I think this is the beginnings of an economy based on perpetual growth and fossil fuel energy running headlong into geological energy constraints. Basically I see an undulatory downward path for the rest of my life. From here out, I think any rallies in our economic condition are going to be met with spiking commodity prices that knock us right back down.
Posted: Thu May 19, 2005 4:04 pm Post subject: Shipping Rates for Coal, Iron Ore Hit 10-Month Low
The Baltic Dry Index which measures shipping costs for bulk materials apart from oil has lost 40% of its value since December. Some commentators regard this measure as one of the most valuable indicators of world economic activity. This rapid rate of decline suggests that a global recession is on its way. At the moment world stock markets do not seem to be reflecting this trend but is only a matter of time until reality bites. When it does watch out.
thanks for the tip. Ball bearing plants seem to echo this trend, when their orders are way down, the economy is usualy headed for trouble in a few monthes or less. _________________ With Love to all, and Malice to none.
"A people is conquered not when they lose a war, but when they adopt the song and customs of the enemy"
-Chacham S
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