Friday, November 14, 2008

Food shortages next?

London Banker explores the implications of the drying-up of letters of credit. Stock that larder extra well until you've heard the problem has been fixed.

4 comments:

dearieme said...

I've got a tin of peaches. ;)

Sackerson said...

Found it "walking on the beaches looking at the peaches"?

Nick Drew said...

The recent 93 percent collapse of the Baltic Dry Index (the cost of chartering bulk cargo vessels) ...has caused a bit of a stir

well it shouldn't have

& obviously no-one likes a smart-arse, but ...

"shipping freight rates (a major component in bulk commodity prices over the past few years) will collapse"

entirely predictable - and predicted !

Sackerson said...

Full marks, Nick. What do Greek shipping magnates do at times like these?