thestatedtruth.com | December 13, 2010
This added interest expense should bust state and local budgets for next year. So what’s a borrower to do? Well to start…cut backs are in order across the board and that’s official! Investors are demanding higher interest payments on municipal bonds in a race for year-end issuance.  Yields are pushing highest rates since 2009 while the Build America Bonds program appeared […]
thestatedtruth.com | December 13, 2010
The $858+ billion bill to extend the Bush tax cuts has secured 60 votes in the Senate, the minimum needed to schedule a final vote. That tally effectively gives a green-light for the Senate to finish the debate and send the package to the House. Inquiring minds wonder what kind of pork was added to this monstrosity.
thestatedtruth.com | December 13, 2010
Goldman Sachs Predicts Best Commodity Returns for 2011 will be in Precious Metals….. The raw materials most affected for 2011 will be those with the tightest supply, including crude oil, copper, cotton, soybeans and platinum….and we think you might want to add wheat, corn and rice to that list! By Maria Kolesnikova – Dec 13, 2010 Precious metals will […]
thestatedtruth.com | December 12, 2010
As this chart from Calculated Risk shows we’re about 99 weeks since the very worst of the job losses from late-2008/early-2009. The extent to which their cutoff effects the consumer recovery (and thus everything else) is something to consider. Read more: www.businessinsider.com
thestatedtruth.com | December 12, 2010
No good solutions ahead and problems galore, but this one was needed badly! The Senate votes on the fiscal package Monday at 3:00 pm. Assuming it passes, the House of Representatives is likely to vote later in the week. Congress plans to adjourn for the year December 17. President Barack Obama’s tax-cut deal with Republicans […]
thestatedtruth.com | December 12, 2010
Looks like we’re in a real pickle, if we try to borrow our way out of this mess, then the dollar will plunge, and if we go the austerity route-we have another World recession. Who would know better then Japan!  They say “The world is set for a long-term structural slump reminiscent of the 1870s ..The reason for the slowdown? […]
thestatedtruth.com | December 12, 2010
 “The top 1 percent of wage earners in America earned more than the bottom 48 percent of Americans. Source: Social Security Substantial income inequality is not the path to a strong and vibrant middle class. 17 percent of Americans are either unemployed or underemployed so the lower end of the curve is dragging more people […]
thestatedtruth.com | December 12, 2010
Updated: December 12, 2010 7:20 am ET Setup Next Week: Cold East, Mild West Pictured to the right is the incoming large dip in the jet stream taking hold in the East behind a storm which brought blizzard conditions to the Midwest. This will allow temperatures to fall 10 to 30 degrees below average to […]
thestatedtruth.com | December 11, 2010
Some think state secrets should be protected. It is a hot topic to say the least. The counter to that is reviewed below from the recently arrested Julian Assange.  Please note that the reviewed article below is not the indicative opinion of TheStatedTruth.com…………… Don’t Shoot Messenger For Revealing Uncomfortable Truths By Julian Assange Wikileaks deserves protection, not threats and attacks. […]
thestatedtruth.com | December 11, 2010
What’s the old Boy Scout motto……”Be Prepared”…well it looks like we are! On Oct. 31, the Maryland-based U.S. Cyber Command became fully operational, and its commander is also the head of the National Security Agency, the premier U.S. government entity for signals intelligence. “USCYBERCOM plans, coordinates, integrates, synchronizes and conducts activities to: direct the operations […]
thestatedtruth.com | December 11, 2010
China And Its Double-Edged Cyber-Sword   By Sean Noonan A recent batch of WikiLeaks cables led Der Spiegel and The New York Times to print front-page stories on China’s cyber-espionage capabilities Dec. 4 and 5. While China’s offensive capabilities on the Internet are widely recognized, the country is discovering the other edge of the […]
thestatedtruth.com | December 10, 2010
According to research released today by Cogent, affluent Americans are closing brokerage accounts an increasing clip: 13% of affluent individuals closed at least one account in the last 12 months, more than twice the pace of account closures in the previous five years. Fidelity Investments:Â Â Â Â Â Â Â Â Â Â 15% Wells Fargo Advisors:Â Â Â Â Â Â Â Â 11% Merrill Lynch:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â […]
