thestatedtruth.com | December 23, 2009
Exactly one month ago, The New York Times ran a front-page headline, “Wave of Debt Payments Facing US Government,” and punctuated the point of the accompanying story with the chart below: The following day, we tipped our hat to the Grey Lady and re-produced the chart for the benefit of all Daily Reckoning readers who […]
thestatedtruth.com | December 22, 2009
Something to watch closely…….From Art Cashin’s comments from the floor of the New York Stock Exchange……  Things are beginning to stir in the bond market. The deflationary shadow seems to be disappearing and rather rapidly. Early signs of inflationary concerns are beginning to appear. The action of the bond markets may be causing, or […]
thestatedtruth.com | December 22, 2009
On this day (+2) in 1931, America was spiraling into the depths of the Depression. Thousands of banks had closed and there was a national panic that more closings might be imminent. And, large corporations announced huge layoff programs, stunning many who thought they were safe. Those who had a job were grateful just to […]
thestatedtruth.com | December 22, 2009
The S&P 500 is up 65 percent from its 2009 closing low and looks to close out the full year with a gain of greater than 20 percent. But looking at the latest mutual fund inflows, the retail Regular Joe chose the safety of bonds. More than $260 billion flowed into taxable bond funds this […]
thestatedtruth.com | December 22, 2009
By Peter Whoriskey The Washington Post Mon., Dec . 21, 2009 The recession’s jobless toll is draining unemployment-compensation funds so fast that according to federal projections, 40 state programs will go broke within two years and need $90 billion in loans to keep issuing the benefit checks. The shortfalls are putting pressure on governments to […]
thestatedtruth.com | December 21, 2009
Trillions Of Troubles Ahead  Bert Dohmen Not too long ago, a billion dollars in a governmental budget was a lot of money. Then we got into hundreds of billions. People understood that this was a lot, just because of all the zeros. Now, unfortunately, the number has become small: the world “trillion,” as in […]
thestatedtruth.com | December 19, 2009
THE DEBT BOMB by Puru Saxena Editor, Money Matters December 18, 2009 BIG PICTURE- “It’s a question of how do you achieve the deleveraging. Do you go through a long period of slow growth, high savings and many legal problems or do you accept higher inflation? It would ameliorate the debt bomb and help us […]
thestatedtruth.com | December 18, 2009
Comstock Partners, Inc.Why We Remain Bearish December 17, 2009 The stock market rally has now reached a point where it is forecasting a V-shaped recovery that is not likely to happen. The recent catalyst for all of this optimism is a bullish interpretation of current economic activity, some apparent stabilization in the housing market and […]
thestatedtruth.com | December 17, 2009
Chinese Central Banker Zhu Says Dollar Set to Weaken By Bloomberg News Dec. 17 (Bloomberg) — Chinese central banker Zhu Min said that the dollar is set to weaken further and it will become more difficult for nations to buy U.S. Treasuries. “When the U.S. has to fund its deficit through the combination of issuing […]
thestatedtruth.com | December 17, 2009
Pimco’s Gross Boosts Cash to Most Since Lehman Failed By Wes Goodman and Garfield Reynolds Dec. 18 (Bloomberg) — Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., cut holdings of government debt and boosted cash to the most since Lehman Brothers Holdings Inc. collapsed in September 2008. Gross increased […]
thestatedtruth.com | December 16, 2009
From…..The Daily Reckoning China’s nuclear capacity is now less than 9,000 megawatts, but the country has more than a dozen more plants either under construction or in the planning stages. According to figures from the brokerage CLSA, the capacity could grow fivefold by 2015. The official target is 40,000 megawatts by 2020. Such an ambitious […]
thestatedtruth.com | December 1, 2009
thestatedtruth.com | December 1, 2009
thestatedtruth.com | November 21, 2009
thestatedtruth.com | November 20, 2009
Shocking and hard to believe, but real. Do you want gold as insurance or the dollar long-term? $4.8 trillion – Interest on U.S. Debt Unless lawmakers make big changes, the interest Americans will have to pay to keep the country running over the next decade will reach unheard of levels. By Jeanne Sahadi, CNNMoney.com senior […]
thestatedtruth.com | November 20, 2009
Paulson: Gold’s Bull Run Is Just Beginning November 19, 2009 By Simon Avery John Paulson, lionized by many investors for his winning bet on the fall of the housing and financial markets, is now getting aboard the gold wagon. The hedge fund manager told his investors that even at $1,150 an ounce, the bull run […]
thestatedtruth.com | November 19, 2009
Jim Rickards: If gold is money again, at some point it goes to at least $4,000….How could this happen? Easy if countries of the world print to much currency. Thursday, November 19, 2009 Daily Dispatches  Today Jim Rickards remarked that the United States and China are devaluing their currencies against each other in a game of […]
thestatedtruth.com | November 19, 2009
This chart says one thing bigger then anything else……..higher interest rates are only a matter of time. The smartest guys on Wall Street starting with David Einhorn of Greenlight Capital are betting on higher interest rates, forced by the market place, will happen sooner rather then latter starting in the United States and Japan. (He is a critic […]
thestatedtruth.com | November 19, 2009
Nov. 19 (Bloomberg) — Meredith Whitney, the analyst who cut her rating on Goldman Sachs Group Inc. last month, said the bank has lost some of its top-performing employees as executives left to start their own investment companies. “Goldman’s lost a tremendous amount of talent going to set up their own hedge funds,†Whitney, founder […]
