"Chinese consumers of thermal coal and iron ore are asking traders to defer cargos and – in some cases – defaulting on their contracts, in the clearest sign yet of the impact of the country’s economic slowdown on the global raw materials markets"
The worlds largest producing nation defaulting and deferring on cargo's, is a sure sign of the deflationary global depression that is coming... China can't be producing much these days, because they no longer have ANY market for their goods.. I used to think this collapse would be hyper-inflationary, but the closer we get to it, it's clearly going in a deflationary direction..
This will be just like the last collapse, the great depression..
The falling prices of things all around you, like oil, scream deflation is HERE, everything is dropping in value! and the few things that aren't dropping are finding they have no more consumers, like stocks.. For proof no one is buying stocks just look at the facebook trainwreck.. Where facebook had to buy there own stock to keep prices from plunging
LOL! The ship is going down now, and the people are tired of playing the game NOW is the time to get the fuck out of the markets and keep take your money and buy the things you will need to weather the coming storm
Yes, gas prices going down have nothing to do with the fact that 1) we've fully switched over to summer formulas now, 2) some of the saber rattling towards Iran has died down, and 3) Obama threatened to go after the speculators driving up the price.