Let’s Not Forget What Warren Buffett Said…..Financial Derivatives Are Weapons Of Mass Destruction! Next Up, Interest Rate Derivatives
thestatedtruth.com | May 8, 2010
Beware Of The Mortgage Modification Plan….Foregiven Debt Is Taxed As Income In Most Cases
thestatedtruth.com | May 8, 2010
Though not every homeowner who’s underwater on a mortgage need worry, many are finding that a foreclosure or other form of housing loss can lead to a big tax obligation. As the U.S. economy continues struggling with the fallout of the debt-induced housing crisis, millions of homeowners like Ms. McDaniel are discovering that their decision […]
Why The Center Cannot Hold……John Mauldin’s “Outside The Box”
thestatedtruth.com | May 7, 2010
Risks associated with the fiscal deficits. And by the way, we should note that 25 of 27 European countries are running deficits in excess of 3% of GDP. Ireland has a deficit of 14.3%. Portugal is at almost 10%. Greece is almost 14%. Here is a table from Variant Perception in London, from data from […]
The Credit Default Swaps “Roulette Wheel”…..Jim Sinclair Shares His Opinion
thestatedtruth.com | May 7, 2010
The solution is the problem. “Main Street is in the hands of a Roulette Wheel.”  The name of the “Roulette Wheel” is Credit Default Swaps. It does not matter what the G-7 or the G-20 does. It does not matter what the IMF, ECB and Fed under a beard do. Mrs. Merkel’s foolish political […]
European Debt Turmoil
thestatedtruth.com | May 7, 2010
The Globe and Mail in Toronto put together a good visual (below) on how financially exposed the larger and stronger economies of Western Europe are to the region’s teetering nations. Think of all the turmoil caused by Greece – the external debt load of Spain and Ireland together is more than eight times greater.
The ABC’s Of Trading…..B For Billion Is Different Than M For Million
thestatedtruth.com | May 6, 2010
If  True……….. According to ForexLive, a big error at a major trading firm caused today’s -1,000 point market crash, before staging a huge come back. ForexLive: “Major US bank had an order to sell $15 mln of S&P e-mini contracts.   Accidentally sold $15 bln…†Update: CNBC is now reporting that a trader entered a “b†for […]
Arnott: Odds Of Double-Dip Recession Better Than 50%
thestatedtruth.com | May 5, 2010
Research Affiliates chairman, along with BlackRock’s Dennis Stattman, paint a gloomy picture of U.S. economy; prepare clients ‘to weather the storm’.  The U.S. economy could well be headed for another downturn and advisers should be helping clients find opportunities overseas and in alternative-asset classes, two well-known investment managers said Tuesday. Our basic problem as a […]
Greeks Protest EU Austerity Plan
thestatedtruth.com | May 5, 2010
So what happens when you take away entitlements that the Greeks have had for years?……….We here in the United States should take notice, because our time is coming and it will forced upon us by those that own our debt, at the moment China sits high on that list.       By Maria Petrakis and Natalie Weeks […]
Freddie Mac Seeking Another $10.6 Billion
thestatedtruth.com | May 5, 2010
The government owned businesses are the only ones we’ve ever heard of that will never break even or make money, but still manage to stay around, even though they have a monopoly on things.  By Lorraine Woellert May 5 (Bloomberg) — Freddie Mac, the mortgage-finance company in government conservatorship, said it will need $10.6 billion […]
International Intrigue In The Gulf Of Mexico?
