thestatedtruth.com | August 14, 2010
The Gulf Oil Spill Disaster                                                     By John Mauldin                                                      August 13, 2010                         From Unmitigated Disaster to Merely Disaster First, let’s begin with the “good” news. The ecological destruction that was first feared is not going to be as bad as once thought, for a variety of reasons. It is not good, but it […]
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thestatedtruth.com | August 13, 2010
Alabama is suing BP Plc and Transocean for damages sustained from the Gulf of Mexico oil spill, the state’s attorney general said on Friday. “We are making this claim because we believe that BP has inflicted catastrophic harm on the state,” attorney general Troy King told Reuters. “We are suing them for the amount it […]
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thestatedtruth.com | August 13, 2010
Rosenberg Starts Off In Style: Â “If you don’t believe there’s going to be a double dip, it’s because the first recession never ended. If there is going to be a double dip, the odds are certainly higher than 50-50.”
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thestatedtruth.com | August 12, 2010
The Oil Spill August 12, 2010 It has been over three months since the beginning of the oil spill in the Gulf of Mexico. Since then it has cost billions of dollars in terms of lost jobs, tourism, and the battering that local fishing industries have had to endure. At Cumberland Advisors, we have written […]
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thestatedtruth.com | August 12, 2010
We’re looking at what will likely be a multi year process of cleansing. Debts will have to be paid down, leverage decreased and ultimatly spending will have to be cut too! That will make things even worse. Asset values will continue to fall. At some point in the future the system will complete its debt recycling and […]
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thestatedtruth.com | August 12, 2010
14’th Sequential Week Of Equity Outflows We have now had over one quarter of non-stop redemptions by mutual funds, which means, by end-retail investors. The problem is that now everyone is starting to notice that the market is not supported by anything except momentum manipulation and primary dealer machinations. Per ICI, the week ended August […]
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thestatedtruth.com | August 12, 2010
Jim Sinclair’s Commentary This is simply not going away. There is no practical means by which it can be drained ever! It is growing in a way that is unsustainable by any measure. Rather than being contained we are on the threshold of another round of unprecedented paper money creation. The reason it is happening […]
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thestatedtruth.com | August 12, 2010
GM having a profit has much more to do with GM’s debt being reduced and restructured then about GM’s rising sales.   It’s much like a homeowners budget, to much debt, and there is nothing left for other things. Once the debt becomes more manageable, there will be more money left over at the end, even if the […]
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thestatedtruth.com | August 11, 2010
 08-11-2010  The Mortgage Bankers Association released its weekly numbers and the Market Composite Index, a measure of mortgage loan application volume, was up 0.6% from a week before. Yet despite mortgage rates hitting all time record lows, this number was a reduction from the previous mortgage application change of +1.3%. As the press […]
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thestatedtruth.com | August 11, 2010
By Paul Wiseman, USA TODAY  Just how much should Uncle Sam do to help Americans buy their own homes?For 70 years and for the last 15 in particular the answer has been: Whatever it takes. Now, policymakers are pausing to reconsider. In the next few months, they’ll weigh whether there can be too much […]
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thestatedtruth.com | August 11, 2010
Millions of houses on the verge of foreclosure threaten to send homeownership to its lowest level in 50 years, according to new industry estimates.  Latest projections say the rate could plummet to about 62% as early as 2012 but certainly by the end of the decade. Homeownership rates haven’t been that low since they hit 61.9% in […]
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thestatedtruth.com | August 10, 2010
A deflationary debt spiral is the killer of the American middle class.  Little equity is left because the debt level has stayed basically the same, while most or all their assets including retirement are falling in value.  In total, roughly $7 trillion in U.S. residential real estate values have been lost in the last few years according to the Case […]
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thestatedtruth.com | August 10, 2010
The following chart demonstrates that consumers are retrenching, and “just saying no” to both residential and consumer loans. We also see that Small Businesses has contracted and, that credit demand is collapsing at every avenue of US society. QE, or cheaper money, has and always will be a “push” phenomenon, for which there is simply no […]
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thestatedtruth.com | August 10, 2010
Drought, Fire and Grain in Russia August 10, 2010 By Lauren Goodrich Three interlocking crises are striking Russia simultaneously: the highest recorded temperatures Russia has seen in 130 years of recordkeeping; the most widespread drought in more than three decades; and massive wildfires that have stretched across seven regions, including Moscow. The crises threaten the […]
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thestatedtruth.com | August 9, 2010
Everyone should watch this Video…..Forget your politics, listen to the Words                  http://www.youtube.com/watch_popup?v=qtjfMjjce2Y
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thestatedtruth.com | August 9, 2010
Gene Inger’s Daily Briefing . . . for Tuesday August 10, 2010:  Good evening;     ‘A recessionary relapse’ ……. .is the biggest unreported forecast story of the day. Not by us (though we unfortunately concur but see real risk sooner), but rather from none other than the San Francisco Federal Reserve. I read the key […]
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thestatedtruth.com | August 9, 2010
John Williams of Shadowstats.com uses m-3 velocity of money (or turnover of money) as an important barometer, here is what he is saying now, Williams’ assessment of the economy was spot on in 2008…….. A greater systemic solvency crisis is closer then ever  . . . within the next six months to a year. What is happening […]
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thestatedtruth.com | August 9, 2010
On average, personal income dropped 1.8% in 2009, following a 2.7% increase in 2007, according to the Commerce Departments latest figures. Â
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thestatedtruth.com | August 8, 2010
Can we believe them! Â British Petroleum announced that a test on the cementing operation needed to plug its well in the Gulf of Mexico was successful.
