thestatedtruth.com | November 30, 2011
Hmm…this is speculative in nature, but here’s an interesting question: Just how bad was the situation, if the global central banking cabal had to intervene all over again, and just what was not being told to the general public? Forbes may have one explanation: “It appears that a big European bank got close to failure […]
thestatedtruth.com | November 30, 2011
From PIMCO cofounder Mohamed El-Erian: The coordinated action “lowers the cost of emergency funding and increases the scope,” Central banks “are seeing something in the functioning of the banking system that worries them”. Six central banks led by the Federal Reserve made it cheaper for banks to borrow dollars in emergencies in a global effort to […]
thestatedtruth.com | November 26, 2011
The time to prepare for a disaster, is before the disaster happens. Capice? Britain’s Foreign Office Prepares For Riots In Europe British Embassies are being warned in Europe of dire consequences of an eventual Euro breakup. Analysts at UBS, an investment bank earlier this year warned that the most extreme consequences of a break-up include risks […]
thestatedtruth.com | November 23, 2011
We have NEVER seen the U.S. Fed set such a stringent set of criteria for the banks…we think there is a message here! Actually it’s a no brainier! Leverage is a killer near term. De leveraging and deflation is the immediate concern. The Federal Reserve released criteria yesterday for capital tests measuring the strength of the largest 31 […]
thestatedtruth.com | November 22, 2011
Art Cashin, from the floor of The New York Stock Exchange…. Unintended (And Unwelcome) Consequences – Rich Miller at Bloomberg caught our eye this morning with this rather disturbing note: Federal Reserve Chairman Ben S. Bernanke and fellow U.S. policy makers may find themselves hampered in restoring financial stability should the European debt crisis spread […]
thestatedtruth.com | November 20, 2011
We have a broken down world! Can two Lone Rangers rescue us? PIMCO’s Bill Gross laid out his pessimistic outlook, fretting that growth in developed countries could be weighed down for years by debt problems in Europe and high unemployment in the U.S. BlackRock’s Larry Fink said he sees “all the same problems, and the problems […]
thestatedtruth.com | November 7, 2011
The wealth gap between younger and older Americans has stretched to the widest on record. Households headed by someone under age 35 had their median net worth reduced by 27 percent in 2009 as a result of unsecured liabilities, mostly a combination of credit card debt and student loans. No other age group had anywhere […]
thestatedtruth.com | November 7, 2011
The entire consumer credit growth is from auto loans and student loans, while revolving credit dropped…Student loans have been a growth business, but at what expense? A whole student generation is hopelessly buried. Truly buried like no other generation ever! So… just where did this consumer credit in 2011 come from? Well, of the $32 billion in credit […]
thestatedtruth.com | November 3, 2011
Some sobering thoughts from Caroline Baum, author of “Just What I Said”. She is a Bloomberg News columnist (the opinions expressed are her own). Why is so much energy being directed, or misdirected, at housing? Wouldn’t those efforts be better spent charting a sound course for the overall economy rather than targeting a specific sector? For […]
thestatedtruth.com | October 31, 2011
MF Global goes Chapter 11……breaks into the top ten standings! Here we go…MF Global, the brokerage run by former Goldman Sachs chief Jon Corzine, today filed for bankruptcy protection, becoming the highest-profile U.S. victim (that we know, so far) of bad bets on European government debt. With the Chapter 11 filing, MF Global also is likely […]
thestatedtruth.com | October 23, 2011
We’ve all heard about what’s going on in Greece…but this bubble chart will help explain how other countries in Europe compare.
