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Baltic Dry Index plummeting [View All]

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Hawkowl Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jul-03-10 11:24 PM
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Baltic Dry Index plummeting
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"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.

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