thestatedtruth.com | October 6, 2010
ICI’s latest weekly flow report confirms the 22nd weekly outflow from domestic mutual funds. In September $20 billion was pulled out from domestic stocks. Weekly: Cumulative:
thestatedtruth.com | October 6, 2010
 Chris Whalen (one of the top banking analysts): “Rising operating costs in banks will be more significant than in past recessions and could force the U.S. government to restructure some large lenders as expenses overwhelm revenue.â€Â “We are less than one-quarter of the way through the foreclosure process,†said Whalen, in remarks prepared for an […]
thestatedtruth.com | October 6, 2010
By DAVID STREITFELD and GRETCHEN MORGENSON Published: October 6, 2010 The uproar over bad conduct by mortgage lenders intensified Tuesday, as lawmakers in Washington requested a federal investigation and the attorney general in Texas joined a chorus of state law enforcement figures calling for freezes on all foreclosures. Representative Nancy Pelosi, the House speaker, and […]
thestatedtruth.com | October 6, 2010
Middle Class Slams Brakes on Spending    By SARA MURRAY Middle-class Americans made their deepest spending cuts in more than two decades, slashing spending on such discretionary items as restaurant meals and alcohol during the recession. Households in the middle fifth of the population sliced their average annual spending to $41,150 in 2009, the Labor […]
thestatedtruth.com | October 6, 2010
The IMF said global growth will slow more than expected as advanced economies slash budgets amid a continuing sovereign debt crisis.
thestatedtruth.com | October 5, 2010
October 5, 2010  The game of musical chairs is played with more than one entrant. The players have to focus on the whole group. Contestants gauge their positions as they go around and around. Only when the music stops is the outcome known.  In the US, many investors tend to focus on our […]
thestatedtruth.com | October 5, 2010
Hmm….This could get interesting with the Russians in control of the natural gas pipelines to Europe.  It’s also another reason why NATO has lost much of its power in Europe.   Forecasters say this winter could be the coldest Europe has seen in at least 100 or more years. In Russia, authorities are drawing up measures to help Muscovites survive the […]
thestatedtruth.com | October 5, 2010
From Art cashin on the floor of  The New York Stock Exchange…… Not Quite What They Seem – Our UBS pal in London, Andy Lees, put out an eye-opening piece on China this morning. Andy sees China becoming more vulnerable because of their growing energy dependence. The piece is too big to fully reproduce but […]
thestatedtruth.com | October 5, 2010
Stratfor October 5, 2010 | 0903 GMT .  By George Friedman The U.S. government issued a warning Oct. 3 advising Americans traveling to Europe to be “vigilant.†U.S. intelligence apparently has acquired information indicating that al Qaeda is planning to carry out attacks in European cities similar to those carried out in Mumbai, India, in […]
thestatedtruth.com | October 4, 2010
The Mortgage Mess as it affectionately is called seems to be getting new names with each passing day – the latest one is, quite appropriately RoboSigning Scandal During today’s CNBC Kudlow segment Diana Ollick confirms various so far unfounded rumors that the government is planning to institute a 90 day foreclosure moratorium as it deals with the […]
thestatedtruth.com | October 4, 2010
Possible targets in the suspected European terror plot are pre-security areas in at least five major European airports, a law enforcement official told ABC News. Authorities believe terror teams are preparing to mount a commando like attack featuring small units and small firearms modeled after the Mumbai attack two years ago. The State Department issued […]
thestatedtruth.com | October 4, 2010
 Recovery, what recovery! U.S. consumer bankruptcy filings rose 11% in the first nine months of this year, versus the same period in 2009, the American Bankruptcy Institute said Monday, according to data from the National Bankruptcy Research Center. Filings totaled 1,165,172 nationwide during the first nine months of 2010, compared to 1,046,449 total consumer filings a year […]
thestatedtruth.com | October 3, 2010
Sounds like Cuba is headed in the same direction as China, the model seems to be a hybrid communist/capitalist mix.  Oct 3,2010  On September 13 Cuba  announced plans to slash one million state jobs,  including half a million between October and March. On Monday, Cuba starts the six-month process of firing half a million […]
thestatedtruth.com | October 1, 2010
Data from the new Census report created the following income distribution chart: So…..35% of U.S. households live on $35,000 or less.   Those making more than $100,000 fall under the top 20 percent category. But the real income disparity shows up clearly once you go over the $200,000 range. The top 20 percent of Americans made […]
thestatedtruth.com | October 1, 2010
