thestatedtruth.com | June 15, 2010
Among those who have loans that aren’t backed by any federal agency, the re-default rate within 12 months is likely to be 65% to 75% under the Obama administration’s Home Affordable Modification Program, according to a report from Fitch Ratings.
thestatedtruth.com | June 15, 2010
A bleak Ghazni Province seems to offer little, but a Pentagon study says it may have among the world’s largest deposits of lithium. By JAMES RISEN Published: June 13, 2010 WASHINGTON — The United States has discovered nearly $1 trillion in untapped mineral deposits in Afghanistan, far beyond any previously known reserves and enough to […]
thestatedtruth.com | June 15, 2010
Mexico on Tuesday put a limit of 4,000 US dollars per month on bank deposits by individuals, a move meant to thwart drug traffickers who use the US currency to stash away their illicit profits. Officials also imposed a limit of 7,000 US dollars for deposits by Mexican businesses making deposits in greenbacks. Meanwhile foreigners […]
thestatedtruth.com | June 14, 2010
 Woha……..This is heavy reading on the Gulf of Mexico oil blowout if TRUE! The disaster has a real potential cost of at least $1,000 billion ($1 trillion). According to the Washington report of Madsen, BP statements that one of the leaks has been contained, are pure public relations disinformation designed to avoid panic and demands […]
thestatedtruth.com | June 14, 2010
Rick’s Picks Monday, June 14, 2010 “Phenomenally accurate forecasts†We’ve railed at traders and speculators recently for their arrogant and sometimes breathtaking stupidity in failing to discount an onslaught of world-shattering news. If the dolts, rubes, bozos and mountebanks who have kept stocks afloat even remotely understood what has been going on in this world, we wrote here recently, […]
thestatedtruth.com | June 13, 2010
The State and local governments are broke. This will amount to an endless amount of state aid. It will end when, not if…..foreigners flee our bonds and then interest rates explode because of it! Obama Pushes for $50 Billion in State Aid by CalculatedRisk on 6/13/2010 From Jackie Calmes and Sheryl Gay Stolberg at the NY Times: Obama […]
thestatedtruth.com | June 11, 2010
The financial raid against the middle class – 9 of the 10 largest occupations in the U.S. have median wages between $8 per hour and $14per hour. The middle class is inheriting a new serfdom drowning in mountains of debt. The new two income trap. Posted: Fri, 11 Jun 2010 18:02:10 +0000 The war against […]
thestatedtruth.com | June 10, 2010
Arizona Sells Supreme Court Building in $300 Million Bond Deal          By Allison Bennett and Brendan A. McGrail June 8 (Bloomberg) — Arizona, which sold state prisons and offices to raise cash six months ago, plans to borrow $300 million by marketing its Supreme Court building and about a dozen more properties through leaseback bonds […]
thestatedtruth.com | June 10, 2010
We have (2) options according to Oil expert Matthew Simmons. British Petroleum could be bankrupt over one bad drill hole! Everyone should click on the link below and listen to this informative CNBC video interview of Matthew Simmons! He says that this is the worst oil disaster ever.  Joe Weisenthal The Houston energy banker […]
thestatedtruth.com | June 8, 2010
Fitch Ratings agency warned Tuesday that Britain faces a “formidable†fiscal challenge and must cut its budget deficit faster to maintain its top credit rating. In a special report ahead of an emergency budget planned by the new coalition government, Fitch noted that the rise in public debt ratios since 2008 is faster than any […]
thestatedtruth.com | June 8, 2010
 From Art Cashin on the floor of The New York Stock Exchange today! Fedspeak – Chairman Bernanke gave a speech last night. It wasn’t exactly a barn burner but he did suggest that while the recovery will be slow and joyless, it will not produce a double dip.  Janet Yellen, in her Monday speech did […]
thestatedtruth.com | June 7, 2010
By Tyler Durden on 06/07/2010 Â April consumer credit came in slightly above expectations, at $2,423 billion in April, compared to $2,421.8 billion in March. The March number was interesting as it was revised notably lower from +$2 billion to -$5.4 billion, a revision the likes of which we can probably expect for April once […]
