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The Baltic Dry Shipping Index Just Collapsed To An All-Time Record Low

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Globe Matrix - Public DomainI was absolutely stunned to learn that the Baltic Dry Shipping Index had plummeted to a new all-time record low of 504 at one point on Thursday.  I have written a number of articles lately about the dramatic slowdown in global trade, but I didn’t realize that things had gotten quite this bad already.  Not even during the darkest moments of the last financial crisis did the Baltic Dry Shipping Index drop this low.  Something doesn’t seem to be adding up, because the mainstream media keeps telling us that the global economy is doing just fine.  In fact, the Federal Reserve is so confident in our “economic recovery” that they are getting ready to raise interest rates.  Of course the truth is that there is no “economic recovery” on the horizon.  In fact, as I wrote about yesterday, there are signs all around us that are indicating that we are heading directly into another major economic crisis.  This staggering decline of the Baltic Dry Shipping Index is just another confirmation of what is directly ahead of us.

Overall, the Baltic Dry Index is down more than 60 percent over the past 12 months.  Global demand for shipping is absolutely collapsing, and yet very few “experts” seem alarmed by this.  If you are not familiar with the Baltic Dry Shipping Index, the following is a pretty good definition from Investopedia

A shipping and trade index created by the London-based Baltic Exchange that measures changes in the cost to transport raw materials such as metals, grains and fossil fuels by sea. The Baltic Exchange directly contacts shipping brokers to assess price levels for a given route, product to transport and time to delivery (speed).

The Baltic Dry Index is a composite of three sub-indexes that measure different sizes of dry bulk carriers (merchant ships) – Capesize, Supramax and Panamax. Multiple geographic routes are evaluated for each index to give depth to the index’s composite measurement.

It is also known as the “Dry Bulk Index”.

Much of the decline of the Baltic Dry Shipping Index is being blamed on China.  The following comes from a Bloomberg report that was posted on Thursday…

The cost of shipping commodities fell to a record, amid signs that Chinese demand growth for iron ore and coal is slowing, hurting the industry’s biggest source of cargoes.

The Baltic Dry Index, a measure of shipping rates for everything from coal to ore to grains, fell to 504 points on Thursday, the lowest data from the London-based Baltic Exchange going back to 1985. Among the causes of shipowners’ pain is slowing economic growth in China, which is translating into weakening demand for imported iron ore that’s used to make the steel.

So many of the exact same patterns that we witnessed back in 2008 are playing out once again in front of our very eyes.  Below, I have shared a chart that was posted by Zero Hedge, and it shows how the Baltic Dry Shipping Index absolutely collapsed in 2008 as we headed into a major financial crisis.  Well, now the Index is collapsing again, and it is already lower than it was at any point back in 2008…

Baltic Dry Index - Zero Hedge

The evidence continues to mount that we are steamrolling toward a deflationary economic slowdown that is worldwide in scope.

Just look at the price of U.S. oil.  It just keeps on falling, and as I write this article it is sitting at $40.40.

The price of oil collapsed just before the financial crisis of 2008, and the same pattern is happening again.

And look at what is happening to commodities. The Thomson Reuters/CoreCommodity CRB Commodity Index has plummeted to the lowest level that we have seen since the last recession. It is now down more than 30 percent over the past 12 months, and it continues to fall.

So don’t be fooled by the temporary “stock market recovery” that we have witnessed.  The underlying economic fundamentals continue to decline.  We are entering a global deflationary recession, and the stock market will get the memo at some point just like we saw in 2008.

At this moment, global financial markets are teetering on the brink, and all it is going to take is some kind of major trigger event to send them tumbling over the edge.

And such an event may be coming sooner than you may think.

We live at a time when global terrorism is surging, relationships between nations are deteriorating and our planet is shaking in wild and unpredictable ways.

It wouldn’t take much to push the financial world into full-blown panic mode.  A major regional war in the Middle East, a terror attack that kills thousands, or an earthquake or volcanic eruption that affects a large U.S. city are all potential examples of “black swan events” which could fit the bill.

The global financial system has never been more primed for another 2008-style crisis.  Thanks to the fragility of the system, it could literally happen any day now.

So keep your eyes open – within weeks our world could be completely and totally different.

  • Steeve Girard

    Finally not only I and the cap’n sees the problems ahead! Welcome to the club!

  • Alwaystomorrow

    The Economic Collapse Blog Has Issued A RED ALERT For The Last Six Months Of 2015.

    Published 6/25/2015.

    42 days until 12/31/2015.

    Lets do a count down until the end of 2015 and see just what happens.

    ——————————————————————————

    By Michael S, on July 31st, 2015.

    “And I kind of appreciate the countdown. It reminds people of my warning, and perhaps it will give some readers a renewed sense of urgency.”

    • James

      Yep, a disaster is not comming

      • airedale

        Can you promise me that, can you? Do I need to insure my home and auto, or am I safe not doing so?

        • Guest

          It’s foolish not to have insurance on your home, and illegal in most states not to have auto insurance.

        • Alwaystomorrow

          Doing so doesn’t insure safety either.

      • Alwaystomorrow

        Timing is everything. Without it predictions hold little value.

    • The G00SE

      I don’t like you.

      • Alwaystomorrow

        I don’t like goose.

        • JustBill

          I like the fatty liver harvested from geese that have been force fed. It tastes great on top of a bacon burger.

          • SunnyFlaSnotress

            James Gandolfini liked
            fois de gras too.

