You know those Mexicans that hang out at Home Depot parking lots looking for work? That’s the picture in Singapore as 750 freighters are idling in the water waiting for jobs – with no work to be had. New York Times has the story:The problem is global shipping has collapsed.
The Big Picture
1929 Stock Market Crash Was Not that Bad After All!
An investor who invested a lump sum in the average stock at the market’s 1929 high would have been back to a break-even by late 1936 — less than four and a half years after the mid-1932 market low.
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The Big Picture
Big Banks’ Recent “Profitability” due to AIG Scam?
Even Bernie Madoff would be impressed […]
The Big Picture
Global Shippers: Recession till 2012
Global shipping leaders are bearish on world economy, and oncoming glut of new ships, with fewer customers. […]