Never Say Ever Again

at

Suez Canal, March 2021

Changchun-Shenzhen Expressway, China, March 2021

Chesapeake Bay , Baltimore, Maryland, USA, yesterday

Last night/this morning.

Via Yahoo News:

Officials were working to free a container ship owned by Evergreen Marine that ran aground near the US capital over the weekend. The incident comes one year ago to the month after another one of the company’s container ships, the Ever Given spent a week stuck in the Suez Canal, causing a massive maritime traffic jam that impacted global trade. The 1,095-foot container vessel, known as the “Ever Forward,” has been stuck since Sunday night, when it tried to head from Baltimore to Norfolk, the U.S. Coast Guard said.

*cough*

Previously: Lock Hard

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20 thoughts on “Never Say Ever Again

  1. Nigel

    Why did you link to a (distressing) story on human trafficking in relation to this? Why did you do it in such an asinine manner?

    Why, if you are concerned about human trafficking, did you put up this story and add the human trafficking element as a nudge-wink footnote as if there’s a connection, when there is, in fact, no connection established anywhere between any of the stories, rather than put up a story, or stories, about human trafficking?

      1. Nigel

        Jesus Christ. Journalism based on handwaving and woo-woo.

        Has a single one of your ‘future proves past’ type connections ever been established as factual? I seem to remember I was promised a ‘reverse ferret’ in relation to the Mueller Report, to give one example.

        1. ANO

          I don’t think he’d ever claim to be a journalist, tbf.

          For the conspiracy minded, it’s always just a matter of an undefined amount of time.

    1. K.Cavan

      Methinks it’s time for you to set up your own website & stop bellyaching, it’s getting very, very old, at this point, Nigel. What type of person constantly haunts a media outlet just to moan & complain? Well, you, obviously but who else would do that? Yours can have the USP of being exactly the same as the rest of the media but maybe just increase the censorship a tad so that literally nobody is allowed to say anything but ”I agree”.
      I think it would work. For me, anyway.
      All in favour?

  2. stephen moran

    Evergreen is a busted flush as is much of the Chinese economy. Shenzhen is in Covid lockdown and the numbers in HK are a horror show. Foxconn is shuttered and talking about moving to SA – Chinese tech stocks are in a tailspin over potential US regulatory actions, the property market is a Ponzi scheme and it makes up 30% of GDP (compared to 8% in the US) and 65% of personal wealth. The country is in no fit state to withstand any sanctions package in retaliation for assisting despot Putra’s Russia.

        1. SOQ

          Yes Janet but the US debt is off the scale- everyone else is miniscule in comparison.

          https://www.tiktok.com/@ratemyplanet/video/7070733277698559259

          Numbers can be crunched until the cows come home but China and Russia owe very little debt to anyone. And, both have huge gold reserves too?

          That may not make a big difference when sanctions are in place but certainly will help them bounce back afterwards.

          1. stephen moran

            Russia can’t get their hands on at least half their reserves and the rest is in gold (which is useless as they can’t sell it – a lot of it may also be stored abroad as the BoE is the biggest repository outside the US and as Russia has bought a lot over the last 2 years its very unlikely they will have taken physical delivery) – or CNY which is also fairly useless as no one wants CNY because as I has previously detailed no one has a CNY a/c- they are virtually impossible to set up as you require an onshore a/c in mainland China with an approved counterparty – the CNY accounts for less than 3% of global trade invoicing. Russia has $150 bn in foreign debt and they have a coupon due tomorrow in $. If they try and pay in Rubles that will be an act of default under the IDSA – if they skip the payment altogether they get 30 days grace – before a formal default is called an everyone rushes to cash out their CDS. Its not the amount of debt you have outstanding that is important – its the maturity profile and your access to $/euro reserves to service this – Russia has lost this access so unless they have put in swap lines with the Bank of China they have a problem – even then swap lines are all $ based as no one wants CNY or rubles least of all the Bank of China

          2. K.Cavan

            If you have any gold there, stephen, I’ll take it off your hands, since it can’t be sold.
            The rest of your missive is based on an old paradigm of unipolarity that recently blinked right out of existence. The handful of democracies that make up The West will eventually wake up to the fact that the nose they’ve just sliced off is their own & their face is gonna be mighty upset about it. We’re sawing away on the wrong side of the branch.
            I wonder how many oligarchs of any nationality will be doing business in London or The City, given that they can have their assets seized, without being found guilty of anything or even being charged, just based on their ethnicity.
            I used to suspect that the quality of our political class was diminishing, over time. We’re at peak idiocy, right now.
            Get your money out of Taiwan, soonest.

      1. stephen moran

        It’s called vendor financing – just like petrodollars. China exports lots of stuff to the US – China has a massive positive trade surplus with the US – therefore China accumulates massive $ reserves – China recycles these into US dollar assets which keeps American short and long term interest rates lower than they would otherwise be and US consumers can then afford to buy lots more stuff from China as their disposable income is higher than it would otherwise be- rewind repeat – no exit stage left – its a symbiotic relationship – the China lends Americans the money to buy their goods – it never gets repaid – it just gets rolled over and over and goes around and around

        1. K.Cavan

          All fine & dandy until interest rates rise & that’s the only direction they can go. China will just have to make do with supplying the rest of the world, I suppose. The Petrodollar is history, the sanctions imposed by the West will make that, Wall St & the entire, bankrupt Western banking system shrink, if not collapse. I’m betting on collapse, time to short.
          It’s a new day, it’s a new dawn…

          1. stephen moran

            Keep drinking the ZH cool aid – Yeh lets party like its 1917 comrade – Russia has an appointment with the financial stone age but I have a feeling the “Vampire Squid” will do just fine out of all this. Capitalism and markets have always found a way and they always will – good old Joseph Schumpeter and a bit of creative destruction Darwinism for the weak then its back to bizz as usual

      2. K.Cavan

        The Bush Doctrine saw the US decide that Liberalism had to be enforced on Afghanistan, Iraq, Libya, Syria & Egypt. Apart from a short period in the latter, it was a huge, expensive disaster. Everybody hates America & it appears not to be too fond of itself, either. Irish people see Uncle Sam in a different light to how the majority of the planet does, if the way US representatives were being shouted at on Indian TV is any indicator. It pumped $5 billion into the two coups in Ukraine, now look at the mess it’s created there, because it’s still stuck in a Cold War mentality & it’s constantly-changing leadership can’t match Putin or Xi for long-term planning, those guys can’t just leave a mess for the other lot to clean up & both operate for the benefit of their nations, rather than being wedded to an infantile, anti-intellectual dogma that can’t stand up to any rational scrutiny. Their leaders are old & incompetent, their assistants & executives are young, woke & badly educated. They’ve been printing so much money recently that even Modern Monetary Theory can’t spin a yarn wide enough to get their fat asses out of this tailspin. I’ve never been a fan of their militaristic imperialism but as Leonard Cohen said ”you won’t like what comes after America”.
        On the other hand, the US can just drill & pump their way out of this, in current account terms anyway but what about Europe, we have nothing to drill or pump, we will pay dearly for continuing to be America’s vassals, when that tactic stopped making sense 30 years ago. Look, if you dare, at the calibre of leader we have to guide us through this upcoming crisis, van der Layen & new German Chancellor, Scholz are not even average, capable politicians.
        Liberal Hegemony is a non-runner in a Multipolar world.
        Knuckle down folks, it’s about to get bumpy,

    1. K.Cavan

      You know when the boss looks over your shoulder, so you just do anything to look busy?
      I hate that. Whoops, here she comes.

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