The price of lobster has recently taken a sharp nose-dive. Interestingly, the price of the bottom-dwellers once fed to prisoners in Massachusetts predicted both the 2000 dot.com bubble collapse, as well as the 2008 mortgage/banking crisis. Is the plunging price of lobster predicting another financial collapse is on the immediate horizon? Max Keiser discusses with Maine Congressional Candidate John Logan Jones on the latest Keiser Report.
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you are joking right? is it april 1st? the price of lobsters is relevant how?
Watch video from 6:20 on:
Interesting concept.
To eat or not to eat? Is that the question?
@snowrider It is an interesting concept to use lobster prices to predict market crashes. lol
I would love to know why but I couldn’t listen to Max’s ego for enough time to find out.
@Chief You’re right brother, egos can be outright dangerous… nowadays it is all over the place.
Are we grasping at straws?
I suppose history will be the judge. I personally don’t place much value on the prediction bit, but it surely remains interesting and entertaining to at least some extent, especially if one can go out and get lobster at nose-dive prices. I mean, just imagine having lobster stew, lobster dip, boiled lobster, bisque and what have you for breakfast, lunch and dinner. lol Are we lucky or what?
I’m right with you silverbullion. Lobster for hamburger prices——priceless!
Doc, thanks for sharing this with us.
Beats reading tea leaves, doesn’t it?
LMAO By a very narrow margin I would say. lol
As a Mainer, I can buy a Lobster for a Silver Dime if that will help with your topic. LMAO
Well Charlie you can send some west I have dimes
Yes that’s true lol! I can also buy a gallon of gas for a silver quarter.
@Marchas45, Grrrrr!
Lobster is one of my favorite foods but even a Silver Half-Dollar wouldn’t buy one here in the Pacific NW.
That might buy a Dungeness Crab, though…)
Well guys the Lobster here is $3.00 lb and falling, I would send you some but it would cost more to ship them than to buy them. Lol So I guess I’ll have to eat them myself. LMAO
Now perhaps we can make a deal Lobster for Abalone I sure miss it. Used to dive for it of Catalina Island. Yum! Yum!
More likely people can’t afford it, the market saturates, prices drop…. the financial markets just lag that.
I haven’t watched the video yet. It’s possible this point was made. But there can be an indicator link with discretionary spending of the more well off. But the correlation certainly isn’t something I’d bank on as having consistency.
I’m reminded of a famous story Don Coxe tells about his early years as an analyst in the 1970s. It turns out that the South American anchovy harvest crashed one year and at the time, the fish was extensively used as a feed supplement for US livestock. It was an effective signal of cost-push inflation and Coxe used the event to sharpen his call for the 1970s as being a decade of rising inflation. But lobster has no where near as pervasive a roll in any supply chain.
If the stock market crashes, can’t blame the First Lady. She’s been eating her fair share.
@Flying Wombat
Hi FW good find on the pic or did you make it? lol
One should look to the BDI before any lobster price unless your having dinner
how about a Red Lobster sentiment indicator?
yes the price of lobster ist the best indicator for all financial markets, really out of the box.
And in the future we should consider the price of mayonnaise, because there is no better early indicator for the price of lobster!
Cheers!
The same couple would joined us to visit Virginia City are from San Diego. He knows a bit about the fishing industry in this city. He cited that the price for west coast Spiny lobster is $17 a pound and is nearly unobtainable The Chinese are buying that stock of lobsters along with other fish species and shipping them back to their home country. This is mostly culturally oriented buying but indicative of their desire to obtain this particular commodity. Lobsters could be seen as a canary in the mine field just as Tiffany’s fortunes are flagging as the buyers of high end items are not parting with cash as readily. Everything is indicative of something and pricy items will flag in their prices if the economy is not doing well. The Chinese have money; we don’t appear to be doing so well.
Reading these tea leaves might not give clear indications of overall economic trends but I would not discount this when coupled with several other items in the consumer basket.
Of course, Ben Bernanke will latch on to this in some government-sponsored hedonic crap storm of BLSBS to convince us the inflation is running at negative 5% in a vain attempt to convince us that everything is fine and gasoline will cost $2 a gallon next year.
Lobsters, we don’t need no stinking lobsters, in Ohio. We have monster crawdads! lol They really are huge and dirt cheap! We give them away.
Well it seems Lobsters just went up in price after that hit on the spot price. LMAO Hell what am I laughing at, hell lobster just went up and silver went down. Grrrrrr
The price of lobster is predicting the situation of the economy? Now that’s weird! o_o If that’s the case, then will the cartel start to manipulate lobster’s price also so that people won’t be able to predict the economy’s situation in the future?