August 16, 2012
EWI has told us for years that the degree of the ongoing bear market from 2000 viewed through the lens of the DJI divided by gold, i.e., real money, is the largest in centuries. Socionomically, then, mood should wax to an extreme negative reading and attendant events should reflect that large degree. For example, think of the several century-plus-old firms that went bye-bye in 2008 – Lehman Bros comes to mind: born 1850, died 2008. Well, it looks like the bear market’s impact is still present, given this news from just the other day:
Aug. 9 (Bloomberg) — The world’s oldest shipping company sold its last vessel and is going out of business. Stephenson Clarke Shipping Ltd., started in 1730, has been placed into liquidation…. “While previous economic downturns have been weathered, the current market is one of the worst experienced for many years, with no upturn forecast for at least 12-18 months,” the shipping company said in the statement.
If you happen to be the captain of a big, old boat like Stephenson Clarke, we hope that you begin your turn away from danger long before the rocks are unavoidable.
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