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it seems pretty obvious that as credit lines dry up that bulk shipping is going to take a hit, and that it is more visible and worrisome than parallel developments in container movements. letters of credit were the devices that made the Wheel turn back in the day when i worked in this sector....so this is an index that gives some indication of activity at the level of raw materials movement, and so is an indication of the consequences of the credit crisis on manufacturing. for anyone with a trace of residual marxist in em, watching this index tank is watching the wall move closer and closer.
freight movement also appears to be at the center of its own futures trade, yes? the bi tracks motion within this trade and not the actual movement of shipping, yes? what is the relation between these two exactly? i know that, for example, maersk is pulling some of its newer bigger bulk ships outta the water for a few months, so things are obviously tightening. and lloyd's has an article (which i could read all of because i'm too cheap to subscribe) that german insurers are starting to freak out about what they see coming in this sector.
the regular movement of materials and such is the blood stream of the present capitalist order. nothing good for it will come of a freeze in the movement of goods. i wonder if the system can afford to putz about between now and 22 january, when presumably things will Change once obama's crew of neoliberals is....wait....um.....
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a gramophone its corrugated trumpet silver handle
spinning dog. such faithfulness it hear
it make you sick.
-kamau brathwaite
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