Amazon Terminates Deal With 25,000 California Websites

| June 30, 2011

Amazon just escalated a stink with California over Internet taxes….and emailed the termination of its affiliate advertising program to 25,000 websites.  Bad seats…hey buddy, front row behind a pole!! Gov. Jerry Brown has signed into law California’s tax on Internet sales through affiliate advertising which will immediately cut small-business website revenue 20% to 30%, experts say. […]

In An Exclusive Interview With ABC, Bill Clinton Proposes Debt Impasse Deal

| June 30, 2011

Agree…..but the economy may not improve for years….we’re in the new normal, best to get used to it! Former President Bill Clinton sees a possible way past the bipartisan impasse over raising the debt limit: agree to cut spending AND raise taxes, but do neither until later, after the economy improves. “If they [the Republicans] […]

The Inside Scoop…Downstairs, In The Fed’s Vault Are $1 Billion Worth Of Freshly Minted Dollar Coins

| June 29, 2011

                                      Manganese Brass Dollar Coins                                                    Picture from Wikipedia As these bronze looking Manganese brass dollar coins  enter circulation, they soon start looking greenish and of course, ugly.  So the question is… why would anyone want them in one or more pockets? In the basement of a Baltimore vault the size of a soccer field, 1 billion dollar coins are […]

Bank For International Settlements Warns Of Higher Interest Rates

| June 28, 2011

Interest rates are at record 100 year lows, but even so, the world is sporting an unusually slow learning curve!  Logically speaking, if interest rates were to climb,  it would be “lights out, game over” and the mother of all depressions.  Something to think about since no one else seems to be interested. BIS is warning of higher rates […]

Job Growth, Or… Lack Of Growth As The Case May Be

| June 28, 2011

This is what we have to look forward to……2012 is supposed to be worse then 2011 for government, state and local jobs.  That’s why this is going to be called the LOST decade! In March 2010, the U.S. economy finally began to add jobs again. Every month since then, private sector employment has grown. Yet almost every month […]

Pimco Sees Rising Inflation

| June 28, 2011

From MarketWatch.com …….Yep, PIMCO, the same one that Bill Gross founded.  So PIMCO says we have inflation, Jim Rogers says we have inflation and Lunch Pale Jack says we got inflation…but the U.S. Federal Reserve says pay attention everyone…the kind of inflation you all are looking at doesn’t count!  Ok, that explains it! – Inflation set […]

The Governments Hand…In Everything

| June 27, 2011

If not for the massive government gift giving (stimulus), we would be in a depression. Report: Government to pass private sector as primary lender in U.S. According to Investor’s Business Daily, citing Federal Reserve data, the U.S. government, perhaps “as early as this quarter” is likely to “displace the private sector as the biggest source […]

Dominoes

| June 27, 2011

Remember the old saying, you’re only as strong as the weakest link….or links which is the case more often now days.  Looks like the dominoes in Ireland are falling.  They’re not alone. “Ireland is screwed,” said a local expert. “Our property developers are broke. And they owe a lot of money to the banks. So they’re broke too. […]

Los Angeles Dodgers File for Bankruptcy

| June 27, 2011

There she blows, it was just a matter of time…..are there now any doubts that Frank McCourt has a nose as long as Pinocchio’s.  Worth as much as 1 Billion dollars……dream on, first of all Frank McCourt was the only bidder when he bought the Dodgers back in 2004 according to the commissioner…..and he paid $430 million […]

Moody’s Warns On Greece….Next Up Could Be Spain

| June 27, 2011

Greece is a goner….it sounds like a run on the Greek banks are just around the corner….the ECU needs to move on to bigger fish, like Spain. Today, as part of its Weekly Credit Outlook, Moody’s issued for the first time a very stark warning that should the rate of attrition in domestic deposits (and to […]

Soros: “Financial System Remains Extremely Vulnerable… We Are On The Verge Of An Economic Collapse”

| June 27, 2011

What George Soros really means is that they’re about to kick the can down the road again and save the big banks of the world, again….at least until bonus time! George Soros, Chairman of Soros Fund Management and famous for breaking the Bank of England in 1992, has warned that “we are on the verge of […]

The Inability Of Nations And Consumers To Get Out of Debt, Weighs On Global Economy, And Will For A Long Time

| June 26, 2011

From The Wall Street Journal….. Today, U.S. consumers have more mortgage and credit-card debt than they did five years ago.  Given the difficulties of paying down debt, “you have to get comfortable with the idea that it’s going to take a long time for the markets to adjust and for the economy to get back on […]

