thestatedtruth.com | March 5, 2010
U.S. Treasury’s Krueger Says Job Market Still Faces Stresses By Rebecca Christie  March 5 (Bloomberg) — The U.S. economy remains under strain even though the labor market is showing signs of improvement, said Alan Krueger, assistant Treasury secretary for economic policy. The Labor Department report that U.S. employers cut 36,000 jobs last month was […]
thestatedtruth.com | March 5, 2010
Op-Ed Columnist A Word From The Wise By THOMAS L. FRIEDMAN Published: March 5, 2010 I was traveling via Los Angeles International Airport — LAX — last week. Walking through its faded, cramped domestic terminal, I got the feeling of a place that once thought of itself as modern but has had one too many […]
thestatedtruth.com | March 4, 2010
Not “unexpected surprise” except to the government maybe……………last week showed unexpected declines in purchases of new and existing homes.  Foreclosures pose another threat. Foreclosure filings rose 15 percent in January compared with a year earlier and exceeded 300,000 for the 11th straight month, RealtyTrac Inc. said Feb. 11.Toll Brothers Inc. Chief Executive Officer Robert […]
thestatedtruth.com | March 3, 2010
thestatedtruth.com | March 3, 2010
The middle class is finding itself struggling to keep what was once seen as staples of a burgeoning working class in our country. Part of this battle has come from a system that has rewarded easy finance on the backs of the working class. Take for example residential real estate. For decades, this was probably […]
thestatedtruth.com | March 3, 2010
NY State Cuts Revenue Estimate By $850 Million Posted March 3, 2010 NEW YORK (Reuters) – New York Governor David Paterson and the state legislature have agreed to reduce their revenue forecast by $850 million for the next 13 months, a state report said on Tuesday. The Democratic governor in February cut $750 million from […]
thestatedtruth.com | March 3, 2010
Indiana Puts 17th Notch In Revenue Shortfall Belt By Eric Bradner Posted March 2, 2010 at 11:45 p.m. INDIANAPOLIS — Indiana now has had 17 consecutive months of bad fiscal news. The latest revenue report on Tuesday showed the state took in $85.5 million less in taxes in February than was predicted less than three […]
thestatedtruth.com | March 3, 2010
The Los Angeles Unified School District’s board voted Tuesday to send notices of possible layoffs to nearly 5,200 teachers and other workers while urging union leaders to negotiate concessions that could make some of the cuts unnecessary. Members on Tuesday discussed cutting the pay of its nearly 40,000 full-time workers and shortening the school year […]
thestatedtruth.com | March 3, 2010
Heather Knight, Chronicle Staff Writer Wednesday, March 3, 2010 More than 15,000 San Francisco city workers across all departments will receive layoff notices Friday, and most of them will have the option of being rehired to work a shorter week, Mayor Gavin Newsom said Tuesday. Newsom’s controversial plan to help reduce the city’s $522 million […]
thestatedtruth.com | March 3, 2010
Wednesday, March 3, 2010 From……Cashin’s Comments on the floor of The New York Stock Exchange More On The Iran Quandary – In Tuesday’s Comments, we alluded to an evaluation of the U.S./Iran standoff by Stratfor. We thought their essay good enough to revisit. Here’s a bit of the assessment: Iraq, not nuclear weapons, is the […]
thestatedtruth.com | March 2, 2010
This program has been a total failure at a radical cost to us the tax payers. FHFA has reviewed the current market situation and the state of mortgage insurance availability and has determined that the market conditions that necessitated the actions taken last year have not materially changed. Fannie, Freddie and FHA are broke. FHA […]
thestatedtruth.com | March 2, 2010
 Pimco’s El-Erian: We’re half-way through a ‘multiyear resetting of the global economy’   By Drew Carter March 2, 2010  The world is in the middle of a multiyear resetting of the global economy, Mohamed El-Erian, PIMCO CEO and co-chief investment officer, said at a news conference in London today.He said it will take […]
thestatedtruth.com | March 2, 2010
