thestatedtruth.com | January 31, 2010
U.S. Beefs Up Military Presence Off Iranian Shores Sun, 31 Jan 2010 08:50:31 GMT In addition to imposing new sanctions on the Tehran government, the US has reportedly begun beefing up its military presence and war paraphernalia off the Iranian coast. US military officials told AP on condition of anonymity that Washington has taken silent [...]
thestatedtruth.com | January 31, 2010
U.S. speeds up arms buildup with Gulf allies Initiatives with Arab nations, military aimed at thwarting Iran attacks By Joby Warrick Washington Post Staff Writer updated 3:37 p.m. MT, Sat., Jan. 30, 2010 DUBAI, UNITED ARAB EMIRATES – The Obama administration is quietly working with Saudi Arabia and other Persian Gulf allies to speed up [...]
thestatedtruth.com | January 31, 2010
China Suspends Military Ties With U.S. Sat, 30 Jan 2010 13:48:25 GMT China suspends military exchanges with the US and threatens to impose sanctions on US arms companies over a Washington decision to sell weapons to Taiwan. China’s Defense Ministry suspended military exchange visits with the US, saying the suspension was “in consideration of the [...]
thestatedtruth.com | January 31, 2010
Swiss warn UBS bank could collapse GENEVA — Switzerland’s justice minister warned in an interview on Sunday that top bank UBS could collapse if sensitive talks with the United States over a high-profile tax fraud investigation fall through. “The actions of UBS in the United States are very problematic. Not just because they are punishable [...]
thestatedtruth.com | January 30, 2010
Jan. 29 (Bloomberg) — Russia urged China to dump its Fannie Mae and Freddie Mac bonds in 2008 in a bid to force a bailout of the largest U.S. mortgage-finance companies, former Treasury Secretary Henry Paulson said. Paulson learned of the disruptive scheme while attending the Beijing Summer Olympics, according to his memoir, On The [...]
thestatedtruth.com | January 30, 2010
By NICK TIMIRAOS It is payback time for Fannie Mae and Freddie Mac on some mortgages sold to the finance companies by lenders. Stuck with about $300 billion in loans to borrowers at least 90 days behind on payments, Fannie and Freddie have unleashed armies of auditors and other employees to sift through mortgage files [...]
thestatedtruth.com | January 30, 2010
The U.S. is running massive deficits. If we do not get them under control, we will one day, and perhaps quite soon, face our own “Greek moment.” Look at the graph below, and weep. Obama offering to freeze spending by 17% in US discretionary-spending programs, after he ran them up over 20% in just one [...]
thestatedtruth.com | January 30, 2010
Greece is running a budget deficit of 12.5%. Under the Maastricht Treaty, they are supposed to keep it at 3%. Their GDP was $374 billion in 2008 (about €240 billion). If they can cut their budget deficit to 10% this year, that means they will need to go into the bond market for another €25 [...]
thestatedtruth.com | January 29, 2010
But we are at an inflexion point and the middle class is largely being squeezed out. A recent study from the Commerce Department shed some light on an issue that we already know. Over the past 20 years the middle class has been falling behind: Everything is relative in this world. Incomes have gone up [...]
thestatedtruth.com | January 29, 2010
So of married couples with two children 76 percent have two earners. The average American is simply working to stay on track or face being thrown off the treadmill. Jobs are so important to keeping a solid middle class. This should be obvious but current policy being driven by the corporatacracy is simply focusing on [...]
thestatedtruth.com | January 29, 2010
We have many more people simply trying to stay afloat let alone pursuing the middle class ideal. Over 37 million Americans are now part of the food stamp program, not only is this the highest number ever but also the highest percentage of Americans ever to be on food assistance: More at : http://www.mybudget360.com/
thestatedtruth.com | January 29, 2010
Delphi Salaried Workers’ Pensions Cut Judge OKs reduction for salaried retirees while suit continues DAVID SHEPARDSON Detroit News Washington Bureau January 29, 2010 Washington — More than 500 of auto supplier Delphi Corp.’s salaried retirees will start receiving reduced pension checks starting Monday. Delphi’s 21,000 salaried retirees and plan participants, thousands of whom live [...]
