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Planet Money

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Business, News & Politics

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Top 200 21

The economy, explained, with stories and surprises. Imagine you could call up a friend and say, "Meet me at the bar and tell me what's going on with the economy." Now imagine that's actually a fun evening. That's what we're going for at <em>Planet Money</em>. People seem to like it.

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#165 Planet Money: Shipping Is Underwater

April 2nd, 2010

Episode 257 of 910 episodes

So there was a big shipping bubble that inflated about the same time the housing bubble did. It grew for some similar reasons — a go-go economy, easy credit, a belief that prices never decline, etc. And, like housing, it's now turned ugly. Ships that cost more than $100 million a few years back now go for $40 million — and the rates for freight have fallen accordingly. Ship owners have gone bust, and their ships have been taken by the bank and sold at auction.

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