thestatedtruth.com | May 4, 2010
Interesting musings from the Inger Letter’s Gene Inger……………this is one bizarre report regarding international intrigue and the Gulf of Mexico oil disaster. The White House ordered a news blackout on the story!  There is a circulating story about what really happened in the Gulf of Mexico; which we would give no credence to at […]
The Real Story Is Americans Have The Lowest Level Of Housing Equity In Nearly 60 Years:
thestatedtruth.com | May 3, 2010
As of today, over 7 million current mortgage holders are 30+ days late or in some stage of foreclosure. This is at peak levels. And part of the reason why after 27 months of this recession and trillions in bailouts to Wall Street and banks, not much has changed on the housing front. Wall Street […]
The $3 Trillion Commercial Real Estate Problem
thestatedtruth.com | May 3, 2010
Commercial real estate pushes $7.4 billion in FDIC Losses in one day – Hard to hear the CRE collapse with investment banks finally being called out in the court of public opinion. $3 trillion CRE market will keep Fridays busy for the FDIC.  Posted: Mon, 03 May 2010 The $3 trillion commercial real estate […]
Hurricane Forecasters See One Of The Worst Seasons In History Looming In 2010 Atlantic Season As Meteorological Conditions Mirror 2005
thestatedtruth.com | May 3, 2010
 By Brian K. Sullivan May 4 (Bloomberg) — The 2010 Atlantic hurricane season may rival some of the worst in history as meteorological conditions mirror 2005, the record-breaking year that spawned New Orleans- wrecking Katrina, forecasters say. The El Nino warming in the Pacific is fading and rain is keeping dust down in Africa, […]
Commercial Paper In Free Fall
thestatedtruth.com | May 2, 2010
Here Are Some Comparisons Of The Exxon Valdez Tanker Spill Back In 1989 Vs. The Horizon Deepwater Blowout Currently
thestatedtruth.com | May 2, 2010
Here are the comparisons of the Exxon Valdez tanker spill vs. the Deepwater Horizon well blowout…………..If the 25,000 barrel-a-day estimate is accurate (it may turn out to be conservative) and the leak lasts for 90 days, that would total 2.25 million barrels, or 94.5 million gallons vs. 11 million gallons for the Exxon Valdez tanker disaster. The […]
Last Weeks Bank Closings
thestatedtruth.com | May 2, 2010
The information on this week’s bank closings is staggering. The FDIC announced seven closings as of April 30, 2010, at 9:00 pm EST. The seven banks’ combined assets amount to $25.83 billion. They had combined deposits of $19.61 billion. The FDIC is projecting losses of $7.33 billion in connection with the seven closings. That is […]
ABC’s Of The Goldman Sachs Synthetic Derivative CDO’s…..
thestatedtruth.com | May 2, 2010
From John Mauldin’s Thoughts from the Frontline Weekly Newsletter Normally, you think of a Collateralized Debt Obligation (CDO) as a pool of mortgages. This pool is broken into anywhere from 6 to 15 tranches. The highest-rated tranches get their money back first, and the rating agencies made them AAA. While the lowest level would be […]
Oil Slickonomics, A Disaster For The Ages
thestatedtruth.com | May 2, 2010
Oil Slickonomics May 2, 2010 “At its current leak rate of 5,000 barrels of oil per day, the spill could surpass the size of the 1969 Santa Barbara spill by next week. If the leak cannot be contained, it could exceed the size of the 1989 Exxon Valdez oil spill off Alaska by mid June.â€Â   Paul […]
U.S. Role in Mortgage Market Reaches 96.5% Of All Home Loans
thestatedtruth.com | April 30, 2010
By NICK TIMIRAOS The U.S. government’s massive share of the nation’s mortgage market grew even larger during the first quarter. Government-related entities backed 96.5% of all home loans during the first quarter, up from 90% in 2009, according to Inside Mortgage Finance. The increase was driven by a jump in the share of loans backed […]
John Williams Of “Shadowstatistics” Is A Specialist In Government Economic Reporting….He Says We’re Going To See An Intensified Downturn In The Near Future!
thestatedtruth.com | April 30, 2010
Everyone should take the time to read this, which is part of a broader interview done on April 30 . This will also effect interest rates.  ShadowStats’ John Williams has done his math and believes his numbers tell the truth. He explains why the U.S. is headed for or in a depression and why a […]
Gordon T. Long Reviews Interest Rate Swap Deals That Have Become Problematic…..How About The $437 Trillion In Interest Rate Swaps Outstanding
thestatedtruth.com | April 30, 2010
PRIMA FACIA – WHERE IS UNCLE SAM? I have written extensively about the unregulated, non-exchange traded, offshore, off balance sheet (OTC) $605 Trillion derivatives market and specifically about the $437 Trillion Interest rate swap market. In Sultans of Swap: the Getaway I laid out some of the court actions taking place throughout Europe and the […]
This Explains Where The U.S. Stands In The “Misery” Index
thestatedtruth.com | April 30, 2010
http://home.comcast.net/~lcmgroupe/2010/Article-Extend_Pretend-Uncle_Sam_You_Sly_Devil.htm
Here In Lies The Potential Problem
thestatedtruth.com | April 30, 2010
THIS IS CRITICAL…………….THE BALANCING ACT Â http://home.comcast.net/~lcmgroupe/2010/Article-Extend_Pretend-Uncle_Sam_You_Sly_Devil.htm
Ravitch: New York Deficit Could Swell To $15 Billion Next Year
thestatedtruth.com | April 30, 2010
The next crisis in the U.S. will likely be state and municiple debt problems.   33 states of the USA are headed for bankruptcy.  By Bob Hennelly NEW YORK, NY April 29, 2010 New York’s $9.2 billion budget deficit is expected to balloon to $15 billion next year, according to Lt. Gov. Richard Ravitch. Speaking […]
Greek Bailout Cost To The U.S.
