Who Killed The Bull, Or Is He Just Playing Possum
thestatedtruth.com | April 30, 2010
U.S. Role in Mortgage Market Reaches 96.5% Of All Home Loans
thestatedtruth.com | April 30, 2010
By NICK TIMIRAOS The U.S. government’s massive share of the nation’s mortgage market grew even larger during the first quarter. Government-related entities backed 96.5% of all home loans during the first quarter, up from 90% in 2009, according to Inside Mortgage Finance. The increase was driven by a jump in the share of loans backed [...]
John Williams Of “Shadowstatistics” Is A Specialist In Government Economic Reporting….He Says We’re Going To See An Intensified Downturn In The Near Future!
thestatedtruth.com | April 30, 2010
Everyone should take the time to read this, which is part of a broader interview done on April 30 . This will also effect interest rates. ShadowStats’ John Williams has done his math and believes his numbers tell the truth. He explains why the U.S. is headed for or in a depression and why a [...]
Are You Saying That I’m Fat?
thestatedtruth.com | April 30, 2010
Gordon T. Long Reviews Interest Rate Swap Deals That Have Become Problematic…..How About The $437 Trillion In Interest Rate Swaps Outstanding
thestatedtruth.com | April 30, 2010
PRIMA FACIA – WHERE IS UNCLE SAM? I have written extensively about the unregulated, non-exchange traded, offshore, off balance sheet (OTC) $605 Trillion derivatives market and specifically about the $437 Trillion Interest rate swap market. In Sultans of Swap: the Getaway I laid out some of the court actions taking place throughout Europe and the [...]
This Explains Where The U.S. Stands In The “Misery” Index
thestatedtruth.com | April 30, 2010
http://home.comcast.net/~lcmgroupe/2010/Article-Extend_Pretend-Uncle_Sam_You_Sly_Devil.htm
Here In Lies The Potential Problem
thestatedtruth.com | April 30, 2010
THIS IS CRITICAL…………….THE BALANCING ACT http://home.comcast.net/~lcmgroupe/2010/Article-Extend_Pretend-Uncle_Sam_You_Sly_Devil.htm
Ravitch: New York Deficit Could Swell To $15 Billion Next Year
thestatedtruth.com | April 30, 2010
The next crisis in the U.S. will likely be state and municiple debt problems. 33 states of the USA are headed for bankruptcy. By Bob Hennelly NEW YORK, NY April 29, 2010 New York’s $9.2 billion budget deficit is expected to balloon to $15 billion next year, according to Lt. Gov. Richard Ravitch. Speaking [...]
Greek Bailout Cost To The U.S.
thestatedtruth.com | April 30, 2010
Thought For The Day The cost for a Greek bailout to the citizens of the US via the IMF will be $100 billion. Now there is a nice addition to the Federal Budget Deficit. www.jsmineset.com
Oil Disaster…..Navy And Other Defense Department Resources Investigating
thestatedtruth.com | April 29, 2010
The Oil slick disaster, besides being a detriment to intended drilling projects, remains a mystery with respect to ‘cause’. Of course the dispatch of Navy and other Defense Department resources will be seen in the proper light of being helpful; while we ponder whether they’re investigating just in case something else happened; given the rig [...]
Secret Meetings…..So What’s On The Agenda?
thestatedtruth.com | April 29, 2010
Information is circulating of a secret meeting between U.S. and Egyptian as well as Israeli defense officials, as well as even the Palestinians asking the Chinese to back-off working with Iran; because of growing concern that Iran now seeks triggering a false reason for conflict, perhaps within the next three-four months or so. Egypt in [...]
What Was That Question Again?
thestatedtruth.com | April 29, 2010
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Shell Puts Oil Sands Expansion Plans On Hold
thestatedtruth.com | April 29, 2010
Nathan VanderKlippe and David Ebner Thursday, Apr. 29, 2010 Costs to build in the oil sands have grown so high that one of the world’s largest energy companies plans to wait at least five years – perhaps much longer – to expand its presence there. The oil sands have become one of the most costly [...]