By ALAN ZIBEL October 1, 2010 WASHINGTON -Â Bank of America is delaying foreclosures in 23 states as it examines whether it rushed the foreclosure process for thousands of homeowners without reading the documents. The move adds the nation’s largest bank to a growing list of mortgage companies whose employees signed documents in foreclosure cases […]
thestatedtruth.com | September 30, 2010
The U.S. Postal Service was denied a proposed increase in rates after its regulator said the agency couldn’t justify the request. The decision left the price of first-class stamps unchanged at 44 cents. The Postal Regulatory Commission in Washington today said the service couldn’t support a proposal for an average increase of 5.6 percent when the inflation rate is […]
thestatedtruth.com | September 30, 2010
September 30, 2010 Â Â The Eiffel Tower was evacuated Sept. 28 after an anonymous bomb threat against the symbolic Parisian tourist attraction was phoned in; no explosive device was found. The day before the Eiffel Tower threat, French authorities closed the Gare Saint-Lazare in central Paris after an abandoned package, later determined innocuous, was […]
thestatedtruth.com | September 29, 2010
Money flows have shown limited effects on markets recently. The Government and trading robots are now in total control. This unusual minimal negative effect would not have happened in the 1970-2000 markets.  ICI has just reported that in the week ended September 22, domestic equity mutual funds saw a 21st sequential outflow of $2.5 billion, bringing the total Year To Date […]
thestatedtruth.com | September 29, 2010
People with a credit score below 620 who want a loan were unlikely to receive even one quote, according to real-estate web site Zillow.com, even if they offered a down payment of 15%-25% for a home. Zillow notes that 29% of Americans have a credit score this low, according to data provided by myFICO.com. “Today’s […]
thestatedtruth.com | September 29, 2010
Thoughts from Art Cashin on the floor of The New York Stock Exchange “The months of May and October have always broken hearts on Wall Street. In fact when I studied under the Moose Head (at Eberlins) it was a frequent subject. Prior to 1929 it was almost logical. We were an agrarian society and […]
thestatedtruth.com | September 28, 2010
The City Council of Harrisburg, capital of Pennsylvania has voted to hire lawyers to explore bankruptcy protection. The City Council voted 5-2 tonight to seek professional advice on bankruptcy or state oversight. Harrisburg needed state aid to avoid default on $3.3 million of bond payments this month. The city, which has 47,000 residents, and has missed […]
thestatedtruth.com | September 28, 2010
September 28,2010 Stephen Ohlemacher Associated Press     WASHINGTON – A group of 47 House Democrats are telling party leaders they want to continue Bush-era tax cuts on investment income, breaking ranks with President Barack Obama and exposing divisions among Democrats over their party’s pre-election message about taxes. The lawmakers, led by Rep. John Adler, D-N.J., have […]
thestatedtruth.com | September 28, 2010
The Conference Board’s sentiment index declined to 48.5 this month, lower than the median forecast of economists surveyed by Bloomberg News and the weakest level since February, according to figures from the New York-based private research group today. In another report home prices cooled, hurt by a slump in sales following the end of a […]
thestatedtruth.com | September 28, 2010
For the first time in at least a century, the proportion of U.S. adults between 25 and 34 who have never been married exceeded those who are married, according to data released Tuesday by the Census Bureau. In 2009, the proportion of adults 25 to 34 who had never been married was 46.3%, compared to 44.9% […]
thestatedtruth.com | September 27, 2010
Heightened Terror Threats In Europe WASHINGTON….. In an effort to preempt a suspected terrorist plot(s) against European targets, the Central Intelligence Agency has targeted missile strikes against militants in Pakistan’s tribal regions, according to current and former officials. The strikes, launched from unmanned drone aircraft, represent a rare use of the CIA drones to preempt a possible […]
thestatedtruth.com | September 27, 2010
It looks like we could have saved the U.S. tax payers a few trillion dollars if the government would have realized the basics of the problems a year and a half ago! New World Thinking: The government can save everything. Reality: The government can’t save anything but will try, in the process it will usually make things worse!  Paul Krugman […]
thestatedtruth.com | September 26, 2010
Let’s be careful what we wish for here, as this sets up a dangerous precedent of a new type of worldwide cyber warfare in the future.  TEHRAN, Iran—A complex computer worm capable of seizing control of industrial plants has affected the personal computers of staff working at Iran’s first nuclear-power station weeks before the facility is to […]