thestatedtruth.com | June 7, 2010
By Tyler Durden on 06/07/2010 Update: The pipe belongs to Enterprise Products Partners LP. Bloomberg reports: “Enterprise Products Partners LP shut a portion of its 36-inch natural gas pipeline after the line was struck by a fire. The line stretches from Waha in West Texas to the Carthage Hub in Panola, Rick Rainey, a company […]
thestatedtruth.com | June 4, 2010
 By Jim Polson and Jessica Resnick-Ault June 4 (Bloomberg) — BP Plc may be able to capture more than 90 percent of the oil leaking from its Gulf of Mexico well with the cap it put in place last night. “I’d like to see us capture 90-plus percent of this flow,†Doug Suttles, BP’s […]
thestatedtruth.com | June 3, 2010
By WILLIAM J. BROAD Published: June 3, 2010 The chatter began weeks ago as armchair engineers brainstormed for ways to stop the torrent of oil spilling into the Gulf of Mexico: What about nuking the well? Energy Secretary Steven Chu is not considering a bomb. Â Decades ago, the Soviet Union reportedly used nuclear blasts […]
thestatedtruth.com | June 2, 2010
By Andrew Frye and William Selway June 2 (Bloomberg) — Warren Buffett, whose Berkshire Hathaway Inc. has been trimming its investment in municipal debt, predicted a “terrible problem†for the bonds in coming years. “There will be a terrible problem and then the question becomes will the federal government help,†Buffett, 79, said today at […]
thestatedtruth.com | June 2, 2010
July isn’t too shabby, but it has the misfortune of sitting between the only two months – June and September – that have produced losses, on average, since 1950. August has delivered a gain, but just barely. So when you add it all up, you can see that the stock market has not provided a […]
thestatedtruth.com | May 31, 2010
thestatedtruth.com | May 31, 2010
Are we coming closer to WW III……it would appear so! By Tyler Durden on 05/30/2010 Even as futures are feeling buoyant as a result of the JPY drop following the collapse of the Japanese ruling coalition (which in itself will likely spell serious JGB troubles in the days ahead), Middle-east geopolitical issues have once resurfaced… […]
thestatedtruth.com | May 30, 2010
thestatedtruth.com | May 30, 2010
May 30 (Bloomberg) — BP Plc said it will seek to contain a majority of oil gushing from its Gulf of Mexico well with a new tactic to plug the leak as a White House adviser said the U.S. is now telling the company “what to do.†The company encountered “too much flow†and the […]
thestatedtruth.com | May 30, 2010
Americas most famous Las Vegas club owner and desisgner speaks out about the direction of the United States and the wild uncontrolled spending and massive debt we are taking on. “We’re on our way to Greece, in the hands of a confused, foolish government,†Wynn says. Steve Wynn says Americans are afraid. He’s just angry. “Washington is […]
thestatedtruth.com | May 28, 2010
WASHINGTON – BP’s chief executive cautioned Friday that it will be two more days before anyone knows if the latest fix attempt will stop the oil spewing into the sea, and President Barack Obama arrived on the Gulf Coast to tell residents they are not alone in dealing with it. The New York Times reported […]
thestatedtruth.com | May 27, 2010
#1) In what universe is an economy with 39.68 million Americans on food stamps considered to be a healthy, recovering economy? In fact, the U.S. Department of Agriculture forecasts that enrollment in the food stamp program will exceed 43 million Americans in 2011. Is a rapidly increasing number of Americans on food stamps a good sign or […]
thestatedtruth.com | May 24, 2010
Health Care Law  63% Favor Repeal of National Health Care Plan  May 24, 2010 Support for repeal of the new national health care plan has jumped to its highest level ever. A new Rasmussen Reports national telephone survey finds that 63% of U.S. voters now favor repeal of the plan passed by congressional […]
thestatedtruth.com | May 24, 2010
May 24, 2010 “The most recent satellite imagery indicates that the portion of the oil previously observed moving to the SE towards the Loop Current (LC) has largely been entrained into a counter-clockwise rotating eddy to the north of the LC. Over flight observations report this oil is in the form of very scattered light […]
