satx
Posts: 2771
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Embarrassed About Requests For Money From Abroad?

Tue Sep 06, 2005 10:57 pm

From a recent BBC NEWS article...

Quote:
The Red Cross is appealing for people overseas to contribute money to its Hurricane Katrina Appeal. But why does the world's richest nation need handouts? The public in many countries are accustomed to providing aid to poverty stricken developing nations, but the need to provide assistance to the most opulent country in the world may leave many perplexed. It is not a position the US is used to being in either. President George W Bush seemed to initially dismiss suggestions of receiving foreign assistance. "I'm not expecting much from foreign nations because we haven't asked for it," he said. "I do expect a lot of sympathy, and perhaps some will send cash dollars. But this country is going to rise up and take care of it.'' ... The gross national income of the US is $37,870 per capita, according to the World Bank. It is just $810 for tsunami-hit Indonesia and $200 for poverty-stricken Niger.

http://newsvote.bbc.co.uk/mpapps/pag...bc.co.uk/1/hi/magazine/4215336.stm

The whole idea of asking for monetary aide from foreign nationals is, in all honesty, extremely embarrassing to me. To me it implies that we might be too consumed with building other countries in our image instead of taking care of our own country. Is anybody else just a little embarrassed by this as well, or do you feel that even the richest countries on earth should ask for monetary aide from abroad when destruction befalls them?

[Edited 2005-09-06 16:01:35]
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Roger136913
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RE: Embarrassed About Requests For Money From Abroad?

Tue Sep 06, 2005 11:07 pm

Quote:
Quote:
The Red Cross is appealing for people overseas to contribute money to its Hurricane Katrina Appeal. But why does the world's richest nation need handouts? The public in many countries are accustomed to providing aid to poverty stricken developing nations, but the need to provide assistance to the most opulent country in the world may leave many perplexed. It is not a position the US is used to being in either. President George W Bush seemed to initially dismiss suggestions of receiving foreign assistance. "I'm not expecting much from foreign nations because we haven't asked for it," he said. "I do expect a lot of sympathy, and perhaps some will send cash dollars. But this country is going to rise up and take care of it.'' ... The gross national income of the US is $37,870 per capita, according to the World Bank. It is just $810 for tsunami-hit Indonesia and $200 for poverty-stricken Niger.



Quote:
The whole idea of asking for monetary aide from foreign nationals is, in all honesty, extremely embarrassing to me. To me it implies that we might be too consumed with building other countries in our image instead of taking care of our own country. Is anybody else just a little embarrassed by this as well, or do you feel that even the richest countries on earth should ask for monetary aide from abroad when destruction befalls them?

Not everyone makes $37,870 per year in this Country. Asking for aide or being offered from people around the world is great. Kudos to those Countries that have offered any type of help.
 
cfalk
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RE: Embarrassed About Requests For Money From Abroad?

Tue Sep 06, 2005 11:09 pm

As far as I know, the U.S. has not asked for much aid. Financially and techically, the U.S. can handle the problem. The only outside expertise I think the Americans could really use long term (and they have asked for it) is water management and levee construction experts from the Netherlands.

All other assistance is "feel-good" assistance, to let other countries feel good about helping out another country, IMHO. It's appreciated, I'm sure (providing temporary housing for a million people for six months, plus unemployment benefits, and the cost of rebuilding is gonna cost mega-billions), but the U.S. could do it on their own if they have to. The U.S. will also remember the countries that refused to help, even if only symbolically.

Charles
The only thing you should feel when shooting a terrorist: Recoil.
 
Falcon84
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RE: Embarrassed About Requests For Money From Abroad?

Tue Sep 06, 2005 11:11 pm

Nothing embarrassing about asking for help when it's needed, especially when it's a castastrophe of this proportion. The only one's that really seem upset are those arch jingoistic types, who don't want help, but who damn the world if they don't offer assistance.

I say the more the better. Whatever help is given, is needed and appreciated.
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dl021
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RE: Embarrassed About Requests For Money From Abroad?

Tue Sep 06, 2005 11:18 pm

I'd not be embarrassed if we did ask.

I'm very gratified and grateful for the offers of assistance from our friends around the world.