    • Malcolm Reynolds

      Alwaystomorrow has issued a RED ALERT for as long as he posts.

      Published 10/7/2015
      “I look at things probably to simple. ”

      “I am not very smart …Yes I loose when markets go up”

      “I told you I am simple ”

      Published 10/5/2015

      “My posts are annoying, irritating, childish….”

      I have no idea what a collapse even looks like but by golly, I’m going to mock and harass the people here because, although I admit I’m a cretin, I know this author is wrong despite the VAST number of links, quotes and charts provided indicating otherwise.

      And if he bans me for the harassment … again, I’ll surely whine like a little girl that wants her dolly … again.

      —————-
      Let’s all congratulate always because, even the village idiot needs a pat on the head every now and then.

      • Alwaystomorrow

        Malcolm, Happy 4th Birthday.

        • Malcolm Reynolds

          Awww, that’s sweet, but you’re the low info child.

  • Mondobeyondo

    Whoa Nelly!

    This is not good, and that’s putting it mildly. Seems that the demand for a great many important goods has reached a new low. And the upcoming holiday shopping season is just around the corner. There should be (literally) tons of goods being shipped in preparation for Christmas. It does not bode well for the global economy.

    Or put another way….what if someone threw a gigantic Christmas party and nobody came?

    • Scott Comin

      Oh please don’t say christ-miss you mind offend someone!

    • Bill

      Nelly may be your only transportation when the gas pumps go dry!

    • alan

      I think most things for Christmas have already shipped a couple months ago. What we are seeing more likely is after Christmas drop.

      • Jill

        This is not exactly a typical post Christmas shipping drop as these are lows that haven’t been seen since 1984, despite a more consumer driven society and greater population.

  • James

    So the cost of shipping crap has gone down?
    Turn on the alarm.
    Please

    • Scott Comin

      Hilarious!

    • Sweet T

      Yes… global demand at record lows is a sign that things are booming.

      • James

        No, falling oil prices are a sign that OPEC hates fracking

  • Ms

    I’ve been waiting for this collapse for 7 months. Always reading the economiccollapseblog. Michael has always posted good information and i’m confident that he’s correct that a massive economic collapse is coming soon. A lot of people have lost faith or never believed in it in the first place, but to me it’s like the boy who cried wolf. On a different note, my prediction is that it will take place this month, as well as a lot of ISIS attacks. They’re going to attack various cities across the globe at the same time, and they’re going to contaminate sources of water in europe (holland, i believe) with biochemical materials that will make people unable to have a fresh source of water. After all of this, there will be global panic like never seen before. This will be around christmas, and that’s when the governments will start to enfore the new world order. This is when the serpent has full power over the world. But luckily it will only last 3 months. In the spring there will be a massive earthquake, (scale 10) that has never happened before in the history of the earth, and never will happen again. During this time the earth will fight back and God will judge all those who have become evil, and remove them from the earth. After that, the world will completely be anew. With only good people left that will rebuild the earth into what god has always wanted it to be. I know my comment got out of hand, but this is what i believe will happen. summarized.

    • Steeve Girard

      It is happening right now, it’s just that the big honchos are hiding it by injecting monopoly money in the system.

      • carson

        yeah we have to ask, what will a ‘collapse’ look like?
        It is happening right now.
        And also ask, what are the desired goals/reasons for causing it?
        And we can see them implementing many things towards those goals right now also.

        • Steeve Girard

          There is no goal or reason. Only the laws of the universe which requires a return to the most stable state possible with the current forces and energy available. When the resources shifts, so must the state adapt. All storms are born from a difference of potentials and all storms dies when those potentials become neutral again.

          • carson

            well there are the laws and Word of God…the universe just a creation of God.
            luke 4:5-6, which came about through romans 5:12.
            And rev 12:12.
            So the events are used to build and implement the system for the devils short time, but yes God still and will always rule, but the devil is for whatever reason allowed his short time, rev 13, his ‘nwo’ of 42 months.
            A tyrannical ‘order’ out of chaos created today, but after the 42 months rev 19 and the return of Christ then rev 20 and etc etc and God will end the reign of the flesh and the devil.

    • Alwaystomorrow

      Ms, you said that “but to me it’s like the boy who cried wolf.”
      I couldn’t agree more. There was eventually was a wolf…..eventually.

      Predictions have little value without proper timing.

  • Guest

    Not much business at my place of employment today. I’m curious as to what next week will be like.

  • Ms

    A lot of people thought that 2012 was the end of the world, but it was actually the the beginning to a time of the serpent. A quote from the bible: “time, times, and half a time” Dan 12:7. A time is a year, so the bible says that 3 1/2 years after 2012 the ultimate judgement will come. The serpent will only reign for 3 months, and after that he and all his followers will be judged and get sent to hell for eternity. During these 3 months the new world order will be inforced heavily, by such things as implanting everyone with a chip in their right hand or forehead, and anyone who accepts this will also be punished by god. Thus it is better to die during this time when you refuse to accept the chip and because then you will keep your soul and get to live on. Most people will accept the chip, because it will all be done during a time of mass chaos when there is no stable currency (economic collapse), and no sense of safety(ISIS bombing everywhere, biochemical warfare in europe, the middle east getting nuked and WW3) because the government will convince people that following their orders will lead them to safety. Don’t fall for their trap and stock up on food for at least 3 months during these hard times coming up!! Be as independant as you can from the government by growing your own food, having your own fresh water source and a way to fend off attackers

    • Steeve Girard

      Star Wars alien: “It’s a trap!!!!!” (ahem becoming serious again) No jokes, it is a trap.

