thestatedtruth.com | September 20, 2010
“An incredible 14% of the nearly 54 million first liens in the country are now either delinquent or in default” the Real Estate Channel’s Keith Jurow, observes. “To come up with a total for the shadow inventory, let’s first add the total number of loans in default to those delinquent 90 days or more since […]
thestatedtruth.com | September 20, 2010
According to calculations from the Federal Reserve, household wealth tumbled a whopping $17 trillion during the crisis – or about 27%. Since the depths of the crisis, however, Americans have recovered about $5 trillion of household wealth. Only $12 trillion to go! For perspective, $12 trillion is nearly equal to one year’s US GDP. It’s […]
thestatedtruth.com | September 18, 2010
thestatedtruth.com | September 18, 2010
The End of Social Security As We Know It By Ian Mathias Baltimore, Maryland On September 30, America will quietly begin a generational shift. This will be the final day of the government’s fiscal year 2010, and consequentially, a very notable day for Social Security. September 30 will be the last day – maybe for […]
thestatedtruth.com | September 18, 2010
Gary Shilling In terms of spending and saving, note that whatever has been going on in the consumer arena has been supported by massive federal stimuli. Those stimuli may persist at near current levels in future years due to chronic high unemployment, as noted in earlier Insights, but seems unlikely to rise at the rates […]
thestatedtruth.com | September 18, 2010
By Gary Shilling Consumers Go On Strike It wasn’t until late 2008 that we had the collapse in home equity as house prices nosedived (Chart 2), rising layoffs (Chart 3) and the drying up of consumer lending drove consumers into retrenchment. But they suddenly went on a buyers strike in the last four months of 2008, […]
thestatedtruth.com | September 17, 2010
The median expected investment return for more than 100 U.S. public pension plans surveyed by the National Association of State Retirement Administrators remains 8%, the same level as in 2001  “It’s unrealistic,” according to John Bogle, founder of mutual fund giant Vanguard.  He says the return assumptions in place at most pension plans can’t be meet. […]
thestatedtruth.com | September 17, 2010
By Bloomberg News September 17, 2010 The best returns in commodities over the next 12 months will probably be in energy and the biggest losses in agriculture, Goldman Sachs Group Inc. said. The bank is forecasting a 27 percent advance in energy over 12 months, a 17 percent jump in precious metals and a 15 […]
thestatedtruth.com | September 17, 2010
What happened to the recovery everyone was talking about a few months ago? Inquiring minds want to know! California’s unemployment rate rose to a three-month high of 12.4 percent in August as non-farm payrolls lost 33,500 jobs, the California Employment Development Department said. The jobless rate increased from 12.3 percent in July, the department said […]
thestatedtruth.com | September 17, 2010
Maybe the government isn’t reading the room, how can anyone say the consumer sentiment drop was unexpected! Confidence among U.S. consumers unexpectedly dropped to a one-year low in September, indicating the biggest part of the economy is being held back by a struggling labor market. The Thomson Reuters/University of Michigan preliminary index of consumer sentiment fell to […]
thestatedtruth.com | September 17, 2010
Key words here: Households managed to pare down their debts for the ninth-straight quarter, largely by defaulting on mortgages and credit-card debts. The Federal Reserve reported Friday that household net worth—stocks, bonds, homes and other assets, minus mortgages and other debts—fell 2.8% to $53.5 trillion in the second quarter, driven by a sharp decline in […]
thestatedtruth.com | September 16, 2010
The median household income in the United States is $46,326. That means 50 percent of our population lives on $46,326 or less a year. Dual earner households have a higher median income at $67,348. To highlight this discrepancy, here is a chart showing how the household income is distributed: More at: http://www.mybudget360.com/how-much-does-the-average-american-make-breaking-down-the-us-household-income-numbers/
thestatedtruth.com | September 16, 2010
While the world is expected to reduce emissions to 50% by 2050 in the BLUE scenario, it is the OECD that will bear the real burden. Non- OECD countries can get away with just a 50% reduction; OECD countries are looking at cutting 70-80% of their 2007 emissions. This would mean that the electricity sector for […]
