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.
From what I read at Baltic Dry Index Falls for Eleventh Straight Day, the index is collapsing for two reasons:
[snip]"The dry bulk sector has taken a beating from the slowdown in Chinese business at a time when the sector is struggling with huge overcapacity."
Overcapacity can be corrected by mothballing ships. The slowdown of demand is the proverbial canary in the coal mine.
I agree. And in 2008 the rise in oil was the straw that popped the debt bubble. There is some froth this time, but no giant bubble of fake securities. Moreover low oil will allow investment in the sectors that got hammered in 2008.
I post as contrast to the position of this administration trying to spin the yarn of a booming recovery.