thestatedtruth.com | March 19, 2010
Military Priorities in Afghanistan  Gen. David Petraeus, commander of U.S. Central Command, testified before the House and Senate Armed Services Committees in Washington this week, saying that military progress in Afghanistan will be difficult this year. Afghan security officials recently have issued similar warnings, noting that the number of violent assaults is likely to […]
thestatedtruth.com | March 18, 2010
Mar 18, 2010 6:16 am US/Eastern NEW YORK (CBS) ― For hundreds of thousands of New Yorkers, the check won’t be in the mail — at least not on time. New York State has stopped paying tax refunds and won’t start again until next month. The tax refund delay is part of a bigger cash […]
thestatedtruth.com | March 17, 2010
By Tim Catts and Sarah Mulholland March 17 (Bloomberg) — SLM Corp., the largest U.S. student-loan company, raised $1.5 billion in the bond market, paying more than it charges some borrowers to begin addressing $11 billion of bonds maturing through next year. Sallie Mae, as the company is known, sold $1.5 billion of 8 percent […]
thestatedtruth.com | March 17, 2010
thestatedtruth.com | March 17, 2010
On this day in the year of our Lord 389, there lived a foin broth of a lad who was…. dependin’ on the boyographer ye read: a Spanish peasant, a French herdschild, a Celt from Bannavem or a Gael from Dumbarton, Scotland. At any rate, at age 16 this lad was kidnapped by pirates and […]
thestatedtruth.com | March 16, 2010
Pink Slips Sent To Thousands Of Calif. Teachers By ROBIN HINDERY, Associated Press Writer Monday, March 15, 2010 California’s budget crisis could cost nearly 22,000 teachers their jobs this year. State school districts had issued 21,905 pink slips to teachers and other school employees by Monday, the legal deadline for districts to send preliminary layoff […]
thestatedtruth.com | March 16, 2010
Moody’s fears social unrest as AAA states implement austerity plans The world’s five biggest AAA-rated states are all at risk of soaring debt costs and will have to implement austerity plans that threaten “social cohnesion”, according to a report on sovereign debt by Moody’s. By Ambrose Evans-Pritchard Published: 6:48PM GMT 15 Mar 2010 The US […]
thestatedtruth.com | March 16, 2010
Is It A Bluff Or Is It Battle Preparation? – Several blogs have picked up on reports that the U.S. may be transferring “bunker-buster bombs†to a base in the Indian Ocean. Here’s a part of a story in the Sunday Herald of Scotland: Hundreds of powerful US “bunker-buster†bombs are being shipped from California […]
thestatedtruth.com | March 16, 2010
When Money Supplies Go Wild! Â Â Â Â Â Â Â Â Â Â By James Turk The US money supply is much bigger than the official numbers indicate…$1.25 trillion bigger, to be exact. If you care about the value of the dollars in your pocket, this information should matter greatly to you. As the financial crisis has unfolded over the last two […]
thestatedtruth.com | March 16, 2010
 . Germany: Mitteleuropa Redux By Peter Zeihan | March 16, 2010 The global system is undergoing profound change. Three powers — Germany, Iran and China — face challenges forcing them to refashion the way they interact with their regions and the world. We will explore each of these three states in detail in our […]
thestatedtruth.com | March 15, 2010
For the last two years, Gallup has been asking 1,000 Americans every day how much they’ve been spending at stores, restaurants, gas stations, and online. The average for upper-income households–those with incomes above $90,000–in February plunged to a new low of $98, down 13% from January. The numbers aren’t seasonally adjusted, so the monthly changes […]
thestatedtruth.com | March 13, 2010
thestatedtruth.com | March 13, 2010
From Barron’s “The municipal-bond market, for one, seems vulnerable to the growing public pension mess. Warren Buffett, in his 2007 Berkshire Hathaway annual report, inveighed against the “woefully inadequate” funding in many public pension funds to meet “huge” promised payments to retirees. True to his word, Buffett has sold precious little municipal-bond insurance in a […]
thestatedtruth.com | March 13, 2010
