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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: austrieconomist who wrote (10714)	3/23/2004 12:50:03 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 110194

relevant construction steel story on Lou Dobbs last night Orange County CA construction firm feeling pinch of re-rods reinforced steel rods are used in concrete building parts re-rods are reported up 200% in cost over 6 months the bid price is fixed for contractors re-rods are ordered all along the way they are completing their projects at a loss some nearby firms see the same effect, and are laying off 1/4 of workers contractor asks but is not granted cost overrun by customer re-rod rose in price more in the last 6 months than in the previous 30 yrs nationally 7 steel mfrs are shutting down from inadequate supply they cannot find materials in sufficient supply NET, THIS IS ALL DEFLATIONARY TO THE ECONOMY WITH SHUTDOWNS AND LAYOFFS higher production costs means a profit squeeze I would say Greenspasm's reflation plan is backfiring too bad the construction firm does not have a mortgage affiliate / jim