The Set-Up For Higher Food Prices
thestatedtruth.com | April 29, 2010
No bats and no bees means an increase in food prices, plain and simple! Honeybee-Colony Losses Widened Last Winter, USDA Says Dwindling phosphorus supply, and important component of fertilizers, and decline bee populations suggest higher food prices. Managed colonies lost to all causes reached 33.8 of the total, compared with 29 percent a year earlier [...]
Bond Rally Teeters As Yield Spreads Blow Out, Interest Rates Set To Rise
thestatedtruth.com | April 29, 2010
By Bryan Keogh and Sonja Cheung April 29 (Bloomberg) — The record rally in corporate bonds is showing signs of cracking, with yields rising the most in 13 months relative to government debt and new sales falling to the least this year. The extra interest investors demand to own company debentures rather than government debt [...]
Wall Street Faces Capital Shortfalls Of As Much As $250 Billion From Banking Bill
thestatedtruth.com | April 29, 2010
By Dawn Kopecki April 29 (Bloomberg) – JPMorgan Chase & Co. and Goldman Sachs Group Inc. are among U.S. investment banks that may be forced to raise an additional $250 billion in capital, cut executive pay and divest some of their most lucrative assets under a bill on the U.S. Senate floor today, analysts say. [...]
Here We Go Again! European Currencies
thestatedtruth.com | April 28, 2010
European Currencies……Yikes
thestatedtruth.com | April 28, 2010
He Doesn’t See The Wall Of Domino’s Dead Ahead!
As The Old Saying Goes……You Ain’t Seen Nothing Yet
thestatedtruth.com | April 28, 2010
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Jim Sinclair’s Commentary
thestatedtruth.com | April 28, 2010
Here is a revealing question. Jim Sinclair’s Commentary The headline should read that when the British stop giving away low cost money that can be utilized at higher returns, the core business is in the crapper. Then the problem starts. RBS Says Impairments Likely to Remain High in 2010 By Andrew MacAskill and Jon [...]
Three Points of View: The United States, Pakistan and India
thestatedtruth.com | April 28, 2010
April 28, 2010 By Peter Zeihan In recent weeks, STRATFOR has explored how the U.S. government has been seeing its interests in the Middle East and South Asia shift. When it comes down to it, the United States is interested in stability at the highest level — a sort of cold equilibrium among the region’s [...]
Which Way Are We Headed Economically……..Heaven Or Hell, The Devel May Be In The Decisions
thestatedtruth.com | April 27, 2010
Bernanke: Cut Deficit Or Do ‘Great Damage’ To Economy
thestatedtruth.com | April 27, 2010
Jim Sinclair’s Commentary This is the setting up of plausible denial for the failure of stimulus, both monetary and fiscal, to reverse the negative economic trends camouflaged within skewed statistics. Bernanke: Cut Deficit Or Do ‘Great Damage’ To Economy WASHINGTON — Failing to curb federal budget deficits would do “great damage” to the U.S. economy [...]
Banks Bet Against U.S. Cities And States With Derivatives Using Credit Default Swaps
thestatedtruth.com | April 27, 2010
Banks Bet Against U.S. Cities, States First Posted: 04-27-10 Amidst growing pessimism about the financial condition of U.S. cities and states, investors are increasingly buying financial instruments that essentially allow them to short sell or bet against cities and states, says a Wall Street Journal report. Offered by banks like JP Morgan, Bank of America, [...]
A Sign Of The Times….Hundreds Camp Out For Job Opportunities In Queens
thestatedtruth.com | April 27, 2010
Some Arrived As Early As Friday Armed With Blankets Hoping To Get 1 Of 750 Applications For Elevator Industry Job Apr 27, 2010 By KATHRYN BROWN, CBS 2 HD News NEW YORK (CBS) ― An application to work for the Joint Apprentice & Training Committee of the Elevator Industry was handed out to hundreds of [...]
