It is to no surprise to see the collapse of the dry market earlier this afternoon and its respective index the Baltic Dry Index (BDI) at a historical low equalising that of the 6th of August 1986 level at 554 points! The situation, given the inflationary levels and the world’s worst economic crisis at all levels and for all nations, as well as the geopolitical upheavals will become unbearable as the 500 years historical cycle more or less coincides with the period we live today. By John Faraclas
There will be more to come and we need both business as well as political leaders with vision, firstly to contain this world economic chaos; otherwise I am afraid we might see things happening as per Thucydides’ Sicilian expedition decision… You dead well know what I mean…
Unlike the troubles in the ancient world and the different analysis of crisis for Rome (and Athens before), this crisis will demolish the foundations of what we knew in the last 115 years; Athens values survived, but Rome was for centuries a single political unit operating within a common cultural and psychological framework… but he collapse of both Western and Eastern Roman Empire still affects today to all intents and purposes… The new world and the new world order with its multi characteristics has the vulnerability of an abrupt and very costing collapse with incalculable repercussions as have predicted in July 2008…
For the record, the BDI wasn’t itself on a low level; all other indices where in a very bad state: the BCI at 687 (down 2), the BPI at 434 (the only index…up 4 points), the BSI at 523 (down 7), the BHSI down at 296! (Down 6)… and the wets where also on a downwards course: The BDTI at 920, minus 2 and the BCTI at 627 down 16!
Can any of you reading the above predict hope for better days and what’s the time-frame?
