thestatedtruth.com | August 4, 2011
Stocks plunged sharply Thursday, with the Dow down more than 500 points in its worst one-day drop since December 2008. So, the question is….are we looking at the real meal deal at McDonald’s or just a snack? We think just a snack. Sometime soon the market will probably start a rally, and the rally should last into late […]
thestatedtruth.com | August 4, 2011
Is Texas setting itself up for an electric grid disaster….we’ll soon see! Power demand for Electric Reliability Council of Texas, Inc, or ERCOT, which runs the power grid for most of the state, hit three consecutive records this week as Texans cranked up air conditioners to escape one of the hottest summers on record. Power […]
thestatedtruth.com | August 3, 2011
The consumer is broke and getting broker. So far, the free loaders have been free spenders. That’s about to change as the banks get closer to kicking millions of the mortgage dead beats out of their homes. As this evolves things will likely get down right nasty for the economy! From Bloomberg: Disclosure from an internal, […]
thestatedtruth.com | August 3, 2011
The rules have just changed. The little guy gets screwed again. Tiny Central Falls, R.I. filed for bankruptcy on Monday, but a new state law in Rhode Island places bondholders ahead of other creditors. It may turn out to be a bondholder’s dream as the real winners end up being the large municipalities located across the country as they target similar […]
thestatedtruth.com | August 2, 2011
So….our only question is: What happens if the economy gets really bad (by government standards)? Remember, the government says we’re still in a recovery. Just released data shows foodstamp usage increased over 1.1 million in the the highest single monthly jump in Foodstamp participation since mid 2009,that was when eligibility requirements were adjusted. We now have what amounts […]
thestatedtruth.com | August 2, 2011
In a puff of smoke….sounds like Putin doesn’t like us (U.S.) anymore? As if he ever did! On the other hand, he makes some startlingly good observations. Putin says U.S. is “parasite” on global economy Russian Prime Minister Vladimir Putin accused the United States Monday of living beyond its means “like a parasite” on the global economy […]
thestatedtruth.com | August 2, 2011
Let’s get real…..this isn’t unexpected! Government bonds in Italy and Spain continue on a downward march, creating more concern about the potential spread of the euro zone’s debt crisis. The dominoes are falling one by one. World wide debt problems are bubbling over. A new financial world order is coming shortly.
thestatedtruth.com | July 31, 2011
We couldn’t be more poetic if we tried…… scratch Pelosi from this chart and substitute Boehner, but it won’t change a thing!
thestatedtruth.com | July 31, 2011
Slow learners……we’re talking about the government of course! They want banks to loan out more and consumer borrowing to pick up. They still don’t get it! Household debt levels are at 112% of annual income which is considered too high. To get back to a 1990’s debt-to-income ratio’s of 84%, incomes would need to be nearly $4 trillion higher. This would take about […]
thestatedtruth.com | July 30, 2011
So much for the recovery. Button up and stay alert. Maintaining what one has will go to the fiscally fittest…… John Williams of Shadow Stats confirms the severity of the on coming double dip. – GDP Growth Slows Markedly – Official Downturn Much Deeper In Revision – Latest GDP No Longer Has Recovered Pre-Recession High – 2009 Annual […]
thestatedtruth.com | July 29, 2011
Better late then never…..looks like the government finally gets real on housing! Research released Monday by William Hedberg, a San Francisco Fed research associate, and John Krainer, a senior economist, say housing weakness is likely to continue for years. We’re now starting to see the government throw in the towel on trying to artificially save housing. Supply and […]
thestatedtruth.com | July 29, 2011
Economically speaking, things slow before they reverse. That looks to be what we are doing currently. Whether we slow down more next year, then go off a cliff, or skip that part and fall off the cliff in the next six months will probably be a moot point. The U.S government is broke and not hiring new workers for the first time in our lives. In addition they’re […]
thestatedtruth.com | July 21, 2011
Apple’s newest Lion software upgrade is laying in wait to test out the latest Mac book computer. Bloomberg reviews the newest tech below! Apple says its newest operating system called Lion won’t need a mouse, that’s right, no mouse…..Lion, is the new version of the software that runs Apple Inc. (AAPL) s Macs and is also the first personal-computer operating system […]
thestatedtruth.com | July 21, 2011
Bad seats, hey buddy! Leaders of the Eurozone announced a huge new financial bailout package for Greece on Thursday, doubling up the amount of loans originally agreed upon ……The 17 EU nations that use the euro, offered Athens $157 billion in new loans, a nearly identical aid package to last year.
