thestatedtruth.com | June 30, 2010
Old Farmer’s Advice: Your fences need to be horse-high, pig-tight and bull-strong. Keep skunks and bankers at a distance. Life is simpler when you plow around the stump. A bumble bee is considerably faster than a John Deere tractor. Words that soak into your ears are whispered…not yelled. Meanness don’t jes’ happen overnight. Forgive [...]
thestatedtruth.com | June 30, 2010
So, the big question is….can the U.S. cope with another banking emergency? By Sean O’Grady and James Moore Tuesday, 29 June 2010 Britain’s mountain of debt could leave the country powerless to launch another rescue bid in the wake of a fresh financial crisis, the world’s central bankers warned yesterday. Their “club” – the Bank [...]
thestatedtruth.com | June 30, 2010
U.S. debt has gone from 40% of the economy in 2008 to 62% of the economy by the end of 2010. Yikes! Jun 30, 2010 The federal debt will represent 62% of the nation’s economy by the end of this year, the highest percentage since just after World War II, according to a long-term budget [...]
thestatedtruth.com | June 30, 2010
By Dan Levy Jun 30, 2010 Homes in the foreclosure process sold at an average 27 percent discount in the first quarter as almost a third of all U.S. transactions involved properties in some stage of mortgage distress, according to RealtyTrac Inc. A total of 232,959 homes sold in the period had received [...]
thestatedtruth.com | June 29, 2010
By: Richard Benson, SFGroup Living realistically is not something anyone wants to do in an election year, and it may be especially difficult for the Baby Boomer generation to grasp, along with their children. Over the last two decades as wages swelled, and job prospects were unlimited, the Baby Boomers became accustomed to living well [...]
thestatedtruth.com | June 28, 2010
This spells big big trouble for the world, it effects everyone every where……………..The ECRI leading indicator produced by the Economic Cycle Research Institute plummeted yet again last week to -6.9, pointing to contraction in the US by the end of the year. It is dropping faster that at any time in the post-War era. Andrew [...]
thestatedtruth.com | June 28, 2010
thestatedtruth.com | June 28, 2010
Here is the latest Gulf oil map……….. www.ingerletter.com
thestatedtruth.com | June 28, 2010
thestatedtruth.com | June 28, 2010
From Art Cashin on the floor of the New York Stock Exchange……….. On this day in 1914, a wrong turn changed the course of history. Of course, things were different then, at that time, there was nationalism afoot in Eastern Europe. The big flashpoint of nationalism was in what we used to call Yugoslavia. [...]
thestatedtruth.com | June 28, 2010
Gene Inger’s Daily Briefing . . . for Tuesday June 29, 2010 At presstime: We just learned that the USS Nassau (I have personally been on that ship just as a curiosity to note, with an officer friend of mine who flew a helicopter off LHA-4 at the time) Amphibious Assault Ship carrying 4000 Marines has [...]
thestatedtruth.com | June 28, 2010
By Barry Ritholtz By using traditional metrics: Whether we are looking at U.S. housing stock as a percentage of GDP or Median income versus home prices or even ownership versus renting costs, prices remain elevated. Indeed, we see prices remain above historic means. Consider price relative to income. From 1977 to 2010, the median U.S. [...]
thestatedtruth.com | June 27, 2010
34 states saw tax collections decline in the first quarter of 2010. State budget deficits projected well into 2010 – Plunging tax revenues reflect a weaker economy dragged down by pervasive unemployment and underemployment. $112 billion in state budget gaps for fiscal 2011. Posted: Sun, 27 Jun 2010 Big states with dismal budget short falls [...]
thestatedtruth.com | June 27, 2010
A critical bill to extend unemployment benefits that was unable to pass congress last week will likely have lingering effects going forward. This will be a big hit to Americans spending as 1.3 million unemployed Americans will have lost their assistance by the end of this week. Beginning in July, there will be $2.4 billion less [...]
thestatedtruth.com | June 27, 2010
The Pentagon has now confirmed that a fleet of 12 warships has passed the Suez Canal, and is now likely awaiting orders to support the escalation in the Persian Gulf. We can’t be sure if the following is all true, so we would caution readers to view this news cautiously. We should point out that according to [...]
thestatedtruth.com | June 26, 2010
What Geithner really wants is for everyone to spend more, but isn’t that what got us in this mess to begin with? By Rebecca Christie and John Brinsley Jun 26, 2010 U.S. Treasury Secretary Timothy F. Geithner urged Group of 20 leaders at a summit this weekend in Canada to commit to policies that ensure [...]
