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Monthly Archives: November 2009
Global risk aversion bounces back
Further to my recent comments about the weak US dollar being the funding currency for risk-taking around the globe the past 8 months, today we see the flip-side of this trade as risk aversion roars back amid reports that Dubai … Continue reading
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Baltic Dry Index: recent bounce not likely to continue
The Baltic Dry Index (BDI) collapsed in 2008 and into the summer of 2009, then rallied sharply the past 2 months. This has encouraged some to conclude that global shipping is now in recovery. The problem is that as a … Continue reading
Warning: the consensus sees no respite for the U$ dollar, no relapse for China
The most common consensus today is that the U$ will continue to relentlessly fall and that China is an economic saviour for the world. Colour me skeptic: I can't buy either view. China is a communist country that still arrests … Continue reading
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