So The Economy Is Good eh?


What are the Dow and the stock markets latest reports ?  I don’t know but I’m sure its all good and the Bull is still charging?

In fact here in Kuala Lumpur, the KLSE (Bursa Malaysia) is having a gala run – The Bursa Bull Charge around the city and many roads are closed causing traffic jams! I have no idea what the event is all about but it sure is a celebration of sorts. Why they insist to have it on a working day beats me.

about_bursaevent

Looks and sounds like everything is fine here in Malaysia and that the economy is still great given the multi-billion corruption around the 1MDB scandals, GST, dipping Ringgit and oil price.

What’s going on in the heads of Malaysians?

I’m flabbergasted as I just finished reading this Financial Times report:

Shrink the big container ship to fit the world

Its reporting about the seventh largest container shipper Hanjin  gone bust. broke…kaput!

The bankruptcy of Hanjin Shipping, the world’s seventh-largest operator, has made the mismatch of ambitions and reality very clear. This was supposed to be the age of the ultra-large container ship, piled with thousands of steel boxes holding clothing, toys and Apple iPhone 7s. The world turns out to need smaller ships, or fewer of them.

Do readers understand that?

The shipping industry have been hit hardest in the current economic crisis and the BDI dipped to its all time low.

People are reading the wrong messages.

Central banks have focused most of their efforts on levitating the Dow as well as energy markets for some time now.

Why? Because the general public does not pay attention to any other market indicators. They do not care that equipment giant Caterpillar is having the worst profit period in the company’s history. They do not care that the Baltic Dry Index, a measure of global shipping rates and thus a measure of global orders for raw goods, continues to bounce around well below its original historic lows due to crashing shipping demand. They do not care that according to the World Economic Forum, oil demand has dropped to levels not seen since 1997. They do not know nor do they care to know. Their only barometer for economic danger is the Dow, and central banks know this well.

Thousands of ships are being destroyed – and it’s terrifying news for the global economy

As the Wall Street Journal reports, about 1,000 ships capable of hauling 52 million metric tons of cargo will be cut up and sold for scrap metal this year. Owners have only ordered 293 vessels this year through July — a stark decrease from 2010 to 2015 when owners were buying 1,450 ships annually.

The reason? A stagnant global economy that stems back to little growth in Europe and a slowdown in China. Chinese imports from the European Union fell 14% last year, the WSJ reports. In the first quarter of this year, Chinese imports from the EU fell 7% from a year prior. Exports to Europe have fallen as well.

When the buying stops the selling stops and the stores close down. The trading of goods in stores, malls and supermarkets are the true indicators of the real economy. The trading has taken a great beating as

Factory Orders Keep Falling

Both The Pacific and The Atlantic oceans are reportedly seeing less ocean freighters (as many ships are sent to scrapyards)…but Wall Street, NYSE and the Dow insist the “tradings” (digital on screens) are bullish …

Anyway, the financial reports aren’t meant to reveal the sufferings of the layman on the street. Its purely to aggrandize scums like Soros, Buffet and their corporate sluts like Gates (of hell) and Suckerberg (a misspell).

What a bullshit .

..

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2 thoughts on “So The Economy Is Good eh?

  1. Pingback: So The Economy Is Good eh? — Satu Insan – Malaysia – ronaldwederfoort

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