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B4 The Bell, Thursday September 2


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Cutups and Cutthroats

By MAUREEN DOWD

 

Published: September 2, 2004

I always enjoy hearing about how a teenage Dick Cheney stood off to the side with buckets of water to put out Lynne's flaming batons.

 

But there was an even better moment during Claire Shipman's two-part "Good Morning America" interview at the Wyoming ranch this week. Trying to humanize Dr. No, ABC was let into the inner sanctum to watch Mr. Cheney take his 4-year-old granddaughter on her first solo horsie ride and hear how he's teaching his granddaughters fly-fishing.

 

Ms. Shipman asked the vice president "his greatest guilty pleasure."

 

His wife quickly interjected that it was fishing. But we all know, of course, it's global domination.

 

http://www.nytimes.com/2004/09/02/opinion/02dowd.html

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It isn't just oil moving. Coking coal, the kind used in blast furnaces, is in tight supply as global steel production is booming. Billiton expects a 20% increase in steel production by 2010 and is increasing its output of hard coal. It takes a while to get these mines up and running as there has not been sufficient capital expenditure on them until recently.

The coal story is typical of many commodities. Insufficient capital expenditures on mining infrastructure caused by depressed prices. That will take most of the decade to address. And higher prices will be necessary or the stuff will not come out.

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And now they are selling the metals

gold getting punched hard

Dont you just love "free" markets

It's not due to anything funny about the market, the sudden drop in the price of gold is due to the weather. That +1000 tick? That's also due to the weather.

 

It's all a product of zillions of individual decision-makers rationally interacting within a perfectly free market, which, of course, is primarily a function of the weather. You must have been sleeping that day in econ class.

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The Brits have the eyes to clearly see what's happening to us.

 

The delegates wear designer chinos and yellow baseball caps and the talk is all about patriotism and duty - just don't mention the deficit welfare meltdown or what's really in the manifesto. Welcome to the Jekyll-and-Hyde world of the Republican convention, says Simon Schama in his second G2 dispatch on the race for the White House

 

The banana-yellow baseball caps, the Republican Convention's signature fashion statement, single "W" sewn at the front, worn with suit and tie, or glittery top, were a dead giveaway. This is not the kind of baseball cap pulled on backwards at the ballpark or at greasy spoon truckstops where Yew-Ess-Ay rules, and Real Men take pulls straight from the necks of their Buds before wiping the foam with the backs of their hairy wrists. No sirree, this cute banana item verges on the metro- sexual.

 

Flogging the flag

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It isn't just oil moving.  Coking coal, the kind used in blast furnaces, is in tight supply as global steel production is booming.  Billiton expects a 20% increase in steel production by 2010 and is increasing its output of hard coal.  It takes a while to get these mines up and running as there has not been sufficient capital expenditure on them until recently. 

The coal story is typical of many commodities.  Insufficient capital expenditures on mining infrastructure caused by depressed prices.  That will take most of the decade to address.  And higher prices will be necessary or the stuff will not come out.

Bingo Bearbones! Higher prices are necessary just to get the stuff out of the ground.

 

Coxe rants on about this at length. Commod bull market just starting and has legs.

 

'Stuff' does not magically appear by keystroke. <_<

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