Unchartered Waters In Sovereign Debt Issuance, And Who’s That At The Front Of The Parade?
thestatedtruth.com | April 27, 2010
http://www.leap2020.eu/GEAB-N-43-is-available-Global-systemic-crisis-USA-UK-The-explosive-duo-of-the-second-half-of-2010-Summer-2010-The-Bank_a4531.html
The Federal Deficit
thestatedtruth.com | April 27, 2010
http://market-ticker.org/
Pension Pains: States Cut Benefits
thestatedtruth.com | April 27, 2010
Pension Pains: States Cut Benefits to Skirt Massive Funding Shortfall Illinois Teachers Complain; California Latest State to Push for Pension Reform By DALIA FAHMY Apr. 26, 2010 Dan Montgomery doesn’t have many kind words for his elected officials. The high school English teacher from Skokie says Illinois politicians spent years neglecting their obligations to [...]
Have No Fear, Obama Is Here…..
thestatedtruth.com | April 26, 2010
Here We Go Again……Which Way Was It That We Were Going?
thestatedtruth.com | April 26, 2010
From John Mauldins “Outside The Box”…… Eric Sprott…Weakness Begets Weakness: From Banks To Sovereigns To Banks
thestatedtruth.com | April 26, 2010
By: Eric Sprott & David Franklin Sprott Asset Management The Greek debt situation has been an interesting case study for students of the sovereign bond markets. If there’s a lesson to be learned from Greece’s experience thus far it’s that sovereign bailouts are far more complicated than bank bailouts. They require more sophisticated negotiations and [...]
A Flaming Greece
thestatedtruth.com | April 26, 2010
Cost of Insuring Greek Debt Soars To A New Record….Hmm, And They Said The Greek Save Was A Slam Dunk. We Ask This Question Again…..Why Would Anyone Ever Believe These Guys!
thestatedtruth.com | April 26, 2010
BY KATIE MARTIN AND MICHAEL WILSON LONDON—Hopes that Greece’s formal request for international financial aid might help stabilize the financial markets are proving short-lived Monday, with the cost of insuring Greek debt against default soared to a new record. The euro also took a dive, after briefly rebounding from a 12-month low of $1.32 against [...]
Germany Throws A Wrench Into The Works………..
thestatedtruth.com | April 26, 2010
Germany refuses to help Greece unless it agrees to tougher terms Germany’s finance minister Wolfgang Schauble has raised fresh obstacles to the €40bn (£35bn) aid package for Greece, warning that Berlin will not transfer funds until Athens agrees to tougher terms. By Ambrose Evans-Pritchard and Edmund Conway Published: 10:47PM BST 25 Apr 2010 Mr Schauble [...]
Dollar, Euro, Pound Are All ‘Ugly Sisters,’ HSBC’s King Says
thestatedtruth.com | April 26, 2010
April 26, 2010, 10:46 AM EDT By Jennifer Ryan April 26 (Bloomberg) — The dollar, euro and pound are all unappealing investments, either because of policies of “benign neglect” or concerns on the euro region’s stability, said Stephen King, chief economist at HSBC Holdings Plc. “It is a competition between ugly sisters, they are none [...]
Hmm….Economists: The Stimulus Didn’t Help! Are They Kidding? Nope
thestatedtruth.com | April 26, 2010
Economists: The stimulus didn’t help By Hibah Yousuf, staff reporter April 26, 2010: 3:56 AM ET NEW YORK (CNNMoney.com) — The recovery is picking up steam as employers boost payrolls, but economists think the government’s stimulus package and jobs bill had little to do with the rebound, according to a survey released Monday. In latest [...]
