Gold up: $1759 Silver up: $34.28
Call it a glut, call it whatever you like, but Global Shipping Demand has fallen through the floor. And the Obama-worshipping mainstream media is desperately trying to ignore, for fear of making THE MESSIAH look bad.
I remember those pics...and, of course the answer is no!
I was on a thread on this subject and one linked article was comparing it to the S&P 500 and showing no correlation. Their conclusion was that the baltic dry index measures...shipping.
To which I responded, the S&P 500 represents...faith.
Only one of those things is tangible.
Even if more ships have been put into service, creating over-capacity, somebody has to pay for those ships.....they are not free.
If they are not hauling cargo, you will see financial backers (banks) take a bath on this.
The Baltic Dry Index has been a lousy indicator of future activity for the last several years.
Denver area is seeing a surge in economic activity. Houses and large ticket items selling like hotcakes all of a sudden. Hearing stories of multiple offers on real estate. My boat dealer friend says he’s sold 9 high-priced water ski boats in 5 weeks, very unusual to do in the winter. He also was 14% above last year’s numbers at the recent boat show.