{"id":37174,"date":"2018-08-30T08:11:32","date_gmt":"2018-08-30T13:11:32","guid":{"rendered":"http:\/\/olduvai.ca\/?p=37174"},"modified":"2018-08-30T08:11:32","modified_gmt":"2018-08-30T13:11:32","slug":"these-4-charts-show-how-world-trade-has-collapsed-in-just-one-year","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=37174","title":{"rendered":"These 4 Charts Show How World Trade Has Collapsed In Just One Year"},"content":{"rendered":"
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These 4 Charts Show How World Trade Has Collapsed In Just One Year<\/a><\/h3>\n

Lately, nothing seems able to shake Wall Street\u2019s bullish attitude<\/a>.<\/p>\n

Investors and the mainstream continue to still<\/em> ignore the worsening trade war \u2013 which is evolving into a currency war<\/em><\/a> \u2013 with China.<\/p>\n

But since early May \u2013 we at Palisade have maintained that there\u2019s going to be a worldwide earnings recession sometime in summer 2019. . .<\/p>\n

I haven\u2019t been shy writing about this topic \u2013 and if you haven\u2019t read my thesis of why <\/i>I think this\u00a0yet, you can check it out here<\/a> \u2013 and here<\/a>.<\/p>\n

If you looked at the markets enthusiasm today \u2013 and share prices \u2013 you\u2019d think I was dead wrong.<\/p>\n

But if you look between the lines<\/em> \u2013 things are getting even worse for global corporations.<\/p>\n

Goldman Sachs recently published some damning<\/em> data that only bolsters my global earnings recession hypothesis. . .<\/p>\n

To summarize: world trade has continually declined since early 2017 \u2013 long before the trade war talks \u2013 and the recent data only suggests this trend is worsening.<\/em><\/p>\n

The U.S. Dollar has rallied significantly since March of this year \u2013 after declining nearly 15% between January 2017 and February 2018.<\/p>\n

This paired with the Federal Reserve\u2019s tightening has created chaos for the emerging markets and their currencies throughout much of 2018.<\/p>\n

And yet, instead of weaker currencies boosting<\/em> foreign exports, things have only worsened since. This signals that there\u2019s a deceleration in world wide demand.<\/p>\n

Just take a look at the following charts. . .<\/h4>\n

If you study the growth of \u2018global air and sea freight volumes\u2019 year-over-year (YoY), there\u2019s significant declines over the last 24 months \u2013 especially for air freight volume. It recently dipped into negative YoY growth.<\/p>\n

\"\"<\/p>\n

Making matters worse \u2013 China\u2019s economy has slowed down considerably the last couple of years. This no doubt has affected world trade.<\/p>\n

But it\u2019s not just China that\u2019s seeing a slowdown in trade activity. . .<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

These 4 Charts Show How World Trade Has Collapsed In Just One Year Lately, nothing seems able to shake Wall Street\u2019s bullish attitude. Investors and the mainstream continue to still ignore the worsening trade war \u2013 which is evolving into a currency war \u2013 with China. But since early May \u2013 we at Palisade have […]<\/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":[21452,376,19915,805,839,860,7485],"class_list":["post-37174","post","type-post","status-publish","format-standard","hentry","category-economics","tag-adem-tumorkan","tag-goldman-sachs","tag-palisade-research","tag-trade","tag-us-dollar","tag-wall-street","tag-world-trade"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37174","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=37174"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37174\/revisions"}],"predecessor-version":[{"id":37175,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37174\/revisions\/37175"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}