    • carson

      revelation 13:4-5.
      they (they=see revelation 13:8, all whose names are not in Christ the Lambs book of life)) worshiped the dragon/serpent, who gave power to the beast, AND they worshiped the beast….
      and power was given to him to reign 42 months.

      also a helpful short summery of when it kicks off is matthew 24:15-21, the abomination of desolation, THEN, great tribulation, 2nd thessalonains 2 and book of daniel, the seating/empowerment of the anti-christ is that abomination that brings desolation.
      Nobody sat himself up and declared he’s god to the whole world in the way that the whole world is indeed following that man, yet, but coming it will.

    • Jerry C

      satan will be given 3 1/2 years to rule during the time called the Great Tribulation. That is the exact amount of time Jesus Christ preached on earth. God is a just & fair God.

  • Guest

    So, Michael, do you think the Fed will raise rates next month?

    • Alwaystomorrow

      Michael told me to tell you he is 100% sure they w.

      • JustBill

        It’s good to see that you grew tired of sitting on the sidelines and started posting again. I think you heard someone yell “Rub some dirt in it and get back in the game.”

        • Alwaystomorrow

          I am starting to get bored. It is loosing its luster.

  • Steeve Girard

    Singing a parody of White Christmas: It’s gonna be another dead Christmas…. Like last year waaaaaaas!

    • alan

      But now it can be blamed on an ISIS scare.

  • Ms

    Also, ISIS is getting ready for a lot of large attacks. They already are in place everywhere around the world. They’re going to be attacking a vast amount of cities all at the same time across america (maybe during black friday, because that’s when there are the largest crowds) and it’s going to be horrible. Also france announced today that when they raided the paris attackers hq, they found evidence is chemical attacks that are going to be taking place soon, contaminating water sources. 1 year ago they were already warning people of ISIS and biochemical attacks. So i believe it will all happen soon. ISIS has also published a big list of cities across america where they are already at and planning large attacks, and they have uploaded a video of them planning a big attack in new york city. ISIS is controlled and funded by the CIA, who are the illuminati and their goal is to make everyone fearfull so they’ll be accepting of the NWO. Sorry for my odd/poor grammer. English isn’t my first language.

    • Steeve Girard

      Na! You’re not the worst English speaker here. All you need to do is to follow the samurai’s way, and take seven breaths before posting.

    • Scott Comin

      The only way that will happen is if it serves the purpose of those in control. Perfect excuse for more cameras.

    • Dr Feelgood

      Woo Hoo. Another crazy patient has escaped the hospital. Please take your meds. You are hallucinating again. Good for some laughs though. Illuminati lol. Do you believe in unicorns too?

      • Paul

        ahhh… wrong website pal, get lost shill boy

    • JustBill

      Someone may need to pick up the check for this one, call her a cab while your at it. Look at the pile of little umbrellas in front of her, she’s been at it for a while.

    • TIRED

      As crazy as all that would have sounded in the past – I must say I largely believe you!

  • TIRED

    I have be surprised it has held together this long. I was amazed at the amount of resources being poured into “the plunge protection” money pit. We must remember the desperate people will do anything to save their world of power and wealth. They will lie, steal, commit treason and kill for their domain of power. Nothing is beyond these people. I thank these same sites for at least making me aware and wanting to gather my own facts. No longer Fox news or any major network are to be trusted. Drudge and many other sites are more my source of information.

    • howmchbscnutak

      welcome to the party….

    • Cyber Revengeance

      cheap credit from FED will keep things propped up.

      • Rob W

        For a while.

        • Malcolm Reynolds

          And it’ll be much worse as a result.

          • Rob W

            Yes. But our system gaurantees that anyone talking about the real issues will get laughed off a stage somewhere, early in the process.

    • AzDi

      I’m sure much of the Debt we have now is because of what the Feds are doing to stop the crash. Nothing is going to help and I agree with you I am truly disgusted with ALL media including Fox. Not only have they gone more liberal, they are not even telling the truth. There are a few (lou Dobbs for one) that pretty much says it like it is.

      • Gay Veteran

        90% of the media are owned by 6 corporations.
        you think they’re going to tell you the truth?

    • SunnyFlaSnotress

      I read Drudge all the time. Do I think he’s the most credible source of news? .. no.

  • CharlesH

    The average American on the street and also the main stream media have all be ‘trained’ over the years that if the stock market is doing good then the country is doing good. If you get outside Wall Street and all that it includes – you’ll see the true condition of the American economy. One does not equal the other at all – far from it. Michael is right – all it will take is ONE black swan event and we’ll see how great things are.

    • Steeve Girard

      Does the commodity crash counts as one?

    • Jazz

      Yes all it will take is one black swan event, but these events are VERY rare. They are nearly impossible to predict the timing. There are many economic risks but the central banks are committed to keeping the party going for quite some time. People don’t realize that!

      The US has survived world wars, terrorist attacks, economic slow downs, on and on YET the markets charge higher. The US economy is strong and so is the stock market. No signs of a recession anywhere in sight.

      • Ms

        Do you even read any of michael’s articles? Why don’t you run along to cnn and join the rest of the sheeple like the good little sheep that you are

        • Jazz

          No thank you! I can’t stand CNN. I’m a libertarian through and through. Believe in small government and stand for anything the liberals are against.