thestatedtruth.com | December 10, 2010
Economic Inequality…..we present a great 3 minute summary, which even a third or fourth grader will understand.   What is gradually becoming accepted as the most troubling social, economic and political development in America, namely a record amount of income,wealth and social inequality. From the CBS 60 Minute interview of Fed Chairman Ben Bernanke: Q: The gap between rich and poor in this […]
thestatedtruth.com | December 10, 2010
Anyone surprised about this? What country wouldn’t protect its state interests!  From ABC News:  “Wikileaks founder Julian Assange, the man behind the publication of more than a 250,000 classified U.S. diplomatic cables, could soon be facing spying charges in the U.S. related to the Espionage Act, Assange’s lawyer said today. Justice Department officials declined to comment […]
thestatedtruth.com | December 10, 2010
For those who understand this, no explanation is needed. For those who do not understand this, no explanation is possible, you flunked kindergarten. Kindergarten Economics….The Tax System Explained In Layman Terms Ten men go out for beer and the bill for all ten comes to $100…If they paid their bill the way we pay our taxes, it would go […]
thestatedtruth.com | December 9, 2010
The monster snowstorm slated for this weekend will hit portions of the Midwest, eastern Great Lakes, central Appalachians, Ontario and Quebec hardest. The heaviest snow is most likely to begin over Iowa and surrounding areas Saturday. The snow will then encompass Michigan, western New York, southern and southwestern Ontario and southwestern and central Quebec for […]
thestatedtruth.com | December 9, 2010
Europe and Russia are looking at a super cold winter ….we’ve warned about this for a while! Sun spots have been indicating more bad weather dead ahead! When this winter is all said and done we may see 500 year old records fall. Britain has the coldest 1st-8th December on (CET) record, with monthly records starting in 1659. The daily data started […]
thestatedtruth.com | December 9, 2010
The Federal Reserves’s worst nightmare has just come true. Representative Ron Paul, Texas Republican and author of “End the Fed,†will take control of the House subcommittee that oversees the Federal Reserve. House Financial Services chairman-elect Spencer Bachus, an Alabama Republican, selected Paul, 75, to lead the panel’s domestic monetary policy subcommittee when their party […]
thestatedtruth.com | December 9, 2010
So that’s why interest rates have been rising lately! Pacific Investment Management Co., which manages the world’s biggest bond fund, is raising its forecast for U.S. growth next year as policy makers pump a “massive amount†of stimulus into the economy, Chief Executive Officer Mohamed El-Erian said.
thestatedtruth.com | December 9, 2010
From the looks of this, it understates the actual wealth loss by about 2-4% This from todays Federal Reserve Z1 report……”business debt increased to an all time record high of $7,351 billion, an $82 billion increase in the quarter”…..so yes I know corporate cash is very high, but so is corporate debt…….they’re borrowing to put cash on […]
thestatedtruth.com | December 9, 2010
This may get very personal with President Obama. Democrats are playing with fire here! Ben Smith of Politico says the House Democratic caucus has just voted to reject the tax deal. Posturing or the real deal?
thestatedtruth.com | December 9, 2010
Unintended Consequences Chris Verrone over at Strategas points out that the recent sell off in treasuries was “the second largest 2 day sell off in 50 years.â€Â  A move by the 10 year to 3.50% could have serious consequences. We’re getting dangerously close.
thestatedtruth.com | December 9, 2010
December 9, 2010 Excerpts from Art Cashin on the floor of The New York Stock Exchange Back in February of 2009, we wrote in these Comments that there was nothing stimulating in the proposed “stimulus packageâ€. We were not alone in that assessment. Our good friend, Dennis Gartman, and several others voiced the same doubts […]
thestatedtruth.com | December 8, 2010
ICI reports equity domestic funds saw outflows of $1,801MM last week, which is the 31st consecutive outflow.Â
thestatedtruth.com | December 8, 2010
Stay tuned, best guess to the question above is NO…..but one has to wonder!
thestatedtruth.com | December 8, 2010
Question: Aren’t we in an economic recovery.   Answer:  Well, yes…..according to the government! The Department of Agriculture reports that 42.9 million people collected food stamps last month, up 1.2% from the prior month and 16.2% higher than the same time a year ago.
