Baltic Dry Index plummeting

[Hawkowl]

"The decoupling theorists are about to experience a second smackdown in 3 years. After the biggest bubble of 2008 blew up spectacularly and made beggars out of the Greek CEOs of various dry bulk shippers.... The BDIY chart has now completed a rather mutated head and shoulders, after dropping nearly two thousand points in the span of a month - the fastest plunge since the S&P 666 days.And with the Bank of China in liquidity salvage mode as reported earlier, look for much more gravity to come in this index."

http://www.zerohedge.com/article/baltic-dry-approaching-sea-level-just-above-1-year-lows

This falling index is almost always an excellent indicator of falling economic activity. I'd say it looks like we are headed for a double dip, but it appears that the NEBR may just declare that we never exited the single dip. So, it appears that we are just headed for an intensification of the recession.

[dixiegrrrrl]

1. I am in agreement.

Other than stimulus and number fudging via the Government, we have not been in :recovery".
The other shoe is dropping, as many people who are ignored by MSM have predicted.

[lurky]

5. All this talk of recovery when we have 10% unemployment,

and 5 to 6 job seekers for every opening. It's farcical.

[dixiegrrrrl]

6. ahem....much higher than 10% unemployment,

Closer to 20, according to Max Keiser, Karl Denninger, zero hedge.

[Po_d Mainiac]

7. U6 is 16.5% but.... that juice tastes funny mommy...n/t

[Warpy]

2. And it can be laid at the feet of all the austerity hawks

Why bother ordering good when you know damned full well no one is going to have the money to buy them?

Austerity hawks are trying to preserve the wealth of the wealthy. It never works that way because the economic pump works from the bottom up. If it's any comfort to us as we are forced to do without, we'll be taking the plutocrats down with us eventually.

[Name removed]

4. Deleted message

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[Skink]

3. For a moment there I thought you meant Baltika beer.

Panic set in. www.baltikabeer.com





Pints of these go for 2 dollars
:wow:

[Divernan]

8. I got up to 20% return in dividends on DSX(Diana) & EGLE (Eagle) stocks

until 2008, when the bottom fell out. At the end of 2008, with DSX leading the way the dry shippers stopped paying dividends - to survive what they anticipated correctly would be years of difficult economic times. My last quarterly dividend in Dec. of 2008 was $.95 per share. My stock values (i.e., my retirement savings) dropped about 80%, and the dividends stopped completely. I sold off and got out of the market completely. It was the right move - the shares continued to drop and never recovered. No dividends paid since 2008.

You might as well keep what little savings you may have in a damned shoebox under your bed.