thestatedtruth.com | June 26, 2010
This may be the first sign of good luck in a while for the massive oil problem in the Gulf of Mexico! By Dan Hart and Brian K. Sullivan Jun 26, 2010 Tropical Storm Alex bore down on the coast of Belize and the Yucatan Peninsula today, and may spare BP Plc‘s efforts to contain [...]
thestatedtruth.com | June 26, 2010
By Edward Robinson June 25,2010 Californians don’t see much evidence that the worst economic contraction since the Great Depression is coming to an end. Unemployment was 12.4 percent in May, 2.7 percentage points higher than the national rate. Lawmakers gridlocked over how to close a $19 billion budget gap are weighing the termination of the [...]
thestatedtruth.com | June 25, 2010
The New Song In Congress, Bye Bye Bonus For Wall Street And Banks!
thestatedtruth.com | June 24, 2010
Gene Inger……of the ingerletter.com Remember my comment about BP wanting to drill in 500 ft. not 5000 feet Gulf depth? Turns out that everyone (even the Pentagon and Secretary of Energy and the Pres. as well) signed-off on deep drilling. Their logic was self-sufficiency in-event war came with Iran and we needed nearly 8-10 months [...]
thestatedtruth.com | June 24, 2010
Sounds like the same thing Matt Simmons said a week ago! Quotes – Former Shell CEO John Hoffmesiter June 23, 2010… If you really want to stop a blowout the fastest way the most efficient way is you blow it in, you use explosives. 1:00 Hoffmesiter: Now the problem with that, that is [...]
thestatedtruth.com | June 24, 2010
London, UK A new and less well known asymmetric threat has surfaced in the Gulf of Mexico oil gusher. Methane or CH4 gas is being released in vast quantities in the Gulf waters. Seismic data shows huge pools of methane gas at the location immediately below and around the damaged “Macondo” oil well. Methane is [...]
thestatedtruth.com | June 24, 2010
In Summary…….There will not be inflation, particularly if quantitative easing, debt monetization and stimulus are being abandoned. It is Contraction with a capital “C” and nothing less. Negative growth is coming…..We are witnessing a sea-change of events unfolding that to my way of thinking spell a certainty of a global recession if not worse. Yes, [...]
thestatedtruth.com | June 24, 2010
Methane in Gulf “astonishingly high”: U.S. scientist (Reuters) – As much as 1 million times the normal level of methane gas has been found in some regions near the Gulf of Mexico oil spill, enough to potentially deplete oxygen and create a dead zone, U.S. scientists said on Tuesday. Texas A&M University oceanography professor John [...]
thestatedtruth.com | June 24, 2010
Vincent Fernando, CFA Jun. 24, 2010 Deutsche Bank has a new and improved index of U.S. financial conditions, and this index just slumped back towards the lows of our recent crisis. Deutsche Bank’s Peter Hooper: Financial conditions appear to have worsened substantially in recent quarters based on our update of the broad index of US [...]
thestatedtruth.com | June 23, 2010
Jun 23, 2010 Billionaire investor George Soros believes the euro is a flawed construct. According to Mr. Soros, the euro was an incomplete currency from the start as the EU’s 1992 Maastricht Treaty, which led to the creation of the euro currency, established a monetary union without a political union. In a speech for delivery [...]
thestatedtruth.com | June 23, 2010
NBC is presently taking a poll on “In God We Trust” to stay on our American currency. Please send this to every person you know so they can vote on this important subject. Please do it right away, before NBC takes this off their web page. Poll is still open so you can [...]
thestatedtruth.com | June 23, 2010
Source: Heritage Foundation
thestatedtruth.com | June 23, 2010
Source: Heritage Foundation
thestatedtruth.com | June 23, 2010
Source: Heritage Foundation
thestatedtruth.com | June 23, 2010
thestatedtruth.com | June 23, 2010
So now they tell us…….hasn’t this been ongoing for some time? By CHRISTINE HAUSER Published: June 23, 2010 The Federal Reserve’s policy-making arm said on Wednesday that it had decided to keep short-term interest rates near zero for “an extended period” in light of continuing threats to economic growth, including “developments abroad.” The announcement [...]
