The Shanghai Containerized Freight Index (SCFI) that tracks shipping rates from Shanghai to Northern European ports plunged 14% from last week to $399 per twenty-foot container equivalent unit (TEU), down a vertigo-inducing 67% from the glory days just a year ago. It was the 11th week in a row of declines, and it set a new all-time low.
The index is now half of the key rate of $800 per TEU that a report by Drewry Maritime Research, released on April 19, considers the break-even rate for these routes even at the currently lower fuel costs. This leaves carriers deeply in the red.
h/t Melinda
Scarey stuff.
Looks like a race to see which of all the unsustainable bubbles
that have been created by the looting factions will burst first,
trigger the rest, and then take everything down.
I’m seeing real estate asking prices in my neighborhood that are clearly irrational. Tells me we’re on the verge of another fiscal/economic train wreck! Woo-hoo!
All of these “nothings” have got to add up to something. Quite a lot, I would surmise.
Containerized Freight from China to Europe have collapsed.
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Guess they have bought all the plastic shit they can afford?
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I spend quality times at thrift shops, yard sales.
Finding old American made tools, electronics, furniture, and spare car parts.
Can’t wait till we start trading with Cuba..
When freight shipping rates go up so do the prices what comes around gose around
Could be a sign that the EUnuchs are finally becoming frugal and expecting to get some real austerity in order to stave off the inevitable collapse of the EU.
Inevitable because they’re on the hook for generations with their investments in and tax subsidization of the Great Global Warming Swindle after they collectively leaped onto the environmentalist bandwagon even after it was blindingly obvious the wheels were falling off.
Collapse will be the only way to stop the Liberal Progressives from destroying our Nations.
‘It became necessary to destroy the town to save it’ – unnamed Major Bến Tre city Vietnam Feb 1968
…Can’t wait till we start trading with Cuba…
LMAO…me too.!
I have bought my last cell phone, my last vehicle, my last set of tires (new), and many many other tiems that were needed at one time or another from: kijiji… most at less than 50% of New retail or better.
But on a macro scale: I think we can all see a DJI as overvalued by at least 35-45%. An American Dollar under seige while the Fed prints paper by the Billions and bullion being completely undervalued in todays terms. And all this with anemic growth world wide & major Banks with no where to go but to ZERO Interest.
The SHITE will hit the fan…I predict somewhere around the last cpl months of that useless peons Presidency. or maybe just after.
Me, I’m buying gold n silver…physical.
stk