thestatedtruth.com | September 4, 2010
A must listen to interview with Jim Rickards about our economy and more. We all need to be aware of the direction of things to come. This interview from Jim Rickards will help in understanding these things better. Click on the following link or paste into your browser: http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/9/4_Jim_Rickards.html Biography of James G. Rickards…..James G. Rickards is [...]
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Tags: Economy, everybody should listen to this, jim rickards, must listen too, new york stock exchange, stockmarket, wall st, Wall Street
thestatedtruth.com | September 3, 2010
Very interesting, but also a worst nightmare for tax payers……….Under Pennsylvania law, Ambac Assurance (which insures some of Harrisburg’s debt) can take Harrisburg to court to seek an order to raise property taxes to pay debt. This is the nature of “full faith and credit” of general-obligation bonds. So the tax payers are stuck for the [...]
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thestatedtruth.com | September 3, 2010
Bond Vs. Stocks…..Pension Allocations. Looks like bonds are priced to perfection here, so if re allocations take place in the next year like this report says, then the results may not be pretty. If interest rates have any kind of a kick to the upside a broad under performance could be setting up for retirement accounts. Hmmm, isn’t [...]
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thestatedtruth.com | September 3, 2010
This from Art Cashin on the floor of The New York Stock Exchange On this day in 1666, a massive fire broke out in the city of London, England. It began in a bakery on Pudding Lane, which was on the East End (between London Bridge and the Tower). The fire raged into the shop [...]
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thestatedtruth.com | September 2, 2010
The Black Swan Theory or “Theory of Black Swan Events” was developed by Nassim Nicholas Taleb to explain 1) the disproportionate role of high-impact, hard to predict, and rare events that are beyond the realm of normal expectations in history, science, finance and technology, 2) the non-computability of the probability of the consequential rare events [...]
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Tags: black fawn, black swan, outlier, outlier event, tail, tail event
thestatedtruth.com | September 2, 2010
Consumers are eschewing fixed-line alternatives for their cell phones, opting to keep connected to a single number whether they’re at home or in the car. www.dailyreckoning.com
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Tags: cell phone, cell phone growth, cell phones
thestatedtruth.com | September 2, 2010
Key message here is….. for liquidity ratios, equity fund portfolio managers are at an all-time record low of 3.4%, down from 3.8% in June. Tack on the fact that there are less shorts to be covered – being that the market peaked in April, and short interest is now 4.3% of the S&P 500 market cap (in August 2008 it [...]
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thestatedtruth.com | September 2, 2010
Key words here are…..”public debt had served for decades as the ultimate shock absorber — rising in bad times but not declining much in good times.” Now things have to change as the wealthiest nations face years of belt-tightening. International Monetary Fund Warns G7 on Debt Thursday, 2 Sep 2010 By: Sewell Chan The world’s most [...]
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thestatedtruth.com | September 2, 2010
Crisis mode? Hmm…..their words not ours! ECB Keeps Key Interest Rate at 1%, May Maintain Crisis Mode By Christian Vits Sep 2, 2010 The European Central Bank kept interest rates at a record low today and President Jean-Claude Trichet may signal the bank will stay in crisis mode into next year. The ECB’s Governing Council [...]
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thestatedtruth.com | August 31, 2010
August 30, 2010 Record low temperatures for the day were set Monday in Long Beach and Santa Barbara amid cooler weather that has settled over Southern California, forecasters said. Long Beach recorded 58 degrees, breaking by one degree a record set in 1989, the National Weather Service said. Santa Barbara bottomed out at 48 degrees, [...]
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thestatedtruth.com | August 31, 2010
Rethinking American Options on Iran August 31, 2010 | 0856 GMT By George Friedman Public discussion of potential attacks on Iran’s nuclear development sites is surging again. This has happened before. On several occasions, leaks about potential airstrikes have created an atmosphere of impending war. These leaks normally coincided with diplomatic initiatives and were [...]
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thestatedtruth.com | August 30, 2010
Another fraudulent entity, this time it’s a state……The state of New Jersey’s most recent report said that as of June 2009, its pension funds should have assets of $112 billion to meet their future obligations, but have only $66 billion now — This is one of the largest shortfalls of its kind, and is known as an unfunded liability! The state [...]
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thestatedtruth.com | August 30, 2010
The Emperor, The Gladiator & The Lion August 30, 2010 The last surviving gladiator stood alone in the Coliseum as the crowd shouted approval of his victories. The emperor called for a lion. In bounded a fierce beast that loped to the gladiator. As it was about to pounce on him, the gladiator whispered [...]