thestatedtruth.com | April 30, 2010
Thought For The Day The cost for a Greek bailout to the citizens of the US via the IMF will be $100 billion. Now there is a nice addition to the Federal Budget Deficit. www.jsmineset.com
Oil Disaster…..Navy And Other Defense Department Resources Investigating
thestatedtruth.com | April 29, 2010
The Oil slick disaster, besides being a detriment to intended drilling projects, remains a mystery with respect to ‘cause’. Of course the dispatch of Navy and other Defense Department resources will be seen in the proper light of being helpful; while we ponder whether they’re investigating just in case something else happened; given the rig […]
Secret Meetings…..So What’s On The Agenda?
thestatedtruth.com | April 29, 2010
Information is circulating of a secret meeting between U.S. and Egyptian as well as Israeli defense officials, as well as even the Palestinians asking the Chinese to back-off working with Iran; because of growing concern that Iran now seeks triggering a false reason for conflict, perhaps within the next three-four months or so. Egypt in […]
The Set-Up For Higher Food Prices
thestatedtruth.com | April 29, 2010
No bats and no bees means an increase in food prices, plain and simple! Honeybee-Colony Losses Widened Last Winter, USDA Says Dwindling phosphorus supply, and important component of fertilizers, and decline bee populations suggest higher food prices. Managed colonies lost to all causes reached 33.8 of the total, compared with 29 percent a year earlier […]
Bond Rally Teeters As Yield Spreads Blow Out, Interest Rates Set To Rise
thestatedtruth.com | April 29, 2010
By Bryan Keogh and Sonja Cheung April 29 (Bloomberg) — The record rally in corporate bonds is showing signs of cracking, with yields rising the most in 13 months relative to government debt and new sales falling to the least this year. The extra interest investors demand to own company debentures rather than government debt […]
Wall Street Faces Capital Shortfalls Of As Much As $250 Billion From Banking Bill
thestatedtruth.com | April 29, 2010
By Dawn Kopecki April 29 (Bloomberg) — JPMorgan Chase & Co. and Goldman Sachs Group Inc. are among U.S. investment banks that may be forced to raise an additional $250 billion in capital, cut executive pay and divest some of their most lucrative assets under a bill on the U.S. Senate floor today, analysts say. […]
Three Points of View: The United States, Pakistan and India
thestatedtruth.com | April 28, 2010
April 28, 2010  By Peter Zeihan In recent weeks, STRATFOR has explored how the U.S. government has been seeing its interests in the Middle East and South Asia shift. When it comes down to it, the United States is interested in stability at the highest level — a sort of cold equilibrium among the region’s […]
Banks Bet Against U.S. Cities And States With Derivatives Using Credit Default Swaps
thestatedtruth.com | April 27, 2010
Banks Bet Against U.S. Cities, States First Posted: 04-27-10 Amidst growing pessimism about the financial condition of U.S. cities and states, investors are increasingly buying financial instruments that essentially allow them to short sell or bet against cities and states, says a Wall Street Journal report. Offered by banks like JP Morgan, Bank of America, […]
A Sign Of The Times….Hundreds Camp Out For Job Opportunities In Queens
thestatedtruth.com | April 27, 2010
Some Arrived As Early As Friday Armed With Blankets Hoping To Get 1 Of 750 Applications For Elevator Industry Job  Apr 27, 2010 By KATHRYN BROWN, CBS 2 HD News NEW YORK (CBS) ― An application to work for the Joint Apprentice & Training Committee of the Elevator Industry was handed out to hundreds of […]
Pension Pains: States Cut Benefits
thestatedtruth.com | April 27, 2010
Pension Pains: States Cut Benefits to Skirt Massive Funding Shortfall Illinois Teachers Complain; California Latest State to Push for Pension Reform  By DALIA FAHMY Apr. 26, 2010 Dan Montgomery doesn’t have many kind words for his elected officials. The high school English teacher from Skokie says Illinois politicians spent years neglecting their obligations to […]
A Flaming Greece
thestatedtruth.com | April 26, 2010
Cost of Insuring Greek Debt Soars To A New Record….Hmm, And They Said The Greek Save Was A Slam Dunk. We Ask This Question Again…..Why Would Anyone Ever Believe These Guys!
thestatedtruth.com | April 26, 2010
BY KATIE MARTIN AND MICHAEL WILSON LONDON—Hopes that Greece’s formal request for international financial aid might help stabilize the financial markets are proving short-lived Monday, with the cost of insuring Greek debt against default soared to a new record. The euro also took a dive, after briefly rebounding from a 12-month low of $1.32 against […]
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