thestatedtruth.com | November 13, 2010
This is peanuts compared to what the OTC derivative credit default swaps are going to cost. According to the National Conference of State Legislatures, U.S. cities saw their general fund revenue fall the most since at least 1986 in the budget year that ended June 30, according to the National League of Cities.   States now face […]
Category: Commentary, Economy, Finance, Interest Rates, Bonds, National News, Real Estate, Wall Street |
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Tags: Credit Swap Definition, derivatives, otc swaps
thestatedtruth.com | November 13, 2010
It’s the rainy season in California…..Schwarzenegger Declares Emergency, Calls Special Budget Session November 12, 2010 By Michael B. Marois Nov. 12 (Bloomberg) — California Governor Arnold Schwarzenegger, citing a $25.4 billion budget gap over the next 19 months, declared a fiscal emergency and called lawmakers to a special session next month to begin dealing with […]
Category: Commentary, Economy, Finance, Interest Rates, Bonds, National News, Wall Street, World News |
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Tags: california budget busted, California fiscal emergency
thestatedtruth.com | November 12, 2010
This is called kicking the can down the road!   “You can tell from the FSB statements that there’s been a huge amount of controversy,†said Barbara Matthews,  managing director of BCM International Regulatory Analytics LLC in Washington. “Some of these issues have been on the international agenda for decades, and still there’s no end in sight […]
Category: Commentary, Economy, Finance, National News, Wall Street, World News |
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Tags: Bank lobbying, Group of 20
thestatedtruth.com | November 12, 2010
Three federally funded unemployment programs are set to end soon! The programs are the additional compensation pay program, the emergency pay program, and the extended benefits program. Unless lawmakers intervene with another emergency package, the federal benefits will begin to expire starting Nov. 30 through Dec. 11.
Category: Commentary, Economy, National News |
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Tags: federal benefits programs, losing benefits
thestatedtruth.com | November 12, 2010
The trouble continues at the U.S. Postal Service. It lost a record $8.5 billion, and said almost two thirds of the deficit, or $5.5 billion, covered health-benefit costs for future retirees. Hey, here’s a novel idea (not)…. let’s raise the cost of postage stamps every year, that way the postal workers can keep their retirement benefits. The U.S. […]
Category: Economy, National News, Pensions and Retirement, Wall Street |
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Tags: postal service, U.S. postal service
thestatedtruth.com | November 10, 2010
ICI Data shows the 27th consecutive week  of domestic fund outflows, commencing with the May flash crash, and resulting in $85 billion in retail outflow YTD. www.zerohedge.com
Category: Commentary, National News, Wall Street |
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thestatedtruth.com | November 10, 2010
This is unbelievable….beyond belief……..California’s deficit over the next year and half has gone vertical soaring to $25.4 billion. California faces a far-larger budget shortfall than state officials were projecting only weeks ago. The deficit over the next year and half has soared to $25.4 billion, the state’s chief budget analyst said on Wednesday. The startling figure […]
Category: Commentary, Economy, Finance, National News, Wall Street |
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Tags: California, California budget shortfall
thestatedtruth.com | November 10, 2010
A presidential commission’s leaders proposed a $3.8 trillion deficit-cutting plan that would trim Social Security and Medicare, reduce income-tax rates and eliminate tax breaks including the mortgage-interest deduction. November 10, 2010 Bloomberg Wiping out all tax breaks, including the home mortgage deduction, while lowering tax rates would save $100 billion a year according to Erskine Bowles, co-chairman […]
Category: Commentary, Economy, Finance, National News, Wall Street, World News |
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Tags: mortgage tax deduction, tax breaks
thestatedtruth.com | November 10, 2010
A major point in the long weather cycle occurs in 2011…….Demand is soaring and crop yields are shrinking. This alone will send agricultural prices higher. Now add aggressive currency devaluation into the mix and we can better understand the direction of capital flows. The phrase budget pain will soon redefine the grocery checkout experience. From the FT: (FT) — The spectre […]
Category: Commentary, Commodities, Economy, National News, Wall Street, Weather, World News |
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Tags: crop shortages, weather, weather cycle
thestatedtruth.com | November 9, 2010
What is Quantitative easing….and what is Monetization of debt? Quantitative easing is the monetization of debt. It can take many forms from guaranteeing other obligations to outright purchase of Treasury instruments. The one trillion dollar Euro Rescue Program is without any doubt as big a QE program as the U.S. Ben Bernanke plan. The following […]
Category: Wall Street |
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Tags: monetizing debt, quantitative easing
thestatedtruth.com | November 9, 2010
These endless wars will bankrupt America eventully! Tuesday, November 09, 2010 By Edwin Mora (CNSNews.com) – U.S. Lt. Gen. William Caldwell, the commander of the NATO training mission in Afghanistan, indicated today that U.S. forces will still be fighting in Afghanistan in 2014, with current plans aiming to have “Afghan security forces in the lead” and U.S. […]
Category: Commentary, Economy, National News, National Security |
