Revealed: The ghost fleet of the recession anchored just east of Singapore

[miniMUNCH]

Economics is one of the things i will never argue on the internet... most people are not capable of understanding macroeconomics.

 

[Greenman]

Originally posted by: miniMUNCH
most people are not capable of understanding.

Fixed that for you.

 

[CallMeJoe]

Originally posted by: PokerGuy

Originally posted by: miketheidiot

Originally posted by: PokerGuy

Originally posted by: Ausm

Originally posted by: Fear No Evil
So George Bush ruined the economy of the entire world?

Technically it started with Reaganomics and the GOP ideology of deregulation.

Yes, because the economy was doing fantastic under Carter. That stagflation was a hoot, we should all strive for that again!
Idiot.

its wasn't carters fault nixon caused stagflation

Riiiiight. :roll:

Do some reading on President Nixon's wage and price controls, then try again to blame anyone else for the stagflation of the '70s. While you're on this history lesson, look into President Ford's lame "Whip Inflation Now" program that consisted primarily of cute little WIN buttons...

 

[kylebisme]

Originally posted by: shira

Originally posted by: kylebisme

Originally posted by: Fear No Evil
So George Bush ruined the economy of the entire world?

Bush was just a patsy.

Uh oh. Let me guess - there was a conspiracy.

No, people never conspire to benefit themselves at the expense of others, to even imagine as much is absurd. :roll:

Originally posted by: shira
Oooo, and notice that "conspiracy" is "cons" plus "piracy." And the article mentions piracy. Which means that Bush was a pirate - a patsy pirate.

Shiver me timbers!

Bush most obviously wasn't a pirate, as if he were, that would have reduced global warming and prevented earthquakes and huricanes.

 

[bfdd]

Originally posted by: CallMeJoe

Originally posted by: PokerGuy

Originally posted by: miketheidiot

Originally posted by: PokerGuy

Originally posted by: Ausm

Originally posted by: Fear No Evil
So George Bush ruined the economy of the entire world?

Technically it started with Reaganomics and the GOP ideology of deregulation.

Yes, because the economy was doing fantastic under Carter. That stagflation was a hoot, we should all strive for that again!
Idiot.

its wasn't carters fault nixon caused stagflation

Riiiiight. :roll:

Do some reading on President Nixon's wage and price controls, then try again to blame anyone else for the stagflation of the '70s. While you're on this history lesson, look into President Ford's lame "Whip Inflation Now" program that consisted primarily of cute little WIN buttons...

oh what i would give for a win button...

 

[JeffreyLebowski]

Originally posted by: Ausm

Originally posted by: Fear No Evil
So George Bush ruined the economy of the entire world?

Technically it started with Reaganomics and the GOP ideology of deregulation.

Actually, it happened because of the housing boom and subsiquent collapse. This all actually started under Carter with the CRA (Community Reinvestment Act) This paved the way for sub prime loans and forcing banks to give loans to low income people. They were threatened with loosing FDIC backing if they didn't comply. Then the subprime market really went wild under Clinton because Dems kept trumpeting Home Ownership as a fundamental right, and when Repubs tried to speak out against it they were treated with typical Dem retort in the Dems yelling and calling them racists.

But nice try trying to blame Bush when all he did was inherit someone elses problem. Sound familiar???

 

[Thump553]

Since this thread has been throughly hijacked by FNE's preemptive strike to blame various former Presidents for our current economic woes, let me add my two cents-as someone who lived through those decades as an adult and as a former economics major. Blaming Nixon, Carter, Ford, etc. is really misplaced-they were all reacting to inflation started by LBJ-with his guns and butter philosphy. LBJ refused to raise taxes to pay for Vietnam and the resulting inflation reached nearly hyperinflation levels by the late 1970s (mortgages-for good credit risks-reached 17-18%, fixed mortgages almost impossible to find at any price, CDs paying almost the same rate of interest). Nixon and Ford especially pursued some bonehead plans to fix it (WIN buttons, Nixon's wage and price freezes, etc).

By the end of Carter's era, collectively, the sitting Presidents had finally done enough to get inflation basically under control, which is has essentially been to this day. Except for the deep seated anathema to inflation at the Fed and our national government, all of this is basically ancient history and had little relevance to our current economic woes.

 

[Amused]

Originally posted by: BarrySotero
Ships have been located at that point for a long time. The pics of "ghost fleet" are a bit exaggerated (like the pics of polar bears floating on ice that's described as melting).

http://www.intellectualpornogr...leet-of-singapore.html

Funny how this post is ignored...

People like hype and hysteria I guess.

 

[Thump553]

Originally posted by: Amused

Originally posted by: BarrySotero
Ships have been located at that point for a long time. The pics of "ghost fleet" are a bit exaggerated (like the pics of polar bears floating on ice that's described as melting).

http://www.intellectualpornogr...leet-of-singapore.html

Funny how this post is ignored...

People like hype and hysteria I guess.

Personally I ignored it because it absolutely conflicts with the local eyewitness reports in the article:

Local fisherman Ah Wat, 42, who for more than 20 years has made a living fishing for prawns from his home in Sungai Rengit, says: 'Before, there was nothing out there - just sea. Then the big ships just suddenly came one day, and every day there are more of them.

BarrySotero cites no facts to support his statement. Given his past posts I presume it is the case of not wanting facts to intefer with a preset political agenda.

 

[GroundedSailor]

Originally posted by: Amused

Originally posted by: BarrySotero
Ships have been located at that point for a long time. The pics of "ghost fleet" are a bit exaggerated (like the pics of polar bears floating on ice that's described as melting).

http://www.intellectualpornogr...leet-of-singapore.html

Funny how this post is ignored...

People like hype and hysteria I guess.

To be honest there is some truth in that blog, however even in good times that area has always had ships waiting for one reason or the other, be it waiting for orders, waiting for new charters, tank or hold cleaning, there's many reasons why ships wait there. The difference is now there are a lot of ships in long term lay up and unmanned. This is not the usual use of that area.

Also there are many other places in the world where ships wait or are laid up. Shipping has definitely been hit hard by the recession, perhaps harder than other industries. Many charters rates fell to below 10% of their rates when the recession hit.