There’s an old saying: “As GM goes, so goes the nation“.
The “Baltic Dry Index” is widely believed to be a proxy for the health of the overall economy. The Baltic Dry is down 90% since May.
They said Lehman – like the U.S. itself – was “too big to fail“. Lehman failed.
As GM, the Baltic Dry Index and Lehman go . . . so goes the nation?