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

To: russwinter who wrote (41996)	9/21/2005 1:31:07 PM
From: CalculatedRisk	Read Replies (1) \| Respond to of 110194

The FED Flow of Funds report is out for Q2. I haven't had a chance to dig through the numbers yet, but household mortgages showed another huge increase. Just some quick numbers ... Mortgage Debt Increases $231.1 Billion in Q2 calculatedrisk.blogspot.com

To: russwinter who wrote (41996)	9/21/2005 1:37:13 PM
From: Wyätt Gwyön	Read Replies (2) \| Respond to of 110194

The Models are Converging: What does it mean for energy? Posted by Prof. Goose in Supply/Production Wed Sep 21 at 12:47 PM EST A quote from a Bloomberg article (thanks Dave): "Rita is developing into our worst-case scenario," said John Kilduff, vice president of risk management at Fimat USA in New York. "This is headed right into our other major refining center just after all the damage done to facilities in Louisiana. From an energy perspective it doesn't get any worse than this." This is why Rita is going to be a huge deal for energy. With supply and demand at such a knife's edge because of peak oil, and the damage that Katrina has just wrought, more supply outages, refinery problems, and the like, are going to be very problematic and could drive prices higher. We have already used up some of the SPR. We have already asked the world for its help once, and it flooded the market as best it could. However, this time around, one has to wonder, with OPEC demonstrating that it has no more light sweet oil to give yesterday, what the world can do for us if Rita does a lot of damage to the major oil infrastructure. Matt Simmons, on CNBC this morning, said that Rita could be another "Pearl Harbor" for the United States, though I think that's a bit strong. If Rita turns to Galveston or up to the TX/LA border, I would be more inclined to agree with him though after what our industry insider said yesterday. theoildrum.com