To put this in individual terms, it would be embarrassing if we asked for help to buy plastic surgery, or pot, not to help pay for chemo or rebuild our house.
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SlamClick
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RE: Embarrassed About Requests For Money From Abroad?

Tue Sep 06, 2005 11:24 pm

Quoting SATX (Thread starter):
The Red Cross is appealing for people overseas to contribute money to its Hurricane Katrina Appeal. But why does the world's richest nation need handouts?

Last time I checked the Red Cross was not The United States of America. The Red Cross operates pretty much all over the world except in Muslim countries where the cross is offensive. There it is the Red Crescent and Allah is okay with that. A huge percentage of its charity goes outside the US. So by all means don't contribute if the idea offends you. Just understand that there will be less in their coffers for the next tsunami or earthquake in a country without building codes.

* * *


Personally I think most countries have made generous offers and it appears that the people in those countries have responded pretty much as we have - sympathy for the victims, dismay over the lack of organization in the rescue efforts. I am grateful to all those nations which have offered aid, whether we accept the offer or not.

I had a very fortunate experience when I was young. We got burned out, right down to the ground. We had nothing out of that fire but the clothes we were wearing when we ran out of the burning building. I say 'fortunate' because (1) No one died. (2) We had a rental house standing empty and moved into that. (3) Even though we were not poor, the people of town gave us all kinds of aid - towels, kitchen utensils, coats, blankets etc. We accepted them with gratitude. I came away from that with a deep and abiding faith in the basic goodness of my neighbors. I've learned conflicting lessons about people since, but I really think that people do want to help each other in hard times.
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satx
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RE: Embarrassed About Requests For Money From Abroad?

Tue Sep 06, 2005 11:24 pm

Quoting Roger136913 (Reply 1):
Not everyone makes $37,870 per year in this Country

100% Agreed, but why not ask those Americans who are better off to make the donations. Why does the Red Cross feel the need to ask other countries to help fill their US-related coffers?

Quoting Cfalk (Reply 2):
As far as I know, the U.S. has not asked for much aid.

I would agree that it appears the government has not asked for any foriegn aid, but apparently some NGO's are starting to ask on their own. This has come as quite a shock to me.

Quoting Falcon84 (Reply 3):
Whatever help is given, is needed and appreciated.

Needed? As in there is no more left for us to contribute on our own? What is the point of being a superpower if it's not to handle your own problems as needed? The concept that we cannot handle this on our own truly floors me. If it's true, then there I believe our current system simply isn't working the way it should. If it's not true, then why are the NGO's starting to request help that isn't truly needed?
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TedTAce
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RE: Embarrassed About Requests For Money From Abroad?

Tue Sep 06, 2005 11:26 pm

Quoting SATX (Thread starter):
Is anybody else just a little embarrassed by this as well,

YES, Absolutely!!!

That fact we need help is offensive; and hilarious given that "most" conservatives I know say 'oh the poor (racial group) people, they don't know how to take responsibility for themselves. Why aren't we taking responsiblity for ourselves or should I get a V-chip shoved up my a$$ like my TV?
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cfalk
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RE: Embarrassed About Requests For Money From Abroad?

Tue Sep 06, 2005 11:31 pm

Quoting SATX (Reply 6):
Quoting Falcon84 (Reply 3):
Whatever help is given, is needed and appreciated.

Needed?

I agree with SATX on this. I would say that it is not really needed, but it is appreciated. The total insured cost of this disaster is going to be at least $25-30 billion, plus uninsured costs, but the economic costs (lost jobs and productivity, for example) will be far higher - I'd say in the $100-200 million range PER DAY. That means $10-20 billion of lost GDP in the first 3 months, and we know that some things will take a lot longer than that to get back to normal.

So even if the international community gave, say, several billion dollars (which is a ton of money), it would still be a small fraction of the total cost.

Charles

[Edited 2005-09-06 16:41:37]
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AeroWesty
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RE: Embarrassed About Requests For Money From Abro

Tue Sep 06, 2005 11:42 pm

Well let's not let facts get in the way of our "national embarassment". If you read further down the article:

"No country has enough rations to deal with such an immediate need and so an appeal for outside help is inevitable, say experts."

