CPI Components And How Housing Controls It
thestatedtruth.com | February 8, 2010
In the past few decades Americans have seen more and more of their income being eaten up by the housing sector of the economy:
Rash Of Retirements Could Push Social Security To Brink
thestatedtruth.com | February 8, 2010
And many thought we were out of the deep poop………the government will just borrow more money, there will be a new deal, not as good as the old one for social insecurity….. the dollar will fall further and China will get even more control of the U.S.,  without ever firing a shot. Who needs nuclear weapons when one has […]
The Power Of Ones Debt Held By Another Can Be Enormous
thestatedtruth.com | February 8, 2010
The fall of great empires have one thing in common……Too much debt!    America presents unsettling parallels with the disintegration of Rome – a decline of moral values, a loss of political civility, an overextended military, an inability to control national borders, and a growth of fiscal irresponsibility by the central government. Do these sound familiar?  […]
John Mauldin’s “Outside The Box”….Simon Hunt’s Long Wave Theory Of Cycles
thestatedtruth.com | February 8, 2010
This summary from John Mauldin’s “Outside The Box”, is from Simon Hunt, based in London. Simon travels to China many times a year, is an authority on copper and the Long Wave theory of cycles. Points below are summarizd and well taken in my view.   In summary, global economic recovery will disappoint as set out […]
The Volcker Rule…….It’s Also Called Having Skin In The Game
thestatedtruth.com | February 8, 2010
Volcker Rule Unabridged By David Weidner, MarketWatch NEW YORK (MarketWatch) — Not since Lady Gaga was slated to appear at the Grammys has there been this much anticipation about a performance. With Paul Volcker expected to visit Capitol Hill on Tuesday, Wall Street will get its first detailed glimpse into the former Federal Reserve chairman’s […]
The Return Of The Aspirational Consumer…..The Drift Between The Haves And Have Nots Is Bigger Than Ever!
thestatedtruth.com | February 7, 2010
U.S. Shoppers Splash Out On Luxury By Jonathan Birchall in New York Published: February 7 2010 More prosperous American shoppers seem to be defying continuing high unemployment levels and economic uncertainty to renew their spending on luxuries such as jewellery, fashion and cosmetics. That is the picture emerging from the current round of US earnings […]
Household Debt…..A Long Way Down To Go!
thestatedtruth.com | February 7, 2010
So……if the Fed can create money out of thin air through their banking web why is the economy still faltering? In boom and bust cycles we see a love and revulsion towards debt. Banks can be willing to lend out money but you can’t force average Americans to borrow. This past decade we saw the […]
Mortgage Bankers Association Sells Headquarters At Huge Loss
thestatedtruth.com | February 6, 2010
The emperor has no clothes……….. Like millions of American households, the Mortgage Bankers Association found itself stuck with real estate whose market value has plunged far below the amount it owed its lenders. On Friday, CoStar Group Inc., a provider of commercial real estate data, announced that it had agreed to buy the MBA’s 10-story headquarters […]
Secret Summit Of The Worlds Top Bankers Meet In Australia
thestatedtruth.com | February 6, 2010
Hmm……secret summit of top world bankers in Australia. We’ll hear more on this next week.   Secret summit of top bankers By George Lekakis and Fleur Leyden From: Herald Sun February 06, 2010 12:00AM World’s top bankers fly in To meet at secret location Trouble on the horizon THE world’s top central bankers began arriving […]
Total Rail Traffic, As In Railroad………
thestatedtruth.com | February 5, 2010
Measures Of Real Output Here we review a number of measures of real economic output that are distinct from FIRE Economy measures. Total rail traffic in the U.S. in 2009 was below 2008 levels, and trended down into the 4th quarter of 2009 as during 2008, curiously in a quarter when GDP numbers were robust. […]