Peter Schiff: New Financial Regulations Will Likely Increase Severity Of The Next Crisis
thestatedtruth.com | April 25, 2010
By Peter Schiff April 25 The following is an opinion piece written by Peter Schiff, president of Euro Pacific Capital and author of Crash Proof 2.0: How to Profit from the Economic Collapse. Mr. Schiff, a Republican, is also running for the U.S. Senate seat currently held by Banking Committee chair Christopher Dodd. In a [...]
USA Launches Unmanned Space Aircraft
thestatedtruth.com | April 25, 2010
Interesting comments and photos of a new U.S. space shuttle…….from Russia’s Prauda. The weapon station of space. This is what some critics are calling the recent launch by the United States Air Force (USAF) of an unmanned space shuttle called X-37B. http://english.pravda.ru/photo/report/shuttle-5342
The Biggest Fix Yet………….
thestatedtruth.com | April 25, 2010
www.ingerletter.com
Just A Reminder…. We Either Are, Or Will Be At New Highs Very Soon On These Derivatives Charts
thestatedtruth.com | April 23, 2010
The Same Can Be Said For The Bond Market!
thestatedtruth.com | April 23, 2010
Barry Ritholtz Reviews The Case Against Goldman Sachs
thestatedtruth.com | April 23, 2010
The Daily Reckoning Presents 10 Things You Don’t Know (or were misinformed about) The Goldman Sachs Case I have been watching with a mixture of awe and dismay some of the really bad analysis, sloppy reporting, and just unsupported commentary about the GS case.I put together this list based on what I know [...]
Mortgage Math
thestatedtruth.com | April 23, 2010
$10 Billion a Month Freed up Each Month from People not paying their Mortgage. $1.9 Billion of That is in California so People can continue Leasing their SUV Mercedes and Getting Tans. Thanks Bailouts! Posted: Thu, 22 Apr 2010 16:31:29 +0000 Living in California, the central hub of housing bubble mania, I have come to [...]
Greece Says We Need Money And We Need It Now Or We’re Going Bankrupt!
thestatedtruth.com | April 23, 2010
Well, just curious, who would trust these guys……………..The Greek government pushed the button on an emergency financial bailout package Friday, formally acknowledging that it needs loans from its European neighbors and the International Monetary Fund to avoid a humiliating bankruptcy. The move came after weeks of insistence by Athens that it would not have to [...]
Moody’s And S&P Influenced By Wall Street For Ratings
thestatedtruth.com | April 22, 2010
By Jesse Westbrook April 22 (Bloomberg) — Moody’s Investors Service and Standard & Poor’s were influenced by Wall Street, had insufficient resources and used outdated models to grade mortgage securities that blew up when the U.S. housing market collapsed in 2007, according to Senate investigators. The Senate Permanent Subcommittee on Investigations concluded after an 18-month [...]
Dirty Bombs Revisited: Combating The Hype
thestatedtruth.com | April 22, 2010
April 22, 2010 By Scott Stewart As STRATFOR has noted for several years now, media coverage of the threat posed by dirty bombs runs in a perceptible cycle with distinct spikes and lulls. We are currently in one of the periods of heightened awareness and media coverage. A number of factors appear to have sparked [...]
Oh Oh….Wasn’t This Problem Solved? Nope
thestatedtruth.com | April 21, 2010
www.ingerletter.com
Jim Bianco Warns, “Punishingly High” Interest Rates Coming In Second Wave Of Financial Crisis
thestatedtruth.com | April 21, 2010
Wednesday, April 21, 2010 Second Wave of Financial Crisis? Jim Bianco warns, “Punishingly High” Interest Rates Coming in Second Wave of Financial Crisis: As this week’s earnings show, banks are once again printing money, lots of it; and most economists believe the recession is a thing of the past, even if jobs are still hard [...]
The Future of U.S. Housing……. An In Depth Report From MyBudget360
thestatedtruth.com | April 21, 2010
The Future of U.S. Housing – Projections of Household Formation, Loan Modification Data, 500,000 Option ARMs Still Active, and a Decade of Stagnation. Tue, 21 Apr 2010 Take what you knew about projecting housing for the last fifty years and throw it out the window. The big problem with using models post-World War II is [...]
