Fed Treasury Holdings: $1,000,341,000,000
thestatedtruth.com | December 21, 2010
Auh, so my calculator doesn’t go that high, come again……..In layman terms, we’re talking about a trillion dollars!
Bank Of America May Wish It Was Bank Of Some Where Else!
thestatedtruth.com | December 21, 2010
WikiLeaks recently said it would target a large U.S. bank.  Bank of America was the rumored victim. This has now been confirmed. Agence Press France is reporting: Julian Assange confirmed that WikiLeaks was holding a vast amount of material about Bank of America which it intends to release early next year.
A Letter From The Postman……
thestatedtruth.com | December 21, 2010
A group of 52 business and financial luminaries have signed an open letter to U.S. Regulators (Geithner, Bernanke, et al.) on the need for national standards on mortgages. The signators are an impressive yet eclectic group. As an example, we see Nouriel Roubini; William Dunkelberg (NFIB); Bob Eisenbeis; Chris Whalen and Jim Bianco. Many of […]
A True Story From 1931
thestatedtruth.com | December 21, 2010
On or around this day in 1931, America was spiraling into the depths of the Depression. Thousands of banks had closed and there was a national panic that more closings might be imminent. And large corporations announced huge layoff programs, stunning many who thought they were safe. Those who had a job were grateful just to be […]
Cumberland Advisors Checks In With A Year End Update
thestatedtruth.com | December 21, 2010
Jobs, Risk, Uncertainty & Next Year: An Elaboration December 21, 2010 Bob Eisenbeis is Cumberland’s Chief Monetary Economist. Prior to joining Cumberland Advisors he was the Executive Vice President and Director of Research at the Federal Reserve Bank of Atlanta. Bob is presently a member of the U.S. Shadow Financial Regulatory Committee and the Financial […]
At The Train Station The Sign Says: Step To The Back Of The Line Please….Where Is That? How About 1.2 Miles To The Back Of The Line!
thestatedtruth.com | December 21, 2010
Great Britain….Thousands of Eurostar passengers joined giant lines and were forced to wait for up to seven hours today as the Channel Tunnel rail link was thrown into disarray. Police were forced to turn away some passengers after the freezing weather conditions ruined journeys at London’s St Pancras station as speed restrictions and cancellations affected the […]
‘Epic Proportions’ Of Snow Expected In Colorado Mountains
thestatedtruth.com | December 21, 2010
Southern California is looking at record amounts of rain……Interestingly, it was a cool summer and there was no fire season in California this year!
The Baltic Dry Index…..Heading In The Wrong Direction
thestatedtruth.com | December 20, 2010
The Baltic Dry Index (BDI) is a number issued daily by the London-based Baltic Exchange. It tracks worldwide international shipping prices of various dry bulk cargoes and provides “an assessment of the price of moving major raw materials by sea through 26 shipping routes measured on a timecharter and voyage basis”. So now you know!
Wikileaks Julian Assange Says He Has The Goods On A Big U.S. Bank
thestatedtruth.com | December 20, 2010
Stay tuned…..This will be a big story, maybe as soon as tomorrow. A heads up, last Friday Bank of America blocked all of Wikileaks payments. So… Is that a hint of a nervous banker? According to an advance preview of an interview with Julian Assange by the Times of London’s Alexi Mostrous, the Wikileaks founder has announced […]
Turn Out The Lights, The Party Is Over!
thestatedtruth.com | December 20, 2010
$2 Trillion Debt Crisis Threatens To Bring Down 100+ U.S. Cities Way to go Meredith Whitney…..Logic says the states will be doing huge (really huge) cut backs and layoffs…..So inquiring minds want to know how the economy can grow in these circumstances. To all of the economists out there, it sounds like Meredith is one of the few that gets it! […]
Solstice Eclipse Overlap First In 456 Years For Canada
thestatedtruth.com | December 20, 2010
This year’s winter solstice will be an event that will occur on Tuesday in Canada and will coincide with a full lunar eclipse that hasn’t been seen in 456 years. The celestial eccentricity holds special significance for spiritualities that tap into the energy of the winter solstice, the shortest day of the year and a time that […]
Ireland Gets A Warning From ECU
thestatedtruth.com | December 20, 2010
Isn’t it a little late for the ECU to be threatening about things here, the horse is already out of the barn! Does the ECU have an alternate plan or set of options here….Nope, that’s just what we thought, none! The European Central Bank warned Ireland that proposed legislation revamping the country’s financial system could threaten some of the ECB’s […]
Riots Erupt In Bangladesh After Stock Market Plunges 6.7%
thestatedtruth.com | December 19, 2010
Oh please, they got to be kidding? What are they protesting? Did anyone protest when they made money in the stock market. NO! After the stock market plunged on Sunday by 552 points or 6.72%, angry investors took to the streets, “threw bricks at police, marched in the streets shouting slogans, and staged a sit-down protest.”  “The […]
Home Ownership Rates Continue To Decline
thestatedtruth.com | December 19, 2010
The highest ownership rate of all time was 69.2% around 2005-2006, the low going back to 1965 is 62.9%, and we are currently at 66.9%. The bottom line: It looks like we have a ways to go on the down side!
