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marginalrevolution.com - 1/26/2009
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One of the things that I do find very disturbing about this recession is that it is worldwide. World trade may fall this year for the first time since 1982. As I argued earlier , the problem goes beyond any credit crunch, which according to the story below has been solved for trade. ...
ing.com - 1/26/2009
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ing.com —
Amsterdam, 26 January 2009 ALL DATA BASED ON
PRELIMINARY AND UNAUDITED FIGURES ING announced today that it...
is taking measures to counter the implications of the persistently challenging economic and market conditions. In order to adapt the ...
(more)
ING update on results and measures to reduce risk and costs
economicdiscourse.com - 1/27/2009
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economicdiscourse.com —
A crushing blow was delivered to the job
market today as major corporations announced 72,500 layoffs....
(more)
Links 1/26/2009 - 72,500 Job Losses Today, ING CDO Fund ...
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Monday links: an act of faith
Abnormal Returns —
... The global slowdown is going to shrink world trade and the emerging economies. (Marginal Revolution , ...
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self-evident —
From the Telegraph (via Marginal Revolution):
Freight rates for containers shipped from Asia to Europe have fallen to zero for the first time since records began, underscoring the dramatic collapse in trade since the world economy buckled in October.
Click through to the Telegraph article to admire the picture.
On the bright side, the Baltic Dry Shipping Index seems to have bottomed. Zero provides a natural floor…
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