Via Glenn, I see this story. I know I commented last fall--somewhere--on the Baltic Dry Index, and think I blogged about it here, but now can't find it.
Shipping is in trouble. In a global economy, this means trouble. Obviously, we've got our troubles here. But others are being pinched too. The Baltic Dry Index has fallen off a cliff.
How we get out of this--peacefully--is a large question.