Taps Coogan – April 9th, 2021

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The following chart, from Jeroen Blokland, reveals that the CPB World Trade Volume Index hit fresh new all-time highs in January 2021, the latest month for which data is available.

Unlike after the Global Financial Crisis, when it took years for global trade to fully recover, global trade volumes are already hitting all time highs, pushing the costs of goods and shipping services through the roof. Even lowly wooden shipping pallets are becoming a hot commodity as the flood of stimulus spending and helicopter money supercharges demand for imported goods despite 18 million Americans still being out of a job.

As they say, truth is stranger than fiction.

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