I'm not the least bit concerned about the Red Cross asking its sister organizations for relief help.
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Roger136913
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RE: Embarrassed About Requests For Money From Abroad?

Tue Sep 06, 2005 11:45 pm

SATX wrote

Quote:
100% Agreed, but why not ask those Americans who are better off to make the donations. Why does the Red Cross feel the need to ask other countries to help fill their US-related coffers?

I would agree why not ask those Americans who are better off. But in reality it does not work like that. Sure many well off Americans give and many don't.

The Red Cross as stated by SlamClick is not just the USA. It's an International organization that helps in the time of need.

I think if you ask those effected by the Hurricane who they want helping them won't matter. Just cause were a Super Power dose not mean we can't accept help when needed.
 
ANCFlyer
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RE: Embarrassed About Requests For Money From Abroad?

Tue Sep 06, 2005 11:51 pm

I don't think we've asked for monetary aide insomuch as technical assistance . . .

Regardless, I'm not embarassed about it - either way.

First, after the Trillions of US$$$ we've shoveled overseas it doesn't embarass me to say, hey, could get a hundred million or so back for this tad bit of emergency in our Gulf Coast region?

Second, I know some our arrogant American's here will likely crap themselves by this statement, however - we are NOT the experts on everything to everyone. So asking for technical assistance, whether it be building levees or managing flood plains or building airplanes should not be an embarrassment.

What I sincerely hope is, the $500 million donated by Kuwait and the other monies donated in the name of this disaster truly will go to the disaster, not to line some bureaucrats pocket. That is the single reason I never give cash . . . I made an exception this time . . .
FOR THOSE THAT FOUGHT FOR IT, FREEDOM HAS A FLAVOR THE PROTECTED WILL NEVER KNOW OR UNDERSTAND
 
1MillionFlyer
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 12:01 am

Quoting Cfalk (Reply 8):
I'd say in the $100-200 million range PER DAY. That means $10-20 billion of lost GDP in the first 3 months, and we know that some things will take a lot longer than that to get back to normal.

that number is way too high.

The rebuilding effort will spur the economy down there, also, Other than tourism, New Orleans isn't known for being a powerhouse of the US economy the impact will be minimal.
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satx
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 12:05 am

I just wanted to clarify a few things...

1. I'm not suggesting that we should refuse any assistance offered.
2. I'm not suggesting that folks won't benefit from foreign assistance.
3. I'm not suggesting that Americans aren't generous with their money.

I'm only suggesting that I thought it would take a lot more than this before the US-based NGO's would need or want to go looking for help from other countries. Maybe the Red Cross just jumped the gun a little, or maybe they really are having trouble getting enough money from Americans alone.
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MD-90
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 12:12 am

Quoting 1MillionFlyer (Reply 12):
The rebuilding effort will spur the economy down there, also, Other than tourism, New Orleans isn't known for being a powerhouse of the US economy the impact will be minimal.

WHAT? The port of New Orleans is incredibly important, as is the Mississippi River. This will have wide-ranging detrimental effects on the American economy.
 
TedTAce
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 12:16 am

Quoting MD-90 (Reply 14):
important

CRITICAL

Without the Mississippi, NOTHING (darn close to) goes to manufacturing in the midwest.
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1MillionFlyer
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 12:18 am

Quoting MD-90 (Reply 14):
WHAT? The port of New Orleans is incredibly important, as is the Mississippi River. This will have wide-ranging detrimental effects on the American economy



Quoting TedTAce (Reply 15):
CRITICAL

Without the Mississippi, NOTHING (darn close to) goes to manufacturing in the midwest.

There are many other ports which can be used. and plenty of other ways to get things to the Midwest.
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TedTAce
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 1:23 am

Quoting 1MillionFlyer (Reply 16):

There are many other ports which can be used. and plenty of other ways to get things to the Midwest.

Not efficiently.


Say you have 200 tons of steel to move from overseas to the US and namely Saint Louis. Sure getting it to port like SFO is cheap, but THEN what?