thestatedtruth.com | January 28, 2010
thestatedtruth.com | January 28, 2010
thestatedtruth.com | January 28, 2010
Pennsylvania Capital Should Weigh Bankruptcy, Controller Says By Dunstan McNichol Jan. 26 (Bloomberg) — Harrisburg, Pennsylvania, the capital of the sixth-largest U.S. state by population, should skip a $2.2 million debt service payment due Feb. 1 and consider bankruptcy, City Controller Dan Miller said. Harrisburg faces $68 million in payments this year in connection with [...]
thestatedtruth.com | January 28, 2010
Gloomy Scenarios As Bankers Duck For Cover Jan 27 2010, 3:49 pm by Alan Friedman DAVOS, Switzerland – The U.S. and European economic recoveries could run out of steam later this year, and they could be faced with a prolonged period of low growth, high unemployment, a huge debt overhang on both governments and households, [...]
thestatedtruth.com | January 28, 2010
thestatedtruth.com | January 28, 2010
thestatedtruth.com | January 27, 2010
thestatedtruth.com | January 27, 2010
Airlines Suffered Record Drop In Traffic In 2009: IATA Jan 27 05:19 AM US/Eastern International airlines suffered their biggest decline in traffic since 1945 last year as passenger demand fell 3.5 percent, the International Air Transport Association said Wednesday. Freight also fell, by 10.1 percent, as “full-year 2009 demand statistics for international scheduled air traffic [...]
thestatedtruth.com | January 27, 2010
U.S. Households Struggle To Afford Food: Survey WASHINGTON (Reuters) – Nearly one in five U.S. households ran out of money to buy enough food at least once during 2009, said an antihunger group on Tuesday, urging more federal action to help Americans get enough to eat. “There are no hunger-free areas of America,” said Jim [...]
thestatedtruth.com | January 26, 2010
Gene Inger’s Daily Briefing . . . for Wednesday January 27, 2010: Good evening; The ‘State of the Union’ . . .has marginally stabilized. As Government is compelled to grow the economy by letting the economy get bigger (instead of believing old ideas that simple low rates with low availability or even lower demand for [...]
thestatedtruth.com | January 25, 2010
Lessons from the Panic of 1907 by Clif Droke January 25, 2010 In their timely look at the panic of 1907, Robert Bruner and Sean Carr focus attention on what they believe to be the underlying causes of the ’07 stock market crash and recession, drawing parallels between it and the credit crisis of more [...]
thestatedtruth.com | January 25, 2010
The Scary Budget Numbers By David Walker New York, New York The recession and attendant financial shock appear to be easing as I write this. But in Washington, financial imprudence is part of the fabric of government. You can see that in a single document that gets updated every year: the US budget. In putting [...]
thestatedtruth.com | January 25, 2010
thestatedtruth.com | January 25, 2010
This from the Wall Street Journal………..What is it that has been taking the world down…..DEBT, DEBT,DEBT…..looks like just the beginning for commercial, and another disaster for California retirements funds….. Tishman Speyer Properties has decided to give up the sprawling Peter Cooper Village and Stuyvesant Town apartment complex in Manhattan to its creditors in the collapse of [...]
thestatedtruth.com | January 25, 2010
A tale of “hot money” cd deposits and dumb management running many community banks…….They “were caught up in the land-rush mentality,” said Brighton Bank President Howard Holt, whose Salt Lake City institution remained above the fray as a frenzy of imprudence and greed swept through the real estate and financial markets. Many more community banks are in [...]
thestatedtruth.com | January 24, 2010
thestatedtruth.com | January 24, 2010
Latin America To Meet On New Currency Sun, 24 Jan 2010 08:40:07 GMT Latin American presidents have organized a meeting to take a step to ‘break’ their dependence on US dollar in regional financial transactions. Venezuelan President Hugo Chavez said on Saturday that the leaders would meet Monday in Caracas. “We’ll have a very important [...]
