{"id":10331,"date":"2015-07-23T17:21:11","date_gmt":"2015-07-23T22:21:11","guid":{"rendered":"http:\/\/olduvai.ca\/?p=10331"},"modified":"2015-07-23T17:21:11","modified_gmt":"2015-07-23T22:21:11","slug":"us-recession-imminent-world-trade-slumps-by-most-since-financial-crisis","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=10331","title":{"rendered":"US Recession Imminent &#8211; World Trade Slumps By Most Since Financial Crisis"},"content":{"rendered":"<h3 class=\"title\"><a href=\"http:\/\/www.zerohedge.com\/news\/2015-07-23\/us-recession-imminent-world-trade-slumps-most-financial-crisis\" target=\"_blank\">US Recession Imminent &#8211; World Trade Slumps By Most Since Financial Crisis<\/a><\/h3>\n<p><em>As goes the world, so goes America (according to 30 years of historical data)<\/em>, and so when world trade volumes drop over 2% (the biggest drop since 2009) in the last six months to the weakest since June 2014, the &#8220;<strong>US recession imminent&#8221; canary in the coalmine is drawing her last breath<\/strong>&#8230;<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2015\/07-overflow\/20150723_USRECESSION.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2015\/07-overflow\/20150723_USRECESSION_0.jpg\" alt=\"\" width=\"600\" height=\"302\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/wolfstreet.com\/2015\/07\/22\/global-trade-drops-most-since-2009-cpb-merchandise-world-trade-monitor\/\">As Wolf Street&#8217;s Wolf Richter adds<\/a>,\u00a0<strong>this isn\u2019t stagnation or sluggish growth. This is the steepest and longest decline in world trade since the Financial Crisis.<\/strong>\u00a0Unless a miracle happened in June, and miracles are becoming exceedingly scarce in this sector, world trade will have experienced its first back-to-back quarterly contraction since 2009.<\/p>\n<p>Both of the measures above track import and export\u00a0<em>volumes<\/em>. As volumes have been skidding, new shipping capacity has been bursting on the scene in what has become a brutal fight for market share<em>[read\u2026\u00a0<a href=\"http:\/\/wolfstreet.com\/2015\/06\/17\/shanghai-china-containerized-freight-index-collapses-top-carriers-maersk-price-war-to-form-global-shipping-oligopoly\/\" target=\"_blank\">Container Carriers Wage Price War to Form Global Shipping Oligopoly<\/a>].<\/em><\/p>\n<p>Hence pricing per unit, in US dollars, has plunged 14% since May 2014, and nearly 20% since the peak in March 2011. For the months of March, April, and May, the unit price index has hit levels not seen since mid-2009.<\/p>\n<p><a class=\"image-anchor\" href=\"http:\/\/wolfstreet.com\/wp-content\/uploads\/2015\/07\/World-Trade-Monitor-Unit-Price-2012-2015_05.png\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-16492 size-full\" src=\"http:\/\/wolfstreet.com\/wp-content\/uploads\/2015\/07\/World-Trade-Monitor-Unit-Price-2012-2015_05.png\" alt=\"World-Trade-Monitor-Unit-Price-2012-2015_05\" width=\"476\" height=\"470\" \/><\/a><\/p>\n<p><strong>World trade isn\u2019t down for just one month, or just one region. It wasn\u2019t bad weather or an election somewhere or whatever. The swoon has now lasted five months.\u00a0<\/strong>In addition, the CPB decorated its report with sharp downward revisions of the prior months. And it isn\u2019t limited to just one region. The report explains:<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US Recession Imminent &#8211; World Trade Slumps By Most Since Financial Crisis As goes the world, so goes America (according to 30 years of historical data), and so when world trade volumes drop over 2% (the biggest drop since 2009) in the last six months to the weakest since June 2014, the &#8220;US recession imminent&#8221; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1601,312,3761,391,452,505,1264,805,827,834,7485,4318],"class_list":["post-10331","post","type-post","status-publish","format-standard","hentry","category-economics","tag-eastern-europe","tag-financial-crisis","tag-global-trade","tag-growth","tag-japan","tag-market-share","tag-recession","tag-trade","tag-united-states","tag-us","tag-world-trade","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/10331","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10331"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/10331\/revisions"}],"predecessor-version":[{"id":10332,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/10331\/revisions\/10332"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}