thestatedtruth.com | October 12, 2011
Warren Buffett’s son Howard speaks his mind…on class warfare, the disparity has never been greater. The wealthiest 1% of all Americans now own more than a third of all the wealth in the United States.The poorest 50% of all Americans collectively own just 2.5% of all the wealth in the United States. From Bloomberg: Howard Buffett, the […]
thestatedtruth.com | October 9, 2011
Dexia’s Belgian Bank To Be 100% Nationalized… They are talking Good Bank, Bad Bank….the good assets are put into a “good bank” that will operate going forward and is owned by the governments of France and Belgium, the bad bank assets (worthless?) will be in another bank to handle all of the troublesome crap…. “The governments of […]
thestatedtruth.com | October 3, 2011
We should say this is a horrific economic crisis that’s about to get (out of) hand…..Debt is a very cruel master. It will almost always bring more pain and suffering than you anticipated. It is easy to get into debt, but it is very difficult to get out of debt. In the end, we will see that the debt-fueled prosperity […]
thestatedtruth.com | October 1, 2011
It doesn’t sound like much to (all of a sudden) charge everyone $5 a month to use a bank debit card, but it’s the principle of the matter with the bankers becoming more hated by the day. To make things worse for this ill advised bankers decision, we have a tested model here…just look at Netflix, which instituted a […]
thestatedtruth.com | September 26, 2011
“Problem is, too many in Washington have less than half a brain.” Robert Reich Monday, September 26, 2011 Seems like only yesterday conservative nabobs of negativity predicted America’s ballooning budget deficit would generate soaring inflation and crippling costs of additional federal borrowing. Remember Standard & Poor’s downgrade of the United States? Recall the intense worry […]
thestatedtruth.com | September 25, 2011
And so it goes…Former U.S. Treasury Secretary Lawrence Summers “I’ve been to 20 years of IMF meetings, and there’s not been a prior meeting at which matters have had more gravity and at which I’ve been more concerned about the future of the global economy.” Billionaire investor George Soros said “something needs to be done” […]
thestatedtruth.com | September 17, 2011
So far the record low interest rates have only kicked the can down the road by allowing desperate debt to prolong its misery. History will likely show this to be a catastrophic economic mistake. In the process, we have destroyed the retirement class by forcing them into higher risk assets.
thestatedtruth.com | September 16, 2011
But these figures speak for themselves….we continue to expect negative numbers over the next few years, actually into 2014. Net worth for households and non-profit groups decreased by $149 billion, a 1 percent drop at an annual pace, to $58.5 trillion, the Federal Reserve said today in its flow of funds report from Washington. It rose at a 7.4 […]
thestatedtruth.com | September 15, 2011
The average rate for a 30-year fixed loan dropped to 4.09 percent in the week ended today from 4.12 percent, Freddie Mac said in a statement. That’s the lowest in the company’s records dating back to 1971. The average 15-year rate fell to 3.30 percent from 3.33 percent.
thestatedtruth.com | September 12, 2011
Bad seats…hey buddy! Epecially if you’re a baby boomer! We all need to plan well after reading this. From (CNSNews.com) …. There were only 1.75 full-time private-sector workers in the United States last year for each person receiving benefits from Social Security, according to data from the Bureau of Labor Statistics and the Social Security […]
thestatedtruth.com | September 8, 2011
But wait until you see why? Non-revolving debt, mostly comprised of educational loans along with loans for autos and mobile homes, rose by $15.4 billion in July, while revolving debt, which includes credit cards, fell by $3.4 billion. The rise in non-revolving loans was the most since November 2001. We’re going to totally bury (by educational loans) the future pole bearers of our […]
thestatedtruth.com | September 8, 2011
The U.S. Fed doesn’t get it, stimulus won’t work, they’re addressing the wrong things here….we have “structural issues and they require structural solutions.” Ei-Erian Pacific Investment Management Co.’s Mohamed El-Erian said the U.S. faces “serious” economic challenges, including lagging housing and labor markets, that will prove resistant to Federal Reserve stimulus efforts. “You simply can’t […]
thestatedtruth.com | September 2, 2011
The positive side of this…..should put more monthly income into the economic system. But…lenders’ capacity to handle loan applications could be an obstacle for the Obama administration, which is weighing options for spurring a housing recovery, including steps to promote refinancing for underwater borrowers, or those who owe more than their property is worth. Almost […]
thestatedtruth.com | August 31, 2011
The Fed is caught by its tail in a mouse trap. Charles Evans, president of the Chicago Federal Reserve Bank told CNBC television the labor market, with its 9.1 percent jobless rate, looks to be in a recession. (Reuters) – The central bank in early August discussed a range of unusual tools it could use to help […]
thestatedtruth.com | August 30, 2011
Bill Gross says everyone needs to get real…”We are into the “bumpy journey” phase of our New Normal where fear, lack of policy options and loss of control can dominate.” From PIMCO: New-Fangled Love Songs Liquidity concerns may affect all European peripheral bond markets unless the European Central Bank counters the rush for the exits with […]
