[T]he global financial and economic crisis has stifled the boom in container shipping, and it has happened almost overnight. For the first time in its history, the industry has stopped growing and, in fact, is shrinking. In the first six months of this year alone, the shipping industry declined by close to 16 percent.
Accompanying the article is this telling graph:
The Obama Administration and its supporters in the media are fond of saying the economy is showing signs of recovery. Shipping figures are a reflection of global demand for good, and those numbers continue to point to declining demand. In a consumer-driven global economy, declining consumption is not a sign of recovery. Quite the contrary, in fact.