Sunday, August 14, 2016

Buried By Lying Schmucks

When you're too fucking lazy to check facts then you deserve to get buried...

Forbes August 12, 2016

The last time Maersk delivered its profits it set off a hullaballoo about how global trade was crashing to a halt and that we were all entirely, well, I can’t say what entirely as Forbes is a family magazine fucked.

Ground Zero for this sort of reporting was our old friend Zero Hedge, as it would be when there was a possibility of misunderstanding something in order to predict looming disaster. I at the time, rather heatedly in fact, pointed out that this was nonsense. It was the price of shipping that was changing, not the volume of it.

"The Danish shipping and oil group said net profit fell to $101 million in April-June, lagging a forecast of $196 million. It was also around 90 percent lower than the $1.069 billion reported for the same period last year"

Data from World Trade Organization. Global Merchandise Exports (Year over year % change) over the past 30 years, through the end of 2015:

The Marine Shipping stock index:

Dow Theory Non-Confirmation on an historically unprecedented scale...

Dow with Railroad stocks:

Canadian Pacific: