January 14, 2009

Shipping Rates Fall To ZERO as world enters complete economic collapse

Freight rates for containers shipped from Asia to Europe have fallen to zero for the first time since records began, underscoring the dramatic collapse in trade since the world economy buckled in October.

As I reported on this blog last month (here), the Baltic Dry Index (BDI) which measures freight rates for bulk commodities such as iron ore and grains crashed several months ago, falling 96 percent.

This latest news from the shipping industry is different. It means the economic collapse has spread to core trade of finished industrial goods, the lifeblood of the world economy.

Last October, I warned (here) that the U.S. was headed for complete economic collapse and that shortly after the economy failed, the federal government itself would collapse; before June of 2009.

All the things I warned about are coming true. After you read the story at the link below, help prepare yourself for what's coming by re-reading my article from October which talks about what is going to happen after the economy and government collapses (Here)

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