thestatedtruth.com | June 23, 2010
From Reuters: Interior Secretary Ken Salazar will offer testimony later on Wednesday on why the government will appeal that ruling and seek to renew the ban. The ban was imposed after a well operated by British oil company BP exploded on April 20 and began spewing crude into the sea. “We see clear evidence every [...]
thestatedtruth.com | June 23, 2010
Fannie Mae To Deny New Mortgages To Deadbeats 06/23/2010 According to Dow Jones, bankrupt GSE Fannie Mae, announced “it won’t back new mortgage loans for seven years for homeowners who walk away from their mortgages although they were able to pay or did not seek a workout in good faith with their lender.” “”We’re [...]
thestatedtruth.com | June 23, 2010
Magnitude 5.0 – ONTARIO-QUEBEC BORDER REGION, CANADA 2010 June 23 17:41:42 UTC Earthquake Details Magnitude 5.0 Date-Time Wednesday, June 23, 2010 at 17:41:42 UTC Wednesday, June 23, 2010 at 01:41:42 PM at epicenter Time of Earthquake in other Time Zones Location 45.862°N, 75.457°W Depth 18 km (11.2 miles) set by location [...]
thestatedtruth.com | June 23, 2010
Something Broke: Containment Cap Removed From BP Oil Leak After Problems Encountered; Large Increase In Spill Rate…… By Tyler Durden on 06/23/2010 The U.S. Coast Guard said there may be 2 deaths, but the oil flow is not completely unrestrcited, and some oil was being burned off on the surface. More at: www.zerohedge.com Click on image for [...]
thestatedtruth.com | June 23, 2010
As a general rule, what’s bad for Europe is usually bad for the U.S. eventually! Billionaire investor George Soros said continental European banks haven’t been “properly cleansed” after the credit crisis because they haven’t marked the value of their holdings to market prices. “The current crisis is more a banking crisis than a fiscal one,” [...]
thestatedtruth.com | June 22, 2010
I guess we could say CalPERS (California Public Employees’ Retirement System) is just plain unlucky….either that or they’re plain stupid. Maybe a little of both. After dropping a quarter of the value (and that’s being generous, it may be greater) of its $200-billion portfolio during the recession of 2008 and 2009, the country’s largest public pension fund is [...]
thestatedtruth.com | June 22, 2010
June 22, 2010 By Andrew Atkinson June 22 (Bloomberg) – British Chancellor of the Exchequer George Osborne increased the value-added tax rate to 20 percent from 17.5 percent in the first permanent change to the levy on sales of goods and services in almost two decades. “The years of debt and spending make this unavoidable,” [...]
thestatedtruth.com | June 22, 2010
This mention from Art Cashin, Cashin’s Comments from the floor of The New York Stock Exchange………. That Looming Weekend Cycle – We mentioned last week that there was a bit of a buzz around the floor about a cycle of some kind that was to kick in this coming weekend. We nosed around trying to get [...]
thestatedtruth.com | June 22, 2010
Submitted by Tyler Durden on 06/22/2010 President Obama and Secretary of Interior Ken Salazar, Secretary of Energy Steven Chu, and Defense Secretary Robert Gates were informed that BP would drill an unprecedented 35,000 feet well bore at the Macondo site off the coast of Louisiana. In September 2009, the Deepwater Horizon successfully sunk a well [...]
thestatedtruth.com | June 22, 2010
Jun 22, 2010 Reuters reports that United States District Judge for the Eastern District of Louisiana Martin Feldman on Tuesday ruled against the Obama administration’s 6-month moratorium on deepwater drilling in the wake of the .Deepwater Horizon explosion and ongoing gush of oil into the Gulf of Mexico…… To read more on this subject, click [...]
thestatedtruth.com | June 22, 2010
Germany and Russia Move Closer By George Friedman | June 22, 2010 German Foreign Minister Guido Westerwelle will brief French and Polish officials on a joint proposal for Russian-European “cooperation on security,” according to a statement from Westerwelle’s spokesman on Monday. The proposal emerged out of talks between German Chancellor Angela Merkel [...]
thestatedtruth.com | June 21, 2010
The problems for commercial real estate are deep and significant and have the potential of stifling any sort of recovery. Rather than looking at commercial real estate (CRE) as a reason for more stimulus or bailouts the question should examine why so many CRE locations are defaulting. Can this be a sign that demand for [...]