thestatedtruth.com | December 8, 2010
Art Cashin touched on this winter weather situation last week. It looks like a cold one!   Heavy snowfall is unusual in Paris. PARIS – Heavy snowfall has forced the closure of airports and shut down the Paris bus system.Â
thestatedtruth.com | December 8, 2010
Personal consumption expenditures still account for 70.4% of national income (GDP) as of Q3 2010, that was down slightly from the record of 71.1% Q3 2009. But look where it was just 10 years ago in 2000. Standard of living reductions will force the chart below to seek lower levels of consumption. A small reduction in […]
thestatedtruth.com | December 7, 2010
Here is the real reason that the old folks get no cost of living increase for Social Security……Inflation data relies heavily on housing prices and removes food and energy costs. No kidding! Ah, but Congress gave themselves a raise this year, I guess they looked at it the other way around. U.S. government inflation data is “a […]
thestatedtruth.com | December 7, 2010
AccuWeather.com meteorologists are predicting a storm will move from the northern Plains into the Ohio Valley, then redevelop off the mid-Atlantic coast. On that path, the storm will produce a swath of plowable snow from the Dakotas through the Midwest and Great Lakes and into the Northeast. The storm has the potential to explode into […]
thestatedtruth.com | December 7, 2010
thestatedtruth.com | December 7, 2010
A report out of RealtyTrac talks about “the new normal” thinking! Two-thirds of mortgage holders said they would consider trying to modify loan terms if they couldn’t afford their payment, Trulia and RealtyTrac said. Almost half would think about halting payments altogether if their home value fell below the loan amount. Mounting foreclosures and an unemployment […]
thestatedtruth.com | December 7, 2010
The Stated Truth  Op-Ed Tuesday, December 7, 2010 Let’s Go Back In Time……To 1997 In July 1997, the Asian crisis evolved into fears of a worldwide economic meltdown due to financial contagion. On December 1st 1997 South Korea had to be saved with a $55 billion bailout. It was then the largest bailout in the history of the world, […]
thestatedtruth.com | December 7, 2010
Makes perfect sense! United Parcel Service will require customers shipping packages to show government-issued photo identification in an effort to intensify security after explosives were found on October cargo flights. The new policy expands a previous rule in place at UPS Customer Centers to include all retail outlets. Customers without a pre-printed shipping label will […]
thestatedtruth.com | December 7, 2010
It’s a done deal….Julian Assange has been arrested. In one of his releases he implied the United States usually gets its way with other countries…..Our guess is that he will end up some where else for trial (anyone care to guess where)? Bloomberg reports that Wikileaks founder Julian Assange  was arrested by London police over rape allegations made in Sweden. “Assange, […]
thestatedtruth.com | December 6, 2010
Didn’t the government say things were getting better….by the looks of the chart below, we’ve seen a very anemic recovery considering all the money (debt) that has been thrown its way. The latest AAR Rail-Time Indicators report that seasonally adjusted rail carloads across all commodities have seen a sequential volume decline in three of the past […]
thestatedtruth.com | December 6, 2010
Can’t say it’s a done deal, but it sounds pretty darn close! President Barack Obama said he’ll agree to a two-year extension of all Bush-era tax cuts in exchange for extending federal unemployment insurance. The plan also would cut the payroll tax by 2 percentage points. Obama said he would accept a lower rate for […]
thestatedtruth.com | December 6, 2010
This is an interesting summary of a review on retirement plans “Broken Promises” from Knowledge@Wharton …… From the women’s movement to the sexual revolution, the generation of 77 million baby boomers born in the United States between 1946 and 1964 has spent the last five decades loudly breaking new ground. Now, as they head toward their “golden years,” […]
thestatedtruth.com | December 6, 2010
We agree with this new bill to protect national security interests. As for corporate interests, well that’s another story!  These excerts from The Hill Blog: Sens. John Ensign (R-Nev.), Joe Lieberman (I-Conn.) and Scott Brown (R-Mass.) introduced a bill Thursday aimed at stopping WikiLeaks by making it illegal to publish the names of military […]
thestatedtruth.com | December 6, 2010
From Art Cashin on the floor of the New York Stock Exchange On this day in about 705 A.D., the Nordic tribes of Europe, recently converted to Christianity, began to adopt a theologically un-definable affection to an Archbishop who had existed three centuries before in an area east of Greece. Legend says he was as […]
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