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Caught On Tape: China Commodity Barge Sinks In Seconds
As those who follow China's hard landing economic deceleration closely are no doubt aware, Beijing has an excess capacity problem. Recall the following from a report released last month by Daiwa's Institute of Research:
The sense of surplus in China’s supply capacity has been indicated previously. This produces the risk of a large-scale capital stock adjustment occurring in the future. Chart 6 shows long-term change in China’s capital coefficient (= real capital stock / real GDP). This chart indicates that China’s policies for handling the aftermath of the financial crisis of 2008 led to the carrying out of large-scale capital investment, and we see that in recent years, the capital coefficient has been on the rise. Recently, the coefficient has moved further upwards on the chart, diverging markedly from the trend of the past twenty years. It appears that the sense of overcapacity is increasing.
Fortunately, China is adept at coming up with creative ways to "correct" the issue as we saw in Tianjin when a massive (and tragic) explosion at a chemical warehouse vaporized thousands of brand new cars parked near the blast site.
Now, Beijing is apparently working on innovative ways to get rid of unwanted building materials as evidenced by the following video which purports to show a "gravel boat" on a Chinese river...
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Barge Right In!
Gravel? Nice to see that gold isn't the only commodity lost to boating accidents.
I think we tied! Anyway, so ends another rocky adventure!
Ho! Whoah! Good enough, Chen. Just drop the load right there.
Fine work, gentlemen. Fine work. Take the rest of the day off.
I just watched that video again and I have a question. Where was it going? Looks like it was maybe 100 yards from the other shore, cutting almost straight across. Were they just going to run it up on the far river bank and ground it?
I'm assuming there was some gold and silver hidden on that boat. Nothing sinks a boat like the PMs.
Wow. Maybe we SHOULD be patroling off their shores... just to keep an eye on what the lower intellect is incapable of.
Fresh from the assembly line, a brand-spankin new sptatley island is born.
Looks like we're gonna need a bigger destroyer in the s china sea.
Janus
I love how unstaged a lot of these socially-shared vids are. "Look! Someting totally uninteresting, but it's about to flip over/blow up/get the shit kicked out of it so be sure to roll footage on it and share on YouB-Tubin!
But my own retort to my own first-reaction: "DUDE! People roll camera on boring-ass shit that doesn't even blow up, roll over, or get the shit kicked out of it a Brazillian times a day!"
Wasn't it Confucius who said "don't rock the boat"?
Was that boat USS Lassen?
All aboard the failboat!
Krugman must be so fucking proud!
Imagine how many jobs this fuckup will create,
Krugman is Zorg:
https://www.youtube.com/watch?v=Tt1W0F0yObg
That thing was out of control by the start of the video clip. It looks hard to steer under the best of conditions. I think it lost power and was at the mercy of the current.
Where was it going?
Best guess is that the captain originally was trying to get out of the harbor into open sea, and steering starboard (right) which helped cause the beginning of the slant to port. Recognizing the serious problem he most likely ordered full steam ahead and hoped to beach the ship's cargo straight in front. He almost made it. Sad.
>>>Recognizing the serious problem he most likely ordered full steam ahead and hoped to beach the ship....
Correct-O-mundo!(IMHO)
Disagree about the"open sea" though; this was a local.
yep, looked to me like he knew he was in trouble and was trying to beach it to keep it from flipping.
"I just watched that video again and I have a question. Where was it going? Looks like it was maybe 100 yards from the other shore, cutting almost straight across. Were they just going to run it up on the far river bank and ground it?"
I'd say grounding was the idea. Better grounded than what happened. He just couldn't make it in time.
Hey Rand! you stole my thesis!!!
Great minds think alike.
Pffths!
Obviously, you don't understand Krugman economics. China GDP just went up.
The Barge Captain was probably trying to ground the boat as he would have known the load shifted and capsizing was inevitable. I didn't see him come out of the wheelhouse so he probably drowned in there.
Chinese people are funny. For those who've been in China or other Asian countries, you have seen their love for overloading anything. In China, a guy can get more boxes on the back of his tricycle than you can put in the back of your Ford F150. Of course, this is true at all levels. Trucks are destroying the new roads in this high construction areas because they have zero regard for weight limitations and they just load the shit out of those trucks. The mentality is, if it doesn't snap or explode, then it's NOT overloaded.
So, I know exactly how they loaded this barge...the mentality will be "still floating, still floating, still floating....okay, you're good to go"
Keynesian economics explained:
Sometimes islands just build themselves.
Long scuba gear and metal detectors.
Very similar to my boating accident..
Isn't that how it all comes to an end? Slowly at first then all of a sudden it topples over?
Yeah, they say the same thing about bankruptcy lol. As one who used to refine/recover gold as described below and, as a ...thread-jacking troll, I liked what Zero Hedger 'Spumoni' said about two years ago:
"The thing about a closed system is this: quantum events happen. The electron doesn't gradually make its way from the K valence to the L valence-it jumps those angstroms all at once. You don't precipitate the gold from an acid solution of aqua regia gradually - the reaction doesn't happen until the level of sodium metabisufite is enough to trigger the reaction. The fossil record is jammed full of species that failed to adapt to a changing environment - and if the percentage of free oxygen in our atmosphere goes too far from the well-established norm that nobody argues about, then we, my friend, are done. Full stop. If the several hundred billion tons we dump each year into our atmosphere is or isn't what pushed it over the edge, there will be nobody left to argue the point."
http://www.zerohedge.com/news/2014-01-05/jfk-shuts-down-after-plane-skid...
warming warming warming then tada! a changed climate.^ aka Canfield Oceans
Perhaps the barge was enroute to the South China Sea to build some more sand castles to piss off D.C.
arrrrrrrrr Billy there's gold at the bottom of that barge !!
