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The Baltic Dry Index Is Having Its Worst Year Ever

June 13th, 2014

shippingTyler Durden: At 906, the Baltic Dry Index slumped to 12-month lows showing absolutely no signs whatsoever of the Q2 renaissance in global growth that has been heralded by all the highly-paid meteoroconomists.

 

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In fact, thanks to increasing fears over China’s commodity financing ponzi scheme, this is the worst year for the Baltic Dry on record.

 

Of course, we will hear the echo chamber of ‘over-supply’ of ships rather than any ‘under-demand’ of actual aggregate product argument but the circularity of this argument is entirely lost on status quo huggers who viewed rising dry bulk commodity prices as indicative of growth (and built more ships) as opposed to the ponzi-financing scheme it really was… mal-investment writ large once again in a manipulated (and mismanaged) world.

This article is brought to you courtesy of Tyler Durden From Zero Hedge.


NYSE:DIA, NYSE:SPY


 

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  1. Ben
    June 17th, 2014 at 00:05 | #1

    BDI, PMI…all pointing south. The economy is sputtering badly but I guess the world is having too much fun watching the world cup to notice. Well, no harm in having a good time while it lasts because there is no escape from this one.

  2. Keelhaul
    June 13th, 2014 at 20:40 | #2

    Looks like the new normal, boys and girls.

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