          Yes I do read Michael’s articles. They are well done but I can also cherry pick stats to show the economy is strong. It all comes down to your own personal economy. I invest in stocks so my economy is great. I give back. I help others. The Fed has separated the rich from the poor. That is a shame but it doesn’t mean the economy is bad. It is propped up by easy money that will keep flowing like milk and honey until it dries up in a few years.

          • gfmucci

            You have to do some deep pickin’ to demonstrate your point. On the other hand, evidence of Michael’s findings are many times more prominent. The “normalcy bias” can paralyze one’s thinking.

          • Jazz

            Not really. There are three sides to every story – yours, mine, and the truth. The stock market wouldn’t keep going up if there was only evidence of a bad economy.

            Bulls have enough good data to keep buying while bears have enough data to keep selling. Whatever side you are on, you tend to give more credibility to your side’s data. But ponder this, a market that refuses to go down with bearish data is NOT a bear market.

            There is so much going on that many are missing the real crisis. It is not just a financial crisis one should be looking for, the real crisis is confidence in government. Money is fleeing the government sector into the private sector. Stocks will go up because of this lack of confidence.

          • GoldenGirl

            Yes, absolutely correct. It is New Age Economics. Fundamentals are flying out the window. People ARE missing the real crisis! And it is going to be ugly. However, right now just about the only place to grow one’s “savings” is in the stock market. It will not always e this way ~ two more years, most likely. Capital is flowing into the US private sector on a global level ~ all due to a lack of confidence in governments. When the debt crisis hits us, all bets are off.

          • Kim

            Yes it would be because it’s manipulated. The stock market has nothing to do with reality unless reality has to do with front running, manipulation and don’t forget stock buy backs and shady arbitrage and other shady ways to steal. None of it is based on “the economy”

          • AzDi

            You are a libertarian and believe everything is hunky dory? I don’t think so. Not with what is going on in today’s world.

          • Jazz

            I never said everything was hunky dory. In fact I have said the opposite. The middle class is getting killed by us in the upper class are making a killing as the Fed keeps driving up the stocks we own. The economy is good enough to keep the show going on another 2-3 years.

            The stock market and real estate are the only games in town right now. Both will keep going up until the next financial crisis which is years away. We are already seeing a crisis of confidence in government making money flow from the public to the private sector. This is a positive for the US stock market!

    • Mike Smithy

      Speaking of Black Swan’s, the table is being set for a False Flag event of monumental scope so that the banksters can deflect culpability for what they have done. It’s all about plausible deniability for these psychopaths.

  • Scott Comin

    I work in a high end hotel in New York. IT HAS NEVER BEEN THIS SLOW FOR THIS LONG. ESPECIALLY FOR THE HOLIDAYS!

    • RTL89

      My buddy has the same type of job in a high-end hotel here in Canada, and he was laid off back in early November because they told him that “it was extremely slow over the next 4 months”. Slow during the holidays???? If that doesn’t wake people up, I don’t know what will

    • Bill

      No one paid attention to my Walmart parking lot comment but I’ll bet it is an indicator just as important as the BDI.

      • Bill’s Mom

        No they just ignore you Bill because your comments are meaningless. I love you son, but your Dad and I do not like the way you been treating your sister. You spend too much time wasting your life. Come home son and get the help you need!

      • Bill’s Dad

        Bill, we are here for you. You don’t have to live in your van in a Walmart parking lot. We accept you for who you are. We may not agree with your lifestyle but just come home. We can get you help. Your sister will forgive you for stealing her clothes.

      • Bill’s Sister

        Bill, Mom & Dad told me I could find you here. Give me back my clothes!!!! You are a man, act like one. Mom & Dad will let you sleep at the house. Drive the van home and work things out with them. You need help. They will give it. We love you Bill.

      • JustBill

        I can see why you had to dress like a girl to flee your crazy family. It’s a trap, stay away or you’ll have to take more extreme measure to escape again. Perhaps your family has room for one or two FOB Syrian refugees. They would be worried about more pressing matters.

        • Rob W

          That was a lot of work for something that didn’t come off as all that clever.

      • Richard O. Mann

        When the Wal Mart parking lot is almost empty, and it is any day of the week other than Christmas day, then you know it has gotten deep.

    • JustBill

      Do you hail cabs for the hotel?

    • NowAlive

      It is interesting. I work next to a restaurant and walk a lot to stretch my legs (office worker staring at monitor all day). After years, I’ve gotten relationships with the folks over there. One told me that they’ve been sending people home constantly because business has been drying up. In essence, the restaurant isn’t making any money coming into the Holidays, the workers are then getting hours cut. This will trickle back up to hurt retail sales, and then the cycle continues…

  • carson

    sept. and oct are the high point of shipping season..and all shippers down, ocean going, rail, trucking.
    I read the trucking went out and bought all sorts of new rigs because..the recovery was going to last forever…ooops.

  • defcon1

    any rate hike regardless how small will collapse the floor under commodities sending shock waves across credit markets sending oil and nat gas rocketing to new lows,could see sub dollar a gallon gas by january

    • Kim

      That’s what Peter Schiff says. And he says there will not be a rate hike in December. There can’t be one and I agree there won’t be one. The price of oil (declines) is bankrupting the world. It won’t absorb a 25 basis increase. The price of oil is bankrupting Canada right now and unless the price goes up really high and really soon, maybe, even then, it won’t save Canada. It’s a race to the bottom economally for Canada or the EU. There will be no rate hike.

