thestatedtruth.com | August 21, 2009
Meredith Whitney Predicts More Than 300 Bank Failures By Lynn Thomasson and Margaret Brennan Aug. 21 (Bloomberg) — Meredith Whitney, the analyst who predicted that Citigroup Inc. would cut its dividend last year, said the number of U.S. bank failures will quadruple as lenders struggle with bad loans. “There will be over 300 bank closures,†[…]
thestatedtruth.com | August 20, 2009
Mortgage defaults rise to record 13% Â In the second quarter, the number of homeowners behind on payments or in foreclosure rose along with the jobless rate, with California among states leading the way. Â The mortgage meltdown continued to worsen in the second quarter as the number of homeowners who are either behind on […]
thestatedtruth.com | August 20, 2009
‘Cash for Clunkers’ Program to Close on Aug. 24, U.S. Says By Angela Greiling Keane Aug. 20 (Bloomberg) — The U.S. “cash for clunkers’’ vehicle trade-in program will close on Aug. 24, Transportation Secretary Ray LaHood said. LaHood commented in an e-mailed press release today.    More……. http://www.bloomberg.com/apps/news?pid=20601087&sid=aJ2___hEnt6E
thestatedtruth.com | August 20, 2009
Pension Plans’ Private-Equity Cash Depleted as Profits Shrink By Jason Kelly and Jonathan Keehner Aug. 20 (Bloomberg) — U.S. pension funds contributed to the record $1.2 trillion that private-equity firms raised this decade. Three of the biggest investors, state pensions in California, Oregon and Washington, plunked down at least $53.8 billion. So far, they only […]
thestatedtruth.com | August 19, 2009
Hyperinflation Won’t Be Like Germany’s By: Rick Ackerman  Rick’s Picks Wednesday, August 19, 2009 “Phenomenally accurate forecastsâ€Â  I thought I’d overdosed on the inflation vs. deflation debate, but that was before I started reading Adam Fergusson’s When Money Dies: The Nightmare of the Weimar Collapse. Fascinating stuff. Anyone who thinks it couldn’t happen here […]
thestatedtruth.com | August 19, 2009
Buffett Says Federal Debt Poses Risks to Economy By Shamim Adam Aug. 19 (Bloomberg) — The U.S. must address the massive amounts of “monetary medicine†that have been pumped into the financial system and now pose threats to the world’s largest economy and its currency, billionaire Warren Buffett said. The “gusher of federal money†has […]
thestatedtruth.com | August 18, 2009
 Cumberland Advisors  614 Landis Avenue Vineland NJ 08360-8007 1-800-257-7013 http://www.cumber.com  September!!!! Also, Closing the Lehman Gap August 18, 2009  From the Wall Street Journal of August 11:  “For investors, the period between Labor Day and Halloween is proving an annual fright show. And no one knows why. It was, of course, in […]
thestatedtruth.com | August 18, 2009
CalPERS Admits California “Pension Costs Unsustainable” – So What To Do About It? In an unusual display of honesty CalPERS Actuary Says “Pension Costs Unsustainable” The CalPERS chief actuary says pension costs are “unsustainable,” and the giant public employee pension system plans to meet with stakeholders to discuss the issue. “I don’t want to sugarcoat […]
thestatedtruth.com | August 17, 2009
Fed Says Banks Tightened Lending in Second Quarter By Craig Torres Aug. 17 (Bloomberg) — U.S. banks tightened standards on all types of loans in the second quarter and said they expect to maintain strict criteria on lending until at least the second half of 2010, a Federal Reserve report showed today. Most banks cited […]
thestatedtruth.com | August 16, 2009
Op-Ed Contributor     New York Times Why We Need Health Care Reform By BARACK OBAMA Published: August 15, 2009 OUR nation is now engaged in a great debate about the future of health care in America. And over the past few weeks, much of the media attention has been focused on the loudest voices. What we […]
thestatedtruth.com | August 14, 2009
Boeing Halted Work on 787 Sections Due to ‘Wrinkles’ By Susanna Ray Aug. 14 (Bloomberg) — Boeing Co. said it stopped work more than a month ago on two sections for the 787 Dreamliner after tiny wrinkles were discovered in the composite-material fuselages supplied by Italian vendor Alenia Aeronautica. The flaws were found on 23 […]
thestatedtruth.com | August 14, 2009
Toxic Loans Topping 5% May Push 150 Banks to Point of  No Return By Ari Levy Aug. 14 (Bloomberg) — More than 150 publicly traded U.S. lenders own nonperforming loans that equal 5 percent or more of their holdings, a level that former regulators say can wipe out a bank’s equity and threaten its survival. […]
thestatedtruth.com | August 14, 2009
U.S. Homeowners Cut Asking Prices $27.8 Billion, Led by Nevada By Dan Levy Aug. 14, 2009Â (Bloomberg) — U.S. homeowners cut their asking prices by $27.8 billion with some of the biggest reductions in Nevada and Florida, states hardest hit by the property slump, Trulia Inc. said. Owners slashed prices by 15 percent in Nevada […]
thestatedtruth.com | August 13, 2009
The Rules: Which Vehicles Qualify….. Not all cars are eligible for the “cash for clunkers” program. Full information is available at www.cars.gov. Trade-ins must: * Be no older than 25 years, based on manufacture date. * Have had a combined fuel economy of 18 mpg or less when new. * Have been registered by the […]
