The Baltic Dry Index is an economic indicator that measures the cost of moving product from one place to another. In other words, if the cost of a ship moving products from China to the United States increases, then this index would increase by that percentage. Likewise, it the cost of shipping goes down, then the index declines.
The Baltic Dry Index at present is down 92%.
What does this tell us?
Goods coming into the US (primarily from China) are at a standstill. And this with the Christmas season approaching.
The wheels of economic progress have come to a stop. As mentioned in a previous post, adjusted for true inflation numbers, our economy is contracting about 10%/year. Of course this number will grow as the government continues to print money, forcing the cost of goods and services (at least in dollar terms) higher.
Merry Christmas? It is not looking to promising at present.