thestatedtruth.com | January 4, 2010
OUTLOOK FOR ECONOMIC GROWTH AROUND THE WORLD Guild Investment In our opinion, stock market appreciation is a function of corporate profit growth. Corporate profit growth depends upon the industry or industries in which the company operates and the growth rate of the countries in which the company operates. A summary of the markets which we […]
thestatedtruth.com | January 4, 2010
Merced Sun-Star  Lifeline For Homeowners  California and four other states lead the nation in  ‘Underwater’ mortgages. Entering the new year, California continues to be the blue lagoon for the mortgage mess. It is one of five states leading the nation in “underwater” mortgages, where the value of a home is less than what […]
thestatedtruth.com | January 4, 2010
No Good Deed Goes Unpunished as Banks Seek Profits From Bailout By Christopher Condon and Jody Shenn Jan. 4 (Bloomberg) — To understand the meaning of no good deed goes unpunished, Treasury Secretary Timothy F. Geithner can look no further than Wall Street where the banks that received the biggest taxpayer bailouts are seeking to […]
thestatedtruth.com | January 3, 2010
thestatedtruth.com | January 3, 2010
  JANUARY 2, 2010      How A Supposed Boon Has Become A Fiscal Burden. Remember how $200 billion in federal stimulus cash was supposed to save the states from fiscal calamity? Well, hold on to your paychecks, because a big story of 2010 will be how all that free money has set the states up for an even bigger […]
thestatedtruth.com | January 3, 2010
Fed’s Kohn Says Constrained Credit May Curb Spending By Craig Torres Jan. 3 (Bloomberg) — Federal Reserve Vice Chairman Donald Kohn said tight bank credit and caution among households and businesses may impede spending amid an improvement in financial markets. “Lingering credit constraints are a key reason why I expect the strengthening in economic activity […]
thestatedtruth.com | January 3, 2010
Stiglitz Says Crisis Exposed ‘Major Flaws’ in Economics Ideas By Scott Lanman Jan. 2 (Bloomberg) — Joseph Stiglitz, the Nobel Prize- winning economist and Columbia University professor, said economists are among those at fault for the financial crisis, which exposed “major flaws†in prevailing ideas. The now-flawed premises include the ideas that economic participants behave […]
thestatedtruth.com | January 1, 2010
                        Could Commercial Real Estate Trigger A Double-Dip?   CHARLES HUGH SMITH  Reports that commercial real estate (CRE) is suffering from a double whammy of soaring vacancies and declining valuations have been making news recently with sobering regularity. DailyFinance addressed the risks that CRE meltdowns pose to banks in early December. And in […]
thestatedtruth.com | December 31, 2009
What a great investment for the government.  The situation is they are losing gobs of money, up to $400 billion in mortgages, Wallison a former general counsel at the Treasury  said in a Bloomberg Television interview. The Treasury Department recognized last week that losses will be more than $400 billion when it raised its limit on […]
thestatedtruth.com | December 31, 2009
“Through the first three quarters of 2009 state and local tax revenues totaled $875 billion, nearly 8% below the $951 billion collected in the first three quarters of 2008. In the same period, federal receipts were down nearly 19%.” State, Local Tax Revenues Decline 7% By CONOR DOUGHERTY State and local tax revenues fell 7% […]
thestatedtruth.com | December 30, 2009
DECEMBER 31, 2009 Rules to Clarify Cost of Mortgages By JAMES R. HAGERTY Americans have long struggled with the complexities of shopping for home mortgages. Now Uncle Sam is trying to help. Federal rules that take effect Friday require mortgage lenders and brokers to give consumers better estimates of the barrage of costs they incur […]
thestatedtruth.com | December 30, 2009
From Ian Mathias The 5-Minute Forecast… “One good reason to guard your finances in 2010: The Federal Reserve’s balance sheet has quietly ballooned back to near-record highs. The Fed announced yesterday that it’s balance sheet expanded to $2.22 trillion last week, it’s grossest level in nearly a year and just a hair from an all […]
thestatedtruth.com | December 28, 2009
Mortgage Anxieties Mean Limbo for Fannie and Freddie ………..Fannie Mae and Freddie Mac, which buy home mortgages from banks and package them into bonds sold to investors, have been bailed out with $1.5 trillion in direct and indirect government aid.  The approaching withdrawal of Fed support in the form of the mortgage-bond purchases risks a […]