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Tags: Afganistan
thestatedtruth.com | November 9, 2010
Deficits such as these are not limited to California. Illinois, Wisconsin, Texas, New York, New Jersey, and/or nearly ever State in the Union have drained their unemployment insurance funds and must start paying the federal government interest on the borrowed money in 2011. The markets already know that there’s no way the States will have […]
Category: Commentary, Economy, Finance, National News |
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Tags: state unemployment, State Unemployment Funds
thestatedtruth.com | November 9, 2010
FOR IMMEDIATE RELEASEÂ November 9, 2010 The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a final rule to implement section 343 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Section 343 provides temporary unlimited coverage for noninterest-bearing transaction accounts. This separate coverage will become effective on […]
Category: Commentary, Economy, Finance, Interest Rates, Bonds, National News, Wall Street |
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Tags: FDIC, TUDI Temorary Unlimited Deposit Insurance
thestatedtruth.com | November 9, 2010
There is a school of thought that says many markets are rigged….gasp. When we see results such as these for the big Banks and Wall Street firms, it only serves to fan those fires, and in the process create more doubt about the fairness in the “new normal” markets! Bank of America Corp. and J.P. Morgan Chase & Co.  the two […]
Category: Commentary, National News, Wall Street |
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Tags: perfect trading records
thestatedtruth.com | November 8, 2010
Huh?  Where has this guy been for the past two years?  According to The Wall Street Journal: ‘President Barack Obama warned in an interview on CBS’s 60 Minutes about the danger of a “new normal†taking hold of the economy – an environment in which businesses become accustomed to fewer employees and the U.S. […]
Category: Commentary, Economy, National News |
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Tags: behind the curve, president Obama
thestatedtruth.com | November 8, 2010
Germany:  U.S. debt and interest policy generally “doesn’t add up” and the U.S. model is in “deep crisisâ€. . Hmm, so what happens if this U.S. policy fails…….inquiring minds want to know?    German Finance Minister, Wolfgang Schuble, offered some withering criticism of the Fed’s move and U.S. economics. Here’s a bit from the […]
Category: Commentary, Economy, Finance, National News, Wall Street, World News |
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Tags: Germany voices opinion, U.S. economic policy
thestatedtruth.com | November 8, 2010
Oil Slickonomics-Part 13-Idle Iron November 8, 2010 In our recent comment entitled Oil Slickonomics Part 12 we discussed how the federal government is implementing a policy that functions as a de facto moratorium, even though the Obama administration has formally lifted the de jure oil drilling moratorium. We appreciate the readers who responded, and we […]
Category: Commentary, Commodities, Economy, National News, Oil and Nat Gas, Wall Street, World News |
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thestatedtruth.com | November 8, 2010
To get a visual idea of the complexity surrounding the new health-care requirements, you can peruse the following chart prepared by the Joint Economic Congressional Committee, which outlines the bureaucratic Frankenstein that is being created. I’m printing the chart in a size that is too small to read here, just to give you the idea. […]
Category: Charts and Graphs, Commentary, Economy, Healthcare and Science, National News, World News |
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Tags: government healthcare, Obama healthcare
thestatedtruth.com | November 7, 2010
Oil Slickonomics-Part 12-An Update November 4, 2010 We will start this note with two links. The first is to the October 2010 edition of the National Geographic. It is devoted to the Gulf oil spill, with a comprehensive report that includes excellent maps and photos. Those who lean green will find support in this assemblage of […]
Category: Commentary, Commodities, Economy, National News, Oil and Nat Gas, Wall Street |
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thestatedtruth.com | November 6, 2010
Here are some shocking numbers…..Personal incomes are not going up. In fact, the income data is downright scary for the U.S.   The largest group of wage earners – a massive 24 million or 16% of the total wage group  – made between 1 red cent and $4,999.99. On average they earned $2,016.  The average wage for […]
Category: National News, News Letters, Real Estate, Wall Street, World News |
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Tags: quantative easing II
thestatedtruth.com | November 6, 2010
MOUNT MERAPI, Indonesia…….A surge of searing gas raced down the sides of Mount Merapi at highway speeds Friday, setting houses and trees ablaze and blackening the bodies of those caught in its path. Merapi’s latest round of eruptions began on Oct. 26, followed by more than a dozen other powerful blasts and thousands of tremors, and […]
Category: Commentary, National News, Weather, World News |
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Tags: volcano blows in indonesia, volcano eruption
thestatedtruth.com | November 6, 2010
Mark Twain Said That History Doesn’t Repeat Itself, It Just Rhymes. The events we are experiencing today look a lot like the same experiences that we had in the 1930s. There are lessons to be taken away from the 1930s that are useful in evaluating both policy and markets today. The lesson that we learned […]
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thestatedtruth.com | November 5, 2010
Labor force participation has now dropped to the lowest rate it has been since 1984, at 64.5%.
