Baltic Dry Index Implodes, Signals Global Economic CollapseSubmitted by Bob-45 on Tue, 07/17/2012 - 09:44
July 17, 2012 by Brandon Smith
In January, I wrote “Baltic Dry Index Signals Renewed Market Collapse,” an analysis of the record-breaking low hit by the Baltic Dry Index and its implications for the global economy; namely, that it signaled a steep decline in true demand around the world and that similar declines in the index’s past have almost always prophesied a crisis event in financial markets.
The mainstream media attempted to write off the implosion of the index as a fluke tied to the “overproductions of cargo ships” instead of a warning sign of deteriorating demand. The past six months have proven that assertion to be entirely false.
Manufacturing has tumbled in the United States, the EU and Asia simultaneously as orders drop back to the dismal levels last seen in 2008-2009 after the credit crisis first took hold, as reports Reuters, the Los Angeles Times, The Manufacturer and The Tokyo Times.
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