Featured Trades: (FUMEROLES), (CRUDE)
1) Better buy those flowers for Mother's Day now because a flower famine is about to hit, sending prices soaring. The eruption of the Icelandic volcano EyjafjallajÃ¶kull has disrupted world trade in ways no one thought possible, and provides a fascinating snapshot of the state of globalization. The world flower market based in Amsterdam has virtually shut down, with tons of product being sent to the dump. So many thousands of planes are out of position that it will take weeks for normal schedules to resume. You can't blame the aviation authorities from taking action because erupting volcanoes nearly downed 747's twice in the last 30 years, over Indonesia and Alaska. Grounding half of the world's commercial fleet has caused jet fuel prices to crash, as storage facilities are limited, dragging down crude. Even our local high school band is stranded in Europe. Since leaders in Europe can't meet, the Greece crisis is prolonged, keeping interest rates in the US low. A myriad of other products, from cell phone to clothes, are being affected. Ironically, I backpacked around this volcano seven years ago, and a bleaker landscape you can't imagine. There was a constant danger of falling into a hidden fumarole and getting boiled alive. The last time this volcano erupted it went on for two months. If it lasts much longer, it will start to make a dent in world GDP, which the markets can't ignore.