Comments on: Refiners as proxy for demand: layoffs for first time at Valero http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html a finance news and opinion site Thu, 18 Mar 2010 02:39:58 +0000 hourly 1 By: jxhttp://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-6307 jx Wed, 09 Sep 2009 16:17:26 +0000 http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-6307 Breaking news - Valero announced reduction of IS workforce at it's refineries. Breaking news – Valero announced reduction of IS workforce at it's refineries.

]]> By: aitraderhttp://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-6299 aitrader Wed, 09 Sep 2009 05:15:40 +0000 http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-6299 I spell it d-e-f-l-a-t-i-o-n-a-r-y s-p-i-r-a-l. I spell it d-e-f-l-a-t-i-o-n-a-r-y s-p-i-r-a-l.

]]> By: thegrinderhttp://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-6298 thegrinder Wed, 09 Sep 2009 00:18:59 +0000 http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-6298 I think that it is truly a credit supply issue since many a dolt binge addicts would continue their ponzi like spending if the fraudulent securitization market practices continued. The retard consumer is feverishly reducing debt because it is plain survival tactics now imo.<br>Thanks. I think that it is truly a credit supply issue since many a dolt binge addicts would continue their ponzi like spending if the fraudulent securitization market practices continued. The retard consumer is feverishly reducing debt because it is plain survival tactics now imo.
Thanks.

]]> By: Edward Harrisonhttp://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-6295 Edward Harrison Tue, 08 Sep 2009 22:16:16 +0000 http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-6295 It sounds a lot like the consumer deleveraging we expect is happening. The questions now are: 1. will it continue in the face of incipient asset price inflation 2. can it continue if the labor market does not turn around and 3. is it a credit demand or credit supply story?<br><br>My thesis has been it is a credit demand story predicated on the need to deleverage. So far, this seems right. It sounds a lot like the consumer deleveraging we expect is happening. The questions now are: 1. will it continue in the face of incipient asset price inflation 2. can it continue if the labor market does not turn around and 3. is it a credit demand or credit supply story?

My thesis has been it is a credit demand story predicated on the need to deleverage. So far, this seems right.

]]> By: thegrinderhttp://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-6294 thegrinder Tue, 08 Sep 2009 22:10:36 +0000 http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-6294 nice work ed. what do you make of the sharp drop in consumer debt for june and july? nice work ed. what do you make of the sharp drop in consumer debt for june and july?

]]> By: Edward Harrisonhttp://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-6293 Edward Harrison Tue, 08 Sep 2009 20:33:03 +0000 http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-6293 70 dollar oil has more to do with dollar weakness and inflation than it does<br>with a resurgence of demand for crude. There a lot of so-called proxies for<br>economic activity like FedEx or Cargo shipments or freight traffic. Another<br>might be refining margins. 70 dollar oil has more to do with dollar weakness and inflation than it does
with a resurgence of demand for crude. There a lot of so-called proxies for
economic activity like FedEx or Cargo shipments or freight traffic. Another
might be refining margins.

]]> By: aitraderhttp://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-6291 aitrader Tue, 08 Sep 2009 20:26:48 +0000 http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-6291 And oil is at $70 dollars a barrel? Color me confused. And oil is at $70 dollars a barrel? Color me confused.

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