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thestatedtruth.com | August 29, 2010
Interesting to say the least….rare earth elemnts are used in almost everything that is high tech……. Bloomberg reports that China is cutting back 72% of its exports of Rare Earth metals. China has said that environmental issues are the reason for the cutbacks. 72% drop in availability of any commodity is important. RE’s are important. Japan [...]
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thestatedtruth.com | August 29, 2010
Some food for thought from George Friedman, CEO of STRATFOR, who believes China “will have a collapse” in the coming decade due to internal striff, an export based economy, and low internal rates of return, It will set America up as the primary beneficiary in a new Golden Era. Mr. Friedman’s views are controversial but well worth listening [...]
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thestatedtruth.com | August 29, 2010
Last week, the Liscio Report posted an interesting comment on their blog, Where we are?: Here’s an updated guide to “where we are”—how the U.S. economy is faring relative to the average of previous financial crises around the world. Though individual details vary, we’re following the script pretty well. In the graphs of four major [...]
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thestatedtruth.com | August 29, 2010
By Todd Harrison of Minyanville Seeking Solutions In An Uncertain World We used to play for silver, now we play for life; ones for sport and one’s for blood at the point of a knife. –Grateful Dead We live in interesting times. During the last two years, a financial virus spawned and infected the economic [...]
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thestatedtruth.com | August 27, 2010
Here is a summary of parts of a Wall Street Journal article by California Governor Arnold Schwartzenegger on government pensions and employee benefit compensation. Roughly 80 cents of every government dollar in California goes to employee compensation and benefits. Spending on California’s state employees over the past decade rose at nearly three times the rate our [...]
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thestatedtruth.com | August 27, 2010
By Brian Pretti on Fri, 27 Aug 2010 The most important information in the Treasury International Capital flow stats concerns equities. Have a look at the chart below. To the point, the top clip of the chart is the twelve month moving average of foreign purchases of US equities. Clearly there is cyclical rhythm here. [...]
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thestatedtruth.com | August 24, 2010
Beijing has a 62-mile traffic jam near the Chinese capital that could last until mid-September. It has become a symbol of the dark side of China’s automobile age. Officials say traffic has been snarled along the outskirts of Beijing stretching toward the border of Inner Mongolia since roadwork on the Beijing-Tibet Highway started Aug. 13. The jam [...]
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thestatedtruth.com | August 23, 2010
By Todd Harrison of Minyanville Seeking Solutions In An Uncertain World We used to play for silver, now we play for life; ones for sport and one’s for blood at the point of a knife. –Grateful Dead We live in interesting times. During the last two years, a financial virus spawned and infected the economic [...]
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thestatedtruth.com | August 20, 2010
Quoted from Art Cashin on the floor of The New York Stock Exchange Yesterday, there was a bit of floor buzz on a Bloomberg TV item. The story was that when the President headed off to vacation, he assigned two top defense aides to follow him. That raised some discussion about whether an Israeli move [...]
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thestatedtruth.com | August 20, 2010
We’re sure that everyone has the best intentions to pay these hardship loans back, but……. A new study by Fidelity says record number of workers tapped their retirement funds and made hardship withdrawals from their accounts in the second quarter. According to the Fidelity study, “Among the 11 million workers whose 401(k) plans are run by Fidelity, [...]
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thestatedtruth.com | August 19, 2010
Congressional Budget Office director Doug Elmendorf who said that in reality the budget deficit could come in much higher than the just disclosed estimates, and the recent economic data releases have been “more negative” than data factored into the projection. Which, in government talk, means that the real deficit will likely come at least 20-30% higher, [...]
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thestatedtruth.com | August 19, 2010
U.S. commercia real estate mall prices fall almost 11% in second quarter. Question……To whom would one sell commercial property to if forced in this environment? The red ink is going to be massive. The plunge is on. Let’s hope the powers to be never require this stuff to be marked to market by the small banks or pension funds [...]
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thestatedtruth.com | August 19, 2010
A scary setup……Greece is just the beginning, not an end, we have started a spiral. The dominoes are now falling one by one. Life will get a lot harder for the entire world including here in the U.S (we haven’t even got to the austerity part here), we’re now entering the twilight zone. The solutions are [...]
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thestatedtruth.com | August 18, 2010
This chart from Deutsche Bank, which appeared in U.S. Global’s weekly Investor Alert, shows the progression of China’s crude oil imports going back to 2002. As you can see, the trend—represented by the red annual average lines—shows that China is importing three times more crude than eight years ago to support its economic growth. [...]
