Recession: Learn to Enjoy It

2002 poses macro-economic questions on shipping more than any year since the Asian crisis or before that the global recession of 1991. One can come up with all the creative financing or the best niche trade in the world but without incorporating the global economic view in the calculations, there is really no way to be confident that one’s contingency plans, the worst case scenarios utilized in the financial calculation, are adequate to ensure survival in the face of crisis.

Of course not everything can be truly accounted for, just look at September 11th, Argentina and Enron. Yet the basics can be accounted for. So, while the risk profile is much different today than prior these events, if there are no catalysmic events this year, what are the “basics” today?

This is only an excerpt of Recession: Learn to Enjoy It

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