thestatedtruth.com | September 16, 2010
Incomes for the average U.S. household fell slightly last year after  substantial government aid and actions of families doubling up and young adults moving in with their parents muted the impact of the worst recession since the 1930s, the Census Bureau said Thursday. The bureau’s annual snapshot of American living standards also found that the fraction of Americans […]
thestatedtruth.com | September 16, 2010
U.S. home seizures reached a record for the third time in five months in August as lenders completed the foreclosure process for thousands of delinquent owners, according to RealtyTrac Inc. Bank repossessions climbed 25 percent from a year earlier to 95,364, the most since the Irvine, California-based data provider began keeping records. “We’re on track […]
thestatedtruth.com | September 15, 2010
Bloomberg     09-15-2010 The slide in U.S. home prices may have another three years to go as sellers add as many as 12 million more properties to the market. Shadow inventory — the supply of homes in default or foreclosure that may be offered for sale — is preventing prices from bottoming after a 28 percent […]
thestatedtruth.com | September 15, 2010
ICI’s latest data discloses that in the week ended September 8, domestic funds saw outflows of $2.2 billion, following last week’s massive $7.7 billion. And ETFs experienced outflows as well. So far September has experienced nearly $10 billion in outflows, even as the market has ramped by over 6%. This is the 19th sequential outflow […]
thestatedtruth.com | September 15, 2010
The funded status of the 100 largest corporate defined benefit pension plans dropped by $108 billion during August 2010 as measured by the Milliman 100 Pension Funding Index (PFI). The funded status decrease was primarily due to a significant decrease in corporate bond interest rates that are the benchmarks used to value pension liabilities. Though […]
thestatedtruth.com | September 14, 2010
U.S. Retail Sales came essentially in line with consensus at 0.4% versus expectations of 0.3%. The previous number was revised from 0.4% to 0.3%.  Auto sales dropped both M/M and Y/Y. From the Census Report: The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for August, adjusted for […]
thestatedtruth.com | September 14, 2010
A $108 Billion Deterioration In ONE MONTH www.zerohedge.com     09-14-2010 According to actuarial and consulting firm Miliman, in August 2010, the funded status of the 100 largest defined benefit pension plans sponsored by U.S. companies dropped by $108 billion to a 10-year low of 70.1%. Yes, that’s a $100 billion + deterioration in one month! The […]
thestatedtruth.com | September 14, 2010
Nearly half of all Americans live in a household in which someone receives government benefits.  This is more than at any time in history. Making matters even worse, the number of American households not paying federal income taxes has also grown—to an estimated 45% in 2010, from 39% five years ago, this according to the Tax Policy Center.  […]
thestatedtruth.com | September 14, 2010
September 14, 2010 | 0856 GMT Â By George Friedman We are now nine weeks away from the midterm elections in the United States. Much can happen in nine weeks, but if the current polls are to be believed, U.S. President Barack Obama is about to suffer a substantial political reversal. While we normally do […]
thestatedtruth.com | September 13, 2010
thestatedtruth.com | September 13, 2010
Additionally there are also other systems of concern in the basin, such as Julia farther east and the possibility of Karl forming in the disturbed weather currently in the Caribbean. Igor continued on a strengthening phase into Monday. The last Category 5 hurricane in the Atlantic was Felix in 2007. That season yielded two Category […]
thestatedtruth.com | September 13, 2010
So what will bolt from the gate fastest Stocks, Bonds or could Gold and Silver lead the way? The New York Fed has just disclosed it will buy $27 billion in Treasurys between mid-Sept and mid-October. Using the Basel III blessed 30x leverage, this money, once it makes its way to the Primary Dealers, should be […]
thestatedtruth.com | September 13, 2010
From John Williams of shadowstats.com……… – Protracted Economic Downturn Re-Intensifies – Systemic Stability: “Tap-Dancing on a Land Mine” – Risks of U.S. Dollar Instability and Systemic-Salvation Efforts Pose         Severe Inflation Threat www.shadowstats.com
thestatedtruth.com | September 13, 2010