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thestatedtruth.com | August 17, 2010
From Zerohedge.com 08/17/2010 The one must watch interview of the week (if not of the year) features Hayman Capital’s Kyle Bass. Bass, who correctly called the subprime implosion (and profited handsomely from it) as a iconoclast contrarian to conventional wisdom, tells David Faber that “given my outlook on the world, I don’t know how I [...]
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thestatedtruth.com | August 16, 2010
The ECRI index is an important leading indicator. It has now fallen for 10 straight weeks. There are three insurmountable problems in the US economy that are of a magnitude and gravity which can only be remedied by money printing: Federal and state deficits will soon escalate at an exponential rate. The US Federal debt [...]
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thestatedtruth.com | August 15, 2010
A major class struggle lies dead ahead! The gap between the super-rich, the wealthy and “the rest of us” has widened, forming what is in essence two Americas. Economists Emmanuel Saez and Thomas Piketty have reported that the top 10% of earners took home about half of all income. According to Moody’s Analytics research, the top 5% [...]
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thestatedtruth.com | August 15, 2010
The FHA is almost broke, is government supported and they back 30% of all loans outstanding….To make matters more interesting, in its 76-year history, the FHA has never required a credit score from borrowers. (No wonder they’re broke). At a 580 credit score and above, borrowers would be eligible for a 3.5% down payment (still ridiculous). It is well below scores [...]
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thestatedtruth.com | August 13, 2010
Alabama is suing BP Plc and Transocean for damages sustained from the Gulf of Mexico oil spill, the state’s attorney general said on Friday. “We are making this claim because we believe that BP has inflicted catastrophic harm on the state,” attorney general Troy King told Reuters. “We are suing them for the amount it [...]
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thestatedtruth.com | August 13, 2010
Rosenberg Starts Off In Style: “If you don’t believe there’s going to be a double dip, it’s because the first recession never ended. If there is going to be a double dip, the odds are certainly higher than 50-50.”
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thestatedtruth.com | August 13, 2010
08-13-2010 Bloomberg: “Manhattan Luxury Condos Try FHA Backing in Sales `Game Changer‘” in which “The Federal Housing Administration agreed in March to insure mortgages for apartments at the 98-unit Gramercy Park development, known as Tempo. That enables buyers to make a down payment of as little as 3.5 percent in a building where apartments [...]
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thestatedtruth.com | August 12, 2010
We’re looking at what will likely be a multi year process of cleansing. Debts will have to be paid down, leverage decreased and ultimatly spending will have to be cut too! That will make things even worse. Asset values will continue to fall. At some point in the future the system will complete its debt recycling and [...]
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thestatedtruth.com | August 12, 2010
14′th Sequential Week Of Equity Outflows We have now had over one quarter of non-stop redemptions by mutual funds, which means, by end-retail investors. The problem is that now everyone is starting to notice that the market is not supported by anything except momentum manipulation and primary dealer machinations. Per ICI, the week ended August [...]
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thestatedtruth.com | August 12, 2010
Jim Sinclair’s Commentary This is simply not going away. There is no practical means by which it can be drained ever! It is growing in a way that is unsustainable by any measure. Rather than being contained we are on the threshold of another round of unprecedented paper money creation. The reason it is happening [...]
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thestatedtruth.com | August 10, 2010
Drought, Fire and Grain in Russia August 10, 2010 By Lauren Goodrich Three interlocking crises are striking Russia simultaneously: the highest recorded temperatures Russia has seen in 130 years of recordkeeping; the most widespread drought in more than three decades; and massive wildfires that have stretched across seven regions, including Moscow. The crises threaten the [...]
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thestatedtruth.com | August 9, 2010
Everyone should watch this Video…..Forget your politics, listen to the Words http://www.youtube.com/watch_popup?v=qtjfMjjce2Y
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thestatedtruth.com | August 9, 2010
Gene Inger’s Daily Briefing . . . for Tuesday August 10, 2010: Good evening; ‘A recessionary relapse’ ……. .is the biggest unreported forecast story of the day. Not by us (though we unfortunately concur but see real risk sooner), but rather from none other than the San Francisco Federal Reserve. I read the key [...]
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thestatedtruth.com | August 8, 2010
Can we believe them! British Petroleum announced that a test on the cementing operation needed to plug its well in the Gulf of Mexico was successful.
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thestatedtruth.com | August 8, 2010
A chunk of ice four times the size of Manhattan has calved from Greenland’s Petermann Glacier, scientists announced on Friday. The last time the Arctic lost such a large chunk of ice was in 1962. Petermann Glacier, the parent of the new ice island, is one of the two largest remaining glaciers in Greenland that [...]
