Baltic Dry Index

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Baltic Dry and other dubious evidence in predicting doom

By Juan Pedro Marín Arrese, in Madrid | Analysts are busy collecting evidence for a huge recession. The 70% drop in the Baltic Dry Index, ranging now below the lowest level hit in 2009, has been hailed as the proof doomsday is looming. It seems that only bad news are taken on board, others being hastily dismissed as rubbish. Are prospects so bleak? Well, we are far from expecting a favourable…