upset now? Just wait. Interruptions in goods and services, most critically food, almost happened in 2008 during the Great Financial Crisis. For three days worldwide shipping was stranded due to shipping companies not knowing whether or not the receiver’s bank credit was good. That crisis was staved off due to a massive amount of money printing. It was a temporary stay of execution, like bailing out the Titanic with coffee cups, however, and one that may reach much larger proportions in 2016.
Sailors watch the weather to see if it is safe to set sail. Investors should be watching the economic climate with the same intensity.”
Source: http://coyoteprime-runningcauseicantfly.blogspot.com/2016/02/the-economy-shipping-said-to-have.html
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We don’t need a map, or some ‘billionaire friend’ to know any of this. All you need to do is Google ‘Baltic Dry Index’, or if you have some form of ticker, then type in BDIY:IND for a lookup.
In the past year, the BDI has went from 1220 to 310, from a high in 2007 of over 6000. They couldn’t build super-freighters fast enough back then. Now, all those new ships are built and sitting there. Panama went from going to make a new canal to accomodate the new ‘China-Class’ super-freighters that couldn’t pass through the old Panama Canal, and now seems that is mired in collapse, like everything else.
For those unfamiliar, the Baltic Dry Index is an index based on how much it costs to ship dry goods on freighters, based on available space. The more empty ships, the lower the BDI, and vice-versa. Many of those newest ships have been, or are being considered for conversion over to liquid freighters – to carry oil, too. This will most-likely do nothing more than exacerbate the low-oil prices further, driving barrel-oil prices further down.
Don’t smile too much, I see our old friend hyper-inflation just around the corner as a result of the banks not making any money – and the Central Banks have NO TOOLS to fight this coming collapse, they can’t cut zero interest further, of course they can do bank holidays and impound your money to pay their bills. Seems to work for them.
Then, there is nothing left for them to hold over your head.
And to exasperate the problem, the ships were built on debt, so the money was borrowed to build the ships with the assumption that shipping costs would remain stable, but we see from your observance that this is not happening. Very interesting insight, thanks for sharing. I had to read up on it a bit to realize your comment is spot on.
i doubt there would not be hundreds of coal, iron ore and oil ships still moving
ving
Although it was claimed that transponders aren’t actually used at sea, you can still use the same app to see whether they stay in port.
I am frankly as fit, smart, and resourceful, as anyone can be, am surrounded by social misfits and undesirables, who are fatalistic on a good day. You could literally place these commodities in the laps of the demoralized, and they wouldn’t know what to do with it. They didn’t scratch, to get on Noah’s ark. There was no fight scene, like in the unBiblical movie. They thought it was stupid, they didn’t think about it, or were too good to be helped.
The stock market has been something incorporated to be a takeover of many corporations . It was set up to operate on feelings . To which the elite take advantage of and take over corporations and industries . Then either using them to better themselves or dismantle them as to not be a threat again . The worst thing any company could do would be to sell shares of stock in their company . This game always leads to greed of wanting more until they slip and sell more than 51% of their company in stocks . Then the take over begins . Now like Walmart where Sam Walton was a caring person the owners now even thought his children have sold out to shares that now demand money , money , money . The place is no longer a caring place according to workers there . The elite are buying up everything . Soon everything will be theirs . Then you will be theirs . Seems the time has come to test their powers . Pull the plug and let the people need them after they have either killed each other or survived and is now looking for a savior . Then they step in with their new world order answers and demand to chip everyone and hold all hostage to do their wishes . Now they begin believing they are gods . Note I used the little g instead of the big G for GOD . This seems to be the year of their evil take over . We out number them if we stick together , but they are betting that we won’t !
grocery stores look fine to me
The effects produced on other nations by Babylon’s downfall
Babylon was one of the chief steam engines of the world economy (Rev 18:9-18). Hence there will be great fear and anxiety throughout the inhabitants of the world at the fall of Babylon’s far-reaching metropolis, demanding security and ongoing economic wealth. Being also a parent city the dismay and confusion at her fall is felt in the widely scattered dependencies with which she was so closely connected by the ties of religion, as well as commercial intercourse.
The merchants (Canaanites) or traffickers lament because no one buys their merchandise anymore. These are the “great” (i.e. unscrupulous) men of the earth, which have made themselves rich through the abundance of Babylon’s luxury and powerful by trading on the sea, for by their sorceries and drugs were all nations deceived and bewitched (Rev 18:3, 11-19, 23). Note: Rebellion is like the sin of witchcraft (1.Sam 15:23; 28; Ex 8:18-19). Sorcery is linked with the worship of false gods (2Ki 21:6). Sorcerers: i.e. spell binders, witches, enchanters, conjurers, magicians and those who call on departed or evil spirits and plagues will have their part in the lake of fire (Rev 21:8; 22:15).
I would rather gather a tomato from my yard or local vendor than buy one shipped from some other damn country.
I would rather gather a tomato from my yard or local vendor than buy one shipped from some other damn country.
/alternative/2016/01/benjamin-fulford-revolution-continues-with-shipping-freeze-stock-plungeus-dollar-dumping-20-oil-price-attacks-on-gold-mines-more-3281196.html
Yes this is a clear sign.
The Economic Wars have begun, Monetary Banking, and Currency wars are here.
The Oil Wars, are also here. This is set to kick off WWIII.
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Soon there may be lines to get your issued ration cards. The Cost of Consumer Items, food, gasoline, etc will be so expensive most will not be able to afford them.
While you can store back on some beans, flour, corn meal, rice, etc.
You can also save some of those beans for planting. Save any seeds you can from fresh vegetable you purchase, full air dry them on paper towels then store them. Do not store in the frig, as there may be future power outages, and create condensation thus ruining your seeds. Use air tight containers.
Notice Gas/Oil is being taxed, when the price goes up so will the tax.
Also have you noticed the price of Food is going up, when the price of gasoline is going down?
Yes, Sanctions are being placed on America at an alarming rate.
The Eastern Coalition has ceased using the Dollar, a reset is in play.
Abroad America is Hated, even by so called “Friends” They are out to punish the USA in any way possible.
Every day you see stores like Walmart closing down, and wonder why. It is because they do not have enough products to fill the shelves. Soon they will run out of the stock from their main warehouse distribution hubs. You are already seeing empty shelves in the stores, although the bells are not yet going off.
Basically, you are seeing the very beginnings of WWIII being set to kick off.
How long do you think you can survive without food?
Folks as history suggest most wars are kicked off with less than what is going on now.