thestatedtruth.com | June 21, 2010
Gross overcrowding in one jail and no money to staff the other one By JOHN ADAMS The brand new, state-of-the-art Metropolitan Detention Center remains empty because the cash-strapped Los Angeles Police Department lacks the funds to staff it. The $70 million, 172,000-square-foot, five-floor structure jail is one of the largest of its kind, but [...]
thestatedtruth.com | June 20, 2010
By oilflorida, June 20th, 2010 Bill Gale, an engineer specializing in fires and explosions on oil rigs who is part of Bea’s Deepwater Horizon Study Group, said the 16-inch wide casing contains disks that are designed to relieve pressure if necessary. If any of those disks popped, it could create undesirable new avenues for [...]
thestatedtruth.com | June 20, 2010
By MARY WILLIAMS WALSH Posted June 20,2010 Many states are acknowledging this year that they have promised pensions they cannot afford and are cutting once-sacrosanct benefits, to appease taxpayers and attack budget deficits. Gov. Pat Quinn said an overhaul would save Illinois’s pension system $300 million in its first year. But the fund is weakened. [...]
thestatedtruth.com | June 20, 2010
Submitted by Tyler Durden on 06/19/2010 Zerohedge.com Update: It appears the Aircraft Carrier crossing the Suez is the USS Harry Truman, under the control of Herman “Herm” Shelanski, who is quoted by aish.com as saying “I understood that the strength of the United States is directly proportional to the safety of Israel.” Arabic newspaper Al-Quds [...]
thestatedtruth.com | June 20, 2010
BP document…. “If BOP and wellhead are removed and if we have incorrectly modeled the restrictions the rate could be as high as 100,000 barrels per day up the casing or 55,000 barrels per day up the annulus (low probability worst cases).” ….. “This number is in sharp contrast to BP’s initial claim [...]
thestatedtruth.com | June 20, 2010
Everyone should read this! Cumberland Advisors Oil Slickonomics Part 8 – Chemotherapy in the Gulf of Mexico June 20, 2010 “Plaquemines Parish President Billy Nungesser was out on Terrebone Bay at the break of dawn with his new industrial strength, compressed air-powered vac. Within 15 minutes, he said his crews had [...]
thestatedtruth.com | June 19, 2010
By JENN SAVEDGE Mother Nature Network (mnn.com) Five years ago, Sprint erected an 85-foot cell phone tower in the middle of California’s Vista Del Monte Elementary school. At the time, Sprint studied the tower’s structural safety and an initial power reading, but since then teachers and students have become increasingly concerned about the tower’s [...]
thestatedtruth.com | June 19, 2010
More ships are on the way…… Sometime in the next 10 days, the Helix Producer processing ship is due to arrive on the scene – and start pumping up 20,000 to 25,000 barrels (840,000 to 1.05 million gallons) of oil daily from yet another line connected to the Gulf of Mexico well’s broken blowout preventer. [...]
thestatedtruth.com | June 19, 2010
Can burning oil be ‘environmentally friendly’? At current crude-oil prices, that burn rate suggests that $700,000 worth of petroleum is going up in smoke every day. Admittedly, it’s not your usual “smoke.” BP is using in a smokeless atomizing burner that is supposed to be more environmentally friendly than the usual equipment. However, the EverGreen [...]
thestatedtruth.com | June 19, 2010
Greenpeace via Reuters A ship sprays water on a burner that disposes of oil and natural gas brought up from a leaking well in the Gulf of Mexico. The good news is that more than a million gallons of leaking oil are now being captured every day from the broken Gulf of Mexico well. The [...]
thestatedtruth.com | June 19, 2010
Gee, what happened to China?
thestatedtruth.com | June 19, 2010
thestatedtruth.com | June 18, 2010
By Jacob Greber June 17, 2010 Former U.S. Federal Reserve Chairman Alan Greenspan testifies at a hearing of the Financial Crisis Inquiry Commission in Washington. Former Federal Reserve Chairman Alan Greenspan said the U.S. may soon face higher borrowing costs on its swelling debt and called for a “tectonic shift” in fiscal policy to contain [...]
thestatedtruth.com | June 18, 2010
By Catherine Belton, Charles Clover and Courtney Weaver in St Petersburg Published: June 18 2010 Dmitry Medvedev, the Russian president, said Moscow was bidding to help lead efforts to build a new world economic order after the old system collapsed in the global financial crisis. Opening Russia’s annual economic forum in St Petersburg where hundreds [...]
