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Baltic Dry 'Bounce' Is Dead - Freight Index Lowest In 29 Years For Time Of Year
Since the mid-July peak, when Jim Cramer warned the market's "last shred of hope was the freight index holding up," The Baltic Dry Index has been in free fall (at a time with very positive technicals). In fact, today's drop to 809 is the lowest in over 3 months and the lowest for this time of year since 1986!!
Even as stocks have soared in the last 10 days, The Baltic Dry shows no signs of a pick up in freight traffic demand, instead quite the opposite.
Charts: Bloomberg
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Wonder why the USSA banksters are trying to provoke wars in the Ukraine and Syria with Russia? With the economy descending into depression, they need a scapegoat to cover up their criminality and failures lest they end up with their heads on the end of pikes.
Shipping is so 20th century.
We're in the drone age, baby.
I'd like to see a drone drop off those 500 rounds of 230 garin ammo I just ordered.
We're gonna need a bigger drone.
Or as heard from the miner in the mine,
"Please canary, get up! Wake up, canary!!!!"
Said canary is "livelier" than the BDI.
Wonder why Russia is answering the challenge?
Wonder why China is joining the game?
Wonder why Japan is arming up?
EVERY nation faces the same choice-- financial chaos or war.
EVERY nation is making the same decision.
Funk dey ayss.
Chimpout Bro #Dryshipsmatter
Cramer tries to be as much of a dumbass as Gartman, and he comes close, but still lacks the needed charisma.
We will be using frieghters as homes. Everyone gets a container. Just make sure your's is near the top of the pile because there are no toilets.
and please tell me again why this matters? DOW, S&P, NASDAQ all headed back up - US treasuries in demand - gold not doing much
So no holiday season surcharge?
So no holiday season surcharge for ocean shipping?
BOOYAH MUPPETS!
Bulliah!
They must be gearing up for a bang-up holiday season.
/sarc
Just buy stocks, carry on.
Moar Fed QE.
HARPEX is down too, and that is a leading indicator.
I can't offer an opinion until I know whether the Baltic Dry Index is manipulated or not.
The average Joe Citizen couldn't any more explain the Baltic Dry Index than he could explain quantum physics. This sort of leading indicator is lost in the haze of reality TV and Face Book.
And the news in the container ship market? See the New Contex Index:
http://www.vhss.de/index.php?id=28&L=1
It is not only about BDI but about the global trade as described in:
FALLACY OF VIRTUOUS GLOBAL TRADE:
https://contrarianopinion.wordpress.com/economy-update/