Published on Jan 16, 2016
The Titanic we all know as the Global economy appears to be moving along at full speed. But signs of sea ice are dead ahead. Is the economy moving? The Baltic Dry Index has hit a new low. The Baltic Dry Index is the assessment of the price of moving all of the globes major raw materials by sea, including commodities like coal, grain, and iron ore. Tyler Durden of Zero Hedge reports “ Last week, I received news from a contact who is friends with one of the biggest billionaire shipping families in the world. He told me they had no ships at sea right now, because operating them meant running at a loss. Commerce between Europe and North America has literally come to a halt. NOTHING is moving.”
Other signs of a sinking ship. The Dow Jones has lost 1500 points in 10 days. And still has a lot further to fall. The fragility of the markets are worse than pre 2008. One minor trigger could send the globe into at the very least yet another major recession. Regardless, Obama will hear none of it.