The Cheapest way is up the river on a barge. Using a plane or train is almost cost prohibitive.
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747400F
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 1:25 am

Quoting SATX (Thread starter):
that we might be too consumed with building other countries

hmmm isn't the US more concerned with destroying other countries?
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ANCFlyer
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 1:32 am

Quoting 1MillionFlyer (Reply 12):
Other than tourism, New Orleans isn't known for being a powerhouse of the US economy the impact will be minimal.

 spit  spit  spit  spit 

Economics wasn't your strong suit in school was it!!!!

How about the LARGEST sea port in the country with Mississippi River and railroad connections for the entire midwest and southwestern states? Ring any bells???

Do you think CPT Kirk simply beams the stuff to it's destination?

Sure, there are other ports . . . but the shipping costs for bringing goods from the east or west coast is prohibitive . . .

And how about oil production and refining . . . not a significant economic impact? Tell me MillionFlyer, do you drive? Anything? Have you not filled the tank on what ever that is recently, say in the last 72 hours?

Lastly, are you for real or did you post this lunacy just to  stirthepot ? Are you taking lessons from B744F??
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AeroWesty
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 1:36 am

Quoting 747400F (Reply 18):
hmmm isn't the US more concerned with destroying other countries?

I see you went to the Barbara Bush Charm School, yes?
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aa777jr
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 1:38 am

A liberal is a man who is right most of the time, but he's right too soon.
 
1MillionFlyer
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 2:03 am

Quoting ANCFlyer (Reply 19):
Economics wasn't your strong suit in school was it!!!!

Um, actually yes it was, and the stock market is agreeing with me today.

Quoting ANCFlyer (Reply 19):
And how about oil production and refining . . . not a significant economic impact? Tell me MillionFlyer, do you drive? Anything? Have you not filled the tank on what ever that is recently, say in the last 72 hours

In relation to the economy fuel prices are not an issue right now.

The markets are all up over 1% in the first 3 hours today because oil has dropped back down.

LOL at your myopia
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AeroWesty
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 2:15 am

Quoting 1MillionFlyer (Reply 22):
Quoting ANCFlyer (Reply 19):
Economics wasn't your strong suit in school was it!!!!

Um, actually yes it was, and the stock market is agreeing with me today.

During my years as a principal bond trader for a Wall Street firm, we had a phrase for prognosticators who thought they understood the markets like this. "Thank god we get our commissions whether it's a buy or sell order."
International Homo of Mystery
 
ANCFlyer
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 3:09 am

Quoting 1MillionFlyer (Reply 22):
Um, actually yes it was, and the stock market is agreeing with me today.

Fortunately, for today, you're right.

Quoting 1MillionFlyer (Reply 22):
In relation to the economy fuel prices are not an issue right now.

Wrong . . . the drop in Crude Prices is spurring on the market today. And unless we can continue to rely on Strategic Oil Reserves and the courtesy of other countries like Germany who has released oil from their reserves, this cycle will cease. The 30 million barrels of crude released from the US SOR will not last forever, a month perhaps, then what?

But I'll bet real American    we'll see a hefty increase in consumer prices for coffee, anything related to soybeans, etc. Anything coming through the Port of New Orleans and/or up the Mississippi River will be impacted. To presume otherwise is shortsighted . . .

[Edited 2005-09-06 20:11:09]
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halls120
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 3:47 am

Quoting SATX (Thread starter):
Is anybody else just a little embarrassed by this as well, or do you feel that even the richest countries on earth should ask for monetary aide from abroad when destruction befalls them?

Not at all.

Quoting ANCFlyer (Reply 11):
Regardless, I'm not embarrassed about it - either way.

First, after the Trillions of US$$$ we've shoveled overseas it doesn't embarrass me to say, hey, could get a hundred million or so back for this tad bit of emergency in our Gulf Coast region?

Second, I know some our arrogant American's here will likely crap themselves by this statement, however - we are NOT the experts on everything to everyone. So asking for technical assistance, whether it be building levees or managing flood plains or building airplanes should not be an embarrassment.

What I sincerely hope is, the $500 million donated by Kuwait and the other monies donated in the name of this disaster truly will go to the disaster, not to line some bureaucrats pocket. That is the single reason I never give cash . . . I made an exception this time . . .

 checkmark  checkmark 

Quoting MD-90 (Reply 14):
WHAT? The port of New Orleans is incredibly important, as is the Mississippi River. This will have wide-ranging detrimental effects on the American economy.