Category: Commentary, Economy, National News |
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Tags: labor force, labor force participation
thestatedtruth.com | November 5, 2010
The WSJ Reports……. By population, Washington, D.C. had the largest share of residents receiving food stamps: More than a fifth, 21.1%, of its residents collected assistance in August. Washington was followed by Mississippi, where 20.1% of residents received food stamps, and Tennessee, where 20% tapped into the government nutrition program. Idaho posted the largest jump […]
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Tags: food stamps, food stamps hits new record
thestatedtruth.com | November 5, 2010
Interestingly…..Credit-card debt declined for the 25th straight month, while non-revolving loans rose by the most since August 2007. Consumer borrowing in the U.S. unexpectedly increased in September by the most in two years, and saw a surge in non-revolving credit such as college loans and auto financing. Credit rose $2.1 billion and was more then estimated after […]
Category: Commentary, Economy, National News, Wall Street |
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Tags: consumer borrowing, consumer credit, Economy
thestatedtruth.com | November 4, 2010
That flushing sound you hear is just more money down the toilet! Two weeks ago, the FHFA, using Moody’s assumptions and modelling, said that a worst case scenario for Fannie and Freddie could result in total costs to taxpayers of $363 billion, an incremental $220 billion to the $148 billion already spent to keep the […]
Category: Commentary, Economy, Finance, National News, Real Estate, Wall Street |
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Tags: fannie mae, FHFA Moody's assumptions, freddie mac
thestatedtruth.com | November 4, 2010
The so-called “rare earths” would not be rare earths…unless they were rare. “Basically, rare earths are exotic elements that are critical to the future of high tech, clean energy, Big Science and – oh by the way – national defense,” explains Byron King, editor of Outstanding Investments. “The list includes 17 elements like terbium, ytterbium, […]
Category: Commentary, Commodities, Economy, National News, National Security, Wall Street |
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Tags: rare earth metals
thestatedtruth.com | November 3, 2010
Given the high market expectations, the US Federal Reserve had no choice but to announce a second tranche of quantitative easing, nicknamed QE2. But the measure is an inevitably blunt instrument for the difficult task of restoring growth and generating jobs. The benefits accruing to America come with burdens for other countries, and both could […]
Category: Commentary, Economy, Finance, Interest Rates, Bonds, National News, Personal Net Worth, Real Estate, Wall Street, World News |
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Tags: El-Erian, PIMCO
thestatedtruth.com | November 3, 2010
One would think that we’re getting closer to an inflow week!! ICI Data for the week ended October 27th  registered a $2.9 billion outflow from domestic equity mutual funds, making 26 straight weeks, or half a year, of outflows. This brings the total to $84 billion. www.zerohedge.com
Category: Charts and Graphs, Commentary, Economy, National News, Wall Street |
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Tags: equity fund outflows, mutual fund outflows
thestatedtruth.com | November 2, 2010
Iceland’s volcano gods may be about to make the holiday travel season very challenging. The newest action takes us to the heretofore unknown Grimsvotn. AP reports “torrents of water are pouring from a glacier that sits atop Iceland’s most active volcano, an indication that the mountain is growing hotter and may be about to erupt, scientists said […]
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Tags: volcano activity
thestatedtruth.com | November 2, 2010
After years of dishing trash, folly and misfortune, The National Enquirer’s publisher has fallen on hard times.  American Media Inc., a privately held company said today that it plans to seek federal bankruptcy protection in the next two weeks. American Media’s publications include The National Enquirer, Star, Shape, Men’s Fitness and Fit Pregnancy.
Category: Commentary, National News, Tid Bits |
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Tags: bankruptcy, the national enquirer
thestatedtruth.com | November 1, 2010
The new normal is not pleasant, and nobody wants to see this!  The overall cost for the Indiana security is $1 million, paid for with federal funds designated for administration of the unemployment system. Indiana unemployment offices are starting to add armed security guards. The official explanation: “Armed security guards will be on hand at 36 […]
Category: Commentary, Economy, National News, National Security, Wall Street |
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Tags: job benifits, unemployment
