It all still boils down to those of us without jobs aren’t buying stuff. Shipping out our manufacturing sector was a big mistake. If your economy is 70 percent consumer spending, those consumers need to have discretionary income.
Baltic Dry Index:
Dry Bulk Shipping Rates - July 8, 2009 - BDI Down 6 Straight Days
http://daytradingstockblog.blogspot.com/2009/07/baltic-dry-index-shipping-rates-7809.html
Yes that is very true. No jobs=no one spending money. I’d imagine a lot of these people see Crap and Tax on the horizon and realize that fuel soon will again be over $4 a gallon if it passes? Once that happens people will tighen down their spending even more and what is considered a necessity now will be forgotten.
If we hadn’t shipped our manufacturing overseas, we probably would not have had such a downturn. JIMO.
A Country that can’t, won’t, or don’t manufacture their own goods, is a slave to Countries that can, do, and will.