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   Strategies & Market TrendsThe Epic American Credit and Bond Bubble Laboratory


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To: Elroy Jetson who wrote (29334)3/24/2005 9:21:37 PM
From: johnlw
   of 110190
 
Pardon me....

"We both know the contract maintenance workers are far from the brightest people on the planet,"
I am dumbfounded…
Where does this come from? WTF does this have to do with anything related to this disaster?
I have spent 25 years in a maintenance role in natural gas processing and petrochemical facilities.
I have met pompous and arrogant engineering attitudes off and on yet I have never heard such a statement as that, especially under these circumstances. There are 15 families missing a father, brother, or son a day before the Easter weekend and some asshole on the internet is blowing off their contribution to society and their family.

I am lucky enough to live and work in Canada where worker safety is considered paramount.
My first reaction was how could this happen? Is BP not required by law down there to provide a safe working envelope? Obviously not, considering the safety record of that facility is appalling.

The callous attitude displayed here is very disturbing-pursuit of profit, cannon fodder mentality, and elitist.

I have read your posts in the past with some interest, you have seemed to have a certain insight and viewpoint that up until now I found valuable.
That won’t be true in the future.
This is my third try at this post, no doubt it will come off wrong
John

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To: benwood who wrote (29341)3/24/2005 9:46:21 PM
From: starhawke
   of 110190
 
Brewed by Red Hook until 2002, but it was called Double Black Stout.

JS

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To: russwinter who wrote (29340)3/24/2005 9:58:18 PM
From: orkrious
   of 110190
 
So despite what I believe is a major economic slowdown getting underway, copper stocks are still in extreme tight supply

thx. glad I kept 1/3 of my NTO.

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To: orkrious who wrote (29345)3/24/2005 10:07:36 PM
From: orkrious
   of 110190
 
this is the best, most concise article I've read on what awaits us

gold-eagle.com

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To: johnlw who wrote (29343)3/24/2005 10:27:45 PM
From: Elroy Jetson
   of 110190
 
I agree that comment was insulting to contract maintenance workers. I apologize for that. It appears I have retained the prejudice toward outsiders, common to the refinery communities I worked with. They are insular communities where people can tell what your function and rank is by the color and markings on your hard hat.

Although contract maintenance is well paid it is frequently an unpleasant, dirty and dangerous job. Most people prefer other jobs if they can get them. These outside workers are also new to the particular plant they are working in and, as such, are seen as a likely problem waiting to happen - an untested new component.

As I'm sure you noticed, outsiders at a refinery are treated with great suspicion. If employees don't recognize you on sight they'll want to know more - even if you're wearing an authentic looking id badge and the correct markings on your hard hat. And that was decades prior to the 9/11 hysteria.

As a result of this culture, its extremely unlikely that any refinery would allow contract workers from outside to be in a position to create a disaster like this.

I will be very surprised if this was not caused by an extended, and thus unsafe, run-time between overhauls. I have no doubt that BP and their full-time employees are responsible.
.

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To: starhawke who wrote (29344)3/24/2005 11:19:25 PM
From: benwood
   of 110190
 
Ahh, right you are. Espresso Stout was by Pyramid, and the one I tried. A quick net search reveals that it didn't even have any coffee in it -- sure was black though!

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To: ild who wrote (29337)3/24/2005 11:48:13 PM
From: redfrecknj
   of 110190
 
"Sales of new one-family houses in February 2005 were at a seasonally adjusted annual rate of 1,226,000,
according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and
Urban Development."

census.gov

"Privately-owned housing starts in February were at a seasonally adjusted annual rate of 2,195,000."

census.gov

Builders appear to be building them at an annualized rate of about 1 million units more than people are buying them.

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To: redfrecknj who wrote (29349)3/25/2005 12:10:15 AM
From: CalculatedRisk
   of 110190
 
First, the "one-family houses" is a subset of "Privately-owned housing".

Privately-owned housing starts in February were at a seasonally adjusted annual rate of 2,195,000. This is 0.5 percent (±9.4%)* above the revised January estimate of 2,183,000 and is 15.8 percent (±8.8%) above the February 2004 rate of 1,895,000.

Single-family housing starts in February 2005 were at a rate of 1,775,000; this is 0.3 percent (±9.1%)* above the January figure of 1,770,000. The February rate for units in buildings with five units or more was 365,000.


So you want to compare 1.226 million sales to 1.775 million starts. This is about the usual ratio ... I don't exactly remember why, but I think some of it has to do with custom homes (that are built for the land owner) and never show up as sales.

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To: orkrious who wrote (29346)3/25/2005 12:46:50 AM
From: mishedlo
   of 110190
 
If You Think Higher Interest Rates Will Help the Dollar, Think Again!
gold-eagle.com

FWIW I disagree

If everything he says happens I could easily envision a higher dollar.
It all depends on the FED's response to what he is saying. In general, however I think most of what he says will happen.

Mish

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To: mishedlo who wrote (29351)3/25/2005 1:07:39 AM
From: LLCF
   of 110190
 
I think the dollar direction depends on what fed actions do to the real i rates vs other currencies AND of course the perception of such by those holding all those dollar reserves.

DAK

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