Long read sorry guys.Hi wogboy PNA is a great company for sure,...

Long read sorry guys.

Hi wogboy PNA is a great company for sure, IMO hard to find one better run. It has many goodies in its growth pipeline. when Sentiment is good market wise PNA get on its bike better than most I have seen for a good while now. Market looks set to have an ok -good morning lets hope it pans out. remember I said happy gold prices mean happy copper prices most of the time :-) I still believe in my call gold to be $1,300 before year is out if not before.

But there's always a but with me.its cool it keeps me on my toes. As you may know, you would be hard pressed to find a big bull than me. We need to address this. No one wins in a falling market in the end, not even the shorts do. They may at first but even then the game becomes much much harder for them as well. The day will come when most of the world markets will stop taking the lead from the US. I know it gets talked about a lot that, that day is fast approaching but I got a strong feeling I'm properly not going to see it in my life time. pretty sure I'm older than you :-)

Regardless of what many think the US is still a HUGE power house in the financial world its a huge consumer and massive importer. I have a real concern about their recovery, ok take two, lets call it there real recovery. how can they have a real recovery when so many are not working, retail over there is struggling many say a huge amount, nothing concrete is really happening. The feds coming out and saying "we will do what ever it takes" whats does that mean, print more money?. you can print as much as you like, but at the end of the day, I assure you the butcher has to be paid. I see "at best" the market going side ways. Until something drastric( or real) happens over there. Take care all lets stay focused on whats real. and lets not forget most is not all of the big shot analysts never saw the GFC coming until we were well into it, then they all became experts. Not suggesting for 1 min we are going to have another GFC.

I recieved this in my email a few days ago, worth a read I think.

This guy Marc contributes his US small business perspective every couple of months on the Jim Sinclair website - supplier's prices to him have been rising for quite some time.
It's always important to get the small business perspective - inflation is happening but it may be camouflaged in a form of stagflation.
Nevertheless the Dow charges on regardless which is fine by me - and yup copper price doing good.


Jim Sinclairs Commentary

Here is a report from a real business man, CIGA Marc, not some dumbass Wall Street cheerleader.

Dear Jim,

Traditionally, summer is a slow time of the year at the hardware store with August being the slowest of the summer months. Preliminary numbers thru yesterday show sales off slightly less than 8% year over year. Were it not for the paint category which we have aggressively marketed this year I feel sales would be off nearly double the 8%. Generally lumber, building materials and mason supplies see some movement during the summer months and this year those sales are off upwards of 30% as large renovation projects and new construction stagnate.

A recent hardware show in Chicago for a large independent wholesaler of hardware experienced good sales but very light attendance. There are those in the industry who have the capability to take advantage of the deals and those who dont. Similar to other trends within our nation the "middle class" is harder and harder to find.

Recently I was alerted to the fact that drywall products (compounds, sheet rock) will again experience a price increase next month. I can assure you this is not demand related!

Paint manufacturers have increased prices over the summer months and we have also noticed increased prices of paint accessories such as roller handles, roller covers, drop cloths and related items. Many of these items are imported and have in some cases jumped dramatically in price over the past few months.

In general prices are definitely rising at the wholesale level. However the manufacturers and vendors are willing to offer deals to undercut each other which is allowing some flexibility at the retail level. With limited sales nobody wants to lose the sale. How long this can last before they are forced to charge the increased prices remains to be seen but with lackluster business its certainly not a sustainable strategy.

One of my favorite salesmen has a good answer when I ask him how business is. His response for nearly 2 years has been "spotty". I cant argue with his assessment one bit.

Best Regards,
CIGA Marc