The Death Of Air Freight? Not Exactly!

摘要

Reading the trade press in recent weeks, especially the forecasts of some consulting firms, makes clear to this participant that the current circumstances of the air freight and express industry, and the chances for a return to growth, have been misinterpreted. With oil now trading under $60 per barrel, plus the strong medicine that the US is taking to rectify the credit crisis, and a bail-out package to help undeserving Detroit to fund a modernization program to build efficient small cars, the US economy will respond strongly under the Obama Administration to a recovery in confidence by late 2009. The way forward from now until that recovery kicks in, however, will be very painful. Many observers don't understand that the volatility and generally downward direction of the US stock market is a direct result of hedging, speculation, and other irresponsible financial behavior by investment banking firms and speculators worldwide. The high yields available via securitization of mortgages, and the speed at which both US and foreign institutions purchased these securities in order to improve their own bottom-line performance, represent greed and irresponsibility at their very worst. However, as the stock market has indicated, the deleveraging of these positions is well underway, and many say we are near the bottom. Lets hope so!