Value-Added Tax May Be On The Table
thestatedtruth.com | April 21, 2010
WASHINGTON – President Barack Obama suggested Wednesday that a new value-added tax on Americans is still on the table, seeming to show more openness to the idea than his aides have expressed in recent days. Before deciding what revenue options are best for dealing with the deficit and the economy, Obama said in an interview [...]
Yikes….He Doesn’t See The Wall Dead Ahead!
thestatedtruth.com | April 20, 2010
From Stratfor……Baghdad Politics and the U.S.-Iranian Balance
thestatedtruth.com | April 20, 2010
April 20, 2010 By George Friedman The status of Iraq has always framed the strategic challenge of Iran. Until 2003, regional stability — such as it was — was based on the Iran-Iraq balance of power. The United States invaded Iraq on the assumption that it could quickly defeat and dismantle the Iraqi government and [...]
Jim Chanos Says Lehman Committed Financial Fraud
thestatedtruth.com | April 20, 2010
Jim Chanos, hedge fund manager and president of Kynikos Associates, sat down with FOX Business Network’s Charlie Gasparino and Brian Sullivan to talk Lehman Brothers (LEHMQ) investigation, Goldman Sachs (GS) vs SEC, predicting financial scandals and China. Apr 20, 2010 Courtesy of Fox Business Network On whether Lehman was a criminal fraud: “I think [...]
Double Burp……..
thestatedtruth.com | April 19, 2010
Stock Market Hustle – Three Ways Wall Street has Created a New American Serfdom And The Overly Expensive Mortgage Deduction
thestatedtruth.com | April 19, 2010
Posted: Sun, 19 Apr 2010 www.thestatedtruth.com Last week the S&P 500 almost reached an impressive 80 percent gain from the red abyss seen in March of 2009. This puts this stock market rally up in the ranks of the strongest and fastest market turnarounds in history. Yet on Friday news of Goldman Sachs betting on [...]
Is The U.S. Looking More and More Like WIMPY!
thestatedtruth.com | April 18, 2010
Burp……..
thestatedtruth.com | April 18, 2010
Where Did This Come From…..DRAMATIC COMMERCIAL BANK LENDING SPIKE
thestatedtruth.com | April 18, 2010
DRAMATIC COMMERCIAL BANK LENDING SPIKE There appears to be mysteries everywhere we look, just like the days of Enron, the US sub-prime housing bubble and with Greek debt accounting. Below is the just released Federal Reserve report from FRED (Federal Reserve Economic Data) showing the weekly loans and leases of US Commercial Banks. The [...]
U.S. TREASURY AUCTION – Historic Direct Versus Indirect Bids
thestatedtruth.com | April 18, 2010
U.S. TREASURY AUCTION – Historic Direct Versus Indirect Bids With a historic and massive $1.6 Trillion of new US government debt to be financed in 2010, as tax payers on the hook for this debt, we need to listen to what is concerning those that participate in the critically important US Treasury Auction. Additionally, we [...]
Not Good To Say The Least…….PLUMMETING U.S. MONEY SUPPLY Despite QE (Quantitative Easing)
thestatedtruth.com | April 18, 2010
PLUMMETING US MONEY SUPPLY DESPITE QE (Quantitative Easing) The chart above from Shadow Government Statistics is more than a little alarming. The M3 money supply reporting is shown above, which we all used to watch meticulously and was suddenly and suspiciously dropped without explanation in March 2007. John Williams of Shadow Government Statistics still [...]
The New World Of Mortgage Servicing Loss Mitigation
thestatedtruth.com | April 18, 2010
Welcome to the world of mortgage servicing loss mitigation… We now have the situation in this country where after delinquent borrowers are offered a loan modification option which takes the interest rate down to 2% for 5 years, extends the mortgage term to 40 years and forebears (soon will forgive) some of the principal balance [...]
