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 Finance, Economics and Markets Fri, 10 Feb 2012 00:37:00 +0000 hourly 1 By: aitrader http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-57032 aitrader Wed, 09 Sep 2009 06:15:00 +0000 http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-57032 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: Anonymous http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-57031 Anonymous Wed, 09 Sep 2009 01:18:00 +0000 http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-57031 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. 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 Harrison http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-57029 Edward Harrison Tue, 08 Sep 2009 23:16:00 +0000 http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-57029 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. 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: Anonymous http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-57028 Anonymous Tue, 08 Sep 2009 23:10:00 +0000 http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-57028 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 Harrison http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-57026 Edward Harrison Tue, 08 Sep 2009 21:33:00 +0000 http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-57026 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. 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: aitrader http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-57025 aitrader Tue, 08 Sep 2009 21:26:00 +0000 http://www.creditwritedowns.com/2009/09/refiners-as-proxy-for-demand-layoffs-for-first-time-at-valero.html#comment-57025 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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