Obama is celebrating this new economy.
Obama is celebrating this new economy.
I’m resigned to seeing a 9,000 Dow. I hope to God it stops there. I retire in four months.
Does not sound like he knows what “Canary in a coal mine” means...
In new economy, people eat carbon credits, drinking from data stream, living in a house made out of thin air. No need for raw materials.:-)
Finally, the sea levels will lower from their lack of displacing sea water and Obama will be able to fulfill his 2008 campaign promise.
P!
I don't pretend to understand the BDI, but doesn't this chart show an up spike to around 11,000 just prior to plummeting in late 2008? Where's that canary?
It is very low but not so out of the norm. Problem seems to be oversupply of shipping brought on by the huge bubble of 2008-2009. BDI was over 10,000 in 2008, 2009. Then cratered. Companies built tons of huge container ships for China market etc. For a perspective check out this site. Shows BDI from inception in 1985.
https://people.hofstra.edu/geotrans/eng/ch7en/conc7en/bdi.html
What we don’t have this time is a massive housing bubble with a trillion dollars of mortgage paper about to default. The BDI is indicating recession but we don’t have a recipe for a replay of 2008.
While I believe that the BDi is a good measure for windage purposes one should be careful not to overlook the fact that new massive container ships hit the market during the last five years. Many more expensive to operate ships were put out to pasture. That said I also watch the units in transit and it has taken a downturn as your chart shows.
The view from my little rowboat (that I happen to own free and clear)
A container ship certainly looks too big to fail.
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.
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.
ping
