Fluor (FLR) and Perini (PCR) are in the same sector - infrastructure. That's about all they have in common. I have owned both at one time or the other, but clearly owning Perini (PCR) was a mistake. My thesis with infrastucture is to focus on the customer base - oil rich Arabs, trade rich Chinese, and essentially bankrupt (federal) US government with unending pocketbook (read: your taxes) who runs deficits to their hearts content. That was my error with Perini - unfortunately their customer base is heavily focused on non federal government Americans (although they are trying to change that) i.e. local governments, US customers who need credit lines - casinos for example [Jan 17: Perini Shows Collateral Damage of Tightening Credit + Slowing Economy]Construction company Perini Corp (PCR) said Deutsche Bank on Wednesday delivered a notice of loan default to the ...

Here's what I'm reading this morning. You might find these stories and blogs interesting, too.Economics as science? No chance.Economics is not a science. Physics wouldn't be a science either if esteemed members of that profession who got prestigious jobs running the country were willing to make statements that contradict all known facts.Commodity Futures SpeculationFundamentals are the most important part of the 5-year story, but that the falling dollar, negative real interest rates, and quite possibly fund purchases of commodity futures contracts have also made an important contribution during 2008.The Economics of SawdustI was in Vermont over the weekend and talking to a dairy farmer about the rising price of milk. I was surprised when she said that higher sawdust prices was one of the causes.xx Sean's note -- everything is interconnected, and in our modern society, even more so. I'm always wondering what shoe missing a nail is going to drop next. Speaking ...