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thestatedtruth.com | August 8, 2010
A chunk of ice four times the size of Manhattan has calved from Greenland’s Petermann Glacier, scientists announced on Friday. The last time the Arctic lost such a large chunk of ice was in 1962. Petermann Glacier, the parent of the new ice island, is one of the two largest remaining glaciers in Greenland that […]
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thestatedtruth.com | August 6, 2010
Bill Gross calls it the new normal, where the consumer becomes a saver. He says artificial consuming i.e. borrow and spend is gone for a long time. Americans cut credit-card use for the 21st straight month in June as static  job growth and a slowing economy turned spenders into savers. The national saving rate, meanwhile, rose, to 6.4%, […]
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thestatedtruth.com | August 6, 2010
Pacific Investment Management Co.’s Bill Gross said the Federal Reserve is unlikely to raise interest rates for two to three years as it seeks to keep the economy from slipping back into recession. Treasury two-year note yields dropped below 0.50 percent for the first time today after the Labor Department said the economy lost more […]
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thestatedtruth.com | August 5, 2010
The 30 year Freddie Fixed Rate Mortgage has just printed under4.50%, at 4.49%: a  new all time record low. Japan has already watched this movie…….It doesn’t matter at what rate the mortgage is, but more importantly for now is the security of having 1) cash flow and 2) a job. Both seem to be in short supply […]
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thestatedtruth.com | August 5, 2010
Hmm…….There really are free lunches! Boston.com says it all: “The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday. Recipients of Supplemental Nutrition Assistance Program subsidies for food purchases jumped 19 percent from a year earlier […]
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thestatedtruth.com | August 5, 2010
These two companies Fannie Mae and Freddie Mac could very well lose money forever! At some point the government has to just say enough of this and either shut both of them down, or require higher down payments on home purchases to protect their assets. Simple as that!  By  Lorraine Woellert         Thursday August 05, 2010 Fannie Mae, […]
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thestatedtruth.com | August 5, 2010
 Thu Aug 5, 2010 * Postal Service concerned with future liquidity * Says regulatory changes necessary for fiscal stability By Jasmin Melvin WASHINGTON, Aug 5 (Reuters) – The U.S. Postal Service reported a quarterly net loss of $3.5 billion on Thursday and said it will likely have a cash shortfall going into 2011. The […]
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thestatedtruth.com | August 5, 2010
Jim Sinclair says….Nothing has been cured and the potential for a second and more shocking economic event is real and in the present time! Posted August 05, 2010    By Min Zeng NEW YORK (Dow Jones)–The total outstanding notional amount for all interest rate derivative transactions reported by the 14 major dealers including Goldman Sachs & […]
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thestatedtruth.com | August 5, 2010
By Tami Luhby, Senior Writer Posted August 5, 2010 NEW YORK (CNNMoney.com) — The Senate overcame a key procedural hurdle Wednesday to send $26 billion more in federal aid to cash-strapped states. The measure, which passed by a 61-38 vote, contains $16.1 billion in additional Medicaid money and $10 billion to prevent layoffs of teachers […]
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thestatedtruth.com | August 4, 2010
By LOLITA C. BALDOR Associated Press Writer= WASHINGTON (AP) — Computer hackers have begun targeting power plants and other critical operations around the world in bold new efforts to seize control of them, setting off a scramble to shore up aging, vulnerable systems. Cyber criminals have long tried, at times successfully, to break into vital […]
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thestatedtruth.com | August 4, 2010
Well plugged…..Let’s hope so. ON THE GULF OF MEXICO — In a significant step toward stopping the worst offshore oil spill in U.S. history, BP said Wednesday mud that was forced down its blown-out well was holding back the flow of crude in the Gulf of Mexico and it was in a “static condition.” There is […]
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thestatedtruth.com | August 4, 2010
General Motors Co. and Ford Motor Co. reported U.S. sales in July that trailed analysts’ estimates as consumers concerned about the economy limited large purchases. Toyota Motor Corp. and Nissan Motor Co. topped expectations. GM’s sales rose 1.5 percent, including an adjustment for the number of selling days in July. On that basis, the largest […]
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thestatedtruth.com | August 4, 2010
Contracts for pending sales of previously owned U.S. homes fell to a record low in June as buyers sat on the sidelines, a survey from the National Association of Realtors showed on Tuesday. The June decline followed a 30 percent drop in May after a popular tax credit expired at the end of April. The […]
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thestatedtruth.com | August 4, 2010
By Bloomberg News – Aug 4, 2010 China’s banking regulator told lenders last month to conduct a new round of stress tests to gauge the impact of residential property prices falling as much as 60 percent in the hardest-hit markets, a person with knowledge of the matter said. Banks were instructed to include worst-case scenarios […]
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thestatedtruth.com | August 3, 2010
Earth is bracing for a cosmic tsunami Tuesday night as tons of plasma from a massive solar flare head directly toward the planet. The Sun’s surface erupted early Sunday morning, shooting a wall of ionized atoms directly at Earth, scientists say. It is expected to create a geomagnetic storm and a spectacular light show — […]
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thestatedtruth.com | August 3, 2010
Las Vegans  just lived through the hottest month ever. The high reached triple digits every day in July, and the heat hung on through the night to push last month into record territory. According to the National Weather Service, July’s average temperature of 96.2 degrees was the highest of any month since record keeping began […]
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thestatedtruth.com | August 3, 2010
From Art Cashin on the floor of the New York Stock Exchange Longtime readers know that for years we’ve been remarking on the unusual lack of solar activity. Well, the sleeping sun woke up Sunday and woke up in a big way. Here’s a bit of detail from Spaceweather.com: COMPLEX ERUPTION ON THE SUN: On […]
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