{"id":14585,"date":"2015-11-20T07:57:57","date_gmt":"2015-11-20T12:57:57","guid":{"rendered":"http:\/\/olduvai.ca\/?p=14585"},"modified":"2015-11-20T07:57:57","modified_gmt":"2015-11-20T12:57:57","slug":"the-baltic-dry-shipping-index-just-collapsed-to-an-all-time-record-low","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=14585","title":{"rendered":"The Baltic Dry Shipping Index Just Collapsed To An All-Time Record Low"},"content":{"rendered":"<h3><a href=\"http:\/\/theeconomiccollapseblog.com\/archives\/the-baltic-dry-shipping-index-just-collapsed-to-an-all-time-record-low\" target=\"_blank\">The Baltic Dry Shipping Index Just Collapsed To An All-Time Record Low<\/a><\/h3>\n<p><a href=\"http:\/\/theeconomiccollapseblog.com\/archives\/the-baltic-dry-shipping-index-just-collapsed-to-an-all-time-record-low\/globe-matrix-public-domain\" rel=\"attachment wp-att-9479\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-9479\" src=\"http:\/\/theeconomiccollapseblog.com\/wp-content\/uploads\/2015\/11\/Globe-Matrix-Public-Domain-460x331.jpg\" alt=\"Globe Matrix - Public Domain\" width=\"460\" height=\"331\" \/><\/a>I 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.\u00a0 I have written a number of articles lately about\u00a0<a title=\"the dramatic slowdown in global trade\" href=\"http:\/\/theeconomiccollapseblog.com\/archives\/we-have-never-seen-global-trade-collapse-this-dramatically-outside-of-a-major-recession\">the dramatic slowdown in global trade<\/a>, but I didn\u2019t realize that things had gotten quite this bad already.\u00a0 Not even during the darkest moments of the last financial crisis did the Baltic Dry Shipping Index drop this low.\u00a0 Something doesn\u2019t seem to be adding up, because the mainstream media keeps telling us that the global economy is doing just fine.\u00a0 In fact, the Federal Reserve is so confident in our \u201ceconomic recovery\u201d that they are getting ready to raise interest rates.\u00a0 Of course the truth is that there is no \u201ceconomic recovery\u201d on the horizon.\u00a0 In fact, as I wrote about\u00a0<a title=\"yesterday\" href=\"http:\/\/theeconomiccollapseblog.com\/archives\/if-the-economy-is-fine-why-are-so-many-hedge-funds-energy-companies-and-large-retailers-imploding\">yesterday<\/a>, there are signs all around us that are indicating that we are heading directly into another major economic crisis.\u00a0 This staggering decline of the Baltic Dry Shipping Index is just another confirmation of what is directly ahead of us.<\/p>\n<p>Overall, the Baltic Dry Index\u00a0<a title=\"is down more than 60 percent\" href=\"http:\/\/www.bloomberg.com\/quote\/BDIY:IND\" target=\"_blank\">is down more than 60 percent<\/a>\u00a0over the past 12 months.\u00a0 Global demand for shipping is absolutely collapsing, and yet very few \u201cexperts\u201d seem alarmed by this.\u00a0 If you are not familiar with the Baltic Dry Shipping Index, the following is a pretty good definition from\u00a0<a title=\"Investopedia\" href=\"http:\/\/www.investopedia.com\/terms\/b\/baltic_dry_index.asp\" target=\"_blank\">Investopedia<\/a>\u2026<\/p>\n<blockquote><p>A shipping and trade index created by the London-based\u00a0<a title=\"Baltic Exchange\" href=\"http:\/\/www.investopedia.com\/terms\/b\/baltic-exchange.asp\" target=\"_blank\">Baltic Exchange<\/a>\u00a0that measures changes in the cost to transport\u00a0<a title=\"raw materials\" href=\"http:\/\/www.investopedia.com\/terms\/r\/rawmaterials.asp\" target=\"_blank\">raw materials<\/a>\u00a0such as metals, grains and fossil fuels by sea. The Baltic Exchange directly contacts shipping brokers to assess\u00a0<a title=\"price levels\" href=\"http:\/\/www.investopedia.com\/terms\/p\/price_level.asp\" target=\"_blank\">price levels<\/a>\u00a0for a given route, product to transport and time to delivery (speed).<\/p>\n<p>&nbsp;<\/p><\/blockquote>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Baltic Dry Shipping Index Just Collapsed To An All-Time Record Low I 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.\u00a0 I have written a number of articles lately about\u00a0the dramatic slowdown in global trade, but I [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[3594,1752,5983,303,305,6440,3761,4901,4856,805],"class_list":["post-14585","post","type-post","status-publish","format-standard","hentry","category-economics","tag-baltic-dry-index","tag-economic-contraction","tag-economiccollapseblog","tag-fed","tag-federal-reserve","tag-global-shipping","tag-global-trade","tag-michael-snyder","tag-shipping","tag-trade"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14585","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14585"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14585\/revisions"}],"predecessor-version":[{"id":14586,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14585\/revisions\/14586"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}