Island building?
What were they sinking!
Sunk costs. Ha
Ridiculous-err
Wee Tu Sunk
Man, for me, and others it looks like, commodities and boating just don't mix!
No need to look at the books to discover that they're underwater!
how noble, captain went down with the ship
building another island
who gets the minieral rights?
Well lots of those high yield bonds in commodity land are indeed underwater.
Oh Baby! There's gonna be some spawning tonight!!
Hey, I need water for my teapot! Ay, Ay Captain, coming right up......
Sum Ting Wong
The smart ass comments probably only come from people who have never worked on the water. People died in that accident. Most people have no idea how dangerous it is to work on tugs, barges and commercial fishing vessels. Stay in your cubicle and STFU.
And SOME people have no idea of what it's like to endure endless doom day in and day out! Sometimes a little tension release is in order.
Untwist your panties!
I understand your feelings, but let's not pretend that this was an accident.
This was the logical outcome for a series of (bad) choices.
A jet ski passing by would have swamped it.
pods
Yes you are correct pods, a passing small craft could possibly have swamped it. The barge looked overloaded. The safety of the barge and crew was the Captain's responsibly and the Captain paid dearly for the bad choices.
Your comment brings up an interesting question about what an accident is. Is it an accident when a driver takes a corner too fast and hits something? Bad choices or accident?
Well that depends on the conditions presented to the driver. Most of the time I would say not an accident. Unplanned sure, but not accidental. A blown tire rounding a corner is an accident. A deer jumping out is an accident.
I think we ascribe the term "accident" to too many happenings today and anything unplanned is deemed an accident when in fact it is the most logical outcome.
pods
We are all slaves to the "man" in some way.
That's really a poor choice for a vessel to pile gravel on that high. It's a shallow draft self-propelled barge contraption that was top heavy as hell loaded like that.
Once the roll started, the shifting gravel kept moving the center of gravity further off center and provided positive feedback in a very bad way.
Once the water started coming onboard it rapidly increased the movement of the center of gravity off centerline.
I worked as a commercial fisherman, I'm still around because i didn't DO something STUPID...
"The captain was just trying to dodge a dead pig floating down the river. Nothing to see here, move along, move along." - Vice Public Security Minister Meng Qingfeng
The captain couldn't steer away from the entitlement iceberg. The bitch went down hitting a climate change entrail of shitbox bullshit.
truly a nightmare scenario for anyone who has a canoe and a panache for precious metals
Shit, now we have one more artificial island that Obama will need to send the US Navy in to test the 12 mile limit.
Missing crew list:
Kap Sai Zing
Me Too Low
Wee Sing King
you can hear the owners speedboat cranking up @ 1:45
Stop the FUD, the plan is to build a highway in the river. Everything works out according to plan of the central planners.
It didnt sink at all it just rolled over
Ya, I too was a bit disappointed by that.
I saw a couple of times in England a half empty petroleum truck (lorry?) do the same thing trying to navigate the smaller roundabouts. Center of gravity is a bitch.
Google "Barge Sinks In Seconds"and you will see its not just the chinese. Even Chicago does it!
It sounded like dick traceys Mumbles was narrating.
Obama turd Barge sinks ships with loose lips.
Luxury Chinese Boat Launches, Sinks Immediately | Zero Hedge
General "Buck" Turgidson: Mr. President, if I may speak freely, the Russkie talks big, but frankly, we think he's short of know how. I mean, you just can't expect a bunch of ignorant peons to understand a machine like some of our boys. And that's not meant as an insult, Mr. Ambassador, I mean, you take your average Russkie, we all know how much guts he's got. Hell, lookit all them Nazis killed off and they still wouldn't quit.
With apologies...
I hope that the all of the crewmen were rescued.
Funny or odd, it was the Chinese who were the ones who originated the concept of insurance. It is said that early traders would divide their goods among themselves in tenths, twelvths etc. before crossing a body of water. If one boat sank then everyone lost a small portion of possessions and no one person lost everything he owned. In this case the concept had apparently been abondoned. Had the gravel been divided between 10 or so smaller boats then the sinking of one would not have been a hardship instead of a sunken ship?
You didn't sink that !!!
Hey it was rehypothicated they get to file 7 insurance claims... win win...
funny way to dump ballast though...
This sinking of an overloaded ship has nothing to do with the rash of Chinese explosions. If China wanted to dispose of excess product they could find much better ways to do it than by blowing up their own ports with the energy equivalent of 3 tons of TNT, causing the equivalent of a 2.3 earthquake and releasing cyanide clouds just 70 miles outside of Beijing.
Apparently the Chinese government has made some arrests from the Tianjin industrial explosion but they are not charging for sabotage but rather they are charging them with things such as being negligent of duty etc,. Chinese authorities covered the explosions quite poorly and it is apparent that they really don't want the population to be well informed or concerned about these explosions.
We sunk some folks...
So many broken windows, so little time!
Roll over and upside down.
That's a neat trick with a pile of gravel, but it's been done already by the Fed using the global economy.
Somebody had a bad day.
signs of a top heavy economy are everywhere.
They are just testing more efficient ways to build islands.
Was that Captain Crunch? What a waste.
So that's how they build those islands.
Representative Hank Johnson, calling in from a "Hookers and Blow Subcommittee Meeting", reiterated his concern regarding his not-looking-so-foolish-now potential capsizing of Guam.
I've dropped a load from time to time, but nothing like that.
sinks in seconds? .... not!
"Shit, man. F*ck! It's never done THAT before."