Peter Schiff Interwiew Today by Lew Rockwell
To reciprocate: I don’t know if same in other areas of this planet but we have growing mountains of cardboard boxes here in UK because China doesn’t want them anymore. Hence price has fallen so UK Gov are thinking of storing them in old military buildings locations. I thought that strange at first: Does that mean China is the only exporter of consumed goods??? I do know that shellfish caught in the North sea are shipped to China to be deshelled and then shipped back to the UK (yep – world gone mad).
Then the jewel I came across courtesy of a poster on the telegraph site who criticised an ‘economic reporter’ asking to qoute sources and why not do your job (possibly a valid criticism) and go look at bloomberg Baltic Dry Index (BDI) or Reuters and look at the disaster. This ties in with the above, China takes consmed products waste and then reships more (IMO) useless products (at least 80%????) that people will just throooow awaaay.
Anyway, I had a look at the BDI. Wiki is updated and look at the figures!!!
"On 21/04/08 the index reached its record high level since its introduction in 1998, reaching 11793 points. Less than half a year later, on 04/12/08, the index had dropped by 93%, to 815 points, the lowest since 1999. These low rates move dangerously close to the combined operating costs of vessels, fuel, and crews"
[DATES ARE UK FORMAT]
This is the only location I have of stats that show true figures (as mentioned in the Wiki article and other places) that are not subject to manipulation AFAIU.
Hope that helps people here.
That’s a great link LB, thank you
BTW .. you can use that cardboard to start a worm farm .. it’s their favorite food