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’Â Â Â Jan 15, Â 2010Â 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 […]
thestatedtruth.com | January 9, 2010
Friday evening the FDIC released information regarding the first bank closure of 2010 Horizon Bank of Bellingham, Washington. The statistics regarding this closure are terrible. If it is indicative of things to come it will be a very rough year for the FDIC. According to the FDIC, Horizon Bank had $1.1 billion in deposits and balance […]
thestatedtruth.com | January 9, 2010
John Mauldin’s  “Thoughts from the Frontline Weekly Newsletter” Those who are invested in the idea of a “V”-shaped recovery became excited over the jobs report last month. Unemployment rose by only 11,000 jobs, if you did not look at the underlying numbers or ignored the household survey. And the consumer confidence surveys have begun to rise. […]
thestatedtruth.com | January 8, 2010
Consumer Credit in U.S. Drops Record $17.5 Billion By Vincent Del Giudice Jan. 8 (Bloomberg) — Consumer credit in the U.S. dropped a record $17.5 billion in November as unemployment close to a 26- year high discouraged borrowing and banks limited access to loans. The slump in credit to $2.46 trillion was more than anticipated […]
thestatedtruth.com | January 7, 2010
Contrarian Investor Predicts Economic Crash in China  By DAVID BARBOZA January 8, 2010 SHANGHAI — James S. Chanos built one of the largest fortunes on Wall Street by foreseeing the collapse of Enron and other high-flying companies whose stories were too good to be true. Now Mr. Chanos, a wealthy hedge fund investor, is working […]
thestatedtruth.com | January 7, 2010
Top Banks Invited To Basel Risk Talks By Henny Sender in New York Published January 7, 2010 The Bank for International Settlements will gather top central bankers and financiers for a meeting in Basel this weekend amid rising concern about a resurgence of the “excessive risk-taking†that sparked the financial crisis. In its invitation, the […]
thestatedtruth.com | January 7, 2010
Homebuyer Tax Credits ‘Exceptionally Inefficient’ By David Wilson Jan. 7 (Bloomberg) — Tax credits designed to revive the U.S. housing industry are costing taxpayers as much as $80,000 for every additional home sold, according to Michael R. Widner, a Stifel Nicolaus & Co. analyst. The federal program is “an exceptionally inefficient use of tax dollars,†[…]
thestatedtruth.com | January 7, 2010
U.S. Warns Banks to Guard Against Rate-Rise Risks By Scott Lanman and Craig Torres Jan. 7 (Bloomberg) — U.S. regulators including the Federal Reserve warned banks to guard against possible losses from an end to low interest rates and reduce exposure or raise capital if needed. “In the current environment of historically low short-term interest […]
thestatedtruth.com | January 7, 2010
If 2008 was the year of financial crisis and 2009 the year of healing via monetary and fiscal stimulus packages, then 2010 appears likely to be the year of “exit strategies,†during which investors should consider economic fundamentals and asset markets that will soon be priced in a world less dominated by the government sector. […]
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