Kessler: Bernanke’s Exit Strategy
thestatedtruth.com | February 4, 2010
Kessler: Bernanke’s Exit Strategy ~~~~~~~~~~~~ ANDY KESSLER, The Wall Street Journal (02/04/10): We can end bank panics forever by limiting the ability of lenders to create money out of thin air.  Last week, voting 70-30, the Senate confirmed Federal Reserve Chairman Ben Bernanke for another four year term. So now what will he do? […]
City Of Los Angeles Says We Have Eliminate 1,000 City Jobs, City Council And City Union Says Not On Our Watch……..So What Do You Do? Uh, May Have To Give Everyone A Raise
thestatedtruth.com | February 4, 2010
February 4, 2010 Can you believe this……….The city of Los Angeles budget shortfall is $212 million this year and will be at least $484 million in the fiscal year that starts July 1. Los Angeles Mayor Antonio Villaraigosa moved Thursday to eliminate 1,000 city jobs and begin planning layoffs of city employees, one day after the […]
George Gilder Has A Strong Opinion On Relations With China
thestatedtruth.com | February 4, 2010
GEORGE GILDER, Gilder Telecosm Forum …… In my view, the United States is making what could be a fatal blunder with regard to China. Liberals who applauded every move toward appeasement of the monstrous Maoist regime now are relentlessly hostile toward the new capitalist leaders who have liberated more people than any other regime in history. […]
China Reserves…..Biggest Bubble in History Is Growing Every Day
thestatedtruth.com | February 4, 2010
Beware China……..away we go.   China’s currency reserves grew by more than the gross domestic product of Norway in 2009. Could end badly, the challenge for China alone is like trying to park an Airbus A-380 super-jumbo in a Volkswagen. Like all pyramid schemes, there’s no easy end in sight and things could end badly. If […]
Retailers Likely To Close More U.S. Stores: Analysis
thestatedtruth.com | February 4, 2010
Excuse my rant, but……What were these REIT retail morons thinking when they opened all of these stores………Drive down any street in America, and how many stores do you count…..I’ll tell you…..lots and lots!  Now it’s time to close them down……Duh  And the REIT’s had one of the biggest stock rallies ever and they own most of this crap. […]
Can The Growing Sovereign Debt Problem Take Down The World?
thestatedtruth.com | February 4, 2010
Stocks, Metals Plunge as Dollar Gains on Debt, Jobs Concerns By Rita Nazareth and Gavin Serkin Feb. 4 (Bloomberg) — Stocks plunged around the globe, with the MSCI World Index dropping the most in four months, and metals tumbled on concern an unexpected increase in U.S. jobless claims and growing sovereign debt will derail the […]
A Great Review Of The American Middle Class Fight For Economic Survival In Todays World
thestatedtruth.com | February 3, 2010
The Devaluation and Fight for Survival of the American Middle Class – How Three Decades has Shifted the Concentration of Financial Wealth to the top 1 Percent.  Posted: Wed, 03 Feb 2010 The American middle class ideal is lionized around the world. It is the core of what has made this country great. The […]
U.S. May Lose 824,000 Jobs As Employment Data Revised
thestatedtruth.com | February 3, 2010
U.S. May Lose 824,000 Jobs as Employment Data Revised: Analysis Feb. 3 (Bloomberg Multimedia) — The U.S. may lose 824,000 jobs when the government releases its annual revision to employment data on Feb. 5, showing the labor market was in worse shape during the recession than known at the time. Click here for a Bloomberg […]
Gene Inger….The China Power Posture
thestatedtruth.com | February 2, 2010
Gene Inger’s Daily Briefing . . . for Wednesday February 3, 2010:  Good evening;  Is China trying to ‘buy’ . . .their way into a power posture vis-à -vis the U.S.A.? It’s a question that has dogged us all through the financial crisis domestically. Why would a smart crowd, even knowing (as our forecast […]
Greece….The Ballooning Of Sovereign Balance Sheets