      • Jazz

        Rate hike will be one and done to save face. The Fed has clearly indicated it will raise rates and market is taking it in stride. We are all ready for liftoff!

        • Kim

          Haha please never leave this blog! U are hilarious. :-))))

          • Jazz

            Sure but I only make bets for charity. Not much of a gambler in my old years. Back in my younger days I was good at the craps table. Anywho I say they raise rates in Dec. What say you?

          • Kim

            I say not a snowballs chance in– u know where- that “they” the powerful cabal of federal grand viziers, will raise rates. Why should they? Now days the chatter alone is enough to manipulate your beloved markets one way or another. But if I lose, I’ll admit that the economy can withstand a 25 basis point rate increase. If I win, u admit it can’t.

          • Jazz

            They could actually raise rates as soon as Monday after the emergency meeting

          • Kim

            So u take the yes raise rates bet and I’ll take the no bet. What should we wager?

        • GoldenGirl

          This will be interesting. Do they save US pension funds or the countries with emerging markets? Either way, the Fed has nearly lost control. Debt crisis here we come. IMHO rate normalization is on the way. Unless the Fed is completely stupid. Oh wait. I’m back to wait and see. I hope you are right, though.

  • K

    Michael, I give you great credit, for your continued efforts to inform. With all that is going on. Anyone who can not see, have chosen not to see. As to the Baltic dry. You are right, that is a very negative sign. But mention the baltic dry to most people. They think it is some kind of vermouth.

    • Bill

      BDI sinks, DC cherries blossom, Walmart parking lot empties, and for some reason people are drinking “Baltic Dry”.
      Crazy world but my stocks went up!!!

      • Dave

        Yep, thanks “Plunge Protection Team.”
        (Wake up Billy Boy before you lose it all…)

      • Rob W

        Ride it all the way to the top, man!

      • Patriot Alice

        My socks dropped.

        • Jazz

          You should by knee highs instead 😉

      • SunnyFlaSnotress

        Not that the drop in the Baltic Dry Index isn’t significant, but to put things in perspective,.. the index has only been around since 1985.

        • sharonsj

          The article says: “If we’ve static demand and the price slumps then that’s actually a good sign: growth is likely to be higher in future ecause transport will be cheaper.”

          But the author fails to explain cheaper transport means nothing if there are no goods to transport nor consumers to buy those goods. I’ve read that for every 3 containers shipped to the U.S., only 2 go back full.

          Not only is demand falling around the world because so many people have no extra money, but stores here are overstocked. Walmart has clearance aisles of cheap Chinese stuff that no one wants.

          And I won’t even buy anything in the supermarket unless it’s on sale because prices are not falling!

    • Kim

      Lol. Good one K

  • Cyber Revengeance

    this is bad but nothing alarming. it may bounce back in next few months.

    • Jacynthia Read

      Or it may crash through the floor.

  • Big Foot’s Revenge

    I’m loving all these crazy predictions in the comment section. We have oil at $2 a barrel, ISIS poisoning everyone, the market crashing by thousands of points, the new world order starting by the end of the year. We forgot to include Big Foot in here. I’m sure he will sink or crash something?

    • alan

      Putin and North Korean hackers, ebola.
      Sad to see Big Foot take the blame for a bad economy

    • TIRED

      Don’t talk bad about Bigfoot / I believe in Bigfoot and UFOs – but not honest politicians – might be a honest Bigfoot out their!

  • Cyber Revengeance

    keep in mind that economic collapse could fuel more wars

  • Heinrich van Rooi

    I am VERY much concern.. Economic fundamentals are plunging soon very very soon the markets and the industrialized economics will get the answer. The good times have come to end. The pattern the markets followed recently indicate red signals on the horizon..

    • Mike Smithy

      Fundamentals no longer matter. This so called “economy” is now in full retard mode. May the farce be with you.

      • Kim

        That is so right. the economy is simply a last ditch effort to extract as much from the middle class as possible. It’s a mad dash for the last remaining crumbs. The farce is in overdrive.

      • Heinrich van Rooi

        In fact it did matter. See the market did not make any brand new highs after May and the US economy only grew 0.7 in the 4th quarter. You can only bet it will be downsize in the 2nd review. That was obvious way back in November 2015

    • Uncle Scam

      The good times ended in the mid 90’s.

  • J B

    Deflation -> Inflation -> HyperInflation -> Reset, and then it begins all over again

    • Mike Smithy

      Yep. Once we hit the hyper-inflationary stage, the current stawk valuations may look reasonably priced.

    • Jerry C

      Agree except for “begins all over again”. Normalcy Bias. Believing things will continue as they always have. My gut tells me that this time in history will be much different.

      • J B

        They might change the color of the Notes or have no Notes and just have some type of Cloud Credits, but the same people will be managing, controlling, manipulationg it The more things change, the more they stay the same.

  • The Lords Comming

    This must mean the shopping mall shelves are full and can’t take any more. Nor the store house. Folks, it is soon Christmas, get your plastic out of the freezer. You are the salvation of the US economy, the retailers, the banks, for your beloved President, the Fed and Country. God doesn’t want any of it anyway.. So go ahead. Oooopppps. Don’t take on more debt than you can pay off on next pay day…….

  • Chuck (Smithfix) Smith

    If memory serves, was it not Bloomberg who also blamed the drop in the BDI on… wait for it…, ‘there are too many ships?’.

