Harvey Organ, Thursday, April 28, 2011

GDP growth stalls at 1.8%/jobless numbers rise/silver and gold prices steady

posted by Harvey Organ at Harvey Organ's - The Daily Gold and Silver Report - 24 minutes ago

Good evening Ladies and Gentlemen: The data for the next few days will be extremely important and I will bring them to you as I receive them. Before beginning, Adrian Douglas of GATA and Market Force Analy...

CMEGroup hiking Silver margins for the second time in a week

posted by Trader Dan at Trader Dan's Market Views - 1 hour ago

The CMEGroup announced that as of the close of trading this Friday, margin requirements are yet again going up in silver. For speculators, initial margin is increased to $14,513 per full sized silver con...

 

 

McDonalds Hires 62,000, Turns Away Over 938,000 Applicants For Minimum Wage, Part-Time Jobs

Submitted by Tyler Durden on 04/28/2011 16:39 -0400

This is what the US economy has been reduced to: McDonalds reports that as part of its employment event to hire 50,000 minimum wage, part-time (mostly) workers, subsequently raised to 62,000 it received a whopping 1 million applications, or a Tim Geithner jealousy inducing 6.2% hit rate (h/t X. Kurt. Osis). Alas, the US economy is now so pathetic that the bulk of the population will settle for anything. Literally anything. And the saddest part: over 938,000 applicants were turned away. Here's hoping to Burger King needs a few million janitors in the immediate future too. And yes, aside from reality, things in America are really recovering quite nicely.

RIMM Halts Stock, Cuts Guidance, Cites Shortfall In Blackberry Sales, Hockeysticks Rest Of Year Estimates

Submitted by Tyler Durden on 04/28/2011 16:14 -0400

Not good for long-suffering RIMM shareholders: "RIM now expects fully diluted earnings per share for Q1 to be in the range of $1.30-$1.37, lower than the range of $1.47-$1.55 previously forecasted by RIM on March 24, 2011. This shortfall is primarily due to shipment volumes of BlackBerry smartphones that are now expected to be at the lower end of the range of 13.5-14.5 million forecasted in March and a shift in the expected mix of devices shipped towards handsets with lower average selling prices. Gross margin for the first quarter is expected to be similar to the 41.5% previously guided. This mix shift is also expected to result in revenue that is slightly below the range of $5.2-5.6 billion guided on March 24. Expected shipments of BlackBerry PlayBook in the quarter continue to be in line with our previous expectations and we have not experienced any significant supply disruptions in Q1 due to the impact of the Japan earthquake."

The Animated Federal Reserve For Dummies (Literally)

Submitted by Tyler Durden on 04/28/2011 17:47 -0400

From the bears who explained Quantitative Easing, we now get a crash test dummy simplifying the Federal Reserve's current outlook on life, the universe and everything, courtesy of yesterday's press conference. All confusion abandon ye who enter. 

 

 

 

 

America's Economy Explained In One Picture

Submitted by Tyler Durden on 04/28/2011 17:04 -0400

One animated gif is worth a thousand FOMC press conferences

Reality Check - How Much is that Priced in Euros?

Posted by: ilene

Post date: 04/28/2011 - 16:02

We are right on track for the next American revolution but it's a slow train so grab those fish while you can, my friends - you may need them to barter with down the road!

Jim’s Mailbox

Posted: Apr 28 2011     By: Jim Sinclair      Post Edited: April 28, 2011 at 5:10 pm
Filed under: Jim's Mailbox
Wal-Mart: Our shoppers are ‘running out of money’ 

CIGA Eric

Welcome to the liquidity-driven, debt-laden economic recovery. The demographic of workforce/population reads as follows: (1) the select few prosper, (2) a lot simply try to hang in as long as possible, and (3) the vast majority are squeezed to the bone by the consequences of policies enacted to combat the largest debt crisis in recorded history.
Wal-Mart’s core shoppers are running out of money much faster than a year ago due to rising gasoline prices, and the retail giant is worried, CEO Mike Duke said Wednesday.
"We’re seeing core consumers under a lot of pressure," Duke said at an event in New York. "There’s no doubt that rising fuel prices are having an impact."
Wal-Mart shoppers, many of whom live paycheck to paycheck, typically shop in bulk at the beginning of the month when their paychecks come in.
Source: money.cnn.com
More…

IWM After Hours Flash Smash

Submitted by Tyler Durden on 04/28/2011 17:16 -0400

One wonders just what algo told the IWM to not only lift every offer but to do so for a whopping 10% higher than the overall market. Because if you like this market about 50% overpriced, you will love it at 60%. Or was this just Brian Sack telegraphing what the endgoal for the Russell 2000 is before QE2 ends? In other news does anyone even recall what a capital market is like without at least one Chinese fraud being exposed, or at least one synthetic CDO, read ETF, doing some Circque De Soleil acrobatics? We can't wait to hear what the exchanges will use as an excuse for this inverse flash crash.