The saga on the high seas continued… As much of the world continued to monitor the story of the American cargo ship that was captured by Somali pirates and held its captain hostage, the increase in piracy has sparked a fascinating conversation. 

Selling stuff you bought with borrowed money is a process that’s mostly been confined to the financial markets in 2008. But now we see the behavior migrating into the economy. At the household level, a collective sense of thrift is beginning to set in. People are selling what they don’t need to raise cash.