Interesting Tid Bits About Water

| June 26, 2011

Drinking water at certain times of the day are thought to maximize its effectiveness on the body, we will review some of these many reasons below…… 2 glasses of water after waking up – could help activate internal organs 1 glass of water 30 minutes before a meal – could help digestion 1 glass of water before taking a bath – […]

I-Tulip’s Eric Janszen Explains Things By Review Of Economic Charts

| June 24, 2011

From Eric Janszen of I-Tulip fame…..Eric thinks this is how things are shaping up.  So, we can expect to see the years 2013-2014 look pretty darn negative! Then we’ll have to see. Can we escape the moderate but persistent output gap trap we are in today? Remember, we need at least three years of 4% plus GDP growth […]

If You Are A Public Worker, The Rules Are About To Change!

| June 23, 2011

This is a lead bowling ball going down hill….the first pin to be hit is New Jersey!  And even more interesting, Democrats control both houses of the Legislature…. and union membership is among the highest in the country.  Go figure! From The New York Times…… TRENTON — New Jersey lawmakers on Thursday approved a broad rollback […]

Real Estate Existing Home Sales Continue To Fall

| June 22, 2011

Considering that we’re in the summer buying season, this is bad news….. Purchases of existing homes fell 3.8% in May from the prior month to an annual rate of 4.81 million homes. At that pace, sales this year would drop below last year’s 13-year low of 4.91 million. At the same time, the price of […]

Nuclear Power Plant Updates

| June 19, 2011

From Washington’s Blog………….. WOWT Reports: [Fort Calhoun Nuclear Power Plant’s chief nuclear officer, Dave Bannister] said for the plant to get to a disaster level, floodwater would have to rise three and a half feet above where it stands now. The Kansas City Star Notes:  The endless complexities have made prediction a tough task, said […]

Retirements Just Aren’t The Same Anymore!

| June 18, 2011

Retirements are changing more then anyone thought possible. From… The Wall Street Journal Several factors are driving the trend toward older people earning and working less, from the sour economy to downsizing and the fact that employers have been moved to more “performance-based” pay, which often translates into smaller pay increases, as well as pay […]

Mayors See Little Recovery Amid Cutbacks

| June 18, 2011

So, what does the federal government say about all of this?…….Uh, we never promised anyone a Rose Garden! Bloomberg: Little Rock, Arkansas, has stopped replacing aging police cars. Mesa, Arizona, is losing $5 million a year from thousands of vacant homes that aren’t paying utility bills. Providence, Rhode Island, closed schools, fired teachers and may cut […]

What Federal Tax Revenue Is Saying About the Economy

| June 18, 2011

There is good news here, and not so good news……..in a nutshell, the economy is flat and not growing but not collapsing either.  That sort of sums it up, the good and the bad! By Lee Adler Month to date Federal withholding taxes as of June 15 were down 5.5% from last year, negating the monthly […]

It’s Murphy’s Law….Usually When A Chart Goes Off The Top Of A Page, Things Soon After Reverse The Other Way…

| June 15, 2011

The gap between spending and revenues has never been larger! The American consumer is tapped.  Just look at the outstanding debt count: -over $10 trillion in mortgage debt -$1 trillion in student loan debt -over $750 billion in credit card debt We also have billions more in automotive debt.  This is simply unsustainable and we […]

The Average Jack And Jill See Little Benefit From Huge Government Stimulus Programs

| June 15, 2011

It’s a sign of the times and also why generations of workers are screwed for as far as the eye can see….main street Jack and Jill see little if any government stimulus drift down to him or her.  It’s the sad but real truth.  The better question though is ….How do we fix this?  The common answer from the […]

So Class…Today We Will Review The World Gold Holdings And Production Rankings

| June 14, 2011

China and Russia are moving up on the Gold holdings chart… but the IMF is selling everything that’s not nailed down.  Otherwise it all stays pretty much the same.  The Gold production rankings are as follows and listed in order of production……China, Australia, South Africa,USA, Russia and Peru. 

World Oil Reserves….

| June 14, 2011

Interesting comments from The Inger Letter….

Disney Hikes Prices 5.3% to 8.7%

| June 13, 2011

The price of everything is going up….only a dumb bell doesn’t believe we have inflation!  And the biggest dumb bell of them all….uh, who is that over there in line, Uncle Sammy….is that you? As the summer tourist season begins, the Walt Disney Co. announced an increase in ticket prices at Walt Disney World Resort in Orlando […]

Greece Bonds Are Now Considered Junk With Lowest Credit Rating By S&P Of CCC

| June 13, 2011

Greece goes down, just a matter of when! The Greece bonds are now considered junk by rating standards. The big question is does Greece take down the whole Euro complex? Greece was branded with the world’s lowest credit rating by Standard & Poor’s, which said the nation is “increasingly likely” to face a debt restructuring and the […]