Navigation on the River has been virtually unaffected, according to reports I've read. And the "Port of New Orleans" proper isn't all that critical, when you consider that the real port stretches from just above Head of passes to Baton Rouge - 235 miles of the Mississippi River. The old wharves along the River in NOLA proper are rarely used these days. The container terminal and bulk loading facility in the Industrial Canal/Gulf Outlet area handles more freight - at least it did when I was there. While there is one grain facility on the West Bank of the River in NOLA, there are several transfer facilities above and below NOLA. IOW, if the port proper was shut down entirely - and it isn't - the economy would survive.

Quoting ANCFlyer (Reply 19):
How about the LARGEST sea port in the country with Mississippi River and railroad connections for the entire midwest and southwestern states? Ring any bells???

That "largest seaport" designation includes the entire 235 mile span mentioned above, and I'm not aware of any critical damage suffered along the route. According to the Post, the only two refineries along the river that aren't already restarting production are the two in the Ninth ward/Chalmette - and they are still under water.

Quoting ANCFlyer (Reply 24):
But I'll bet real American we'll see a hefty increase in consumer prices for coffee, anything related to soybeans, etc. Anything coming through the Port of New Orleans and/or up the Mississippi River will be impacted. To presume otherwise is shortsighted .

If the price increase is anything other than temporary, we're being gouged. Just like we are right now with gas.
"Suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself." Mark Twain, a Biography
 
ANCFlyer
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 4:00 am

Quoting Halls120 (Reply 25):
That "largest seaport" designation includes the entire 235 mile span mentioned above, and I'm not aware of any critical damage suffered along the route.

See this site, scroll down a tad to get the report highlighted below.

http://www.maritimematters.com/shipnews.html

US Coast Guard Reports On Post Katrina Traffic
September 4: US Coast Guard reports that eighty-six ships are caught in the aftermath of Hurricane Katrina, awaiting transit to or through the Port of New Orleans. All bridges, floodgates, and locks in the New Orleans area remain closed.


A bit worse condition than some might suspect.
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halls120
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 4:10 am

Quoting ANCFlyer (Reply 26):
See this site, scroll down a tad to get the report highlighted below.

http://www.maritimematters.com/shipnews.html

US Coast Guard Reports On Post Katrina Traffic
September 4: US Coast Guard reports that eighty-six ships are caught in the aftermath of Hurricane Katrina, awaiting transit to or through the Port of New Orleans. All bridges, floodgates, and locks in the New Orleans area remain closed.

A bit worse condition than some might suspect.

In the short term, yes. In the long term, no. Deep draft vessels do not use any of the aforementioned locks. The only bridges that affect deep draft vessels span the industrial canal - all the bridges that span the Mississippi River are suspension/cantilever and don't require opening. The ICW will definitely feel the pinch for awhile, but I'd bet that the problem with deep draft vessels is that the SW Pass pilots, the Crescent River pilots, and NOLA-Baton Rouge pilots are not on station. It will take time to get back to their respective stations and get traffic moving.

86 ships on backlog is nothing. Three days of fog or a collision at Head of passes will do the same thing.
"Suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself." Mark Twain, a Biography
 
flylondon
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 4:14 am

Quoting SATX (Reply 6):
100% Agreed, but why not ask those Americans who are better off to make the donations. Why does the Red Cross feel the need to ask other countries to help fill their US-related coffers?

Having briefly worked for Red Cross fundraising whilst at university I can tell you as soon as anything happens the Red Cross calls all their donors with sob stories to get increased regular donations. They might do amazing work, but their fundraising ethics leave a lot to be desired.
 
halls120
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 5:19 am

Quoting Halls120 (Reply 27):
Quoting ANCFlyer (Reply 26):
See this site, scroll down a tad to get the report highlighted below.

http://www.maritimematters.com/shipnews.html

US Coast Guard Reports On Post Katrina Traffic
September 4: US Coast Guard reports that eighty-six ships are caught in the aftermath of Hurricane Katrina, awaiting transit to or through the Port of New Orleans. All bridges, floodgates, and locks in the New Orleans area remain closed.

A bit worse condition than some might suspect.