thestatedtruth.com | July 21, 2011
Treasury exits Chrysler bailout with $1.3-billion loss……declared it a success. The Chrysler Group bailout officially ended Thursday when the Treasury Department sold off its remaining stake in the automaker, and the final tally shows the taxpayers lost $1.3 billion. The Treasury is unlikely to recover the remaining $1.3 billion. But Tim Massad, the Treasury assistant […]
thestatedtruth.com | July 21, 2011
Medi is her name and Meditation is her game….Medi asks, now can I have my biscuit? By definition the English word meditation is derived from the Latin meditatio, from a verb meditari, meaning “to think, contemplate, devise, ponder, meditate”. The subject gets even deeper but this will do for now. www.jsmineset.com
thestatedtruth.com | July 20, 2011
ABC reports……. Sabotage by an insider at a major utility facility, including a chemical or oil refinery, could provide al Qaeda with its best opportunity for the kind of massive Sept. 11 anniversary attack Osama bin Laden was planning, according to U.S. officials. A new intelligence report from the Department of Homeland Security issued Tuesday, […]
thestatedtruth.com | July 20, 2011
Sounds plausible! Even a blind squirrel gets an acorn from time to time! A U.S. drone was shot down while flying over a nuclear facility in Iran, according to reports in the Iranian media. The U.S. has no comment. More at: http://www.msnbc.msn.com/id/43819984/ns/world_news-mideast_n_africa/
thestatedtruth.com | July 20, 2011
A New House was….$4,800 Average Annual Income…..$1,100 One Gallon of Gas….8 cents Average New Car….$900 Loaf Of Bread….10 cents Coffee, One Pound….29 cents Corona Typewriter….$50.00
thestatedtruth.com | July 20, 2011
It’s the new normal, and it’s going to be here a while….. NAR: With job creation below expectations, excessively tight loan standards are keeping many buyers from completing deals….And proposals being considered in Washington could effectively put more restrictions on lending. An unprecedented 16% cancelled contracts in June. According to the NAR, June existing home sales […]
thestatedtruth.com | July 19, 2011
Unlike back in the day when everything was East vs. West….the Soviets and China vs NATO and the United States, we are now interconnected to everywhere and everything. There used to be an old saying, “One man’s pain is another man’s gain”, but now one man’s pain very well may end up being pain for all men (and […]
thestatedtruth.com | July 18, 2011
Some opinions to be reckoned with…. it’s time to pay attention to the road everyone. From Reuters: Former U.S. Treasury Secretary Lawrence Summers explains….The European financial crisis has entered a new and far more dangerous phase. Where the crisis had been existential for small economies on the periphery of Europe but not systemically threatening to […]
thestatedtruth.com | July 18, 2011
Steve Wynn is very wealthy and very smart. When he talks, people tend to pay attention….no pun intended! During the Wynn corporate earnings call, Steve Wynn gave without doubt the most blistering and scathing critique of the Obama administration by anybody yet, and he’s a Democrat. From the call transcript: I believe in Las Vegas, I think its best […]
thestatedtruth.com | July 17, 2011
War between Iran-Israel……CIA veteran Robert Baer, “I think we are looking into the abyss”……“there is a warning order inside the Pentagon” to prepare for war. If this happens, envision Gold exploding along with Oil, while stock markets and economies around the World plunge. It doesn’t take a rocket scientist to throw caution to the wind. Â Naval update per […]
thestatedtruth.com | July 15, 2011
President Barack Obama said deficit-cutting talks are running out of time, and dismissed the plan that House Republicans will promote as not serious. The House plans to vote July 19 to increase the debt ceiling, but wants it tied to approval of a balanced-budget amendment. The Democrats have a back up proposal that would grant Obama authority to raise the debt limit in […]
thestatedtruth.com | July 14, 2011
A backup plan to cut the federal deficit and keep the U.S. government from default is now being discussed. Things should get very interesting. Called plan B, it is taking shape in back room discussions between Senate Majority Leader Harry Reid (D., Nev.) and Republican leader Mitch McConnell (R., Ky.). House Republicans are not happy about this. […]
thestatedtruth.com | July 11, 2011
