By Bill Holter – Re-Blogged From http://www.Gold-Eagle.com
No matter how you look at it, the global economic pie is shrinking. One might be able to argue this is not so based on individual statistical reports issued by various nations. The problem though is this, many reports do not line up with real world reports. For instance, how can “retail sales” in the U.S. grow when retailer after retailer reports worse than expected and contracting sales? The answer is what your own eyes, common sense and of course “individual companies” added together tell you.
On a broader scale, we are told the world is in recovery. Never mind contraction in Europe or bogus reporting in the U.S., China and elsewhere, “we are in recovery dammit!”. The best way to look at this fallacy for yourself to divine the truth is to look at trade. Or better, “trade rates”. I have mentioned this before, the Baltic dry index has been crashing and now is very close to where it was back in the late 1980’s.