Shipping fact of the day

China’s slowing growth has crushed shipping rates to such an extent that hiring a 1,100-foot merchant vessel would set you back less than the price of renting a Ferrari for a day.

There is more here, via Jesse Colombo and Marc Andreessen.  And here is James Hamilton on how and whether low oil prices can cause a recession.  I’d like to see someone put this together with various (dubious) claims about “the macroeconomics of inequality.”