In the short term, yes. In the long term, no. Deep draft vessels do not use any of the aforementioned locks. The only bridges that affect deep draft vessels span the industrial canal - all the bridges that span the Mississippi River are suspension/cantilever and don't require opening. The ICW will definitely feel the pinch for awhile, but I'd bet that the problem with deep draft vessels is that the SW Pass pilots, the Crescent River pilots, and NOLA-Baton Rouge pilots are not on station. It will take time to get back to their respective stations and get traffic moving.

86 ships on backlog is nothing. Three days of fog or a collision at Head of passes will do the same thing.

Just got off the phone with my CG sources. The Mississippi River is fully open to up and downbound traffic, daylight only - which makes sense. I suspect many of the Aids to Navigation are out.
"Suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself." Mark Twain, a Biography
 
1MillionFlyer
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 5:34 am

Quoting Halls120 (Reply 27):
n the short term, yes. In the long term, no.

Exactly!

THANKS for the support
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ANCFlyer
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 5:50 am

Quoting 1MillionFlyer (Reply 30):
Exactly!

THANKS for the support

That was in reference, I believe, to Mississippi River/Port of New Orleans river traffic and capacity and condition . . . unrelated to our earlier conversation about the current conditions of the market and economy.

At least quote the man and/or the conversation in context . . .

Quoting Halls120 (Reply 27):
US Coast Guard Reports On Post Katrina Traffic
September 4: US Coast Guard reports that eighty-six ships are caught in the aftermath of Hurricane Katrina, awaiting transit to or through the Port of New Orleans. All bridges, floodgates, and locks in the New Orleans area remain closed.

A bit worse condition than some might suspect.

In the short term, yes. In the long term, no. Deep draft vessels do not use any of the aforementioned locks.



Quoting Halls120 (Reply 29):
Just got off the phone with my CG sources. The Mississippi River is fully open to up and downbound traffic, daylight only - which makes sense. I suspect many of the Aids to Navigation are out.

Which is excellent news of course . . .

I would agree, if we see continued high consumer prices we're being gouged. The question now is, if that is the case, what if anything will be done about it.
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1MillionFlyer
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 5:56 am

I was quoting the context correctly. All of these issues are inter-related.

If traffic is moving then there is momentum for the area to recover.

I used to buy millions of pounds of Plastics from Exxon in Houston and Atlanta to manufacture EvenFlo products that went to Wal-Mart, several times we sucked the entire polypropelene stock of the entire SE US dry for Wal-Mart, we had to turn to getting resins from other parts of the US and even from Sweden. The price difference was about 10-12 percent higher and we found ways to compensate for the price difference.

Short term this is painful, long term, the market will adjust.
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ANCFlyer
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 6:05 am

Quoting 1MillionFlyer (Reply 32):
Short term this is painful, long term, the market will adjust.

OK . . . where will consumer prices go.

If you're hypothesis is correct and the market adjusts, where will it stop as it relates to consumer prices.

There are several thousand tons of coffee beans wasting away in a warehouse in NOLA as we write. . . naturally I see asharp and immediate rise in the price of coffee. . .

Refined petroleum prices have already spiked, and I don't think they're stopping just yet.

Where will this stop, will the prices settle back down to pre-Katrina levels? Likely not I suspect. How much gouging are we going to feel on construction materials - demand will drive the prices for everything related to rebuilding parts of AL, MS and LA and that effect will be felt nationally - perhaps internationally.

It's my bet that even when the rivers and railroads get back to full operation, we will not see a reduction in consumer prices of any significance on a whole host of things from coffee to 2X4s. Once the market learns to bear the crunch, we'll be stuck with it.
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RE: Embarrassed About Requests For Money From Abroad?

Wed Sep 07, 2005 6:19 am

Quoting ANCFlyer (Reply 33):
It's my bet that even when the rivers and railroads get back to full operation, we will not see a reduction in consumer prices of any significance on a whole host of things from coffee to 2X4s.

Usually the supply chain eats a lot of increases and the consumer never sees it. This can impact inventory levels and Capital expenditures which can hurt the economy to some degree.


Maybe the Fed can quit raising rates for a while, or drop .25 point, but then we will have inflation rising.

It is a very fine balancing act, but it always equalizes to some degree.
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