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  • ABG -1.21 - -1.31%
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Edmunds Sees Red, White and Blue
Subprime Buyers Prefer Dodge
Used Vehicle Prices Remain Steady
NextGear Names Credit Exec

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The Shipping News

One of the best economic indicators is the Baltic Dry Index, which surveys brokers around the world and asks how much it would cost to book various cargoes of raw materials on various routes. The Index started dropping like a rock right around Memorial Day, the same time people stopped coming to your lots and buying cars.
I have no direct access to the Baltic Exchange in London, but I do have some connections to Great Lakes shipping. My wife’s father is a retired freighter captain and two of her brothers sail. My father-in-law said the boats always see an increase in activity about six months before the general economy improves and right now they’re going like crazy.
So, keep doing whatever your doing to keep the lights on and maybe the economic trend will reverse itself by next Memorial Day.