The Ghost Fleet of the Recession

You've got to check out the picture here.

The biggest and most secretive gathering of ships in maritime history lies at anchor east of Singapore. Never before photographed, it is bigger than the U.S. and British navies combined but has no crew, no cargo and no destination - and is why your Christmas stocking may be on the light side this year.
It is so far off the beaten track that nobody ever really comes close, which is why these ships are here. The world's ship owners and government economists would prefer you not to see this symbol of the depths of the plague still crippling the world's economies.
So they have been quietly retired to this equatorial backwater, to be maintained only by a handful of bored sailors. The skeleton crews are left alone to fend off the ever-present threats of piracy and collisions in the congested waters as the hulls gather rust and seaweed at what should be their busiest time of year.

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actual picture

ghost fleet
Src: Richard Jones, Sinopix

Pretty damn amazing, but also amazing how global trade is busy spending a lot of costs, energy, just to get goods made with cheap labor too. How much does that add to the costs, to ship around the globe cheap goods?

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It turns out that Singapore isn't the only place for ghost fleets. It is happening all around the world.

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Hoover dudes blast Stimulus in WSJ, say didn't work worth a damn

I haven't checked these numbers and I think ya all know by now that I believe the Stimulus wasn't going to work because it wasn't true Keynesian, they ignored a host of good infrastructure, money is pouring offshore, jobs are moving offshore and so on (w/ taxpayer funds).

But here are some economists from the conservative think tank Hoover institute, claiming it didn't work at all.

They crank through a lot of numbers in the op-ed.

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