Monday, September 14, 2009

Ghost Fleet of the Recession

This story from the Daily Mail is simply stunning.
Here, on a sleepy stretch of shoreline at the far end of Asia, is surely the biggest and most secretive gathering of ships in maritime history. Their numbers are equivalent to the entire British and American navies combined; their tonnage is far greater. Container ships, bulk carriers, oil tankers - all should be steaming fully laden between China, Britain, Europe and the US, stocking camera shops, PC Worlds and Argos depots ahead of the retail pandemonium of 2009. But their water has been stolen.

They are a powerful and tangible representation of the hurricanes that have been wrought by the global economic crisis; an iron curtain drawn along the coastline of the southern edge of Malaysia's rural Johor state, 50 miles east of Singapore harbour.
While we in America wonder what will happen in this country, this story gives you an idea what is going to happen at Christmas time, etc.

This has to be one of the finest stories about looking ahead in the world economy that I have seen written.

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