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esandy
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>The Essence of Fiat Destruction - Andy Hoffman - Miles Franklin
Baltic Dry Index has dropped to 933 on 12/9/2014. BDI was 700 on 12/21/2012 so the statement quoted from Zero Hedge that BDI has fallen to its lowest December level since 2008 is not strictly correct.

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Beginning of the headline :I could have gone so many different directions this morning as soooo many scary things are occurring simultaneously.  However, the key theme is what hit me like a “ton of bricks” as I awoke at 3:00 AM – i.e., the “Great Deformation” of economic activity and financial markets caused by fiat currency hyper-inflation.  The catalyst for this revelation was this article by David Stockman, which I read in preparation of discussing the utter collapse of energy prices we warned of two months ago – with ... Read More
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