thestatedtruth.com | August 3, 2009
Report: Mega Bunker Buster bomb ahead. According to Stratfor.com: “The United States will speed the deployment of a new bunker-buster bomb, ten-times more powerful than the largest existing model, as soon as July 2010, the Air Force said Aug. 2, Reuters reported. The non-nuclear, 30,000-pound bomb is 20-feet-long and is designed to penetrate up to […]
thestatedtruth.com | July 31, 2009
NYSE Embraces A Ruinous Idea By: Rick Ackerman  Rick’s Picks Friday, July 31, 2009 “Phenomenally accurate forecastsâ€Â  Sadly, another venerable American institution has lost its way: the New York Stock Exchange. We read the other day that the Exchange is building a fast-trade hub in northern New Jersey that supposedly will help secure its […]
thestatedtruth.com | July 31, 2009
Art Cashin: Stock Market Facing a 1929 Bounce   July 31, 2009 The US GDP shrunk at a slower-than-expected pace in the second quarter. What does it mean for the stock markets? Art Cashin, director of floor operations at UBS Financial Sevices, offered CNBC his insights. The market may temper optimism over the economy by analyzing […]
thestatedtruth.com | July 29, 2009
Commercial Real Estate Crash  Looming, Says Fed’s Yellen  By AUSTIN KILGORE July 29, 2009 9:55 AM CST   As the industry looks for signs the housing sector is beginning to stabilize, the threat of a crash in the commercial mortgage market grows, according to San Francisco Federal Reserve president Janet Yellen. Speaking […]
thestatedtruth.com | July 28, 2009
 Cumberland Advisors  614 Landis Avenue Vineland NJ 08360-8007 1-800-257-7013 http://www.cumber.com  Being in the Sweet Spot (twice) July 29, 2009 At the moment we are in the “sweet spot†in markets and soon, in Maine. We must enjoy it while it lasts. Some bullets follow. 1.   Fed policy is on hold at Quantitative Easing (QE), […]
thestatedtruth.com | July 28, 2009
U.S. Assures a ‘Concerned’ China It Will Shrink Record Deficit By Rob Delaney and Rebecca Christie July 27 (Bloomberg) — The Obama administration’s economic leaders assured Chinese counterparts they will rein in a record budget deficit as China underscored its concern about preserving the value of its holdings of Treasuries. “China has a huge amount […]
thestatedtruth.com | July 27, 2009
President Obama’s popularity continues to fade, as he had two bad days in the polls. According to the Rasmussen Reports.com daily poll, the number of those who disapprove of the president’s performance is now 51%. Here are some details: “The Rasmussen Reports daily Presidential Tracking Poll for Saturday shows that 30% of the nation’s voters […]
thestatedtruth.com | July 26, 2009
Acknowledging the Deception  by J. R. Nyquist  Weekly Column Published: 07.24.2009 Meet Victor Kalashnikov: former KGB officer, scholar, analyst, and writer. He is married to historian and journalist Marina Kalashnikova, the subject of last week’s column. Before the Soviet Union collapsed Victor worked for the KGB in Vienna. After Gorbachev’s bizarre abdication in […]
thestatedtruth.com | July 26, 2009
Storm Watch Update  THE END OF AN ERA  (Excerpt from a 17 July 2009 President’s Message to Jim’s clients at PFS Group) When the facts change, I change my mind. What do you do, sir? — John Maynard Keynes, British economist (1883–1946), in reply to a criticism during the Great Depression of having […]
thestatedtruth.com | July 26, 2009
Here is the entire 1017 page Health Care Bill. There is a man by the name of Peter Fleckstein (aka Fleckman) who is reading it and has been posting on Twitter his findings. This is from his postings (Note: All comments are Fleckman’s) Pg 16: SEC. 102. PROTECTING THE CHOICE TO KEEP CURRENT COVERAGE. lines […]
thestatedtruth.com | July 25, 2009
American Capitalism Gone With A Whimper.   It must be said, that like the breaking of a great dam, the American descent into Marxism is happening with breath taking speed, against the back drop of a passive, hapless sheeple, excuse me dear reader, I meant people.   True, the situation has been well prepared on and […]
thestatedtruth.com | July 25, 2009
Biden Criticizes Russia By ANDREW E. KRAMER Published: July 25, 2009 MOSCOW — Just weeks after a summit meeting intended to show a thawing in relations between the United States and Russia, Vice President Joseph R. Biden Jr. made blistering references to Russia’s failing economy, loss of face and a leadership that is “clinging to […]
thestatedtruth.com | July 25, 2009
This is an astonishing datapoint: “There were 18.7 million vacant homes in the U.S. during the second quarter as the steepest recession in 50 years sapped demand for real estate and banks seized properties from delinquent borrowers. The number of vacant properties, including foreclosures, residences for sale and vacation homes, was little changed from 18.6 […]
thestatedtruth.com | July 25, 2009
At one point, housing construction was over 5% of GDP. Now it is around 2.5%. The graph shows how much a shrinking home-construction industry has reduced GDP each quarter for the last two years.