Source: TGRÂ Â 03/12/2010 Â Charismatic, articulate, contrary and persuasive, Rick Rule probably could draw an audience if he were talking about the weather. But combine his presence with character, knowledge, understanding, experience and a track record of success, particularly in the resource arena, and the crowd falls silent. People listen to what Rick has to say and, […]
thestatedtruth.com | March 13, 2010
Cumberland Advisors What Is He Thinking? March 12, 2010 Bob Eisenbeis is Cumberland’s Chief Monetary Economist. Prior to joining Cumberland Advisors he was the Executive Vice President and Director of Research at the Federal Reserve Bank of Atlanta. Bob is presently a member of the U.S. Shadow Financial Regulatory Committee and the Financial Economist Roundtable. […]
thestatedtruth.com | March 11, 2010
Silverstein May Default on Debt for 575 Lexington By Brian Louis and David M. Levitt March 10 (Bloomberg) — New York developer Larry Silverstein, who teamed with the California State Teachers Retirement System to buy a 35-story skyscraper in 2006, now faces “imminent default†on debt tied to the property, Fitch Ratings said today. Silverstein […]
thestatedtruth.com | March 11, 2010
Here‘s a rundown of average income tax rates for 10 high-tax countries, based on information from the Organisation for Economic Co-Operation and Development. The data are for 2008, the most recent numbers available.  10. Australia Income tax rates: Single, no child: 22.6% Single, two children: 22.6% One-earner married couple, no child: 19.1% One-earner married couple, two children: […]
thestatedtruth.com | March 11, 2010
From Art Cashin on the floor of the New York Stock Exchange………A little color on state bankruptcy procedures.  California And Bankruptcy – Earlier this week Slate ran an informative piece explaining why California can’t go into bankruptcy. The simple reason is that there is no law to allow it to do so. Here’s a […]
thestatedtruth.com | March 10, 2010
thestatedtruth.com | March 10, 2010
Pimco’s El-Erian Says Public Finance Shock May Deepen By Garfield Reynolds March 11 (Bloomberg) — Mohamed A. El-Erian, whose company runs the world’s biggest mutual fund, said deteriorating public finances around the world may affect the global economy more than is currently realized. “The importance of the shock to public finances in advanced economies is […]
thestatedtruth.com | March 10, 2010
The response to slumping gasoline use would likely mean higher prices for drivers.   Some of the nation’s biggest oil companies are looking at permanently reducing how much gasoline and diesel fuel they make, a move that analysts say would almost certainly trigger higher prices for drivers. Energy companies are suffering huge losses from refining […]
thestatedtruth.com | March 10, 2010
There are two considerations here……. 1. Wall Street owns Washington and derivatives are their main source of income. That makes it doubtful that meaningful changes will occur. Â 2. The argument will be that they did not play the euro short via CDS pressure on debt. They are correct. They played the debt itself short. Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â […]
thestatedtruth.com | March 10, 2010
From Art Cashin on the floor of the NYSE……… On this day in 1349, in the midst of the infamous Black Plague epidemic, the forces of government, science and academia came together with a plan to save the people. As you recall from earlier episodes, the Black Plague had spread from the eastern Mediterranean throughout […]
thestatedtruth.com | March 9, 2010
China’s Challenge March 9, 2010 | 0958 GMT  By Jennifer Richmond and Rodger Baker China’s National People’s Congress (NPC) remains in session. As usual, the meeting has provided Beijing an opportunity to highlight the past year’s successes and lay out the problems that lie ahead. On the surface at least, China has shown remarkable […]
thestatedtruth.com | March 9, 2010
It is happening everywhere. There is no way out that supports political expedience other than “QE to infinity.” If the Fed doesn’t play ball they are history. The shot caller is political expediency.          Jim Sinclair Top Bell aide says Toledo likely to face ‘fiscal emergency’ Potential strategy to secure labor concessions disputed. By IGNAZIO […]