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thestatedtruth.com | August 6, 2010
Bill Gross calls it the new normal, where the consumer becomes a saver. He says artificial consuming i.e. borrow and spend is gone for a long time. Americans cut credit-card use for the 21st straight month in June as static job growth and a slowing economy turned spenders into savers. The national saving rate, meanwhile, rose, to 6.4%, [...]
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thestatedtruth.com | August 6, 2010
Pacific Investment Management Co.’s Bill Gross said the Federal Reserve is unlikely to raise interest rates for two to three years as it seeks to keep the economy from slipping back into recession. Treasury two-year note yields dropped below 0.50 percent for the first time today after the Labor Department said the economy lost more [...]
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thestatedtruth.com | August 5, 2010
Hmm…….There really are free lunches! Boston.com says it all: “The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday. Recipients of Supplemental Nutrition Assistance Program subsidies for food purchases jumped 19 percent from a year earlier [...]
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thestatedtruth.com | August 5, 2010
These two companies Fannie Mae and Freddie Mac could very well lose money forever! At some point the government has to just say enough of this and either shut both of them down, or require higher down payments on home purchases to protect their assets. Simple as that! By Lorraine Woellert Thursday August 05, 2010 Fannie Mae, [...]
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thestatedtruth.com | August 5, 2010
Thu Aug 5, 2010 * Postal Service concerned with future liquidity * Says regulatory changes necessary for fiscal stability By Jasmin Melvin WASHINGTON, Aug 5 (Reuters) – The U.S. Postal Service reported a quarterly net loss of $3.5 billion on Thursday and said it will likely have a cash shortfall going into 2011. The [...]
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thestatedtruth.com | August 4, 2010
By LOLITA C. BALDOR Associated Press Writer= WASHINGTON (AP) — Computer hackers have begun targeting power plants and other critical operations around the world in bold new efforts to seize control of them, setting off a scramble to shore up aging, vulnerable systems. Cyber criminals have long tried, at times successfully, to break into vital [...]
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thestatedtruth.com | August 4, 2010
Well plugged…..Let’s hope so. ON THE GULF OF MEXICO — In a significant step toward stopping the worst offshore oil spill in U.S. history, BP said Wednesday mud that was forced down its blown-out well was holding back the flow of crude in the Gulf of Mexico and it was in a “static condition.” There is [...]
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thestatedtruth.com | August 4, 2010
General Motors Co. and Ford Motor Co. reported U.S. sales in July that trailed analysts’ estimates as consumers concerned about the economy limited large purchases. Toyota Motor Corp. and Nissan Motor Co. topped expectations. GM’s sales rose 1.5 percent, including an adjustment for the number of selling days in July. On that basis, the largest [...]
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thestatedtruth.com | August 4, 2010
By Bloomberg News – // Aug 4, 2010 China’s banking regulator told lenders last month to conduct a new round of stress tests to gauge the impact of residential property prices falling as much as 60 percent in the hardest-hit markets, a person with knowledge of the matter said. Banks were instructed to include worst-case [...]
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thestatedtruth.com | August 3, 2010
Earth is bracing for a cosmic tsunami Tuesday night as tons of plasma from a massive solar flare head directly toward the planet. The Sun’s surface erupted early Sunday morning, shooting a wall of ionized atoms directly at Earth, scientists say. It is expected to create a geomagnetic storm and a spectacular light show — [...]
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thestatedtruth.com | August 2, 2010
Hulu is a website offering commercial-supported streaming video of TV shows and movies from NBC, Fox, ABC, and many other networks and studios. Hulu videos are currently offered only to users in the United States In order to ensure that no international users outside the U.S. have access to the videos, Hulu blocks many anonymous [...]
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thestatedtruth.com | July 31, 2010
The economy of the U.S. grew at a weaker than expected 2.4% in the second quarter, but the first quarter was revised back up to 3.7% on the strength of stronger-than-projected inventory rebuilding. But the recession years were revised downward rather significantly for this late in the cycle. We find now that the recession was [...]
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thestatedtruth.com | July 30, 2010
Posted Friday July 30, 2010 By: David A. Patten Former GOP House Speaker Newt Gingrich warned Thursday that President Obama and congressional Democrats appear to be on the verge of repeating the same mistakes that aggravated the Great Depression, adding that letting the Bush tax cuts expire would prove “very dangerous” for the nation’s economy. Speaking [...]
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thestatedtruth.com | July 30, 2010
Hint……this is not a pretty picture! Posted from zerohedge.com Exerts from a Goldman review are shown below. The chart below provides an integrated look at the GDP growth impact of fiscal policy at the federal, state, and local level. These numbers are based on our current assumptions that (1) Congress will not extend emergency unemployment benefits beyond the [...]
