An interesting look into the recession
It looks like it may be worse than feared. Thousands of ghost tankers parked off Malaysia (more than the combined navys of the British and US). Tens of thousands of abandoned box cars in the US. All this at a time when the ramping up for the Christmas season should be happening. Could this be a harbinger?
http://www.dailymail.co.uk/home/moslive/article-1212013/revealed-the-ghost-fleet-recession.html
http://online.wsj.com/article/SB123535033769344811.html
Wait, it’s not just cargo ships and trains, it’s planes too:
http://www.usatoday.com/travel/flights/2009-04-06-airlines-parking-planes_N.htm
Not to mention Insiders are selling like there is no tomorrow:
http://money.cnn.com/2009/09/10/news/economy/insider.sales/index.htm?postversion=2009091219
It certainly does not look good. All this TARP spending is a temporary fix. Anyone who owns a credit card knows that spending off it is only a temporary boost, until it’s maxed and the bill comes due. What will come when the country is maxed and this bill is due and there are no goods moving to pay it?
