by Dr. Jerome, TF Metals Report:
Given the overnight action in metals, perhaps discussing the big picture my be more interesting today.
I bought a house some years back that had an old curved roof barn. The architecture was amazing to behold to a wannabe carpenter like me, with curved roof beams, large oak support beams for the floor. It was probably built in the 1920s. It was dug into the side of a hill with the south side of the foundation exposed so you could walk into the lower level, the north side dug in so you could drive your tractor into the large sliding doors to store your hay. But there was a problem. That hill was saturated with water flowing underground out of hundreds of uphill acres north of the barn. The builders did not install a drainage tile. At some point, the water pressure from the north cracked the 8″ thick concrete foundation wall horizontally along its 100 foot length about three feet above the lower level floor. The prior owner had re-supported the floor with vertical beams, but water seeped out continually reminding me of the problem. A contractor gave me a bid of 40K to fix it. We ended up selling the place. We have owned other homes in the American mid-west with cracking foundations and water issues in the basements. It seems to be a hazard of the region. Sump pumps are wonderful for managing the water, but they don’t fix the foundation.
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