Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Tuesday, September 30, 2008

I hear we need shipping

- The credit crunch is sucking liquidity out of global trade and the shipping business, leaving cargoes stranded on docks and threatening to bring down shipyards and ship owners alike.

"The banks have ceased lending and a lack of liquidity affects trade," Stamatis Molaris told Reuters in a telephone interview. "The demand for goods is there; there is just not enough liquidity to move those goods around."

"It has happened to us and it is happening everywhere to everyone," he said. "The whole system has come to a state of chaos."

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