thestatedtruth.com | January 24, 2010
thestatedtruth.com | January 24, 2010
January 22, 2010 Euro Pacific Capital…….John Brownes Market Commentary Having been among the economic engines of Europe for much of the past decade, it appears as if the British economy has run out of steam. Inflation is rising while bankruptcies and unemployment continue to swell. It is a problem that would have left Lord Keynes’ [...]
thestatedtruth.com | January 23, 2010
Comstock Partners, Inc. Banks Are Not the Only Problem January 2010 The President’s proposal to rein in the large banks is only a catalyst for a decline that was bound to happen. There are lots of other reasons, both fundamental and technical, why the market has and will continue to sell off. That the talking [...]
thestatedtruth.com | January 22, 2010
Quarterly Review and Outlook – Fourth Quarter Hard Road Ahead The U.S. is facing a long and difficult road as it attempts to correct the over-indebtedness and wasteful expenditures of the past two decades. Both current and historical research help us to understand where we are in the continuing economic crisis, and to put [...]
thestatedtruth.com | January 22, 2010
By Paul Merrion, Greg Hinz and Steven R. Strahler Jan. 18, 2010 As Illinois’ fiscal crisis deepens, the word “bankruptcy” is creeping more and more into the public discourse.”We would like all the stakeholders of Illinois to recognize how close the state is to bankruptcy or insolvency,” says Laurence Msall, president of the Civic [...]
thestatedtruth.com | January 21, 2010
thestatedtruth.com | January 21, 2010
thestatedtruth.com | January 21, 2010
By John Gittelsohn Jan. 21 (Bloomberg) — More than 40 U.S. homebuilders have teamed up with private equity firms to acquire and complete unfinished subdivisions as banks cut construction lending. The investments will pay off for the builders and their investors if the prices are low enough and the locations are in areas where demand [...]
thestatedtruth.com | January 21, 2010
China: Lending Restrictions and Beijing’s Predicament Stratfor Today | January 20, 2010 | 1808 GMT Liu Mingkang, head of the China Banking Regulatory Commission (CBRC), said in an interview Jan. 20 that several Chinese banks had been asked to restrain their lending after proving to have inadequate capital reserves. Chinese media reports claimed [...]
thestatedtruth.com | January 21, 2010
thestatedtruth.com | January 21, 2010
By Nicholas Johnston and Julianna Goldman Jan. 21 (Bloomberg) — President Barack Obama, tapping into voter anger over bank bailouts, called for limiting the size and trading activities of financial institutions as a way to reduce risk-taking and prevent another financial crisis. The proposals, to be added to an overhaul of regulations being considered by [...]
thestatedtruth.com | January 21, 2010
Gene Inger’s Daily Briefing . . . for Friday January 22, 2010: Good evening; Bloody murder . . .may be screamed by some financial institutions (mostly in the so-called ‘too big to fail’ crowd) in the wake of already-brewing moves against quick resumptions of their old tactics, in trading but while withholding lending, [...]
thestatedtruth.com | January 20, 2010
Airline Revenue: Worst Drop Ever By Ben Rooney, staff reporterJanuary 20, 2010: 1:05 PM ET NEW YORK (CNNMoney.com) — The airline industry suffered its largest drop ever in passenger revenue last year as a weak economy grounded many would-be travelers, an industry group said Wednesday. The Air Transport Association of America said total passenger revenue [...]
thestatedtruth.com | January 20, 2010
thestatedtruth.com | January 19, 2010
Credit cards are ubiquitous like air in the American economy. Virtually every American that can qualify for a credit card has one (or many) in their wallet. Credit card companies have flooded the market with millions of plastic rectangles that have now come back to bite many American consumers. If we rewind back to the [...]
thestatedtruth.com | January 19, 2010
“I’m Mad as Hell and I’m Not Gonna Take it any More” January 19, 2010. 9:34 PM, Massachusetts time The title of this missive comes from “Network” an award winning 1976 American satirical film. We remember it then and respect it now. “I’m mad as hell and I’m not gonna take it any [...]
thestatedtruth.com | January 18, 2010
thestatedtruth.com | January 18, 2010
A Blonde’s Year in Review January Took new scarf back to store because it was too tight.. February Fired from pharmacy job for failing to print labels…… Helllloooo!!!……..bottles won’t fit in printer !!! March Got really excited……finished jigsaw puzzle in 6 months….. box said “2-4 years!” April Trapped on escalator for hours …. power [...]
