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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