thestatedtruth.com | September 26, 2010
Thoughts from the Frontline Weekly Newsletter  Pushing on a String   by John Mauldin September 24, 2010 In this issue: Pushing on a String Let’s Shift the Focus An Invitation to an Inflation Party Ten Years and Counting This week the Fed altered their end-of-meeting statement by just a few words, but those words have […]
thestatedtruth.com | September 24, 2010
Two years after the financial crisis, the federal government has stepped in to stabilize a crucial part of the credit-union sector knocked down by losses on subprime mortgages. A summary of an article from the Wall Street Journal is reviewed below. Regulators announced Friday a rescue of the nation’s wholesale credit unions, underpinned by a federal guarantee valued at $30 billion […]
thestatedtruth.com | September 23, 2010
The cutoff for the Forbes 400 wealthiest americans list is back up to $1 billion after falling to $950 million last year, and on average they are down about 13% from the high mark a few years ago. Bill Gates, the co-founder of Microsoft Corp., remains the richest American with estimated assets of $54 billion, according […]
thestatedtruth.com | September 23, 2010
Three out of every five Americans are overweight. One in five are obese. Indeed, there are only two areas (one state, Colorado, and Washington DC) where obesity rates are under 20%. Nearly three in four of us don’t get enough sleep. Almost one third of us report having trouble falling asleep EVERY night. And almost […]
thestatedtruth.com | September 23, 2010
According to David Rosenberg of Gluskin Sheff: Wages & salaries are still down 3.7% from the prior peak; Corporate profits are still down 20% from the peak; Real GDP is still down 1.3% from the peak; Industrial production is still down 7.2% from the peak; Employment is still down 5.5% from the peak; Retail sales […]
thestatedtruth.com | September 23, 2010
Is there a message to Congress in this! House Republicans announced a governing agenda today that would cut federal spending, extend expiring tax cuts and repeal the Democrats’ health-care law. The program was released by party leaders at a hardware store in Sterling, Virginia, as Republicans make their case to voters to retake the House […]
thestatedtruth.com | September 23, 2010
Even a temporary lapse in the tax provisions “would essentially wipe out most of the modest growth we expect in the first half of 2011,â€Â Goldman Sachs Letting all of the roughly $270 billion in tax cuts lapse would subtract almost 10 percentage points from annualized disposable income growth in the first quarter of 2011. […]
thestatedtruth.com | September 23, 2010
Sorry, But The Answer Of Too Much Debt Is Not More Debt In Price Is Knowledge If you told Rip van Bondtrader that gold had risen to a record during his decade-long slumber, he’d want to know what the inflation outlook was, and how badly he’d gotten killed on his bond investments. He’d be astonished to […]
thestatedtruth.com | September 23, 2010
This May Be Just The Begining As The Entire World Slows! It’s A Process…..And It Will Likely Take Time To Totally Unfold.  U.S. Jobless Claims Jump The number of U.S. workers filing new claims for jobless benefits unexpectedly rose by 12,000 to 465,000 last week, as labor weakness persists. Ireland GDP Drops Unexpectedly Ireland had a surprise decline in its second-quarter […]
thestatedtruth.com | September 22, 2010
The stock market is now virtually unchanged in 2010, even as almost $80 billion in equity-capital has been withdrawn.  So here is the question: How is this possible? Well….it’s a deep subject and we don’t know! 20’th Consecutive Week Of Outflows Beginning on May 5, there have been 20 consecutive outflows from domestic mutual equity funds. […]
thestatedtruth.com | September 22, 2010
Next up….Currency evolved hyper inflation caused by the Fed’s actions to save the world, as the dollar becomes worth much less and commodities without debt attached go vertical (such as food, gold, silver, farm land etc.).  The only real question seems to be when, not if.  In the U.S. we are trying to work through the legacy of accumulating lots […]
thestatedtruth.com | September 22, 2010
Talk about tough times out there, this shopping habit says it all. Bloomberg: Wal-Mart CEO “I don’t need to tell you that our cusÂtomer remains challenged…You need not go farther than one of our stores on midnight at the end of the month. And it’s real interesting to watch, about 11 p.m. customers start to come […]
thestatedtruth.com | September 21, 2010
From Art Cashin on the floor of the New York Stock Exchange………. China– Getting solid data out of China is never an easy task. The problem raises constant questioning of the validity of any data. That having been said, there are stunning numbers circulating on the real estate situation in China. There are said to […]
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