1342View
15m 26sLenght
16Rating

Economists / Politicians / Media personalities keep on quoting GROWTH numbers; for example, they tell us that China will experience 7-8% growth this year. In a 15 Trillion dollar Economy that would equate to almost $100 billion dollars of Economic growth in just one year! However the numbers that matter, such as their power and energy consumption data, and more importantly the shipping data reveal a completely different story! If every nation that matters has been slowing down for the past 5 years, where has this growth been coming from? It is far more logical to conclude that the Global Economy is Receding, is in a RECESSION, it is not growing. The facts on the ground are loudly screaming that the Global Economy is Collapsing not growing! Given the Economic disaster that is Europe, the biggest consumer of Chinese goods, and the disaster that is Japan, with it's manufacturing in the toilet, and the disaster that is the US where the retail sector is nowhere near 2007 levels, how can there have been growth in any Economy? Though the numbers that defy logic may claim there is growth, the numbers that matter such as the Baltic Dry Index which is a measure of the shipping industry reveal that things are getting worse, much worse, not better. The BDI has slid 55% this year alone, and that shows clearly that international trade is grinding to a halt. Shiploads of Chinese goods are no longer making their way to European shores, or to American ones. And the ships that do make it to these ports, are returning home empty not laden with European or American goods for the Chinese markets. This is why even the oldest shipping firm in the world was forced to close it's doors after nearly 300 years in business! And many more firms are bound to follow suit!