Soaring bankruptcies, crashing volumes, and mass lay-offs in shipping and freight…

Soaring bankruptcies, crashing volumes, and mass lay-offs in shipping and freight — one of the most reliable indicators of recession. Prices across the eight major shipping routes have plunged by half this year, going from $3,000 per container to just $1,400. One analyst predicts the entire industry will lose $15 billion this year. In short, shipping is saying a brutal recession is incoming. And it’s worldwide.

Soaring bankruptcies, crashing volumes, and mass lay-offs in shipping and freight — one of the most reliable indicators of recession.

Prices across the eight major shipping routes have plunged by half this year, going from $3,000 per container to just $1,400. One analyst… pic.twitter.com/2J6wq4dTP2

— Peter St Onge, Ph.D. (@profstonge) November 12, 2023

Anyone who thinks we’re in a new bull market hasn’t looked at weekly overtime hours, unemployment or high yield corporate debt.

The real economy is collapsing. pic.twitter.com/ElTPZBuQPT

— Financelot (@FinanceLancelot) November 11, 2023

Trucking and shipping are flashing recession, with falling prices and continuing inflation driving mass bankruptcies and layoffs. The industry is still recovering from the pandemic-era disruptions, which pulled thousands of new workers into trucking and shipping and is now spitting them out. The current situation suggests that a brutal recession is incoming, this time worldwide. FX Hedge
FedEx laying off 700 pilots and UPS is laying off 200 as freight volume declines. The majority of people have no clue on the recession coming soon. They’ll be in a rude awakening. – Joseph Jaho
Anyone who thinks we’re in a new bull market hasn’t looked at weekly overtime hours, unemployment or high yield corporate debt. The real economy is collapsing. – Financelot
The American Financial System: 1. Delinquent commercial real estate loans at US banks have hit their highest level in a decade. 2. US bank stocks have collapsed to all-time lows when measured against the S&P 500 index. 3. Jamie Dimon and his family will sell $141 million of JPMorgan stock in 2024. 4. US banks are sitting on an estimated $650 billion in unrealized losses on their bond holdings. 5. The 60+ days delinquency rate of the subprime-backed ABS that Fitch tracks rose to 6.1% in September… this represents a RECORD. These are the facts. And sometimes the facts are served cold. – Gold Telegraph
Connect the dots and it spells some bad times IMHO. BAD — Delinquent commercial real estate loans at US banks have hit their highest level in a decade BAD — US banks are sitting on an estimated $650 billion in unrealized losses on their bond holdings. BAD – The 60+ days delinquency rate of the subprime-backed ABS that Fitch tracks rose to 6.1% in September… this represents a RECORD. Just keep watching and understand for now the trend is not good. Floridanow1

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