The Hundred Year Drought In Texas

| June 13, 2011

We’ve just had 100 year floods, now it looks like we have the 100 year drought………About 94 percent of Texas was in a state of severe, extreme or exceptional drought as of June 7, according to the U.S. Drought Monitor compiled by the U.S. Agriculture Department and the National Drought Mitigation Center. The October-through-May period was […]

Average Household Debt Needs To Drop $26,172 Just To Get Back To 1990’s Levels….

| June 11, 2011

Fat chance of this debt ever getting cut in a timely manor other then by default!  Debt is the reason that the world goes into another recession or controlled depression at some point!  Just a matter of time. $26,172 isn’t some magic number, it’s the amount of debt the average U.S. household would need to cut to […]

2,600 Posts At The Stated Truth………

| June 11, 2011

And that’s saying a lot!

Do Household Real Estate Assets Impact How Consumers Think And Spend

| June 10, 2011

Yep!  Makes sense, doesn’t it? www.ingerletter.com

So Easy Even A Caveman Can Do It!

| June 9, 2011

About a year ago Zero Hedge posted an article…..”Record Number Of Americans Using Retirement Funds As Source Of Immediate Cash” after a report by Fidelity uncovered that “plan participants with loans outstanding against their 401(k) accounts had reached 22 percent versus 20 percent a year earlier.”  Well guess what?  The new number is now 30% […]

U.S. Household Worth Increases By $943 Billion…Has Recouped 53% Of Losses Off Highs In 2007

| June 9, 2011

Household wealth in the U.S. climbed by $943 billion in the first quarter of 2011 according to the Federal Reserve’s flow of funds report out of Washington,  as rising stock market share prices outstripped declines in home values.  From the peak in June 2007 to the low in 2009 the losses from all asset groups combined were -24.9% of assets.  As of […]

Bill Gross Of PIMCO: U.S. Policy Prompts Dollar Questions

| June 8, 2011

Bill Gross has been on a roll talking about this……….Governments such as the U.S. are intentionally keeping interest rates artificially low to help reduce record debt levels, setting up investors up for a “pocket picking.” The U.S. has done little to reduce the size of the excess liabilities accumulated, Pimco wrote in what it called […]

How Big Is It?

| June 7, 2011

You won’t hear this from the government…..the gap between spending commitments and revenue last year equals more than one-third of the nation’s gross domestic product. From USA Today: The federal government’s financial condition deteriorated rapidly last year, far beyond the $1.5 trillion in new debt taken on to finance the budget deficit, a USA TODAY […]

College Educated And Broke

| June 6, 2011

Is an education really worth the cost?  In many cases the answer is YES, but in many other cases the answer is NO, and especially involving  “for profit trade schools”! The cost of education is becoming onerous and student loans are littered with financial landmines.  Many are given to students to attend for-profit schools that will yield very […]

Only 5 U.S. Triple A (AAA) Ranked Companies Remain….Can You Name Them?

| June 6, 2011

So, what’s  in  a AAA ranking?  Triple AAA rankings are the highest mark given to companies considered to be the lowest risk investments.  It means “Prime Maximum Safety” and they are assigned by S&P and Fitch.  Rankings from other rating agencies use a slightly different labeling system, such as Aaa used by Moodys but it represents basically the same thing.  In the early 1970s, about 60 […]

Getting Older And Spending Less

| June 5, 2011

What are the two things about getting older that stand out on the chart below…….Yep, health care costs and health insurance lead the way in cost inflation for retirement age people.  The  comparison is to when they were ten years younger…..gasoline is in third place and drugs are fourth.  Nothing else is even close in terms of cost […]

Household Earnings Data Breakdown

| June 4, 2011

Here we go with a summary of earnings details per household as of May 2010 (it hasn’t changed much since). We repeat….we’re talking earnings details in this missive not wealth or net worth. 40% of US households make below $36,000 60% make below $57,000 80% make below $91,750 95% making below $165k 98% making less than $250,000 […]

The Global Wealth Pyramid

| June 4, 2011

This is the global wealth pyramid……in U.S. dollars.  Basically only 8% of the WORLD population has $100,000 dollars or more of net worth!  Put another way, 92% of the world population has less then $100,000 in total wealth. 

China Has Divested 97 Percent Of Its U.S. Treasury Bill Holdings

| June 3, 2011

Hmm….So whom might we ask, bought all this crap?  How about the U.S. Federal Reserve…it’s as good a guess as any!  And most people probably didn’t think (the) markets were rigged….shame on them! China has dropped 97 percent of its holdings in U.S. Treasury bills, decreasing its ownership of the short-term U.S. government securities from a peak of $210.4 billion in May 2009 to […]

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