Posted on 01/21/2016 7:59:13 AM PST by Sgt_Schultze
A measure of international trade often seen as a bellwether for the global economy has crashed to its lowest level ever, fueling fears we could be heading for another 2008-style crash.
Back in November, the Baltic Dry Index dropped below 500 for the first time in recorded history, and it has kept falling ever since. On Wednesday morning it fell to a low of 369.
To put that into perspective, the index was as high as 1,222 in August, and it has fallen 84% from a recent peak of 2,330 in late 2013.
The Baltic Dry Index measures how much it costs to ship "dry" commodities around the world — raw materials like grain and steel.
(Excerpt) Read more at businessinsider.com ...
The stock Market collapsed in the last year of the Clinton administration, and he did nothing to stop it.
It collapsed in the last year of the Bush Administration.
I’ve been expecting it to crash in the last year of the Obama golf game administration, and it did, so I am not disappointed.
Adobe ain’t out of style! First place I ever lived back in the Dark ages of 1947!
Besides, adobe is cooler than a hot steel shipping container.
Brilliant!
Easier said than done. Can’t take out large amounts. Have to take it out in increments.
I hope you have taken the steps to move any retirement funds into some save havens.
My brother’s father in law thought he was a stock market genius before he retired. He was playing the market with ALL of his retirement funds in 2008. He went broke. Like, really broke.
It makes me sad to hear people talk about this stuff and how it is going to impact their retirement.
Good luck to you.
hmmmm.... interesting point
I would say pay off your mortgage.
Tell the credit card folks to piss off. What are you gonna do? Come break my legs? They wont have the staff to go collecting.
If the entire thing just resets, there will be so many people in our situation that the big banks will not be able to contain it.
Screw ‘em.
I’ll put adobe on the outside. That way I’ll blend in..
His use of the term “canary DOWN a coal mine” means he never bothered to understand the term is “canary IN a coal mine”
It makes the author sound stupid.
And Yes a canary IN a coal mine was really used to help warn them of dangerous gas levels. If the canary died, they all got out of there quick.
The only way your scenario works is if the workers in America are willing and able to make products for a very low (relative to now) wage.
And, you need customers. If layoffs come in the millions, the people supporting the markets will disappear. This could be a deflationary depression—which would mean that prices are going to go down. Wages will also go down, on average.
In the end, this usually turns to a war somewhere.
I would love to believe what you say is going to happen. But I am a skeptic.
The CEO of one of the online stock trading companies gave a speech a cople of days ago that was pretty scary.
I think it was the head of Scottrade (Riney?)
Any one hear of this?
Let me see.....the COST of shipping commodities around the world DROPS, and this is "bad"???
I would think that this drop is driven by the large drop in the cost of FUEL, due to the huge drop in the price oil......which is the exact opposite of what was happening in 2008.
Don;t make it look like you have a fortress and are protecting goods.
Make it look like your house has ALREADY been ransacked, when the SHTF.
Have a hidden room (or two or three)
For those interested:
http://davidstockmanscontracorner.com/soon-comes-the-deluge/
Make sure you take your anxiety meds before reading! Ha Ha.
I hear you. I retire in 2 years and my retirement accounts lost more than two years worth of gains in just the last couple of months. I moved one account out of stocks and into bonds and that slowed the decline. I’m thinking about diversifying by reinvesting in Powerball and scratchers. ;o)
LOL. BTW, I was in CA the night of the grand powerball payoff and there was a line of people buying these things. Sad.
There were oil tankers being built larger and larger until it was found some were built too large. A more ideal size evolved for different trades.
I believe we are headed in the same direction with the new super sized container ships.
Some of the new largest container ships are going into layup.
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