thestatedtruth.com | December 28, 2009
U S Fixed Income Has To Increase  Elevenfold… Or Else  by Tyler Durden on 12/25/2009 17:31 -0500 From www.zerohedge.com As everyone is engrossed by assorted groundless Christmas (and other ongoing bear market) rallies, and oblivious to the debt monsters hiding in both the closet and under the bed, Zero Hedge has decided it […]
thestatedtruth.com | December 27, 2009
If this happens, it will kill what ever bottoming action we’ve seen in real estate, crush commercial real estate and put the economy back in recession…….Yields on benchmark 10-year notes will climb about 40 percent to 5.5 percent, the biggest annual increase since 1999, according to David Greenlaw, chief fixed-income economist at Morgan Stanley in New […]
thestatedtruth.com | December 27, 2009
Goldman Sachs and Others Investigated for Betting Against Securities They Created Sunday, December 27, 2009 Betting against their own securities has prompted numerous investigations of Goldman Sachs and other Wall Street institutions. Prior to the financial collapse, Goldman and others figured out a way to package risky securities, such as subprime mortgages, and sell them […]
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 21, 2009
The Second Wave of Mortgage Defaults By Jim Nelson Baltimore, Maryland Our economy is about to relapse into the disease that sent us into the Great Depression: Part Deux. Subprime loans caused the initial illness. Option-ARMs will cause the relapse. In the first half of the past decade, subprime loans were king. They were cheap […]
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 7, 2009
From The Inger Letter       www.ingerletter.com Today’s latest report showed continued year-over-year declines for Consumer Credit; which is now an all-time one-year collapse which bears watching. I also believe that despite the protestations about credit not being available; consumer and business folks alike (at least those with basic smarts) aren’t inclined to borrow at this time, […]
thestatedtruth.com | December 7, 2009
Bernanke Sees ‘Formidable Headwinds’ for U.S. Economy By Craig Torres and Shobhana Chandra Dec. 7 (Bloomberg) — Federal Reserve Chairman Ben S. Bernanke said the U.S. economy faces “formidable headwinds,†including a weak labor market and tight credit that are likely to produce a “moderate†pace of expansion. “The economy confronts some formidable headwinds that […]
thestatedtruth.com | December 6, 2009
Treasury Needs Plan B For Mortgages From The Yew York Times By GRETCHEN MORGENSON Published: December 5, 2009 AFTER months of playing pretend, the Treasury Department conceded last week that the Home Affordable Modification Program, its plan to aid troubled homeowners by changing the terms of their mortgages, was a dud. The 10-month-old program is […]
thestatedtruth.com | December 2, 2009
 Comments from Cumberland Advisors, a major institutional investor (full report attached below)……………This is worth the time to read.The number of FDIC-insured bank units rated “F” rose from 2,256 at the end of June to 2,337 as of Q3 2009. Even with the heavily subsidized money center banks added back into the equation, the Stress […]
thestatedtruth.com | December 1, 2009
US Commercial Property Loan Defaults Soar-Reports Mon Nov 30, 2009 11:59pm EST By Ilaina Jonas NEW YORK, Nov 30 (Reuters) – The default rate for commercial real estate loans held by banks reached the highest in 16 years and the outlook looks worse, according to a report by a research firm released on Monday. The […]
thestatedtruth.com | November 30, 2009
thestatedtruth.com | November 21, 2009
thestatedtruth.com | November 19, 2009
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 12, 2009
Fannie, Freddie Warn On Losses   By NICK TIMIRAOS Fannie Mae and Freddie Mac, already reeling in red ink, are warning they could face additional losses from the weakening condition of mortgage-insurance companies. Fannie and Freddie together have required capital injections from the Treasury of $112 billion since the government took them over through conservatorship […]
thestatedtruth.com | November 12, 2009
thestatedtruth.com | November 10, 2009
Many of the Top 50 metro areas in the US are reporting “sharp increases in foreclosure activity. “Rising unemployment and a new variety of mortgage resets continued to gradually shift the nation’s foreclosure epicenters in the third quarter away from the hot spots of the last two years and toward some metro areas that had […]
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