thestatedtruth.com | January 18, 2010
By Jerry Hirsch January 18, 2010 Even as they finish closing plants from their worst sales year in decades, beleaguered automakers are also starting to hire again — almost 5,000 workers in the coming year. The added jobs amount to just a fraction of the roughly 40,000 that carmakers shed during their tailspin last [...]
thestatedtruth.com | January 17, 2010
Just think about the bailouts and which companies were saved. We ended up bailing out the worst performing and troubled companies thus keeping alive companies that should have completely failed. Did we bail out Google? Proctor and Gamble? Of course not. These companies actually produce something that people want. Banks and especially the Wall Street [...]
thestatedtruth.com | January 17, 2010
Some of you are probably not aware that the commercial real estate market has crossed a dreaded line in the sand. Commercial real estate (CRE) that includes apartments, industrial, office, and retail space is now performing worse than residential real estate. Not just by a little but by a good amount. While the CRE bust [...]
thestatedtruth.com | January 16, 2010
thestatedtruth.com | January 16, 2010
Newest GEAB N°41 Is Available! The Decade 2010 – 2020: Knockout Victory By Gold Over The Dollar – GEAB N°41 (January 16, 2010) – The US Federal Reserve is no longer able, in reality, to continue its multi-decade combat against the « barbarous relic » in order to guarantee the supremacy of the US [...]
thestatedtruth.com | January 16, 2010
Comstock Partners, Inc. The Bank Chiefs’ Incredible Testimony January 14, 2010 When we saw the esteemed chiefs of the nation’s top banks testify that nobody could foresee the coming devastating residential mortgage problem or that home prices could ever come down we stared at our TV sets in disbelief and disgust. After all, we had [...]
thestatedtruth.com | January 16, 2010
Comstock Partners, Inc. Recovery or Recession? January 2010 Bombarded by a constant stream of primary, secondary and tertiary economic statistics being released daily with a highly positive spin in the financial media, investors need to be reminded that the numbers that really count indicate an economy still in a deep rut. Let’s take a look at [...]
thestatedtruth.com | January 16, 2010
Eurozone central-bank president Jean-Claude Trichet yesterday described the idea that Greece will be forced to quit the monetary union because of its huge budget deficits and weakening government bonds. Greece today submits a new budget to the European Commission, aimed at cutting its debts from 113% of annual economic output. “These internal strains are independent [...]
thestatedtruth.com | January 16, 2010
The SHEER SIZE of the US government’s debt hasn’t put off new bond buyers so far in 2010. You’ve got to wonder what kind of news – or debt – it might take to deter them In just two days this week, the Treasury issued $61 billion in new debt – twice as much money [...]
thestatedtruth.com | January 15, 2010
Markets Not Facing ‘Reality’ Jan 15, 2010 Financial markets have failed to price in the remaining problems that bedevil a long-term economic recovery, Pimco’s Mohamed El-Erian told CNBC. Inconsistencies that the market faces include the tax on bailed out banks that President Obama announced Thursday and its effects on their ability to lend; long-term [...]
thestatedtruth.com | January 15, 2010
JP Morgan Chase Earns $11.7 Billion in Year By ERIC DASH Published: January 15, 2010 JPMorgan Chase kicked off what is expected to be a robust — and controversial — reporting season. In a remarkable rebound from the depths of the financial crisis, JPMorgan earned $11.7 billion last year, more than double its profit in [...]
thestatedtruth.com | January 14, 2010
thestatedtruth.com | January 14, 2010
THE PROBABILITY OF A CRISIS WILL BUILD DURING 2010 January 2010 So says the team of equity analysts at Barclays. Although policymakers helped avoid the second Great Depression, Barclays believes we have simply kicked the can down the road. As their head of U.S. equity strategy said in November, the likelihood of Japanese [...]
