Will the piracy bubble burst?

2008 was a very good year for pirates, but there are clouds on the horizon for them.

Piracy’s heyday was in the 17th century, and it has been on the decline since.  Interestingly enough, naval battles in general have been thin on the ground [sea?].  WWII in the Pacific was a big clash of navies, but more recently you have to go back to the Falklands war of the early ’80s for anything significant.

A navy is an expensive thing, but can it be justified?  If you’re an admiral, how can you make the case for funding and emerge victorious over your enemies (the army and the air force)?  Enter the pirates – easy to defeat, no friends, and it serves the national pride to eliminate them.  Iran, China, South Africa and India are all planning anti-piracy actions, eager to sink something.  So much easier than invading that little neighbour with big friends.

Bonus!  “Somali pirates to acquire Citigroup” story, thanks to a loyal reader.  But caveat emptor.  If you have options in pirates, you may soon find they’re under water.


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