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Folks This is the day OCT 24th, that will determine the course of enterprise corruption and its ultimate worldwide fail. The road from this day forward will not be "..for the timid.."
..Those words were typed for a reason and things only get more dangerous from here. To take down the most God damned powerful force.." on the planet will take the nothing but the best each of us has to offer. Weather it be with brain, braun, or beauty we will each play a part...
...if you so choose.
Originally posted by shermanium
big file. lots of good stuff.
`Biggest Bubble of Them All' Is Globalization: Chart of the Day
By Michael Patterson
Oct. 24 (Bloomberg) -- The 90 percent tumble in the global benchmark for commodity shipping costs since May exceeded the Dow Jones Industrial Average's plunge during the Great Depression, signaling globalization is ``the biggest bubble of them all,'' Bespoke Investment Group LLC said.
The CHART OF THE DAY shows the rise and fall of the Baltic Dry Index, a measure of freight costs on international trade routes, along with three other bubbles during the past decade identified by Bespoke: The Nasdaq Composite Index of technology stocks, the Standard & Poor's Supercomposite Homebuilding Index and the CSI 300 Index, a benchmark for Chinese equities.
The Baltic Dry Index's drop from its peak just five months ago surpassed all of those, along with the Dow's 89 percent retreat from 1929 to 1932, according to Bespoke.
``The Baltic Dry Index had a meteoric run since the start of the decade, as it became one of the key symbols of the `globalization' trade,'' Paul Hickey, co-founder of the Harrison, New York-based research and money management firm, wrote in a report yesterday. ``It now appears that like any `new thing,' the globalization trade went too far.''
The Baltic Dry Index fell yesterday for a 14th straight session as the freeze in money markets curbed traders' ability to buy cargo on credit.
The Nasdaq plunged 78 percent from 2000 to 2002 as investors concluded high-priced Internet stocks weren't supported by profits. The S&P index of homebuilder shares has dropped 82 percent from its 2005 peak as the U.S. suffers its worst housing slump since the 1930s. China's shares have fallen in the past year as slowing economic growth and new regulations prompted traders to shun stocks that had climbed to the most expensive valuations among the world's 20 biggest markets.
The Baltic Dry Index represents the cost of shipping commodities like coal or soybeans in cape-sized vessels. And the cost has fallen sharply. Stephen Beard explains why this index is often a yard stick for the world economy.
The Baltic Dry Index has fallen by almost 90 percent since May. Back then, the cost of hiring the biggest bulk vessels was $240,000 a day. Today, it's just $9,000.
These are the cape-size ships -- too big to get through either the Panama or the Suez canals. So they go around the capes. They carry raw materials like coal, iron ore and wheat. The collapse in demand for these vessels is largely due to a sharp fall in demand from China.
The drop in the Baltic Dry Index is an ominous sign, says David Osler of the Lloyds List shipping journal:
David Osler: Often it's seen as a leading indicator of the world economy because these kind of ships are carrying such crucial raw materials. Yeah, the real fear has to be some sort of prolonged slump.
He says another reason for the big fall in the index has been a number of new ships have arrived on the market just as global trade is slowing down.
In London, this is Stephen Beard for Marketplace.