Kitco News: Obama Has Another Reason to Camp Out in Iran
EARLY APRIL INDICATORS POINT TO WEAK ECONOMY
Wednesday April 1, 2015 10:00 AM
The U.S. manufacturing sector barely remained in expansion territory in March as the sector has been steadily losing momentum since the start of the year, according to the latest data from the Institute for Supply Management (ISM).
Wednesday, the ISM said its Purchasing Managers Index showed a reading of 51.2% in March, down from February’s reading of 52.9%. According to consensus reports, economists expected to see a relatively small decline to 52.5%.
What WAS POSITIVE.. Now seems NEGATIVE
This report points to continuing challenges for the Administration and includes the West Coast port issue, lower oil prices having both positive and negative impacts depending upon the industry, residual effects of the harsh winter, higher costs of healthcare premiums, and challenges associated with the stronger dollar on international business."
JOBS DATA REMAINS WEAK as PRICES RISE
Jobs in the manufacturing sector dropped last month as the ISM’s (Institute for Supply Management) employment index showed a reading of 50%, down 1.4 percentage points from February’s reading of 51.4%. The data also showed that price pressures are on the rise as the prices index rose to 39%, up 4 percentage points above February’s reading of 35%, “indicating lower raw materials prices for the fifth consecutive month.”
BROAD BASED ECONOMIC RETREAT
The manufacturing sector has struggled to maintain the pace set last year. Recent regional data has been weaker than expected. Tuesday, the Chicago Purchasing Managers Index, rose to 46.3, remaining in contraction territory. Earlier in the month, the New York Fed said that its Empire State manufacturing survey fell to a reading of 5.6, down from February’s level of 7.8. The Philly Fed said its manufacturing business outlook survey fell to 5.0 from 5.2 in February.
Financial side of the story is clear; dividend cut would be natural here. The obstacle comes from management; they are stubborn. How long can they continue being stubborn? Who knows. It can continue long enough; this company has cash. It may happen that people, waiting on sidelines, see the situation, eventually, when dividend is cancelled, finally, but company cash got depleted to the point when risk is too high.
Good question. Probably would need silver to rise for PAAS to make money. Wishing I never bought this stock; it is killing me. But who could of for seen such a huge drop in silver prices?
I don't see anyone talking about it here- they're losing money- good cash on hand but they are producing silver at a loss. I have no position as yet (have been long in the past)- will consider taking one once they suspend the dividend- too much risk until then as I expect many shareholders are in this in large part for the divy. Does anyone have any good reason to believe this dividend is sustainable??
We know today that 100,000 shares dumped on the market will drop this stock 30 cents. I find this interesting.. but not important.
They never buy her a drink when she's fallen off the bar stool.. but the town pump gets all she wants when they're all chasing after her. More buyers at $20 than at $10.. Why is that?
you are a strong believer in AAS because you are one.
You just keep showing everyone your losses and then go onto NYNY and tell everyone you are making money.
I am a strong believer in PAAS. Got in at a much higher level; did some dollar cost averaging on the way down. Long term I am very bullish on gold and silver.
Good stuff DCP. I am right with you on debt and it being the drag on global economy. The dollar MAY be losing steam since it's strength/rise has been steep and quick. Also good point on gold not breaking support even with $ so strong and most commodities (read oil) have been absolutely hammered.
I don't know when things turn, but anyone with our outlook must be able to stay long, as shakeouts must be withstood or you can be right, be forced to sell and then lose now and be in pain later when you don't participate.
One thing I have noticed in the last 5 years is that many things correct very quickly, but others defy logic for years. DIVERGENCE. It will coil the spring and make the pop big when we are right.
Hard assets will rule.
Ted, I've never bought Pan American silver stock believing it was company with small possibilities.. Being myopic has a lot of speculators in love with the idea of precious metals, running to smaller producers that are momentum players. I am not one of these. You must truly believe in global government and their desire to control and destroy your wealth. If you don't, you really need to understand what it is that is happening.
Spoken like a two-time Obama voter! Free Lunch crowd is still looking for their 'free stuff'. I'll take the silver and gold..»Auro loquente omnis oratio inanis est.« - »When gold speaks, the world grows silent.«