Monday, October 1, 2012

Global Trade Slows; Global Economy Deflating

Monday October 1, 2012 Wall Street Journal p. A1: "Trade Slows Around World: Declining Growth in Exports Dims Prospects for U.S. Economy; Europe Cuts Imports"

[Excerpted] Global trade is stalling, dimming prospects that exports will buoy the U.S. economy in the coming months....  

U.S. exports to the European Union fell in July after largely holding up for two years, while overall export growth slowed.... The Port of Los Angeles, the nation's largest, said the volume of loaded outbound containers fell 10.% in August from a year earlier....

Shanghai, the world's largest port by volume, saw a 6% decline in shipping containers passing its quays in August, compared with a year earlier....
[end excerpt]

Majia here: Europe's economy is slowing because of enforced austerity. Enforced austerity will collapse the global economy as demand evaporates.

Our entire global economy is irrationally predicated on continuous growth. Lack of continuous growth means collapse.

Our global economy needs to be re-organized around sustainability and jobs must be decoupled from the endless pursuit of more production and consumption.

Jobs could be organized around improving livelihoods and communities, rather than expanding consumption.

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