Has anyone noticed the state of the Baltic Dry Index lately? Has fallen off a cliff right out of the gate at the start of the year.
Index is down 67% since last October. Earlier this month it broke below the crash lows of December 2008. Yet this gets zero press coverage. Quite astounding, really.
World trade has fallen down and cannot get up. This spells BIG trouble for the BRICs especially.
Today's headlines about a new Greek bailout mask the problems with the deal. I seriously doubt all the other Euro members approve it. Finland and Germany likely vote no. Is it any wonder that European stock market indexes are down today?
I am with you, it is just a matter of time before EDZ takes off.