– The Baltic Dry Index Is Having Its Worst Year Ever (ZeroHedge, June 13, 2014):
At 906, the Baltic Dry Index slumped to 12-month lows showing absolutely no signs whatsoever of the Q2 renaissance in global growth that has been heralded by all the highly-paid meteoroconomists.
In fact, thanks to increasing fears over China’s commodity financing ponzi scheme, this is the worst year for the Baltic Dry on record.
Of course, we will hear the echo chamber of ‘over-supply’ of ships rather than any ‘under-demand’ of actual aggregate product argument but the circularity of this argument is entirely lost on status quo huggers who viewed rising dry bulk commodity prices as indicative of growth (and built more ships) as opposed to the ponzi-financing scheme it really was… mal-investment writ large once again in a manipulated (and mismanaged) world.
Contrastingly, we recently holidayed in Cornwall, England, on a deep river valley used to store unused ships held at anchor.
Over the past fifty years there have ALWAYS been at least a dozen freighters, LPG’s, and even Hospital Ships.
Indicating the state of the shipping markets.
On this latest trip we saw ZILCH. NOTHING. F all. No ships.
So what’s going on?
To Squodgy: My guess is that the greedy guts are preparing for a world war……that the west will lose because anyone who sides with the US will be wiped out.
The Eurozone is propping up the US right now. If they turned and dumped the dollar, the dollar will collapse………yet there are many forces at work pushing for just that.
I don’t like what I am seeing, and your comment really unnerves me. We have criminals in power in the US…..don’t know about the EU………and they don’t do a thing for the people, just the greedy corporations.
Corporations now control the US economy. If you don’t work like a field hand, you get fired………it sucks. All opportunity is gone, the greedy guts have stolen it all.
Prepare for world war, because that is what they are doing with all those ship……..