Phelps may be all gold - but International Travel is failing to qualify

The latest stats from IATA point to slowing across the board. With the US $ rising against the pound and the Euro - we have a very weird situation.

The US economy may be not as bad as the others now that the markets have taken the US decline into consideration. But Europe and UK are a different matter.

As a result we have declining oil rates (down from a high of $148 to $116 at the moment. We have declining precious metals - gold and especially silver. We have declining Euro and Pound.

So traffic is slowing internationally. The blood bath will be across the board. The latest IATA numbers point to a world wide decline in both cargo and premium pax traffic.

Ouch this is still ugly....

Chart and numbers courtesy of IATA