thestatedtruth.com | March 9, 2010
EU, Merkel Urge Swap Regulation as Greece Takes Plea to U.S. By Rainer Buergin and Ben Moshinsky March 9 (Bloomberg) — The European Union’s top regulatory official said the bloc will consider banning “purely speculative†credit-default swaps as German Chancellor Angela Merkel called for a crackdown on derivatives trading to prevent a rerun of the […]
thestatedtruth.com | March 9, 2010
SULTANS OF SWAP:  Fearing the Gearing! Ever imagine getting your tie caught in a mechanical set of gears (sorry ladies – but I will spare you). The results are nasty! Now you know what the Sultans of Swap in the $695 Trillion global OTC derivatives market feel like. Every day the slow moving gears of […]
thestatedtruth.com | March 8, 2010
This will probably start to “spread like wildfire” to courts around the State of California and the country for that matter in the next few months. L.A. County Superior Court to lay off 329 staffers April 1 March 8, 2010 | 11:38 am In the first of a series of projected cuts, the Los Angeles County Superior Court […]
thestatedtruth.com | March 8, 2010
Credit markets are showing (irrational) exuberance again……hard to believe, but that’s the direction we’re heading in! Looks like the governments hand is in everything, quite literally. You may ask how is this possible, well……before the fall of Rome, did anyone pay attention to the fingers of trouble, nope, greed overtook common sense. I think that pretty much […]
thestatedtruth.com | March 7, 2010
From Jim Sinclair…..Credit default swap OTC derivatives are weapons of real warfare. (Credit-default swaps, where you insure your neighbor’s house just to destroy it and make money from it, that’s exactly what we have to curb, according to Paul Volcker)   They are already operating against US state debt. Soon states will be falling like bowling pins. […]
thestatedtruth.com | March 7, 2010
Squeezing the Last Drop of Productivity from the American Working Class – 18 Percent National Underemployment and why Wall Street and the Government are Cheering Your Financial Failure. Posted: Sun, 07 Mar 2010 06:04:47 +0000 The American financial press cheered on Friday when “only†36,000 jobs were lost in February. This if you haven’t noticed […]
thestatedtruth.com | March 7, 2010
Paul Volcker……..Volcker used his speech to lay out the reasoning behind the so-called Volcker Rule that underpins the legislation sent by President Barack Obama to Congress this past week. He also pointed to the “abuse†of derivatives to massage Greece’s budget deficit as a reason to tighten regulation of the securities.“Surely the recent revelations about […]
thestatedtruth.com | March 7, 2010
Does that make them (you know the old saying)…. indian traders?  This doesn’t sound good, to say the least!   It will also likely effect aspects of world markets in commodities, real estate and stock markets because they’ve been a large part of world growth.    China plans to nullify all guarantees local governments have provided for loans taken by […]
thestatedtruth.com | March 5, 2010
Anybody notice how hard it is to slow down deficit spending habits. it causes riots and all kinds of mischief!  Debt has to come down. How do we explain this to the average person who’s been taught to borrow and spend? Speculators Eye Next Prey How Safe Is Britain’s Proud Pound? By Carsten Volkery in […]
thestatedtruth.com | March 5, 2010
Oh, the poor poor banks, they never thought it would come to this!  First they are asked, then they will be told to do these “push-backs”. Fannie, Freddie Ask Banks To Eat Soured Mortgages By Bradley Keoun March 5 (Bloomberg) — Fannie Mae and Freddie Mac may force lenders including Bank of America Corp., JPMorgan Chase […]
thestatedtruth.com | March 5, 2010
Consumer Credit in U.S. Increases for First Time in a Year By Vincent Del Giudice March 5 (Bloomberg) — Borrowing by U.S. consumers unexpectedly rose in January for the first time in a year, led by auto loans and indicating Americans are gaining confidence in the economy. Consumer credit increased $5 billion, or 2.4 percent […]
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