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Reply #7: There is an article posted over in the economics forum stating that the global shipping [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010)

Greyhound

(1000+ posts) Send PM | Profile | Ignore

Sun Feb-15-09 04:57 PM
Response to Reply #4

7. There is an article posted over in the economics forum stating that the global shipping

rate hit zero last month. Nothing is moving, warehouses are full, ships are sitting idle, and nothing beyond bare necessities is being sold. We have an economic gridlock.

This is what has Krugman and most economists so freaked out. This does cause a deflationary spiral as companies keep lowering prices to get rid of inventory, while closing down production, which leads to fewer people having any money to purchase goods which keeps inventories high, which...

There is a $2.9T gap this year and $750B will not bridge it, even if all of it were to come in at the bottom, which of course, it is not.

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