Tuesday, October 06, 2009

The Death Of Globalization - The World's Ghost Fleet

The biggest and most secretive gathering of ships in maritime history lies at anchor east of Singapore. Never before photographed, it is bigger than the U.S. and British navies combined but has no crew, no cargo and no destination....It is so far off the beaten track that nobody ever really comes close, which is why these ships are here. The world's ship owners and government economists would prefer you not to see this symbol of the depths of the plague still crippling the world's economies.

Of course, the global economy is in recovery. A recovery led by Asia. And of course the yuan, ruble and real are the new stable world currencies. Or so the blabbering savants on Wall Street and Washington would have us believe.

It's a V-shaped recovery! Booyah! Regardless of our brilliant leadership's actions, our downside target range for the S&P has not changed.
posted by TimingLogic at 11:09 AM