Credit Unions Show Interesting Changes
thestatedtruth.com | December 19, 2010
Some interesting changes were made on December 16’th concerning Credit Unions!  Stay Tuned! As of the end of  November, 372 federally insured credit unions with assets of $43.4 billion were designated as CAMEL code 4 or 5. In addition, there were 1,792 CAMEL 3 credit unions with assets of $158.2. Overall, 22.3 percent of all credit union assets are […]
U.S. Federal Budget Chart
thestatedtruth.com | December 19, 2010
Well, the receipts (aqua color) aren’t looking so good, but the outlays (red color) are rolling to the upside. Just the opposite of what should be happening. www.zerohedge.com Â
President Obama Is Expected To Announce Cuts To Social Security During His State Of The Union Address According To Politico Which Quotes “Well-Placed Sources.”
thestatedtruth.com | December 19, 2010
Austerity anyone? This will be political suicide for the Democrats, plain and simple. “The tax deal negotiated by President Barack Obama and Senate Republican leader Mitch McConnell of Kentucky is just the first part of a multistage drama.” Next up on the path of what many see as the terminal alienation of the president from […]
Britain On Track For Coldest Winter Ever
thestatedtruth.com | December 18, 2010
Coldest December (so far) since records began as temperatures plummet to minus 10C bringing travel chaos across Britain….. Britain skidded to a halt today as the big freeze returned by grounding flights, closing rail links and leaving traffic at a standstill. Tonight the nation is braced for another 10 inches of snow and more sub-zero temperatures, with no […]
Quote Of The Day
thestatedtruth.com | December 18, 2010
“Make Each Day A Masterpiece!”                           John R. Wooden – UCLA Basketball Coach
All The More Reason To Ask How The Real Estate Bubble Got So Large
thestatedtruth.com | December 17, 2010
Real average earnings have not increased in 50 years…..So the next question is how do people make ends meet? We don’t know, that’s why we ask the question!  Were we better off in 1972 vs. 2010? Maybe so….  Read more: http://www.businessinsider.com/15-charts-about-wealth-and-inequality-in-america-2010-4#real-average-earnings-have-not-increased-in-50-years-6#ixzz18Q3QqKn9
The Wealth Gap
thestatedtruth.com | December 17, 2010
The gap between the top 1% and everyone else hasn’t been this wide since the Roaring Twenties……  http://www.businessinsider.com/15-charts-about-wealth-and-inequality-in-america-2010-4#the-gap-between-the-top-1-and-everyone-else-hasnt-been-this-bad-since-the-roaring-twenties-1
U.S. Tax Rate Chart
thestatedtruth.com | December 17, 2010
Tax rates are declining for everyone… But especially the top 1% . We would expect things to be pretty much the same in 2010 as they were in 2007. From: http://www.businessinsider.com/20-more-tax-facts-that-will-make-your-head-explode-2010-4#tax-rates-are-declining-for-everyone-especially-the-top-1-19
Did You Know…..
thestatedtruth.com | December 17, 2010
McDonald’s is the world’s largest distributor of toys, with one included in 20% of all its sales.  Each week nearly one-third of the U.S. population visits Walmart’s U.S. stores.  Last year Walmart sold more bananas than any other item.  Walmart is the largest overall employer in the USA.  Pages in the tax […]
Government Statistics….Liar Liar Pants On Fire!
