The Baltic Dry Index: The Only Economic Indicator Worth Tracking Right Now
The Baltic Dry Index: The Only Economic Indicator Worth Tracking Right Now
by Louis Basenese, Advisory Panelist, Investment U
Associate Investment Director, The Oxford Club
Wednesday, November 12, 2008: Issue #884
Forget unemployment. Inflation. Consumer confidence. Personal Incomes…
You can even ignore the ever-popular gross domestic product (GDP).
Most of the indicators that the market relies on to forecast the future are worthless in this type of environment. The truth is the data coming out of the traditional economic indicators isn’t current. By the time it’s being reported, the information is already weeks or even months old.
If you want to know when the global slowdown that’s erased $28 trillion in wealth (so far) will finally reverse course, pay attention to the obscure Baltic Dry Index. And nothing else. Here’s why…