Editor: Amnesia or Deja Vu?

Its not like we did not tell you so but last month this editor did note that “between the writing of this and the issue being delivered…something huge will occur”. Well multiple big stories hit with gusto. Some shipping related and some with an ancillary effect but still important.

Of particular interest is the fact that the US gross domestic product actually grew in Q4 2001. Granted this was due to stronger than expected consumer demand fostered by companies slashing margins in order to stay afloat and a 10% increase in government spending post the events of September. But nevertheless, the result was a positive surprise that nobody predicted to happen so early. Last month this Editor did predict that the US economy would recover in the second quarter 2002 and lead the rest of the world out of recession. This looks even more likely today, barring some meltdown of the Yen, than just a few weeks ago – and the shipping markets often lag a recovery by four to six months.

This is only an excerpt of Editor: Amnesia or Deja Vu?

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