thestatedtruth.com | December 17, 2010
Liar Liar Pants On Fire! The chart below is total consumer credit outstanding. Interestingly, when we looked at it, somehow it showed an uptick. That seemed odd and didn’t square with the credit card data. Low and behold…… they (the government) now count student loans as consumer credit, whereas they did not in the past. Geez, so federally supported credit (ie. student-backed […]
Credit Card Use Has Changed In A Dramatic Way
thestatedtruth.com | December 17, 2010
Debit cards are the new growth area…..”The lowest percentage of shoppers in the 27-year-history of a national survey said they used credit cards over the Thanksgiving weekend, while the use of general credit cards like Visa and MasterCard fell 11 percent in the third quarter from a year earlier, according to the credit bureau TransUnion. “Britt […]
Extension Of Unemployment Benefits Won’t Help Beyond 99 Weeks
thestatedtruth.com | December 17, 2010
The extension for unemployment benefits that is part of the compromise tax deal is good news for many of the unemployed, but it won’t provide aid to anyone who’s been out of a job over 99 weeks. The extension worked out by President Barack Obama and congressional Republicans only lets unemployed workers continue to draw […]
U.S. House Passes Tax-Cut Extension Bill
thestatedtruth.com | December 16, 2010
The U.S. Congress passed an $858 billion bill extending for two years all Bush-era tax cuts, and now the measure goes to President Barack Obama for his signature. Majorities of both parties supported the bill. Voting in favor were 139 Democrats and 138 Republicans, while 112 Democrats and 36 Republicans voted against it. Eight lawmakers didn’t vote. The […]
Economic Tid Bits
thestatedtruth.com | December 16, 2010
Neal Soss at Credit Suisse: We have rising prices in gasoline and food. That is worldwide. It is also the warning sign of the worst-case “nightmare scenario.â€Â It as an “eruption of headline inflation (food and gasoline) with no accompanying pick-up in wages or real growth.â€Â David R. Kotok of Cumberland Advisors: Through the December […]
6’th Circuit Finds That E-mails Are Protected Under 4’th Amendment, Search Warrants Needed For Government E-mail Interception
thestatedtruth.com | December 16, 2010
Let’s just say this is courtesy of the Wikileaks firestorm… Did you know that E-mails are now today’s primary mode of communication (that’s the main reason the U.S. Post Office is basically broke) , and that e-mail has been subject to the same amount of government surveillance as having a phone bugged since the Patriot Act. Fair to assume this may force […]
Hmm, So What Happened To The Housing Recovery?
thestatedtruth.com | December 16, 2010
Home Mortgage Rates Spike To The Upside
thestatedtruth.com | December 16, 2010
The most recent look at the 30 Year Cash Fannie Mortgage showed a rise by 11 bps overnight, and by a stunning 1% in the last month. At 4.703% the prevailing wholesale mortgage rate is back to the highest it has been since May 2010. And while some have speculated that this inflection in rates would have […]
Wikileaks Julian Assange Makes Bail
thestatedtruth.com | December 16, 2010
WikiLeaks founder Julian Assange had his bail ruling in Britain upheld on appeal.  It was considered a setback to U.K. prosecutors who sought to keep him jailed during an extradition fight with Sweden. The ruling today by the High Court in London upholds a Dec. 14 decision to free Assange on condition that he turn in his […]
United States Debt Is Fast Approaching 100% Of GDP
thestatedtruth.com | December 15, 2010
This chart sure goes back a long ways in time!  1792-Present!  Geez
32’nd Consecutive Week Of Equity Fund Outflows
thestatedtruth.com | December 15, 2010
ICI has just released money flows…..and we have the 32nd consecutive outflow from domestic equity mutual funds. Total outflows for the year to date are $96 billion.   We also saw for the first time in a while, an outflow of $401 million in taxable bond funds  (and $1.3 billion in outflows from muni bonds). And here is the cumulative flows chart:
The Real Story On The Tax Cut Bill
thestatedtruth.com | December 15, 2010
Wow! We’re not sure just where the President is going with this……. The Hill reports that the president has been telling members of Congress that failure to pass the tax-cut legislation could result in the end of his presidency. This begs the question: How does one view this….Reuters reports 2010 may be the second highest bonus payout season […]
Senate Approves New Tax Bill Extending Bush Tax Cuts For Two Years….Done Deal, Now It Moves To The House
thestatedtruth.com | December 15, 2010
The U.S. Senate on Wednesday officially approved an $858 billion bill extending the Bush-era tax cuts for two years in an 81-19 vote. Next up the House vote…..huff and puff maybe as soon as Thursday. The new legislation would extend Bush-era tax cuts for an additional two years for people of all income levels. It would cut […]
Anti-Austerity Riots Erupt In Greece
thestatedtruth.com | December 15, 2010
Protesters: Â “We want the government to take back the latest labor law that will hurt workers’ rights.”….Not a chance, didn’t they hear that Greece is broke. ATHENS, Greece (AP) — Protesters clashed with riot police across Athens on Wednesday, torching cars, hurling gasoline bombs and sending Christmas shoppers fleeing in panic during a general strike […]
Wikileaks Julian Assange’s Problems Are Only Just Beginning
thestatedtruth.com | December 14, 2010
A lawyer for Julian Assange of WikiLeaks says a secret grand jury is meeting outside Washington to consider charges in the release of thousands of sensitive U.S. documents. Mark Stephens, one of Wikileaks lawyers told David Frost on Al-Jazeera television that they have heard from Swedish authorities that there has been a “secretly empaneled” grand jury […]
Stratfor: Taking Stock of WikiLeaks
thestatedtruth.com | December 14, 2010
December 10,2010 By George Friedman Julian Assange has declared that geopolitics will be separated into pre-“Cablegate†and post-“Cablegate†eras. That was a bold claim. However, given the intense interest that the leaks produced, it is a claim that ought to be carefully considered. Several weeks have passed since the first of the diplomatic cables were […]
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