thestatedtruth.com | June 18, 2010
From President Obama: Letter from the President to G-20 Leaders Our highest priority in Toronto must be to safeguard and strengthen the recovery. We worked exceptionally hard to restore growth; we cannot let it falter or lose strength now. This means that we should reaffirm our unity of purpose to provide the policy support necessary [...]
thestatedtruth.com | June 17, 2010
#1) Barack Obama has authorized the deployment of more than 17,000 National Guard members along the Gulf coast to be used “as needed” by state governors. So what are all of these National Guard troops going to be doing exactly? Are the troops going to be used to stop the oil or to control the [...]
thestatedtruth.com | June 17, 2010
By David Beckworth Jun 17, 2010 The topic du jour in many parts of the economics blogosphere is whether there will be a double-dip recession in the second half of 2010. Some folks like MacroAdvisors see absolutely no chance of a recession while others like David Rosenberg see a 80% probability of another recession. Other [...]
thestatedtruth.com | June 17, 2010
Submitted by George Washington 06/17/2010 → Washington’s Blog The Deepwater Horizon blew up on April 20th, and sank a couple of days later. BP has been criticized for failing to report on the seriousness of the blow out for several weeks. However, as a whistleblower previously told 60 Minutes, there was an accident [...]
thestatedtruth.com | June 17, 2010
Watching for Watchers June 17, 2010 By Scott Stewart In last week’s Security Weekly we discussed how situational awareness is a mindset that can — and should — be practiced by everyone. We also described the different levels of situational awareness and discussed which level is appropriate for different sorts of situations. And we noted [...]
thestatedtruth.com | June 17, 2010
The Dow Jones Industrial Average added five points yesterday to close at 10,409 – almost exactly where it closed eleven years ago. Amidst giddy fanfare and high fives, the Dow closed above 10,000 for the very first time on March 29, 1999. One month later, amidst even giddier fanfare and high fives, [...]
thestatedtruth.com | June 16, 2010
thestatedtruth.com | June 16, 2010
thestatedtruth.com | June 16, 2010
thestatedtruth.com | June 16, 2010
Bloomberg — Matthew Simmons, founder of the Ocean Energy Institute, talks with Bloomberg’s Lori Rothman about BP Plc’s oil leak in the Gulf of Mexico and his view that the use of a “small-bore nuclear device” is now the “only option” to stop the flow of oil. Listen to this news interview……unbelievable. Click below: http://video.godlikeproductions.com/video/Simmons_Says_Nuclear_Device_Only_Option_to_Stop_Oil_Flow
thestatedtruth.com | June 16, 2010
From Jeff Rense.com ……………… The magnitude and impact of this disaster will eclipse anything we have known in our life times if the worst or even near worst happens… Contrary to what most of us would think as logical to stop the oil mess, actually opening up the gushing well and making it gush more [...]
thestatedtruth.com | June 16, 2010
So, how far behind is the U.S. …………Europe faces almost inevitable recession next year and years of stagnation as policymakers’ response to the euro zone crisis causes a downward spiral, billionaire U.S. investor George Soros said on Tuesday and “The commercial paper market, for instance, in America is now refusing to lend to European banks [...]
thestatedtruth.com | June 16, 2010
So much for PEAK oil, we scooped this days ago, now the U.S. government is raising its numbers, it may well be the largest oil well in the history of the world, who would have thunk it! “This is a phenomenal formation that they drilled into.” said Ian MacDonald, an oceanographer at Florida State University….Exceptional Gulf of Mexico [...]
thestatedtruth.com | June 16, 2010
Commentary by Joe Mysak June 16 (Bloomberg) — The city of San Diego should consider Chapter 9 municipal bankruptcy to help it reduce fringe benefits, pension and health obligations. That’s one of the suggestions made by the San Diego County Grand Jury, which does the normal duties of recommending indictments as well as reporting [...]
thestatedtruth.com | June 16, 2010
By James Picerno Jun 16, 2010 The markets told us that there were problems in May, and as the economic data rolls in there’s no reason to think otherwise. Today’s numbers on housing starts and new building permits certainly suggest that the economic recovery struggled last month. The question is whether the change is temporary, [...]
thestatedtruth.com | June 16, 2010
Jun 16, 2010 Oil giant BP (BP) said Wednesday it agreed to set aside $20 billion as part of its commitments to compensate victims of the Gulf oil spill. BP will initially make payments of $3 billion in the 3rd’Q and $2 billion in the 4th’Q. These will be followed by a payment of $1.25 [...]