Government checks (handouts) are about to run out….. now what? According to Reuters: “Close to $2 of every $10 that went into Americans’ wallets last year were payments like jobless benefits, food stamps, Social Security and disability, according to an analysis by Moody’s Analytics.” And what lies ahead could be a major and very significant crisis […]
thestatedtruth.com | July 11, 2011
“Welcome to the Recovery”…..oh yeah, that was a year ago. Now it’s known as the new normal! And wasn’t tech supposed to be immune from all of this? Just asking. Cisco is preparing to fire 10,000, or 14% of its entire work force, over and above the number of people that the company said was going to be […]
thestatedtruth.com | July 10, 2011
So, the government admits 3 years later that we were headed for another great depression back in 2008…Can’t expect them to be honest with us now. Looks like a lot of unfinished business lies dead ahead.  Just a heads up! WASHINGTON (AP) — Treasury Secretary Timothy Geithner (GYT’-nur) says many Americans will face hard times for a long time to come. He […]
thestatedtruth.com | July 10, 2011
Greece is a lost cause. Next up is either Italy or Spain. Both the Dollar and the Euro currencies are in trouble. The last man standing looks to be Gold. From the NY Times…… LONDON — Top European officials planned to meet on Monday to wrestle with threats to the currency union as fears mounted […]
thestatedtruth.com | July 8, 2011
You only get 3 strikes in baseball…..  Online Piracy – Six Strikes and You Are Out  Those of us that live in California have heard about the Three Strikes law. But, have you heard about the Six Strikes Plan created by U.S. Internet Service Providers? Online pirates who persist in sharing copyrighted music, […]
thestatedtruth.com | July 8, 2011
It’s “elementary, my dear Watson”…..Follow the floating balls in the chart below, the bigger the ball, the worse the debt/GDPÂ situation is for that country. When it comes to the stability of the European dominoes, let’s think for a moment about Italy, which is not only the second worst country in Europe after Greece on a […]
thestatedtruth.com | July 8, 2011
These ratios are looking terrible. How can anyone expect the economy or real estate for that matter to turn with these kinds of numbers. Or, are we just being too logical here? Baby boomers are screwed. Plain and simple. The civilian labor force has declined to 64.1%.  The employment to population ratio also slumped to a multi decade […]
thestatedtruth.com | July 8, 2011
So…….here we go with one of the very big problems in our economy. The government continues to say that we’re in a recovery, but it’s really just a hallucination. We”re being kind when we say that! Draw your own conclusions. The number of people not in the labor force who want a job now surged to a fresh all time high […]
thestatedtruth.com | July 8, 2011
Should we be surprised? The U.S. economy barely added jobs in June and the unemployment rate rose to the highest level this year. To make matters worse, the birth/death adjustment was responsible for over 50% of the job payroll gains over the last 12 months!  And everybody thought we were just kidding when we said “bad seats, […]
thestatedtruth.com | July 6, 2011
Hmm, let’s see…..the Mortgage Bankers Association (village idiots) back in January targeted  $616 billion in new lending from mortgage loans covering the 2011 calendar year. It was a nice try but a stab in the dark. Guess what?  They just gutted that number…yep, down she goes, so now they expect it to come in around $432 billion for 2011. The village idiots were only off by […]
thestatedtruth.com | July 6, 2011
This from the great Art Cashin on the floor of the New York Stock Exchange……Art digs into this subject headline. “Borrowing by small U.S. businesses rose at a record pace in May”, according to data, a sign that economic growth is poised to pick up in coming months…..the insinuation is that the government and big […]
thestatedtruth.com | July 5, 2011
Worry warts……from our shoes, we have never seen more shoppers out and about then on this Fourth of July weekend…..never. Spend now….worry later is the name of the game! Plain and simple. But in a Bloomberg Television interview with Carol Massar,  Stephen Roach of  Morgan Stanley said “What I worry about now is we are creating a whole new generation […]
thestatedtruth.com | July 5, 2011
Here’s a heads up on the United States debt debacle…….word has come from Washington that President Obama will use the 14th amendment to declare the debt limit as unconstitutional, if need be. Rock and Roll! On the other hand, it may be unconstitutional to call the 14th amendment unconstitutional, if you get our drift. James […]
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