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thestatedtruth.com | July 29, 2010
Broken Financial Generations – U.S. households only have a median of $2,000 saved in retirement accounts. The median net worth for those 25 to 34 is $3,700. Which generation will support the economy going forward? Social Security beneficiaries make up 19 percent of all Americans. This is setting up a big problem. The demographics of the [...]
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thestatedtruth.com | July 28, 2010
By Alex Kowalski – Jul 28, 2010 Pacific Investment Management Co.’s Bill Gross said deficit spending by governments that seek to maintain artificial levels of consumption “can be compared to flushing money down an economic toilet.” Without acceleration in population growth, developed countries finance more consumption to maintain economic growth, the world’s biggest bond-fund manager [...]
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thestatedtruth.com | July 27, 2010
This means each additional dollar of debt is now working its way into a negative muliplyer effect on our economy….not to long ago, it had just the opposite effect, the more debt, the more we would grow. Now at some point going forward, a hiccup in the trillions of dollars of derivatives will set off a domino effect of defaults, [...]
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thestatedtruth.com | July 27, 2010
Just a reminder…… Jim Rogers was George Soro’s original partner for the Quantum Fund. Both are now billionaires! Robert Shiller, co-creator of the Standard & Poor’s/Case-Shiller house price index, also warned that the next downturn may come, maybe even sooner. By James Quinn, US Business Editor Published 27 Jul 2010 Mr Rogers, the respected currency trader and hedge [...]
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thestatedtruth.com | July 27, 2010
U.S. local governments may cut almost 500,000 jobs through next year to cope with sliding property taxes, a decline in state and federal aid and added need for social services, according to a report released today. The report, a result of a survey by the National League of Cities, the U.S. Conference of Mayors and [...]
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thestatedtruth.com | July 26, 2010
July 26 (Reuters) – Iranian criticism of Russian President Dmitry Medvedev is “unacceptable” and “fruitless, irresponsible rhetoric”, the Russian Foreign Ministry said on Monday. Medvedev told foreign ambassadors on July 12 that Iran was moving closer to the potential to create nuclear weapons. Iranian President Mahmoud Ahmadinejad reacted harshly last weekend, calling Medvedev’s statement “the [...]
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thestatedtruth.com | July 24, 2010
About 31 percent of U.S. oil output and about 10 percent of gas production, comes from the Gulf of Mexico according to the Energy Department By Dan Hart – Jul 24, 2010 Bonnie has degenerated to a “disorganized area of low pressure” near the U.S. Gulf Coast, hours after the National Hurricane Center lifted [...]
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thestatedtruth.com | July 24, 2010
THIS MAY BE THE ONLY THING GLOBAL ECONOMIES OF THE WORLD HAVE TO LOOK FORWARD TO. IN THE END, EVERYONE WILL BE WORSE OFF. GOLD ANYONE? Gloom, Boom and Doom publisher Marc Faber says the Fed will begin “massive” quantitative easing by October. “The economy is not robust,” Faber told Bloomberg. “We have mixed signals, but [...]
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thestatedtruth.com | July 24, 2010
By John Mauldin July 24, 2010 The Elements of Deflation Just as every school child knows that water is formed by the two elements of hydrogen and oxygen in a very simple combination we all know as H2O, so deflation has its own elements of composition. Let’s look at some of them (in no [...]
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thestatedtruth.com | July 22, 2010
Gobbledygook? We encounter it frequently. Contracts written at a reading level most can’t understand. Only one in five adults reads above a 12th-grade level. By Connie Prater Credit card agreements are written on average at a 12th grade reading level, making them not understandable to four out of five adults, according to a CreditCards.com [...]
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thestatedtruth.com | July 22, 2010
By Lydia Saad PRINCETON, NJ — Gallup’s 2010 Confidence in Institutions poll finds Congress ranking dead last out of the 16 institutions rated this year. Eleven percent of Americans say they have “a great deal” or “quite a lot” of confidence in Congress, down from 17% in 2009 and a percentage point lower than [...]
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thestatedtruth.com | July 22, 2010
* Louisiana declares state of emergency * U.S. officials evaluating whether to evacuate area Thu Jul 22, 2010 By Kristen Hays and Anna Driver HOUSTON, July 22 (Reuters) – BP Plc (BP.L) (BP.N) oil spill workers in the Gulf of Mexico prepared for a possible evacuation on Thursday as a tropical storm threatened [...]
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