In The Times – The Abu Dhabi media website “The National†ran the following report under the headline “That was a war council in Damascusâ€: The three-party meeting that took place in Damascus on Friday gathering the Syrian president Bashar al Assad, the Iranian president Mahmoud Ahmadinejad and the Hizbollah chief Hassan Nasrallah was a […]
thestatedtruth.com | March 2, 2010
Jim Sinclair has always spoken his mind, let’s pay attention to what he’s saying! He is a firm believer that derivatives are the world’s biggest risk unless contained and made transparent (nearly happened already, just read Henry Paulson’s book On The Brink)…..also, let’s not forget, Warren Buffett has said over and over “unregulated derivatives are financial  weapons of mass […]
thestatedtruth.com | March 2, 2010
On this day (-1) in 1917, markets were roiled by news about Mexico. The news also helped to decide World War I (or so some think). Now don’t get upset you little historian, you. We know that you know that America had not yet even entered the war (or even officially picked a side). But […]
thestatedtruth.com | March 2, 2010
  March 1, 2010 | 1703 GMT By George Friedman The United States apparently has reached the point where it must either accept that Iran will develop nuclear weapons at some point if it wishes, or take military action to prevent this. There is a third strategy, however: Washington can seek to redefine the […]
thestatedtruth.com | March 1, 2010
March 1, 2010Â |Â 11:55 am One of the most-anticipated reactions of the Vancouver Games appears to have taken off. Russian President Dmitry Medvedev has demanded the country’s sports officials resign following Russia’s disappointing performance in the Winter Olympics. In a televised statement, Medvedev told officials to resign before the government would force them out. “Those who […]
thestatedtruth.com | March 1, 2010
Senate Democrats Unveil New Plan to Extend Unemployment Aid By Brian Faler March 1 (Bloomberg) — Senate Democrats unveiled a $150 billion plan to reinstate unemployment benefits that expired yesterday as part of lawmakers’ second major effort this year to boost the economy. The bill would spend $81 billion to extend unemployment benefits, including so-called […]
thestatedtruth.com | March 1, 2010
A Crash Course in Historic Market Crashes  Ron Coby MAR 01, 2010 9:10 AM        Today’s market peak looks eerily similar to the ones in 1929, 1930, 1987, and 2007.       Talking head after talking head appear on the TV daily telling everyone […]
thestatedtruth.com | February 27, 2010
 David Kotok: A Euro Bull Waiting For Storm To Pass Written by Lara Crigger  - February 26, 2010 11:56 AM  David Kotok is the co-founder, chairman and chief investment officer of Cumberland Advisors, a New Jersey-based money management firm. His thoughts on the financial markets have appeared in various media outlets, including CNBC, the […]
thestatedtruth.com | February 27, 2010
Bad seats, hey buddy….or Freddie as the case may be! Â www.ingerletter.com
thestatedtruth.com | February 27, 2010
Written by Lara Crigger  - Posted February 27, 2010   Dennis Gartman is the mind behind The Gartman Letter, a daily newsletter discussing global capital markets. For over 20 years, The Gartman Letter has tackled the political, economic and social trends shaping the world’s markets, and Gartman himself is a frequent guest on CNBC, Bloomberg and […]
thestatedtruth.com | February 27, 2010
Bernanke is now joining Rosenberg, Ferguson and Faber, Edwards, Grice and many others in warning that the debt crisis rearing its head in Greece may spread to America, causing U.S. interest rates to climb. As the Washington Times wrote yesterday: With uncharacteristic bluntness, Federal Reserve Chairman Ben S. Bernanke warned Congress on Wednesday that the […]
thestatedtruth.com | February 27, 2010
“By increasing the volume of their government securities and loans and by lowering Member Bank legal reserve requirements, the Reserve Banks can encourage an increase in the supply of money and bank deposits. They can encourage but, without taking drastic action, they cannot compel. For in the middle of a deep depression just when we […]
thestatedtruth.com | February 26, 2010
