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Baltic Dry Index Slides 5% To 14 Month Low, 30th Consecutive Day Of Declines

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Joanne98 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-07-10 11:43 AM
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Baltic Dry Index Slides 5% To 14 Month Low, 30th Consecutive Day Of Declines
After slumping 4% yesterday to close at 2,127, the Baltic Dry has plunged yet another 5% today, to close just above 2,000 at 2,018. This is the lowest level for the index in 14 months since May 5 of 2009 when it last traded by 2,000 and a reason for all Chinese trade "resurgence" bulls to reevaluate their thesis. Did China outsmart everyone, with the Yuan "reval" coming at a time when planned foreign trade would be de minimis? In the meantime, this is bad news for Australia and Brazil, and especially the AUD and the BRL, but who cares about facts anymore.



http://www.zerohedge.com/article/baltic-dry-index-slide...
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DJ13 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-07-10 11:47 AM
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1. But the talking heads on CNBC keep saying everything is great!
:eyes:
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msongs Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-07-10 11:48 AM
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2. nice, maybe we can get stuff that's USA made and stays off of ships lol nt
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Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-07-10 11:51 AM
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3. Look to the deficit hawks here
and austerity crazies in Europe who think the way to prosperity lies in punishing the people who provide the largest demand for goods and services.

You can't starve your way to prosperity. This is a symptom of that.
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Po_d Mainiac Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-07-10 02:30 PM
Response to Reply #3
5. It's not a symptom....And it ain't just Europe
It's the result of kicking the can from gutter to gutter for too long.

Sheeple did as the banksters wanted...spent like fools and believed the future lay in the service industries. The sheeple went to war and forgot to consider there was a price tag attached.

We do need to reduce borrowing, but TPTB will never claw back the ill-gotten-gains that would allow for stimulus spending and austerity simultaneously.

Gimmicks such as C4C, RE tax rebates, and Shrub era checks-in-the-mail rebates do nothing to keep domestic assembly lines from turning to dust. Real jobs doing real work are needed. Some of those jobs require getting dirty.

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Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-07-10 02:36 PM
Response to Reply #5
6. People are willing to get dirty if they can live on the wages
That's what kept me an RN for 25 years.
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Po_d Mainiac Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-07-10 01:59 PM
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4. There is no w8ing in line to get pier space.
All the new phones in the world, won't make up for the empty containers.
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