Hmm, this is a rather stunning study to say the least. And people wonder why there is a flight from equities into bonds. 09-13-2010 The latest Abel/Noser analysis has been released and according to the data analytics firm just 112 stocks now account for half of the day’s volume, the top 20 stocks account for 26% […]
thestatedtruth.com | September 12, 2010
09/12/2010 Scientific American has done a summary of peak commodity levels as well as depletion projections for some of the most critical resources in the world including oil, gold, silver copper, not to mention renewable water, as well as estimating general food prices over the next half century. Generally speaking, regardless of whether one believes […]
thestatedtruth.com | September 12, 2010
Nice to know that someone is on the job! WASHINGTON   Treasury Secretary Timothy Geithner said Washington can under cut an already slow economic recovery if it fails to provide quick support to business and individuals. “If the government does nothing going forward, then the impact of policy in Washington will shift from supporting economic growth […]
thestatedtruth.com | September 11, 2010
If not for record low interest rates, the Debt Service Ratio chart below would look a lot different! The consumer, and why the expectation (and reality) of deflation will keep U.S. buyers subdued, and continue to make the US economy ever more reliant on the government’s transfer payment, aka welfare, program. A very simple illustration of the […]
thestatedtruth.com | September 11, 2010
FDIC’s Bair Warns of Government “Exposure” in Mortgages WASHINGTON (Reuters) – A key U.S. banking regulator raised concern on Wednesday about the risk of “exposure” the government is taking on in the mortgage market and urged more stringent standards for underwriting mortgages. “We should all be concerned about the type of exposure that the government […]
thestatedtruth.com | September 10, 2010
 More: http://www.moneytalks.net/images/stories/August_26/Psychological-Stages-of-a-RE-Bubble-Market1.png
thestatedtruth.com | September 10, 2010
Interesting fact…..stock market REIT ‘s (Real Estate Investment Trusts) are trading at near record highs. Of the $3.1 billion new delinquencies in August, $1.1 billion (36%) corresponded to hotel-backed loans, pushing the hotel-specific delinquency rate past 20%. Current delinquency rates by property type are as follows: –Hotel: 20.80% (from 18.64%) –Multifamily: 14.18% (from 13.87%) –Retail: […]
thestatedtruth.com | September 9, 2010
Shifting Demographics A factor affecting demand is shifting demographics. The Baby Boomer generation is no longer the consumption engine it has been to the US economy.  We have a generation that, as has been predicted for some time, is reducing its expenses but it may be even more dramatic than forecasted. With home housing […]
thestatedtruth.com | September 9, 2010
September 9, 2010 By Scott Stewart and Nate Hughes  Over the past decade there has been an ongoing debate over the threat posed by electromagnetic pulse (EMP) to modern civilization. This debate has been the most heated perhaps in the United States, where the commission appointed by Congress to assess the threat to the […]
thestatedtruth.com | September 8, 2010
Here is the key to this….In tracking mutual fund redemptions, net cash liquidity is now down to just 3.5% of assets. This is very negative data for the stock market. Domestic equity mutual funds saw $7.5 billion in outflows, it’s the biggest one week outflow since the $13.4 billion redeemed in the week of the Flash Crash. It’s […]
thestatedtruth.com | September 8, 2010
After two months of moderated growth in delinquent loans backing commercial mortgage-backed securities (CMBS), the delinquency rate in August increased 21 basis points to 8.92%, according to the analytics firm Trepp. It’s an increase from the 8.71% measured in July and another new record. The August delinquency rate is more than double the 4.03% rate […]
thestatedtruth.com | September 8, 2010
Between 1974 and 1982 nominal stock prices drifted slowly higher as corporate earnings picked up; thereby compressing valuations and ending the bear-market. But from the current look of things we are a ways from that outcome.   Â
thestatedtruth.com | September 8, 2010
Sounds like a hybred communist capitalist system is coming to Cuba soon. Maybe they will look to the Chinnese model for guidence! HAVANA   Fidel Castro told a visiting American journalist that Cuba’s communist economic model doesn’t work, in a rare comment on domestic affairs. Jeffrey Goldberg, a national correspondent for The Atlantic magazine, asked if Cuba’s […]
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