thestatedtruth.com | April 3, 2012
Nurses rank highest, and members of Congress and Lobbyists rank lowest along with Car Salesmen, for honesty and ethics. If you’re surprised, raise your hand! Nope, I don’t see any hands, just as I thought.
thestatedtruth.com | April 2, 2012
Foodstamp usage for January is virtually unchanged at 46.5 million recipients. The actual number of recipients declined by a whisper, while the number of households receiving some sort of benefit increased to a new record of 22.2 million. www.zerohedge.com
thestatedtruth.com | March 30, 2012
So, this is how things looked at the top of the real estate and stock market….how do you think they look now? We’re thinking not any better for the average person.
thestatedtruth.com | March 25, 2012
What Have We Learned… in 2,067 Years? Umm…..Evidently Nothing! “The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living […]
thestatedtruth.com | March 22, 2012
The climb of student loan debt is simply unbelievable in the economic picture of things……it truely is the gift that keeps on taking! U.S. student-loan debt reached the $1 trillion mark, as young borrowers struggle to keep up with soaring tuition costs, according to the initial findings of a government study. The figure, which is higher […]
thestatedtruth.com | March 21, 2012
Not so good for mortgages…the Average 30 year fixed rate soared to 4.19% from 4.06% last week, while the refi percent of loans dropped to 73.4% – the lowest since July 2011. The latest MBA Mortgage Application data was just released and it was ugly. The broad Mortgage Application index fell by 7.4% in the week ending March […]
thestatedtruth.com | March 20, 2012
From the floor of The New York Stock Exchange, Art Cashin asks, who got the new jobs? The King Report’s assertion is that without seasonal adjustment, 2012 payroll numbers have actually fallen 1.8 million jobs instead of a gain as the government says (based on seasonal adjustments)…this is stunning. And, making matters even worse, the Weekly Leading Indicator is now […]
thestatedtruth.com | March 19, 2012
We want the red line to be below the black one…or we’re in trouble. But as everyone can see, the red line looks like a bean stalk and is growing to the sky!
thestatedtruth.com | March 19, 2012
Spend, spend spend…… The Federal Reserve Flow of Funds Report, issued two weeks ago, reveals the extent of the average mans plight : Forty percent of all credit card users do not pay-off their credit card every month and carry an average balance of $16,000 at an average interest rate of 15%. Total U.S. credit market […]
thestatedtruth.com | March 18, 2012
Just a friendly reminder…Greece continued to say everything was fine, they said it over and over… until one day not so long later, they admited that it wasn’t. The next thing you know Greek riots break out because Greece is forced to go on a hard austerity plan. Now we see Portugal in the same sinking boat. We’ve been warned. The head and co founder […]
thestatedtruth.com | March 13, 2012
Hot dogs at Wrigley Field in March, unbelievable!…The forecast high on Wednesday in Chicago is 78 degrees, which would set a record in a city where weather records go back nearly to the Civil War…and Boston reached the low 70s Monday, topping the previous record of 69 degrees set in 1902. Even the northern states are setting […]
thestatedtruth.com | March 12, 2012
U.S. Budget Deficits – A picture is worth um, $580 billion, here’s why… in the first 5 months of the fiscal year, the U.S. has racked up $580 billion in deficits,
thestatedtruth.com | March 12, 2012
We’re on the right track….but have a long way to go. U.S. crude oil production came in at 5.6 million barrels a day for 2011 vs. 5.48 million barrels a day in 2010. It’s the highest U.S. oil production since 2003. And… The U.S. has been the world’s largest producer of natural gas since 2009, the report says. […]
thestatedtruth.com | March 10, 2012
Stress and fear in the system is receding….for the time being. www.ingerletter.com
thestatedtruth.com | March 7, 2012
They got to be kidding….nope, consumer credit rose $17.8 billion in the latest monthly data, on expectations of $10.5 while non-revolving credit, i.e., auto and mostly student debt rose $20.723 billion and had the highest sequential jump in this category ever! Yes EVER! At the same time…after tax incomes fell for the second time in three months after adjustments, according […]
thestatedtruth.com | March 6, 2012
Bonus time…or maybe not! Bankers and Wall Street listen up…The O in cheerios stands for zero bonus! Capice! www.zerohedge.com
thestatedtruth.com | March 5, 2012
Bad seats, hey buddy……especially if you have a student loan! We have said repeatedly that this was going to happen, and rest assured we feel it will get worse. Lots worse! 10 percent of the outstanding loan balance shows delinquent in the third quarter of 2011, and as many as 47 percent of student-loan borrowers “appear to be […]
thestatedtruth.com | March 3, 2012
Here we are with bad demographics again, add to that another broke social security system, and guess what island are we standing on. Yep, it’s Japan! Now the Japanese government has had an epiphany, and all of a sudden seeks to save a broken down social security system, and “rein in soaring welfare costs”. Question: But uh, isn’t that a problem worldwide? Yes it is. So […]
thestatedtruth.com | March 2, 2012
As of December, per SNAP (Supplemental Nutrition Assistance Program) this number just hit another record high of 46.5 million, an increase of 384,000 in one month, an increase of 2.4 million for the year 2011 (about as many as have dropped out of the Labor force, hmmmm), and 14.3 million since Obama took office. The food stamp program, […]
thestatedtruth.com | March 2, 2012
Here we go….it feels like we could be at the peak of the good feeling time for this economic rebound. Things are getting hot everywhere we look. People are feeling better and the talk is that things are headed back to the good old times, which many consider to be normal. But gasoline prices are sky high, and prices are rising on […]
thestatedtruth.com | March 1, 2012
The food stamp program, part of the Department of Agriculture, is pleased to be distributing the greatest amount of food stamps ever. Meanwhile, the Park Service, also part of the Department of Agriculture, asks us “Please Don’t Feed the Animals” because the animals may grow dependent and not learn to take care of themselves.