  • mamaganster

    What is the difference between 2008 and now when taking into account the huge increase in the value of the dollar against other currencies? Could part of this be related to that? What was the dollar evaluation against other currencies back then? I am just curious and would love to hear what others think about this.

  • LAURA KEY

    The sad part is MOST Americans have no clue or ever heard of the Baltic Dry Shipping Index. No, I’m not joking.

  • These are disturbing news, but what do you see in your crystal ball? A deflationary depression? The Fed simply won’t let that happen.

  • awake

    Gas is falling like a pebble in a pool. It’s not a good sign.

    • Kim

      No it is not w good sign. At all.

    • Jazz

      If gas prices were falling because of less demand it would be one thing. They are falling because of oversupply and no where to store the oil. Falling prices alone are not a warning sign.

      • Kim

        unless the price of crude oil is tied to a contract or itself is an underlying asset for a contract. Huge investments and even bigger future claims on oil staying above $100 is bankrupting not just oil companies (watch for some majors to go down ) but entire governments, for example Canada.

  • ahhhhhhhhhhhhhh for reals

    It’s a gonna crash.

    • Jazz

      Lol. If you mean melt up, you will be correct. The markets had their best week in years this week and heading MUCH higher. All time highs just around the corner. The markets have accepted a rate hike so nothing to crash them anymore!

      • Kim

        By markets you must be referring to The Dow, the S & P and the NASDAQ? But are these the only signaling mechanisms that you pay attention to when gauging the overall health of economy? Cause if they are, that would be unwise, from a logical standpoint.

        • Jazz

          Well considering I make most of my money from the markets it is the best overall health of my economy. But that being said things look good in consumer land too. Consumers are said to have plenty of cash, optimistic about the future, and already spending the most in decades this Christmas season. Job markets are heating up too!

          • Kim

            You’re funny. Lol. No really, this made me smile!!

          • Jazz

            Glad to be of service :)

    • K2

      we have been reading here that it will crash…since years, when will it happen??, not hoping (i personally dont want one) am just curious?

  • Kim

    The BDI is a huge leading signaling mechanism for the economy. This should have picked up by now.

    The price of oil scares me tho, because it is tied to more [bad] bets than any other underlying asset in Wall Street.

  • Richard O. Mann

    Darn. I just got a part time job at Wal Mart Neighborhood Mart, a new store opening in January. Well, it may not, eh? Oh well. Head up, chest out, eyes straight ahead, as we march into total chaos and destruction.

  • VigilanteCaregiver

    Thanks Mike!

  • Solange

    Well November is almost over and nothing has happened. So if your life is not exactly where you want it and you were hoping for a collapse, forget about it. It is not going to happen.

    Work on your life instead of hoping for a magical reset. Sorry to bring such bad news, but it is the truth.

    If you hate your job – find a new one.

    If you are depressed and unmotivated – get help.

    This life is what it is. For some it is pretty sweet, for many it is pure misery.

  • Solange

    It just proves that there is no divine being looking out for the welfare of other people. Sure there may be a creator, but it is not picking and choosing who to bless and who to curse.

    • Doug

      Yes solange there is a creator. People get this mindset that God is in control 24/7 but what I get from reading scripture is God gave the control to Adam and Eve who then sold out to satan, so God sent Jesus to get it back who then gave Christans the power and dominion to rule over the god of this world satan.
      But Christians are preached a watered down gospel and refuse to walk in the authority that Christ gave us because we have football to watch and beer to drink, video games to play etc. and leave the spiritual warfare to the super Chritians while we cry bless me bless me…..make any sense?

      • Ricardo Fontanot

        Yes! That has been the role of Organized Religion in the past. The powerful (The Elite, for example) rule through fear. In Mexico there was The “Santa Inquisición” (you can see their torture instruments in a museum in Mexico City). They passed the control of ruling to “The US Democratic Model”. They also rule by fear. Law enforcement tells you: If you steal, you go to prison (makes you feel what religion calls a sinner). There are many examples (we are still poorer than in the US) of a man that, let’s say, steals an apple from a market because he is starving, and has to serve many months in prison. On the contrary, the “good ones”, the “people of law and order”, the “democratic institutions” steal millions (throgh bribery, not being “able” to return the savings of certain “funds”, etc., etc., etc. Just find out why “El Chapo Guzmán” is able to sell billions worth of drugs in the US – Question: is the one that buys as responsible as the one who sells?) and nobody gets to them. They are the Law. They are the “good guys”. They decide, they rule.

        So, the Law regarding the rulers in the church, as well as the “civil” rulers are: Have power over the rest of the people. Be stronger than them. Make them fear you. The church even teaches you formally to FEAR God, while Jesus of Nazareth told us to speak directly to Him-Her. He taught us to pray: “Holy Father”, without the help or intervention of any church or church authority. Thank God we are still allowed to pray to God by ourselves in our home, without paying for a permit for doing so. God bless you!

    • kartune

      The gift of free will is the problem. YOU have free will to deny Gods existence. If God intercedes in every situation there IS no free will. If good people are given a choice between the option of good or bad, evil people MUST be given that opportunity also. And the consequences of our choices are all around us. Unfortunately for the few, the majority choose greed, vengeance, fury… self in general. If God prevents all the results, then there is no consequence of sin

    • Ricardo Fontanot

      Yes! But things are even more beautiful than you might imagine! God, You, Me, Are All One. So you are blessed to begin with, as is everybody, unless somebody curses him – herself, this person has the feeling (because we create our world from within) of being cursed. He, she, might even think that God is cursing (or the devil, or whatever “comes” to her, his mind). I think it is awesome that, choosing the Next Greatest Vision of Being Myself, that is, just following natural evolution, I, as a human being that is counscious of being conscious, like you are, will see the Light of God sooner or later, without exception. It will be like waking up from a nightmare (or a beautiful dream, in case you decide to create a paradise on earth). We, you and I, we will be “united” (ONE) again. We Are All One. See you in heaven. Maybe also, while returning to this plane, in a later incarnation. Please don’t create something less than heaven, meanwhile. Just trust, have faith, believe. God blesses you!