thestatedtruth.com | August 28, 2011
The forth quarter GDP (Gross Domestic Product) may bounce because of Hurricane Irene damage repairs, but it will likely just be temporary in the bigger picture of things. Rich Yamarone (Bloomberg’s Chief Economist) points out that when GDP year-over-year drops by more than 2%, we have always had a recession. So with Friday’s second-quarter revision (first […]
thestatedtruth.com | August 25, 2011
Beware, the ides of October……“I think we are heading for a market shock in September or October that will match anything we have ever seen before,” said a senior credit banker at a major European bank. A more severe crash than the one triggered by the collapse of Lehman Brothers could be on the way, […]
thestatedtruth.com | August 17, 2011
Records are made to be broken. The time for this record to be broken is near. Buyer beware! The week ending August 10 saw a near-record amount of redemption’s from domestic equity mutual funds, amounting to an unprecedented $23.5 billion. This brings the total for August to $34 billion. Another $13 billion in outflows and […]
thestatedtruth.com | August 9, 2011
California was counting on collecting increasing tax revenue, even though almost every tax generating category in the state is slowing. Rest assured that these political morons never passed basic math 101. California just announced that state tax revenue fell in July, more than 10% below expectations. The LA Times blog says this will, “make it more likely that deeper cuts […]
thestatedtruth.com | August 6, 2011
More specifically it looks like Italy is next up and Spain is in the hole when it comes to new insolvent disasters! Global leaders call for an urgent emergency summit of finance ministers. Is it dominoes we hear falling? Referencing Spiegel: Concerning the EFSF (European Financial Stability Facility) German Govt: Italy Too Big For EFSF To Save German […]
thestatedtruth.com | August 5, 2011
Bye bye U.S. AAA debt rating. The new normal just changed for the worse. For the most part, everyone thought things were already bad and “had” to get better! Oh well, live and learn. Next week could be a dozy! We have some tough years ahead of us between 2012 and 2014. But before that, a stock market […]
thestatedtruth.com | August 5, 2011
Could the unthinkable happen? Here’s Peter Barnes of the Fox Business Network. Peter Barnes: “Is there a risk that the United States could lose its AAA credit rating? Yes or no?” Geithner’s response: “No risk of that.” “No risk?” Barnes asked. “No risk,” Geithner said. www.zerohedge.com
thestatedtruth.com | August 5, 2011
The background indicates that this isn’t good news….here’s why. Both Visa and Mastercard have seen credit card use increase, but they have explained that the consumer seems to be tapped out and resorting to credit cards as a source of funds. This would make sense considering how tough the economy is currently. The most interesting aspect […]
thestatedtruth.com | July 20, 2011
It’s the new normal, and it’s going to be here a while….. NAR: With job creation below expectations, excessively tight loan standards are keeping many buyers from completing deals….And proposals being considered in Washington could effectively put more restrictions on lending. An unprecedented 16% cancelled contracts in June. According to the NAR, June existing home sales […]
thestatedtruth.com | July 19, 2011
Unlike back in the day when everything was East vs. West….the Soviets and China vs NATO and the United States, we are now interconnected to everywhere and everything. There used to be an old saying, “One man’s pain is another man’s gain”, but now one man’s pain very well may end up being pain for all men (and […]
thestatedtruth.com | July 18, 2011
Steve Wynn is very wealthy and very smart. When he talks, people tend to pay attention….no pun intended! During the Wynn corporate earnings call, Steve Wynn gave without doubt the most blistering and scathing critique of the Obama administration by anybody yet, and he’s a Democrat. From the call transcript: I believe in Las Vegas, I think its best […]
thestatedtruth.com | July 3, 2011
Charlie Munger, billionaire Warren Buffett’s vice chairman of Berkshire Hathaway, imparts his  wisdom at the final Wesco annual shareholders meeting in Pasadena, California. Berkshire now owns Wesco. In business and in personal affairs, be patient but aggressive when you know what you want, Munger advised. He also stressed the importance of continuous learning. His current field of study: Astrophysics. […]
thestatedtruth.com | June 29, 2011
                                    Manganese Brass Dollar Coins                                                  Picture from Wikipedia As these bronze looking Manganese brass dollar coins enter circulation, they soon start looking greenish and of course, ugly.  So the question is… why would anyone want them in one or more pockets? In the basement of a Baltimore vault the size of a soccer field, 1 billion dollar coins are […]
thestatedtruth.com | June 28, 2011
Interest rates are at record 100 year lows, but even so, the world is sporting an unusually slow learning curve! Logically speaking, if interest rates were to climb,  it would be “lights out, game over” and the mother of all depressions. Something to think about since no one else seems to be interested. BIS is warning of higher rates […]
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