thestatedtruth.com | February 2, 2010
Greece Part Of Unfolding Sovereign Debt Story By Mohamed El-ErianGlobal investors worldwide are starting to pay more attention to what is unfolding in Greece. Yet most still think of Greece as an isolated case, just as they did for Dubai a few months ago. With time, they will see Greece as part of a much […]
Gene Inger Talks About Growing Persian Gulf Tensions
thestatedtruth.com | February 1, 2010
Gene Inger’s Daily Briefing . . . for Tuesday February 2, 2010: Â Good evening; Â Â A defined surge . . . by the Senior Averages on Monday was not unexpected for the early February start. However; the reigns were actually pulled-back on this express to the upside, even as it appears the move was […]
New Derivative….The Life and Longevity Markets Association
thestatedtruth.com | February 1, 2010
When in doubt: create another derivative. Insurers now want to be protected against people living longer. According to The Wall Street Journal: “Eight investment banks and insurers have come together to develop an organized market to help them spread the financial risks and costs of an aging society more widely. The Life and Longevity Markets […]
U.S. Beefs Up Military Presence Off Iranian Shores
thestatedtruth.com | January 31, 2010
U.S. Beefs Up Military Presence Off Iranian Shores Sun, 31 Jan 2010 08:50:31 GMT In addition to imposing new sanctions on the Tehran government, the US has reportedly begun beefing up its military presence and war paraphernalia off the Iranian coast. US military officials told AP on condition of anonymity that Washington has taken silent […]
Things Are Looking A Little Dicey In The Middle East
thestatedtruth.com | January 31, 2010
U.S. speeds up arms buildup with Gulf allies Initiatives with Arab nations, military aimed at thwarting Iran attacks By Joby Warrick Washington Post Staff Writer updated 3:37 p.m. MT, Sat., Jan. 30, 2010 DUBAI, UNITED ARAB EMIRATES – The Obama administration is quietly working with Saudi Arabia and other Persian Gulf allies to speed up […]
China….Getting More Agressive With the United States
thestatedtruth.com | January 31, 2010
China Suspends Military Ties With U.S. Sat, 30 Jan 2010 13:48:25 GMT China suspends military exchanges with the US and threatens to impose sanctions on US arms companies over a Washington decision to sell weapons to Taiwan. China’s Defense Ministry suspended military exchange visits with the US, saying the suspension was “in consideration of the […]
Swiss Bank UBS …..Could Collapse Over U.S. Tax Issue
thestatedtruth.com | January 31, 2010
Swiss warn UBS bank could collapse GENEVA — Switzerland’s justice minister warned in an interview on Sunday that top bank UBS could collapse if sensitive talks with the United States over a high-profile tax fraud investigation fall through. “The actions of UBS in the United States are very problematic. Not just because they are punishable […]
It Looks Like Former Treasury Secretary Henry Paulson’s New Book Will Have Some Eye Popping Things In It!
thestatedtruth.com | January 30, 2010
Jan. 29 (Bloomberg) — Russia urged China to dump its Fannie Mae and Freddie Mac bonds in 2008 in a bid to force a bailout of the largest U.S. mortgage-finance companies, former Treasury Secretary Henry Paulson said. Paulson learned of the disruptive scheme while attending the Beijing Summer Olympics, according to his memoir, On The […]
It’s Payback Time For Fannie Mae and Freddie Mac…..Hello BofA
thestatedtruth.com | January 30, 2010
By NICK TIMIRAOS It is payback time for Fannie Mae and Freddie Mac on some mortgages sold to the finance companies by lenders. Stuck with about $300 billion in loans to borrowers at least 90 days behind on payments, Fannie and Freddie have unleashed armies of auditors and other employees to sift through mortgage files […]
The U.S. Deficits Chart….Spending vs. Revenue. What Would Our Personal Balance Sheets Look Like If We Did This, You’re Right If You Said We Would Be Bankrupt In Short Order!
