There are two important charts I want my readers to see this morning.
The
first is a chart that is an indirect measure of demand in the global
economy. Right now, the Baltic Dry Index (BDI) sits at its lowest level
of the year. Since the beginning of 2014, the BDI has fallen 60%.
The
BDI measures the cost of moving major raw materials by sea in the
global economy. The thinking is that the lower the cost to move goods by
ship, the lesser the amount of goods to move (a strict demand/supply
price situation).
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