Handbasket Report — RIP BDI

Think the Baltic Dry Index (BDI) was offering up bad news? Well, it was, but the BDI was just the canary in the mine.

Things have gotten worse. Read all about it in the UK’s Telegraph: “Shipping Rates Hit Zero As Trade Sinks.

Too chicken to go there? I don’t blame you.

But here’s the first paragraph:

Freight rates for containers shipped from Asia to Europe have fallen to zero for the first time since records began, underscoring the dramatic collapse in trade since the world economy buckled in October.

Oh, go ahead, be brave, click the link.

Cassandra

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One Response to “Handbasket Report — RIP BDI”

  1. Sybil Says:

    I clicked.

    Sometimes I hate being right.

    This week our school placed special memos in the teachers’ lounge, breathlessly announcing that a couple of financial people would be coming in to help us plan for retirement. I kept to my motto of not being responsible for fixing the broken people. Zen flowed in through my mouth and out through my nose and the notices were soon forgotten.

    Forgotten, that is, until one of the salesmen found me and struck up a conversation. I’ll leave out the blood-curdling scorn, but mention that I covered the entire lounge whiteboard in vocabulary words and diagrams for him to study.

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