thestatedtruth.com | May 23, 2010
thestatedtruth.com | May 22, 2010
LONDONÂ Â Â Â Â Â Â BP PLC’s chief executive told staff he was frustrated by the company’s failure to stop an oil leak in the U.S. Gulf of Mexico and warned an attempt to do so starting next week could fail. In an email to staff late Friday, Tony Hayward said, “Like all of you, and the outside world, […]
thestatedtruth.com | May 20, 2010
 Submitted by Tyler Durden on 05/20/2010 As if uncontrollable economic contagion was not enough for the administration, Obama is now willing to add geopolitical risk to the current extremely precarious economic and financial situation. Over at Debkafile we read that the president has decided to “boost US military strength in the Mediterranean and Persian […]
thestatedtruth.com | May 20, 2010
Is British Petroleum lying?     95,000 Barrels Are Leaking Daily, Says Engineer….A professor of engineering told Congress that the reality is 95,000 barrels of oil are gushing out of the oil leak daily.That’s 4 million gallons a day.  Not the 5,000 barrels reported.                                                                                                                        ~~~~~~~~~~  Gregory White | May 20, 2010  While BP may […]
thestatedtruth.com | May 19, 2010
Here is the scoop, or should we say the poop!     In case you missed it, Arizona voters overwhelmingly approved Proposition 100 on Tuesday, which raises the state sales tax by one percentage point for three years. A whopping two-thirds majority voted for the move. Arizona’s budget crisis is one of the worst in the country, […]
thestatedtruth.com | May 19, 2010
 by Tyler Durden on 05/19/2010  From Goldman’s Jan Hatzius. Delinquencies and Foreclosures Rise Again Data just released by the Mortgage Bankers’ Assn show that more than one-tenth of all US mortgages are delinquent, a new record high. Homes in foreclosure edge up slightly as well. One caveat: the increases are driven by seasonal […]
thestatedtruth.com | May 19, 2010
05/19/2010 14:01 -0500 ICI has reported the most recent fund flow data, and it’s a doozy. In the week following the flash crash, domestic equity funds saw a whopping $8.6 billion in outflows. As a result, the YTD outflow is over $9 billion, so in essence after almost going back to breakeven before May 6, […]
thestatedtruth.com | May 19, 2010
By Nicole Bullock in New York and Hal Weitzman in Chicago Published: May 19 2010 20:44 | Last updated: May 19,2010 Illinois used to have a plan to pay off the gaping shortfall in the pension funds that pay retired teachers, university employees, state workers, judges and politicians, Dan Long recalls. Mr Long, director of […]
thestatedtruth.com | May 19, 2010
Alan Zibel, AP Real Estate Writer,    Wednesday May 19, 2010 WASHINGTON (AP) — The mortgage crisis is dragging on the economic recovery as more homeowners fall behind on their payments. Analysts expect improvement soon, but the number of homeowners in default or at risk of foreclosure will have a lingering effect on the broader economy. […]
thestatedtruth.com | May 19, 2010
We ain’t seen nothing yet. There’s an old story of a guy who, when asked how he went broke during the Great Depression, responded: ‘slowly; then all at once’. We’re in a new era; which while there will be snapbacks and melancholy attempts to restore the past excesses (whether consumerism or governmental spending levels); they […]
thestatedtruth.com | May 17, 2010
Katla Volcano Just Rumbled Permalink Is the sleeping Katla waking up? On May 17, 2010 08:32 UTC, The Iceland Met office indicates that a small earthquake has occurred at the Katla location. In what could be an early indication of the event that is expected to occur (an eruption of Katla), a small earthquake is […]
thestatedtruth.com | May 17, 2010
With only so much oil to go around, every new off-take agreement signed by the Chinese with the Saudis or Venezuelans, for example, is a net loss in supply to other bidders, notably the world’s largest energy consumer, the United States. That the Chinese, and other countries, are aggressively securing long- term energy arrangements, coincidental […]
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