thestatedtruth.com | January 14, 2010
The End of Extend and Pretend By Dan Amoss Jacobus, Pennsylvania Attention REIT investors! The commercial real estate is a disaster-in- the-making – both for property investors and for the thousands of American banks that are carrying outsized exposure to commercial borrowers. Commercial real estate borrowers and their lenders face a mountain of debt [...]
thestatedtruth.com | January 14, 2010
Real Estate Bull Laub Sees Unprecedented Workout From Bad Debt By Beth Williams and Stuart Bern (Bloomberg) — Kenneth Laub has been through three commercial real estate boom and bust cycles during almost five decades as a broker and consultant to corporations such as Hess Corp. and International Paper Co. He says the current [...]
thestatedtruth.com | January 14, 2010
Is It Written In The Stars?– Peter Brimelow devotes his column this morning to the latest projections from Arch Crawford. Crawford in case you didn’t know, bases many, in fact most, of his projections through the use of astrology. Brimelow noted that Crawford sees not just another crash this year but dramatic societal changes to go with [...]
thestatedtruth.com | January 14, 2010
Chatter About The Latest Mystery In The Treasury Market – Stock traders spend a lot of time watching interest rates. So, they have homed in this huge Treasury auctions this week. The auctions have gone much better than expected. That may be the result of aggressive bidding by one mysterious bidder. Here’s how the FT [...]
thestatedtruth.com | January 14, 2010
U.S. retail sales fell unexpectedly in December, signaling restraint by consumers during the holiday season. In a separate report, inventories rose by more than forecast for December, helping to temporarily add to the economies recovery in the last quarter of 2009. Excluding car sales, all other retail sales in December fell 0.2% vs. an expected 0.3% [...]
thestatedtruth.com | January 13, 2010
Gene Inger’s Daily Briefing . . . for Thursday January 14, 2010 Good evening; Credit woes piling up . . . threaten to dose the optimism generated by a false rally in terms of the extension by the stock market. This will be felt (didn’t say may be felt) by a slew of [...]
thestatedtruth.com | January 13, 2010
Elements That Rule The Globe Rare-earths are so-called because when they were first discovered in the 19th Century in Sweden, they were believed to be some of the most uncommon elements. But through further scientific discovery, rare-earths have been found to be relatively abundant in the Earth’s crust. However, the high cost of extraction means [...]
thestatedtruth.com | January 13, 2010
thestatedtruth.com | January 12, 2010
thestatedtruth.com | January 12, 2010
Bank of America blew away the competition last year in the business of underwriting stock offerings by commercial real-estate firms. The secret of success: Bank of America leveraged its relationships with real-estate borrowers to generate a flood of investment-banking work, much of it handled by former Merrill bankers who decided to stick around after the [...]
thestatedtruth.com | January 11, 2010
thestatedtruth.com | January 10, 2010
You wanna see 21 reasons why we’re not embarking on a new secular bull run, despite what you’ll read in the popular press? Check out the table below, courtesy of our friends at Gluskin Sheff: Click on the box below to enlarge……….. Thanks to…..http://www.minyanville.com/articles/todd-harrison-markets-minyanville-stock-finance/index/a/26255
thestatedtruth.com | January 10, 2010
In March 2009 Singapore legalized a government plan for paying organ donors. Although it’s not clear yet when this will be implemented, the amounts being discussed for payment, around $50,000, suggest the possibility of a significant donor incentive. So far, the U.S. has lagged other countries in addressing the shortage, but last year, Sen. Arlen [...]
thestatedtruth.com | January 10, 2010
Here are some comments from the Alan M. Newman Stock Market CROSSCURRENTS Report out for January 2010…………….. On the hourly charts, there are a series of bottoms just above Dow 10,200 dating back to November 12th. When this level breaks, we should be on our way and accelerate down to anticipated support between 8100-8400. We do not see [...]
thestatedtruth.com | January 9, 2010
U.S. apartment vacancy rate hits 30-year high Thu Jan 7, 2010 1:01am EST By Ilaina Jonas NEW YORK, Jan 7 (Reuters) – The U.S. apartment vacancy rate rose to an almost 30-year high of 8 percent in the fourth quarter, and rents dropped in the biggest one-year slump, according to real estate research company Reis [...]