      • G Wang

        I LOVE what you posted above, Ricardo — serious — though it strikes me as more like Vedanta than Christianity.

        As our whole sorry world crumbles into ruin — oh, wait a second, it’s all just a dream, but I’ll come back to that point — a spiritual vision of things may be all that’s left to keep us going. It’s heartwarming in this respect to see that there are a few souls left that continue to subscribe to this vision. (Unless, of course, you’ve posted the above just to be witty and actually don’t believe any of it yourself, which I hope isn’t the case…)

        I’d concede that all the madness around us — terrorism, resource depletion, etc etc — is ultimately just MAYA, material illusion created out of our own minds. (Or MIND, rather — singular, not plural.) But this illusion is still very convincing in its realism, mind you… And we still have to endure it while it lasts…

  • Rich99

    If things are worse now than back in 2008 but a collapse occurred in 2008 but not now shows you that they collapse it when THEY are ready

    • FortuneSeek3rz

      There will be no collapse in the United States. Only recessions. If you want to see a collapse try Syria, Iraq, Venezuela, North Korea, Greece, and multiple African countries. The U.S. simply has too much wealth within her borders and the dollar is simply too bouyant.

  • John Kar

    Currently work in the import/export business.

    Can confirm that our business has slowed down immensely compared to previous years. Same with other freight forwarders/co-loaders/steamship lines around our area.
    We’re handling about half of what we used to handle.

    Something is definitely wrong.

    • df NJ

      Maybe the Chinese pegging the Yuan 6 to 1 against the dollar was not such a good thing for long term since it destroyed all the non-Chinese factories in the World. No factories, not factory workers. No factory workers no customers. No customers no exports!

  • df NJ

    Maybe it’s time for some Keynesian economic stimulation to kick start world economy. If the economy collapses all money becomes worthless and all wealth and privilege will be compromised.

  • DJohn1

    The mistake is to depend on God for anything.
    Rather depend on yourself to do everything within your power to make things go right for you.
    Then Pray as if everything depends on God. Not before you do everything within your power to make things right.
    Jesus is our representative through which miracles can and will happen. According to scripture, three Christians praying together can move mountains.
    I do not know one preacher of the word of God that on his own can do anything about anything. Get a step stool. Place the preacher on the first rung of the stool. Then ask him to walk on air. Cannot do it. He will fail every time. He will however land where ever the step stool is placed in front of it.
    Neither can anyone since Christ walk on the lake of Galilee or anywhere else without falling in the water.
    The mistake is we are mortals. God is immortal. Jesus is obviously his father’s son. Jesus can walk on water.
    And in these difficult times, it is important to know the difference between us and him.
    Him can be either Jesus or God. They act as one.
    I once made the mistake of depending on Jesus to do what I needed done and a person’s life depended on it.
    After heart surgery, that person who at the time was my life mate died. Despite prayers she died. roughly 8 hours after the surgery.
    Please do not get me wrong. I believe in Jesus Christ as my lord and savior. I do not believe that Jesus will save me from financial ruin on this planet. We Christians depend on Jesus, not the other way around, and that is wrong. Because Jesus will not be there for anyone that puts their life on the line. With the exception of following scripture to the letter and praying with 3 Christians and only in a way that does not violate the principles of Christianity.
    I have seen what I consider miracles. They do not follow the laws of physics or medicine. I have seen prayers make a difference.
    Just do not depend on anything but yourself. Then after you have exhausted all other options, then get 3 Christians together and pray.

  • davie1003

    You folks thrive on trying to scare the beans out of each other! Nothing wrong with doing that; certainly good fun, I agree with the fella in ‘Barfly’ and his take on “obviousness.”

  • G Wang

    Thanks for the long reply, Rick. Have to say your reply wasn’t easy to read. I had to read it at least three times. :)

    In speaking of not believing in the Devil, you remind me of Joel Goldsmith and his book, THE INFINITE WAY. (You know about him and the book?) He said virtually the same as you: the evils we experience are all created from our own minds (or MIND, rather 😉 ), and by choosing not to believe in the illusions we create to fool ourselves we can eradicate all forms of evil. As one example, Jesus didn’t believe (as the modern materialistic mindset does) that we are mere physical beings at the mercy of matter, in need of all sorts of physical resources to sustain us. That’s why he was able to feed five thousand men.

    As I see it, though, this illusion ISN’T easy to shake off. (And most of the people around us would also say we’re idiots to think it’s an illusion.) It’s one thing to read Goldsmith and like what he says, but quite another thing to have FULL, FIRST-HAND KNOWLEDGE/ AWARENESS of the illusory nature of evil. I wouldn’t say I have reached this level of awareness at all! Truth isn’t easy to arrive at! And until I reach this exalted state of being, I can only take Goldsmith’s word for it.

