BDI closed today below 1000. The second chart is Henry Hub Feb 2012 Natural Gas. 1000 what doesn't really matter. After all who even knows what $2.46 natural gas measures? Alright you smart readers know but most don't and don't care. As indicators they are both neigh impossible to manipulate. They both say we are headed into a global recession where production can be expected to decline. I expect the US economy to muddle along at these levels and Europe to get battered. More important, US housing will take that final capitulation price drop necessary to clear markets as the high end suffers more from wealth effects and strong dollar.
1 comment:
Goodbye middle class, it was nice knowing ya.
The middle class has been on the endangered list for a while now, a good, serious recession will put the final nail in the coffin.
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