thestatedtruth.com | November 19, 2009
FHA, Prime Mortgage Defaults at Records on Job Losses By Kathleen M. Howley Nov. 19 (Bloomberg) — Foreclosures on prime mortgages and home loans insured by the Federal Housing Administration rose to three-decade highs in the third quarter, driven by the biggest job losses since the Great Depression. One out of every six FHA mortgages […]
thestatedtruth.com | November 18, 2009
thestatedtruth.com | November 14, 2009
FORT LAUDERDALE, Fla. (AP) – The world’s largest cruise ship has arrived in South Florida.The 16-deck Oasis of the Seas docked Friday at Port Everglades in Fort Lauderdale. It set sail from Finland to Florida in late October. Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or […]
thestatedtruth.com | November 12, 2009
thestatedtruth.com | November 11, 2009
THE G-20 MET LAST WEEKEND AND MADE IT VERY CLEAR NO MONETARY TIGHTENING WOULD OCCUR AT THIS TIME In effect, the G-20 said all systems are go for economic expansion globally. The G-20 said in their news release, “Economic and financial conditions have improved following our coordinated response to the crisis. However, the recovery is […]
thestatedtruth.com | November 10, 2009
Much of the middle of the nation — from the Great Lakes to the Mississippi Delta — received at least twice the normal amount of rainfall in October. That, combined with unusually cool temperatures, slowed crop development and made fields too wet for farmers to navigate with harvesting equipment. By Sunday, farmers in the major […]
thestatedtruth.com | November 10, 2009
Gene Inger’s Daily Briefing . . . For Wednesday November 11, 2009: Good evening; Left-field surprises . . . have ways of impacting over-extended markets occasionally we have observed; irrespective of whether the market ‘deserves’ to decline (as surely this one does). As if to remind the world of the power of cyber-terror; guess what […]
thestatedtruth.com | November 9, 2009
Gene Inger’s Daily Briefing . . . for Tuesday November 10, 2009: Good evening; Bears are caving-in . . . increasingly, as they become convinced that so long as the ‘untouchable’ Fed engages in cover-up’s of the problems, and stimulates massively it is impossible to break the stock market for more than 3-6% corrections (which […]
thestatedtruth.com | November 8, 2009
Zuckerman: U.S. On Brink of Deflation Crisis  Friday, November 6, 2009 9:52 AM       By: Gene J. Koprowski   The U.S. is on the precipice of a deflation crisis, one which will devastate consumers and businesses alike, publisher Mort Zuckerman writes.“Inflation typically results from too much money chasing too few goods,†writes Zuckerman in U.S. News […]
thestatedtruth.com | November 8, 2009
Volcker: U.S. Must Consume Less  Friday, November 6, 2009 11:56 AM           By: Dan Weil  Former Federal Reserve Board Chairman Paul Volcker says the consumer accounts for too much of the economy, a point he says is understood by President Obama and one which implies political support for a weaker U.S. dollar.In a recent speech, […]
thestatedtruth.com | November 5, 2009
U.S. to Sell $81 Billion in Long-Term Debt Next Week (Update2) By Rebecca Christie Nov. 4 (Bloomberg) — The U.S. Treasury Department said it plans to sell a record $81 billion in its quarterly auctions of long-term debt next week and will replace the inflation- protected 20-year bond with a reintroduced 30-year security. The Treasury […]
thestatedtruth.com | November 5, 2009
US slaps duties on Beijing steel pipe imports By Sarah O’Connor in Washington Published: November 6 2009 The US hit China with another big trade action on Thursday as it slapped Âpreliminary anti-dumping duties on $2.6bn worth of Chinese pipe imports. The commerce department’s decision to impose duties of up to 99 per cent on […]
thestatedtruth.com | November 2, 2009
Gene Inger’s Daily Briefing . . . for Tuesday November 3, 2009: Â Â A waterfall decline . . . Â Possibly the prospect of a heavier decline looming (irrespective of this technical fight, as well as psychological holding action purportedly merely awaiting the Fed decisions on Wednesday, which is actually what this is not primarily […]
thestatedtruth.com | November 2, 2009
thestatedtruth.com | November 1, 2009
China’s Recovery Strengthens, Adding Room for Stimulus Cuts By Bloomberg News Nov. 2 (Bloomberg) — Chinese manufacturing data for October showed the nation’s economic recovery is strengthening, giving policy makers more room to pare stimulus measures in coming months. The Purchasing Managers’ Index rose to a seasonally adjusted 55.2, the highest level in 18 months, […]
thestatedtruth.com | November 1, 2009
Geithner Urges Banks to Resume Lending, Help Recovery By Alison Fitzgerald Nov. 1 (Bloomberg) — U.S. Treasury Secretary Timothy Geithner said the country’s economic recovery and job creation hinge on banks taking more risk and restoring the flow of credit to businesses. “The big risk we face now is that banks are going to overcorrect […]
thestatedtruth.com | October 31, 2009
“Inflation is a monetary phenomenon, as Milton Friedman said. But hyperinflation is always and everywhere a political phenomenon, in the sense that it cannot occur without a fundamental malfunction of a country’s political economy.” Look at the chart below. Using realistic assumptions, It suggests that the annual US government fiscal deficit will approach $2 trillion […]
thestatedtruth.com | October 31, 2009
A Â bunch of crap……….Banks have generally been keeping a lid on commercial real-estate losses by extending these mortgages upon maturity. However, that practice, billed by many industry observers as “extending and pretending,” has come under criticism by some analysts and investors as it promises to put off the pains into the future. Â Â Banks Get […]
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