    So how then would I know what those masters say is all true, and not just another fancy ‘ism’? I haven’t experienced this exalted state yet for myself. (Have you? How I envy you if you have…) I think it’s true because it’s widely shared by the mystics of well nigh all of the world’s great spiritual traditions, from Rumi to Angelus Silesius to Chief Seattle to Zhang Zai. A growing number of modern scientists and scholars, such as Dean Radin, are also beginning to acknowledge that there is much more to our minds than mere brain activity. Indeed there are a couple journal articles acknowledging that we CAN heal with our minds and even wish for good weather. :) (I can tell you which articles they are and where to find them if you’re interested.)

    It is because of all this that Iike you I endorse this vision of all life as the manifestation of a Supreme Power rather than so many bits and pieces of brute matter. But I can merely endorse it intellectually at my current stage of evolution if you like; I have yet to experience it first-hand. And until we do, I think we still have to treat our illusions of our material existence AS IF they are real. We still have to deal with resource shortage, climate change, etc… What do you think?

    In any case, it’s just wonderful to find someone who shares this vision with you, someone you can talk to regarding such things without the fear of ridicule. Life really seems a slightly less lonely road to travel for me now. Thanks ever so much, Rick. :) (Warm online hug.)

    • Ricardo Fontanot

      My dear friend.
      Congratulations. What you write is more important and significant than you wouldn´t know yourself. I think it is so, because you are a perfect example of what is going on with me. We think we are not there, but somewhere, in the infinite counsciousness that is the Origin of All There Is, we know Who We Really Are. The problem is, we would rather experience it in its whole Glory and Fullness, than just have it in our intellect. But some day, this direct experience will present itself!

      By the way, before continuing, thank you for recommending me Joel Goldsmith’s book. That is exactly the type of material I like to read. If it were not for all those people out there that write these kind of matters, or so many masters that you can somehow meet in the Internet, I would really get depressed. And, by the way, you are some of them. Only that you don’t know. The whole purpose for them to write what they write, is to awaken people, and you are a marvellous, fortunate example, of the fullfillment of their purpose, which is also Gods purpose. So, welcome to the club!

      Now, my first beautiful sublime experiences in meditation presented itself back in 1993, when I first met a True Master, Gurumayi Chidvilasananda. It is the first time in the tradition of Siddha Yoga that our Master is a woman. She inherited her power from her master and so on. I have had incredible experiences with her. One of them was, when I was really, really frustrated not being able to get to her (the crowd was enormous and I wanted to “complain” about things that the organizers of the event did, and that were not right, and I thought she would know and didn’t react to it in her last address to the public) out of a sudden, believe it or not, a channel opened through the crowd of people, they left this space open, so that I got visual contact with Gurumayi! I was back there in this enormous room, and from where I was standing to where she was standing in the front of the room, I could see her, right into her eyes, I felt. Immediately her sight literally penetrated each and every cell of my body, I felt my eyes were hurting (somehow burning) and immediately my cheeks were wet in tears! I felt so an enormous emotion, that I cannot describe it. But the message was very, very clear. It was: “you think I don’t listen to you? You think I don’t know what you are asking or wanting from me? I am all-present, I am Godlike, as you are! I am ever-present, conscious, etc”

      The worldly appearances are not the same as “The Ultimate Reality, my dear G. Wang!

      I had other experiences during meditation on that occasion. But, please believe me, those experiences have not (sorry, on one occasion, while I visited her temple in Mexico I had a “good” meditation experience, as far as I remember) repeated themselves in years. The knowledge, the greater and greater certainty grows. And especially when I meet people like you that, believe me, happens in rare occasions, I know more and more things like: “We are all one (soul)” You are a reflexion of myself. We will unite in Oneness when we return to our origin: Oneness. Alfa and Omega. Meanwhile we experience what is the intention to experience in Gods Creation: Going from the darkness to the light. This is the way God experiences Him (Her) Self: Through you. Through us! He created what He-She is not (darkness, hatred, everything), because you are (He-She is) (or experiences Him-Herself) only compared to what He-She is not. You cannot know what you are, my dear friend, but only comparing yourself with what you are not. That is the most beautiful knowledge I have with regards to why God created human relations (the most beautiful are, in my oppinion, “romantic” or love relations). The other person is there for you to know Who You Really Are, or want to be in Your Next Most Beautiful State of Being. When you deal with a discussion, with a moment of love, with every moment in life, you are demonstrating Who You Are with regards to…. (solving a problem, etc.). God Experiences Who He-She Really Is through us by comparing What He Is with Regards to what He-She is not.

      That is Creation. Religion says that sex is only intended to have children. I am happy to know that sex is a momento of Oneness between you and your partner. And of course, only sex with love is worth the while. We all yearn for Oneness. It is because of this that it is so sad that our schools, religion, fathers, grandfathers, etc., teach us that we are alone, we fight “against” others, we must be “better” than others, etc. It is all right to be better and better as time goes by, but We Are All Created Equal (American Constitution, which made Her Great and Powerful). We are All One. Therefore it is true: Do not do to others what you don’t want to be done to you. You reap what you sow, etc.

      Well, I tend to write and speak too much. I don’t know, if I am sahying something “important” to you.

      But, to answer your question: Yes, I know that what you dearly want, you too often don’t get. And that is because of wanting it. I want very dearly that some meditation (and other) experiences repeat themselves, and the Universe gives me back exactly that: WANTING. You must just be there were you want to be. Sudenly it happens. Be patient. But, most important of all, you are on the right track, as well as me and all others who yearn for The Truth.

      God bless you (sorry to have answered so late)

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