A few months ago, amid all of the headline warnings about inflation and prices of essential products, CTH noted that if we were to continue waiting about six months, we would see a massive backlog of unsold goods and as a consequence the prices of non-essential durable goods would begin a rapid decline.
Keep in mind, this is not necessarily a collapse of total global economic activity; what we are seeing is a collapse of western nation economic activity that is impacting the rest of the world.
Maersk is the international shipping company that delivers millions of containers of goods all around the world, mostly by ship.
They are warning that warehouses are full of previously delivered goods, unsold consumer durable goods, as retail sales have come to a standstill.
COPENHAGEN, Aug 3 - Shipping group Maersk expects global container demand to fall this year as sales of durable goods come to a "Standstill", leaving flat-screen TVs and furniture piling up in warehouses, the company said on Wednesday.
"Sales of durable consumer goods have come to a standstill," Chief Executive Soren Skou told journalists at the company's headquarter in Copenhagen.
Western nation inflation is being driven by higher energy costs as a result of less energy products being produced, oil, coal, gas.
It's becoming increasingly difficult to discern fact from fiction, and unfortunately the media has a strong bias. They spin stories to make conservatives look bad and will go to great lengths to avoid reporting on the good that comes from conservative policies. There are a few shining lights in the media landscape-brave conservative outlets that report the truth and offer a different perspective. We must support conservative outlets like this one and ensure that our voices are heard.
Wednesday, August 3, 2022
Western Nation Economic Recession, Maersk Shipping Group Forecasts Weak Shipping Demand as Warehouses Fill with Unsold Durable Goods
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment