OT Get ready the economy is about to tank:(

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Or, more likely, open it further.
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Obomba caused it to get our minds off of health care. (GRIN) ww
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Why can't they use one of the subs that was used to probe the Titanic wreck? They can take people down to great depths.
---MIKE---

>> (44 15' N - Elevation 1580')
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On Sun, 2 May 2010 17:07:53 -0400, snipped-for-privacy@webtv.net (---MIKE---) wrote:

The ROVs used in off-shore oil/gas fields are specialty items. Built for various tasks. I don't think they need a manned unit, as they can see the leaks from the operator's monitor on the ship.
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WW wrote:

No no no, it was George Bush and Dick Cheney. Don't dis da Messiah, he be dun gonna save all y'all!
TDD
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snipped-for-privacy@aol.com wrote:

That's just what I did on April 30th...I sold every share of BP in my portfolio.
Jeff
--
Jeffry Wisnia
(W1BSV + Brass Rat '57 EE)
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On Sun, 02 May 2010 22:48:40 -0400, jeff_wisnia

Unemployment at about 20% is far worse than the spill. Will be interesting to see how effective the government will be with the clean up (or they might just try to blame BP and sit back).
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-snip-

I wish my crystal ball worked as good as yours. I can't see into the future much at all. But looking at the past & present what you say is all wet.
So far I've heard Gov. Jindal, Janet Napoitano, the Sec. of the Interior, Pres. Obama, the Gen. [Adm?] in charge of the Coast guard, the guy on the ground with BP & this morning the CEO of BP, *all* saying that they are working together and will get it done.
This morning the CEO of BP said in no uncertain terms-- 'we are responsible. . . we will clean it up'. He reiterated that the state and federal government was helping- but that the responsibility for cleanup and recovery of the folks involved was BPs.
The interviewer [Stephanopolous] didn't seem to be grasping the concept that the CEO was saying 'We are not to blame for the spill'- our contractor is. But 'we are responsible'.
I get that. You can delegate the authority- but you can't delegate the responsibility.
When Stephanopolous said- 'It might take 10s of billions of dollars to completely clean this mess up, the CEO didn't blink- 'We're a big company, we can handle it.' Yeah, I guess. they made 14billion in 2009 & 25billion in 2008. They are doing ok.
I might be buying some BP stock once all the weenies bail. [I wonder how many of them bought it at $35 in 2009- and are getting nervous when it goes back below $55?]
Jim
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Huh? It's @ 10% now, and expected go lower by 1% both in 2011 and again in 2012.
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G. Morgan wrote:

The official unemployment rate is slightly less than 10% but "unemployment" is defined as "those looking for work."
When you add people who have given up looking for work and those who are grossly under-employed, i.e., a PhD in Chemical Engineering compounding Slurpees at a Stop & Rob, the number is in the 20% range.
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There are two (well more than that) numbers in play here. The so called "U3" number is the one that is usually talked about. This is the number of people actively looking for work (just under 10%, currently). The "U6" number is the number of people who have given up or are "underemployed". This "U6" number is now about 17%.
Here is a (fair?) comparison over the last century:
http://www.economicpopulist.org/content/u3-and-u6-unemployment-during-great-depression
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It wasn't "expected" to go above 8%. Obummer said so, remember?
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Bankrupt! Your high again I see, They have future guarnteed income, its called oil if you havnt heard, there is insurance and this may end relatively soon, but you go ahead and short sale BP, mortage the house too for your big trade.
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Nature will find a way to clean it up in a few years.
Meanwhile the lawers will haggle for about 10 years before anyone has to write any substantial compensation checks. In that time the accountants at BP will get this future expense on the books and real losses will be reflected into the stock price as earnings are reported, etc. In the end a few lawers will make out like bandits but most of the folks affected will get undercut on their real losses.
The only thing we really have to fear is the govt stepping in and trying to make it "better".
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news:dd0a0825-a442-4b13-

"Substantial"? "Compensation"? In my personal experience, no one will have to write any checks, period. I'm still waiting for my "reimbursement" for the $3k+ I spent treating my two cats who were poisoned by Chinese gluten/melamine in the Iams cat food I fed them. I'm part of the suit, sent in all the paperwork, and supposedly the suit has been settled. HowEVER, since there are still "motions" pending, it will be months, years, or never until I see any money. They "say" that we can get "up to 100%" of our out-of-pocket expenses, but I figure the lawyers will get paid in full and I'll be lucky to get $5 per cat. That almost pays for the cost of photocopying the paperwork and the postage to mail it. Almost. Doesn't compensate me for the loss of my 16 year old cat who was on track to live another 4-6 years (based on my other cats' typical live expectancy). My 11 year old has already turned completely white in the muzzle and the vet doesn't expect her to live more than 5 years, given her on-going medical problems. So, shorten a cat's life expectancy by more than 5 years and you don't even have to pay the medical expenses. Typical.
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Today BP got its first, of many more to come, insurance payments, 401,000,000.00 million. BP has netted about 5 Billion a year, each year, in 08-09. BP is probably worth 100s of Billions and you think so stupidly they will fail. No they will pay the US people their profit, for many years and contimue to pump oil.
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