ASX,NZX and NIK are on way down on disbelief …
By Daniel at 2 February, 2010, 9:48 pm
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The Wall St. manipulation /rotation through the NZD,crude,… didn’t confined Asia,because off the BDI :Starting in a London coffee house about A.D. 1744, the Baltic Dry Index (BDI) has since measured of the price of moving major raw materials (such as coal, iron ore and grain) by sea. Today, that measurement is made daily and almost minute-by-minute.
According to The Baltic, the BDI “provides both a rare window into the highly opaque and diffuse shipping market and an accurate barometer of the volume of global trade—devoid of political and other agenda concerns.” This absence of political influence is important because the BDI is one of the few economic indicators can’t be manipulated to deceive the public.
Other leading economic indicators—which serve as the foundation for important political and economic decisions—are often manipulated to serve special interests. Payroll or employment numbers are often estimates; consumer confidence measures mere sentiment; gross national product figures are consistently revised, etc. On the other hand, the BDI is totally devoid of speculative content. Unlike stock investing, people don’t book freighters based on sentiment or a hunch. People only book freighters when they actually have cargo to move.
Thus, the BDI provides a very accurate measure of the amount of “global” trade that’s taking place at any given time, and thereby provides a very accurate picture of the true state of the “global” economy.
The BDI broke after a stimulus blib,the last support and is again in free fall.http://www.dryships.com/pages/report.asp
- doubledutch
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