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B4 the Bell, Fryday May 21, 2004


Guest yobob1

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Sherlock- you understand it perfectly-there are no available tankers anywhere, even if there was more oil-the refineries are at capacity and couldn't produce more. In Canada are pipelines going South are at full capacity both for Oil and NG. More Oil?? (pardon the Pun) is a pipe-dream. ;)

Thanks, Brian! :rolleyes:

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Taylor also said he isn't concerned about the impact higher official interest rates will have on U.S. consumers, whose spending accounts for about two thirds of gross domestic product.

That thinking has filtered through so nicely, that you get people like my brother, who with his wife & two small kids have decided to take a year or so off, traveling through the UK in a bus... without income or significant savings, and evidently, zero work ethic. According to him, this life experience is so wonderful, it's worth going into debt to support it (funny reasoning, that. I could envision saving hard for a year or two to finance a life experience, but never in a million years the other way round). He claims they have "loads of credit cards" they can use ... who are the idiots who issue these cards to people like this? He's a nice guy, but his credit risk is extremely obvious and anyone prepared to lend him money must be out of their minds. :blink: :blink:

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Mitsubishi Motors cuts jobs, closes plant

 

By YURI KAGEYAMA

The Associated Press

5/21/2004, 10:29 a.m. ET

 

TOKYO (AP) ? Japanese automaker Mitsubishi Motors Corp. will cut nearly 11,000 jobs, or 22 percent of its global work force, close an assembly plant in Japan and receive a $4 billion infusion from the Mitsubishi group and other investors under a revival plan its chief executive described as its "last chance."

 

Under the plan announced Friday, Mitsubishi Motors will keep open its U.S. plant in Normal, Ill., but will shutter an engine plant in Australia while keeping a passenger car plant there. The company will close a passenger car plant in Okazaki in fiscal 2006

http://pennlive.com/newsflash/lateststorie...43448283220.xml

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Taylor also said he isn't concerned about the impact higher official interest rates will have on U.S. consumers, whose spending accounts for about two thirds of gross domestic product.

That thinking has filtered through so nicely, that you get people like my brother, who with his wife & two small kids have decided to take a year or so off, traveling through the UK in a bus... without income or significant savings, and evidently, zero work ethic. According to him, this life experience is so wonderful, it's worth going into debt to support it (funny reasoning, that. I could envision saving hard for a year or two to finance a life experience, but never in a million years the other way round). He claims they have "loads of credit cards" they can use ... who are the idiots who issue these cards to people like this? He's a nice guy, but his credit risk is extremely obvious and anyone prepared to lend him money must be out of their minds. :blink: :blink:

MWH,

 

There is something perversely rational about that scenario. Take on BIG DEBT....and it's the bank's problem.

 

I know several people who have caved and are now running up any and all debt they can manage.......fully aware that they will simply walk away BK. This should be an expected (but not intended) consequence of unlimited credit creation.

 

Staunch savers are getting wiped, as their purchasing power erodes and yield is net negative.

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This statement is so beautiful---I just had to post it:

 

"It won't choke the recovery off, rather it will reflect the strength of the recovery itself," Snow said of the prospect of higher rates, in a radio interview with KMOX-AM in St. Louis.

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