Cumberland Advisors  Commercial Real Estate: More Trouble Ahead February 26, 2010 “Between 2010 and 2014, about $1.4 trillion in commercial real estate loans will reach the end of their terms. Nearly half are at present underwater that is, the borrower owes more than the underlying property is currently worth. Commercial property values have fallen […]
thestatedtruth.com | February 25, 2010
The divergence has accelerated as the recession has deepened! Unfortunately, the employment trends depicted in the nearby chart are not the trends that typically produce national prosperity. If government employment were to continue rising while private sector employment fell, the economy would become less productive…at least that would be our guess. (Picture the post office operating […]
thestatedtruth.com | February 25, 2010
Tracy Residents Now Have To Pay For 911 Calls Posted    February 25,2010 Tracy, California residents will now have to pay every time they call 9-1-1 for a medical emergency. But there are a couple of options. Residents can pay a $48 voluntary fee for the year which allows them to call 9-1-1 as many times as […]
thestatedtruth.com | February 24, 2010
From the floor of the New York Stock Exchange, Art Cashin talks about early week comments from Ex Fed Chairman Alan Greenspan and SF Fed President Janet Yellen……….Not good, to say the least!    WASHINGTON — Former Federal Reserve Chairman Alan Greenspan said on Tuesday the U.S. economic recovery was “extremely unbalanced,” driven largely by high earners […]
thestatedtruth.com | February 24, 2010
It is hard to even comprehend that breakfast sales accounted for $57 billion in revenue. However, with more people out of work many are skipping breakfast or eating at home. On my early morning drives I will always see cars pulling up to McDonalds or Starbucks for that early morning purchase. The lines seemed a […]
thestatedtruth.com | February 24, 2010
WASHINGTON—U.S. new-home sales unexpectedly fell in January, setting a record low and erasing all gains made in the market during the past year as the economy recovers from recession. Demand for single-family homes fell 11.2% from the previous month to a seasonally adjusted annual rate of 309,000, the Commerce Department said Wednesday. Economists surveyed by […]
thestatedtruth.com | February 24, 2010
This should pretty much tell the story on copper and the recovery, Goldman has the inside track on many things.   Goldman Sachs Closes Copper Bet on Recovery Outlook By Stuart Wallace Feb. 24 (Bloomberg) — Goldman Sachs Group Inc. ended its recommendation to bet on higher copper prices because of concern that economic recovery […]
thestatedtruth.com | February 24, 2010
This may happen sooner rather then later based on how much real estate they’re building over there (many entire new towns and cities are being built on speculation and sitting empty.)  …..China’s economic growth will plunge to as low as 2 percent following the collapse of a debt- fueled bubble within 10 years, sparking a regional […]
thestatedtruth.com | February 23, 2010
FDIC Hits Record “Default” Level As Deposit Insurance Fund Plunges By $12.7 Billion To NEGATIVE 20.9 Billion From Dow Jones: The U.S. banking industry continued to struggle in the fourth quarter, as the number of banks on the brink of failure continued to rise and the government’s fund to protect deposits fell sharply into the […]
thestatedtruth.com | February 23, 2010
thestatedtruth.com | February 23, 2010
thestatedtruth.com | February 23, 2010
Dan Denning, Reporting From Melbourne, Australia… Recently we claimed that borrowing your way to national prosperity is a sure-fire way to servitude and political instability. Today, we aim to prove it. To do so, we cite this article from Reuters. It suggests that China is using or should use its large holdings of US Treasury […]
thestatedtruth.com | February 23, 2010
Shiller is saying that the real estate market is artificial in nature.  Sounds like the “free market” is down the drain, everything is now supported by the U.S. government. So…..what happens when the government backs off on these gift programs? The fear and logical conclusion is down we go until we find a “free market” bottom based on […]
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