Seems Logical……Jim Sinclair’s Commentary
thestatedtruth.com | April 18, 2010
Who paid the bonuses for Wall Street and how it worked: 1. FASB capitulates and allows holders of OTC derivatives to value them at whatever they wish. 2. International investment firms begin strong mark up policies towards their crap inventory. 3. Profits from the mark up of crap OTC derivatives by the international investment firms [...]
Where Do Your Federal and State Tax Dollars Go?
thestatedtruth.com | April 16, 2010
By Mark Thomas
Goldman Sachs Sued by SEC for Fraud Tied to CDOs
thestatedtruth.com | April 16, 2010
Goldman Sachs Sued by SEC for Fraud Tied to CDOs By Joshua Gallu and Christine Harper April 16 (Bloomberg) — Goldman Sachs Group Inc. was sued by U.S. regulators for fraud tied to collateralized debt obligations that contributed to the worst financial crisis since the Great Depression. The firm’s shares tumbled as much as 16 [...]
Goldman Real Estate Fund Down To $30m From $1.8 Billion
thestatedtruth.com | April 15, 2010
By Henny Sender in New York Published: April 16 2010 Whitehall Street International, Goldman Sachs’ international real estate investment fund, has lost almost all of its $1.8bn of equity following soured property investments in the US, Germany and Japan, according to the fund’s estimates. By the end of 2009, the fund was down to its [...]
What, Me Worry! Ok….Don’t Say You Weren’t Warned
thestatedtruth.com | April 15, 2010
The World Currency Of Choice
thestatedtruth.com | April 15, 2010
George Soros Warns Of Biggest Market Crash To Come, As “We Are Facing A Yet Larger Bubble” Than During Credit Crisis
thestatedtruth.com | April 15, 2010
04/15/2010 George Soros, speaking at a meeting organized by The Economist, warns all those who are throwing their money into the equity pit, that “the financial world is on the wrong track and that we may be hurtling towards an even bigger boom and bust than in the credit crisis.” Advice from Soros or from [...]
Satellite Images Of Volcanic Cloud Causing “Worst In Living Memory” European Aerospace Restrictions
thestatedtruth.com | April 15, 2010
Here are some images of the volcanic cloud which is causing airspace shutdowns over most of Europe.
Oh My God, You’ve Got To Be Kidding…..The Bill We Passed Is What?
thestatedtruth.com | April 14, 2010
You Did What! …… We Don’t Have To Tell You What A Mess This Is Nancy, Do We! …. Just Don’t Step In Any Of It.
thestatedtruth.com | April 14, 2010
Morgan Stanley Property Fund May Lose 66% Of Its Money
thestatedtruth.com | April 13, 2010
APRIL 14, 2010 By ANTON TROIANOVSKI And LINGLING WEI Morgan Stanley has told investors in its $8.8 billion real-estate fund that it may lose nearly two-thirds of its money from bum property investments, according to fund documents reviewed by The Wall Street Journal. That would likely make it the biggest dollar loss—$5.4 billion—in the history [...]
Hmm………….
thestatedtruth.com | April 13, 2010
Are We Starting A Trade War With China?
thestatedtruth.com | April 13, 2010
Last week the US put duties on Chinese steel pipe. This week China puts duties on US and Russian electrical steel. Getting into a trade war now is as crazy as the Smoot-Hawley Tariff Act was in the 1930s. Remember this……… China will do only what China wants. China will do only what China wants [...]
Kyrgyzstan And The Russian Resurgence
thestatedtruth.com | April 13, 2010
April 13, 2010 | 0854 GMT By Lauren Goodrich This past week saw another key success in Russia’s resurgence in former Soviet territory when pro-Russian forces took control of Kyrgyzstan. The Kyrgyz revolution was quick and intense. Within 24 hours, protests that had been simmering for months spun into countrywide riots as the president [...]