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- Pacific Sunwear F3Q08 (Qtr End 11/1/08) Earnings Call Transcript
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CaptBob
198 Comments
Green Bio-Refining Up, Solar Stocks Down
Everything comes from the Sun--only thing we can do is accelerate the time frame.
Green Bio-Refining Up, Solar Stocks Down
The only yard waste that real farmers return to the soil is their own, and they don't have time for compost piles. That's for the little speciality "Organic" guys. If a mulching mower dosen't return leaves to the lawn they fell on, they're headed for the dump.
Now if municipal recycling trucks put all the leaves-& yard waste through a grinder, piled them and sold the product back to the homeowners to offset taxes---A-La Milorganite--That might make sense. It's too labor intensive for farmers who will continue their patronage of Monsanto.
Calling a Housing Bottom
Impediments are:
Inability -difficulty-to sell their-(buyers)-house to raise down payment
Banks have borrowed from the Fed at low interest, however since they are "Liguid"-(pl... of funds), they are not "Solvent" too many bad and reduced assement loans on the books that could show they do not meet their reserve limits. Therefore they are holding the funds to bolster their reserves.
The Inability of small banks to factor mortages up the line as before due to the above. This means they will "hold" the responsibility-(risk)-... and therefore are imposing strict limits which many buyers cannot meet.
Add to the above a built in Buyer reluctance to move, as he sees prices continuing to drop and more supply coming into the market. He has to really 'want' this house, at the 'bargain' price offered to be motivated.
Builders are finishing up projects already in the pipeline with money invested-(to cut their losses), but are reluctant to start new projects that are not pre-sold custom jobs.
When the Banks-(Big) reach a point of solvency=legitimate reserves, or go out of business.
The river of foreclousures dries up.
The existing market supply draws down.
The economic job market and wages insure legitimate buyers.
A measure of value/- equity returns to existing homes.
Trust returns to both mortgage brokers and assessors, and they re-attain a solid reputation.
Then one may say the criteria for a resumption in housing value has been met=bottom of the bubble, it's history.
As usual Graham an excellent article. Brings to light a vital segment of the housing industry.
Getting Frantic? A New 3 Act Play for Current Economic Times
Better off devoting your energies to your garden than the voting booth.
Bernanke Admits the Dollar Does Matter
Please hurry back to your printing press and crank out some more of "YOUR SOLUTION".
Well why not?. If Paulson can make the dollar rise on nothing but pure B.S. Someone must be buying this clap-trap!
Bernanke's Words
There will ample repeters to make sure we get the message!!
Bernanke Blames Saving Glut for Housing Bubble
It'll be awhile before they're back to our table looking for another package of our high interest bearing, AAA rated, CDO packages--heavy with big mortgage "Tranche" filling.
The mere fact that the banks-who gererated this garbage--knew they could factor it off with a slice of profit and no risk to themselves was what drove the housing bubble---MORE!!--MORE!... a sure thing!!.
There's a lot of people who should be in Jail!!
The Feds low interest rates and liquidity was mearly a "facilitator"... they were too --Dumb??--or filled with avarice not to care??
Is Speculation Driving Commodity Prices?
It's about seeing the truth of the dollars value and parking it in something with "real intrinsic" value under it, not "faith".
And while you're at it why not some leverage?, if you truly believe.
Oil Prices: Blame the Buyers AND the Sellers
Commodities: Inflation Leaves Investors Little Choice
Deep into the era of substitution we find AAA substituted for B or less in the credit/housing assessment game, Bonds etc.
Faith and goodwill substituting for real value in currency and Bonds.
P.T. Barnum running Govt. stats out to the suckers, substituting for the real thing of yesterday mearly to paint a better picture, and avoid entitlement payment raises.
Presidential candidates substituting "change" for fiscal responsibility, when their "Changes" involve printing still more Fiat currency!!--That's Change??!!.
SW, above has it right when he states the machinery to manipulate the masses as they become "Aware" are being put in place.
"Homeland Security" Will be substituted for Martial Law.
Gold is Money - And Nothing Else
The day may return--sooner than you think--when the local Doctor will gladly accept 2 chickens for an office visit.
Almost everything is "a medium of exchange" valued by supply and demand. And the supply of dollars being increasing as it is, only increases the demand for more dollars for the same chicken--it's a fiat inflation press they're running.
The only benefit in using dollars is they're easier to carry around.
Otherwise the "Barter system" excels. We'd rather trade my three fishing rods for your lawnmower than use dollars as they won't devalue on the way home. And neither party gets taxed along the way.
Commodities Speculation Symptom of Larger Problem
The holder of the futures contract seldom takes delivery but sell's it to someone who can "use" the commodity.
He who holds the contract gets to decide where it is delivered, not the exchange. If he has the tanks in his backyard in Brooklyn N.Y. and pays the freight--there it goes.
Who's Really to Blame for High Gas Prices?
If you've bothered to listen to your fellow citizen,- not your think alike friends, just joe next to you in a bar, -and not teach--listen.
You'll notice he's not too bright and has a terrible handle on economics and especially vis a vie our planets resources.
This outlook is reenforced by all his friends, who are, I can assure you not reading at this site but laying the blame on someone else.
Collectively they outnumber the informed about 25 to 1.
Now ask yourself in our fine Democracy, who our policymakers, running for election, pander to?? Better yet, just listen to them, and you'll know why we have corn ethanol, no wind turbines or neuclear plant building and are all marching down the "Yellow brick road" to consult the wizzard!
Now let's all follow our leaders advice and "drive" over to Wal-Mart to snap up some lead painted toys and poisen cat food from the guys that killed us with tainted Heperin.
Just put it on the Credit card--no equity left in the house--the stimulus bonus will pay before the 20% kicks in!.
Whos to blame?; Take a look in the mirror!.
Sell Gold in May and Go Away?
1. The dollar will strengthen?? Fewer dollars, higher interest, robust economic turnaround, less debt??? All doubtful.
2. Oil will depreciate?? The most likely reason for this is lower demand in the private transport sector caused by some Country's lowering subsidies, pricing down demands. Drilling and large finds not likely to exceed dwindling supplies. Our stocks are not being drawn down by $4 gas, where is the denial point?? Chinese and Indian demand is like that of gold, every price drop produces more physical buyers.
3. Higher production levels at the mines?? Recent history show this to be unlikely.
4. The trillions find a more attractive yield in a safer vehicle to switch into?? All of history says NO, and if they don't like real estate at these prices--I can't think of one!.
Scuse me: My crystal ball is clouding up, guess I'll take gold for the long ride.
Crude Oil Going Parabolic: The Good News and Bad News
Anything in a permanent decline will cost more, especially in a market where the value of the currency used to purchase it is in decline for the opposite reason >the quantity of $$'s is increasing!!<.
It's not just OPEC. Anyone in possession of a dwindling commodity is a fool to sell to other that the highest bidder. Christ may turn the water to wine but the Govt. will immediately step in and tax the wine, to the point of diminishing returns, simply because they can!.
Get used to the idea that you're in an auction!.
Those who can, commute by helicopter.
The tier below go by limousine.
Care to share a limo.?
I'll drive my car thank you.
Care to share a ride?
I'll take the train, thanks.
I find riding a bike healthy.
When walking, try to work close to home.
When we smarten up and actually develop and bring to market viable -(the key word)-alternatives, then the piano will start again and all the above will stand--march--and hope for a better-read affordable chair to occupy.
P.S. Except the helicopter occupant will always stay put and not even notice the piano.