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  • Infrastructure Is Making News [View article]
    Mark:
    Agree with you 100%. Call me cynical but this "smells" an awful lot like the contrived anti-commodity decline in 2006 just before the elections in November. I mean let's be logical here. With Gustav we are faced with probably a 50-50 chance of significant supply disruption in oil and nat gas. And going into the weekend the energy traders selloff? What am I missing here? That's just not logical, demand destruction notwithstanding. It doesn't mater if we draw on the SPR. That crude still has to be refined to be of any use and over 25% of the country's refinery capacity is in the path of the storm. Likewise I agree wholeheartedly that China and India with high single-digit growth rates are a helluva lot more attractive than Financials and Retail. Those two sectors are basically on "life support". Way too much risk to deploy any significant capital there.
    We have to remember that Wall St. hates commodities. They have always hated commodities. That is why it is so delicious to see commodity traders making money while the "pond scum" investment bankers go broke. They brought it on themselves and I have no sympathy for them whatsoever.
    I enjoyed reading your column.

    Yank
    Aug 30 10:58 am |Rating: 0 0 |Link to Comment
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