Baltic Dry Index on 6/4/08 was 11,623 and on 8/20/09 is 2,614.
That's 78% down.
What is it? The Baltic Dry Index is a daily average of prices to ship raw materials.
Unlike stock and commodities markets, the Baltic Dry Index is totally
devoid of speculative players. The trading is limited only to the
member companies, and the only relevant parties securing contracts are
those who have actual cargo to move and those who have the ships to
move it.
(what is not said above is without credit from the bankers, nobody is
going to BE shipping anything .. so the above statement at least misleading and most disinformation)
It's so bad on 7/1/09 they did what they do when they want to hide the
real numbers, they changed the way the Baltic Dry Index is calculated.
To see what was freaking everyone out during the beginning of the bail outs,
see chart of the past 2 years, click on the 2y at the bottom of the chart.
Hello, people .. 75% less raw materials being shipped means 75%
fewer products in the stores ...
The Prices of products will RISE no matter what the value of the
dollar does... and they still be calling it a Recession.
No matter what they call it, we have not even see the shock waves
of this thing yet as the products start disappearing off the shelves at stores.
Lack of demand is going to mess these shipping companies up.
They have ships not making money.
I'm very thankful I did not know about this when it crashed .. else
I'd probably had been like chicken little screaming the sky is falling.
So for those that hate living like a mushroom
and being treated like one too :
The Sky Is Falling ... Wake Up
Randy
Is it not better to know, than to not know?
That's 78% down.
What is it? The Baltic Dry Index is a daily average of prices to ship raw materials.
Unlike stock and commodities markets, the Baltic Dry Index is totally
devoid of speculative players. The trading is limited only to the
member companies, and the only relevant parties securing contracts are
those who have actual cargo to move and those who have the ships to
move it.
(what is not said above is without credit from the bankers, nobody is
going to BE shipping anything .. so the above statement at least misleading and most disinformation)
It's so bad on 7/1/09 they did what they do when they want to hide the
real numbers, they changed the way the Baltic Dry Index is calculated.
To see what was freaking everyone out during the beginning of the bail outs,
see chart of the past 2 years, click on the 2y at the bottom of the chart.
Hello, people .. 75% less raw materials being shipped means 75%
fewer products in the stores ...
The Prices of products will RISE no matter what the value of the
dollar does... and they still be calling it a Recession.
No matter what they call it, we have not even see the shock waves
of this thing yet as the products start disappearing off the shelves at stores.
Lack of demand is going to mess these shipping companies up.
They have ships not making money.
I'm very thankful I did not know about this when it crashed .. else
I'd probably had been like chicken little screaming the sky is falling.
So for those that hate living like a mushroom
and being treated like one too :
The Sky Is Falling ... Wake Up
Randy
Is it not better to know, than to not know?
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