Doom and gloomers on Zerohedge and elsewhere frequently cite the falling Baltic Dry Index (BDI) as evidence the economy is weak, apparently oblivious to how the BDI works or its poor correlation with overall economic health. From Wikipedia: The Baltic Dry Index (BDI) is an economic indicator issued daily by the London-based Baltic Exchange. Not… Continue reading Economics Myths, Part 7: The Baltic Dry Index is a Reliable Economic Indicator