thestatedtruth.com | March 1, 2012
Housing Tid Bits….. The latest quarterly report out of CoreLogic is full of insights about the state of U.S. housing. Key among them is that “negative equity and near-negative equity mortgages accounted for 27.8 percent of all residential properties with a mortgage nationwide in the fourth quarter, up from 27.1 in the previous quarter. Nationally, the total […]
thestatedtruth.com | February 29, 2012
So, how do we do it…deleverage we mean? Uh, well, we need to spend less on cars and gas, and food, and housing and…healthcare, and buy less other things, and save more – oh, sorry about that last one, nothing left to save….. From Today’s Bloomberg Brief: The slow pace of deleveraging will continue to weigh on growth over […]
thestatedtruth.com | February 28, 2012
Here’s the scoop on gasoline (these charts go back to 1991)….prices are moving to the upside rapidly while demand is falling. Hmm Oh, and it’s official… gas prices have set an all time record for the month of February.
thestatedtruth.com | February 28, 2012
Bill Gross talking here…It’s the new normal, and a sign of the times as bank accounts and money market accounts basically yield nothing…and who gets the smelly end of the stick, yep… main street is the one taking it up the wazoo, yet again! Chart 1 shows that since 1981, which marks the beginning of the secular […]
thestatedtruth.com | February 28, 2012
There is no housing recovery as of yet….that according to Case Shiller. The Case Shiller housing index just showed a 8th consecutive month of home price declines. During this time we’ve had one of the most favorable winter buying periods ever, caused by favorable weather conditions accross the United States with one of the warmest winters on record (other then in Alaska). And let’s not forget the record low interest rates on mortgages. Anyone […]
thestatedtruth.com | February 24, 2012
Wow…every one’s celebrating like it’s 1999, but it isn’t…try 2012? And…we continue to see record lows of Completed Houses for sale. Anyone still want to celebrate about this? www.zerohedge.com
thestatedtruth.com | February 24, 2012
We wouldn’t call this a surprise. Judging from the waiting time at the local restaurants, people are in a spending mood….and to boot we see a lot more construction going on, especially in light of a huge commercial and housing overhang. Confidence among U.S. consumers rose in February as Americans continued more hopeful about economic growth. The Thomson Reuters/University […]
thestatedtruth.com | February 20, 2012
Moore’s law states that the number of transistors that can be placed on an integrated circuit doubles every 18 months to two years, and it’s predicted to reach its limit with existing technology in 2020. But…Cutting the size of a transistor to a single atom may change that concept. Then again, it’s going to take a while to get a quantum […]
thestatedtruth.com | February 18, 2012
A New House Cost $10,000 Average Annual Income $ 4,000 One Gallon Gas $ .22 Average New Car $ 1,700 Loaf Of Bread $ .16 First Class Stamp $ .03 Kodak Brownie Camera $ 13.00
thestatedtruth.com | February 16, 2012
Sounds plausible! As part of its social media survey Goldman Sachs asked respondents what is the main reason for people to “log on” to various social networking venues. The answer, by a wide margin, is the expected one: namely to spy, and to compare whether our lives are more boring, less glitzy and exciting, with […]
thestatedtruth.com | February 16, 2012
It looks like we’ve seen the bounce in consumer net worth and now as we head back the other way, reality may set in! Or… maybe not, it being an election year and all. www.frontlinethoughts.com
thestatedtruth.com | February 16, 2012
In the new normal let’s review some definitions: (Discretionary spending is a spending category through which governments can spend through an appropriations act.) This spending is optional as part of fiscal policy, in contrast to entitlement programs for which funding is mandatory. As the Budget Control Act cuts discretionary spending to a 50-year low (close to only […]
thestatedtruth.com | February 15, 2012
So…. for Americans to get debt levels back to the happier times of 2002-03 levels, we’ll need about a 21% debt drop from the peak and a 17% drop from right where we are now. Back to 2000 will take longer. We’re talking many years for this to unwind. www.frontlinethoughts.com
thestatedtruth.com | February 13, 2012
Nobody on the planet is expecting GDP growth this high….2.7% never happens! You heard it first here. The smartest guys in the universe are much more conservative. From Bridgewater: Recent better-than-expected news on the U.S. economy is unlikely to be the start of a healthy expansion. The uptick in economic growth has been fueled by […]
thestatedtruth.com | February 10, 2012
Gasoline deliveries have in the past reflected recession or growth. If so, the recent drop in retail gasoline deliveries may signal a sharp economic contraction dead ahead. Or… a new normal because of rising fuel economy? Note that petroleum usage is back to 1997 level and gasoline usage is back to 2001 level. Moreover, two out of the last three weeks gasoline […]
thestatedtruth.com | February 10, 2012
So, Governor Brown, what happened to the big recovery you were expecting…and how about the giant consumer spending binge of the last two months fueled mostly on credit……just asking? This is a disaster to the state budget. Spending up as reflected in sales taxes, while income is down, relected in income taxes. California collected $528 million less in […]
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