Double-Dip Recession?

26 10 2009

will-work-for-food

I came across this fascinating bit of info this morning.

Despite all the talk about America coming out of the worst recession since WWII, here’s an indicator that says it’s far from over.

~Eowyn

………….

KEY CHINA BOX INDEX DROPS FOR FIRST TIME SINCE JUNE

25 October 2009 – http://www.hellenicshippingnews.com/index.php?option=com_content&task=view&id=70885&Itemid=79

Alarm bells are ringing for liner firms as one of the most accurate gauges of the container index fell for the first time in more than four months Friday. The China Containerised Freight Index, operated by the Shanghai Shipping Index, dropped for the first time since early June today. Despite lines reporting increased volumes and some being successful with rate increases this news will be a hammer blow for the industry. The CCFI takes data from the leading 20 lines operating out of China. Its numbers have been consistently in line with the fortunes of the container sector over the years, especially since China accounts for one in two boxes moved.  With container shipping often a precursor of the world economy, the drop in the CCFI has some analysts suggesting the global economy could be in for a nasty double dip recession.

Source: SeatradeAsia Online


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6 responses

26 10 2009
Tom in NC

No surprise as far as I’m concerned, all the ones saying we are coming out of the recession are just a bunch of obamabots talking out of their asses because their mouths know better.

26 10 2009
bkeyser

Interesting indicator. I’m far from an economist, but this makes a great deal of logical sense. I’m an Architectural Designer in a pretty upscale market (which is quite dead, btw) and I’m waiting for the Commercial Real Estate shoe to drop as another indicator of a prolonged recession. I did see that a large commercial lending institution just went under just this weekend. I’m sure it won’t get a lot of press, but that’s another scary indicator. When businesses go under they can’t pay their leases. Owners then can’t pay their loans. Banks go under. But hey! At least Barry got in another round of golf!

26 10 2009
Eowyn

bkeyser,

That would be Capmark Financial, one of the largest U.S. commercial real estate finance companies, which filed bankruptcy this past weekend, with $21 billion in debt.

Capmark may be the first burst of the commercial real estate bubble.

26 10 2009
bkeyser

Yeah- that’s the one I saw! That’d be a burst alright- no slow leak there.

27 10 2009
Dave

Wait until the next round of foreclosures hits.

Can you say depression?

-Dave

27 10 2009
giovanniworld

Dave,

And they should be hitting right about now, with the bulk piling up over the next 5-6 months. What we have been experiencing will seem like a vacation.

Gio-

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