thestatedtruth.com | January 30, 2010
The U.S. is running massive deficits. If we do not get them under control, we will one day, and perhaps quite soon, face our own “Greek moment.” Look at the graph below, and weep. Obama offering to freeze spending by 17% in US discretionary-spending programs, after he ran them up over 20% in just one […]
Sovereign Debt and Default
thestatedtruth.com | January 30, 2010
Greece is running a budget deficit of 12.5%. Under the Maastricht Treaty, they are supposed to keep it at 3%. Their GDP was $374 billion in 2008 (about €240 billion). If they can cut their budget deficit to 10% this year, that means they will need to go into the bond market for another €25 […]
The Real Cost Of Home Ownership
thestatedtruth.com | January 29, 2010
So of married couples with two children 76 percent have two earners. The average American is simply working to stay on track or face being thrown off the treadmill. Jobs are so important to keeping a solid middle class. This should be obvious but current policy being driven by the corporatacracy is simply focusing on […]
Over 37 Million Americans Are Now On Food Stamps, It’s The Biggest Percentage Ever
thestatedtruth.com | January 29, 2010
We have many more people simply trying to stay afloat let alone pursuing the middle class ideal. Over 37 million Americans are now part of the food stamp program, not only is this the highest number ever but also the highest percentage of Americans ever to be on food assistance:  More at : http://www.mybudget360.com/
It Was Just A Matter Of Time Before This Happened
thestatedtruth.com | January 29, 2010
Delphi Salaried Workers’ Pensions Cut Judge OKs reduction for salaried retirees while suit continues DAVID SHEPARDSON Detroit News Washington Bureau           January 29, 2010 Washington — More than 500 of auto supplier Delphi Corp.’s salaried retirees will start receiving reduced pension checks starting Monday. Delphi’s 21,000 salaried retirees and plan participants, thousands of whom live […]
This Is The Future For Many Cities, States Would If They Could!
thestatedtruth.com | January 28, 2010
Pennsylvania Capital Should Weigh Bankruptcy, Controller Says By Dunstan McNichol Jan. 26 (Bloomberg) — Harrisburg, Pennsylvania, the capital of the sixth-largest U.S. state by population, should skip a $2.2 million debt service payment due Feb. 1 and consider bankruptcy, City Controller Dan Miller said. Harrisburg faces $68 million in payments this year in connection with […]
Bankers At Davos Meeting Paint A Gloomy Consensus Going Forward
thestatedtruth.com | January 28, 2010
Gloomy Scenarios As Bankers Duck For Cover Jan 27 2010, 3:49 pm by Alan Friedman DAVOS, Switzerland – The U.S. and European economic recoveries could run out of steam later this year, and they could be faced with a prolonged period of low growth, high unemployment, a huge debt overhang on both governments and households, […]
Home Sales Data….Not Looking To Good! Is The Government Throwing Good Money After Bad In The Housing Market?
thestatedtruth.com | January 28, 2010
Airlines In A Nose Dive During 2009, Worst Since 1945
thestatedtruth.com | January 27, 2010
Airlines Suffered Record Drop In Traffic In 2009: IATA Jan 27 05:19 AM US/Eastern International airlines suffered their biggest decline in traffic since 1945 last year as passenger demand fell 3.5 percent, the International Air Transport Association said Wednesday. Freight also fell, by 10.1 percent, as “full-year 2009 demand statistics for international scheduled air traffic […]
Food Hardship A Growing Problem In A Tough Economy
thestatedtruth.com | January 27, 2010
U.S. Households Struggle To Afford Food: Survey WASHINGTON (Reuters) – Nearly one in five U.S. households ran out of money to buy enough food at least once during 2009, said an antihunger group on Tuesday, urging more federal action to help Americans get enough to eat. “There are no hunger-free areas of America,” said Jim […]
Lessons From The Panic Of 1907
thestatedtruth.com | January 25, 2010
Lessons from the Panic of 1907 by Clif Droke January 25, 2010 In their timely look at the panic of 1907, Robert Bruner and Sean Carr focus attention on what they believe to be the underlying causes of the ’07 stock market crash and recession, drawing parallels between it and the credit crisis of more […]
A Busted Budget……. A Major-league Quandary
thestatedtruth.com | January 25, 2010
The Scary Budget Numbers By David Walker New York, New York The recession and attendant financial shock appear to be easing as I write this. But in Washington, financial imprudence is part of the fabric of government. You can see that in a single document that gets updated every year: the US budget. In putting […]
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