The Report That Will Blow Up The Eurozone

``According to Bullman, [the Baltic Dry Index] collapse in October was driven primarily by a fall-off in demand from China, where declining housing prices pushed purchasing managers to cut back on orders for the raw materials whose transport the Baltic Dry Index reflects. He said: "This collapse looks similar to the falls we saw in the Baltic Dry ahead of the recessions of the late 1970s and early 1990s -- but this drop is actually steeper."''