thestatedtruth.com | July 25, 2009
A few side observations on the above graph. China is roughly as big as the other three of the BRICs (Brazil, Russia, and India) combined. Russia and Brazil are in recessions. Also, note that it will be decades before China’s economy is as big as that of the US, even with growth of 5-6% a […]
thestatedtruth.com | July 25, 2009
State Tax Revenues Across U.S. Experience Largest Decline on Record, New Rockefeller Institute Report Shows “Taxes collected by the 50 states dropped by 11.7 percent overall during the first quarter of 2009, compared to the same period a year earlier – the largest such decline in the 46 years for which quarterly data are available, […]
thestatedtruth.com | July 25, 2009
Sen. Schumer warns SEC on “flash” stock orders By Jonathan Spicer NEW YORK, July 24 (Reuters) – U.S. Senator Charles Schumer warned a top regulator on Friday that if she does not ban so-called “flashes” — orders that stock exchanges send to a select group of traders before revealing them to the wider market — […]
thestatedtruth.com | July 23, 2009
Commercial Real Estate Prices in Freefall Boston Business Journal – by Katherine Conrad San Jose Business Journal Thursday,  July 23, 2009 Commercial real estate values around the country have dropped 35 percent from their peak in October 2007, according to Moody’s REAL Commercial Property Price Indices. The decline appears to be accelerating as the index […]
thestatedtruth.com | July 23, 2009
Through March of 2009, banks had taken only $1.1 trillion in write- downs to date. Even the most conservative estimates put total credit losses at $2.2 trillion. Tilson and Tongue make a convincing case that the losses will be far worse than that – more like $3.8 trillion. And these numbers have only grown over time. […]
thestatedtruth.com | July 21, 2009
Why Gold Should Anchor a Portfolio By: Rick Ackerman  Rick’s Picks Tuesday, July 21, 2009 (Following is the fourth in a series of articles on gold by Chuck Cohen, a financial consultant and lifelong resident of New York City.) Recently I discussed some of the reasons investors often fall short. Today I want to […]
thestatedtruth.com | July 21, 2009
Details of agreement to close California deficit  Gov. Arnold Schwarzenegger and legislative leaders from both parties reached a tentative deal to address California’s $26.3 billion budget deficit. The plan still must get a two-thirds vote in the Assembly and Senate. It includes about $15 billion in cuts, as well as borrowing from local governments […]
thestatedtruth.com | July 21, 2009
Americans Repaying Debt Most Since 1952 By Caroline Salas and Michael McKee July 21 (Bloomberg) — For the first time since Harry S. Truman was in the White House, Americans are paying back their debts, a phenomenon that just might help keep interest rates low as the Treasury sells a record $2 trillion of bonds […]
thestatedtruth.com | July 20, 2009
Bureaucracy, Taxpayers Headed for a Collision By: Rick Ackerman, Rick’s Picks  Posted Monday, 20 July 2009 Rick’s Picks Monday, July 20, 2009 “Phenomenally accurate forecasts†The headline atop the front page of this morning’s Boulder Camera suggests a city struggling diligently to balance its budget: “Work-Week Options Eyedâ€. Reading this, one might infer that the […]
thestatedtruth.com | July 20, 2009
GOLD THOUGHTS by Ned W. Schmidt, CFA, CEBS Schmidt Management Company July 20, 2009 Failing economic policies of the Obama Regime are setting the stage for the next significant rally for $Gold as massive debt monetization becomes necessary. Before going into that though, we need to understand the situation with the U.S. economy. That will […]
thestatedtruth.com | July 20, 2009
Lessons Learned, New York  City Braces for Swine Flu’s  Resurgence……………  July 21, 2009 By ANEMONA HARTOCOLLIS As New York City braces for a second wave of swine flu this fall, health officials are making plans to carve space out of hospitals, clinics and other buildings to screen people before they can overwhelm emergency rooms. […]
thestatedtruth.com | July 20, 2009
U.S. Rescue May Reach $23.7 Trillion, Barofsky Says By Dawn Kopecki and Catherine Dodge July 20 (Bloomberg) — U.S. taxpayers may be on the hook for as much as $23.7 trillion to bolster the economy and bail out financial companies, said Neil Barofsky, special inspector general for the Treasury’s Troubled Asset Relief Program. The Treasury’s […]
Coming Soon
bank owned banks congress consumer credit debt Economy education equity fund flow data food stamps foreclosures Free Money gdp gold Government Greece housing inflation Interest rates japan Middle East Money mutual fund outflows net worth new normal Oil pensions PIMCO politics Quote of the Day Real Estate Recession retirement Rich Rich man spending stock market Student Loans taxes tid bits unemployment Wall Street war Wealth Wealthy weather
Copyright © 2026 The Stated Truth
