The Latest Oil Slick Map
thestatedtruth.com | May 8, 2010
Let’s Not Forget What Warren Buffett Said…..Financial Derivatives Are Weapons Of Mass Destruction! Next Up, Interest Rate Derivatives
thestatedtruth.com | May 8, 2010
Beware Of The Mortgage Modification Plan….Foregiven Debt Is Taxed As Income In Most Cases
thestatedtruth.com | May 8, 2010
Though not every homeowner who’s underwater on a mortgage need worry, many are finding that a foreclosure or other form of housing loss can lead to a big tax obligation. As the U.S. economy continues struggling with the fallout of the debt-induced housing crisis, millions of homeowners like Ms. McDaniel are discovering that their decision […]
The Credit Default Swaps “Roulette Wheel”…..Jim Sinclair Shares His Opinion
thestatedtruth.com | May 7, 2010
The solution is the problem. “Main Street is in the hands of a Roulette Wheel.”  The name of the “Roulette Wheel” is Credit Default Swaps. It does not matter what the G-7 or the G-20 does. It does not matter what the IMF, ECB and Fed under a beard do. Mrs. Merkel’s foolish political […]
Arnott: Odds Of Double-Dip Recession Better Than 50%
thestatedtruth.com | May 5, 2010
Research Affiliates chairman, along with BlackRock’s Dennis Stattman, paint a gloomy picture of U.S. economy; prepare clients ‘to weather the storm’.  The U.S. economy could well be headed for another downturn and advisers should be helping clients find opportunities overseas and in alternative-asset classes, two well-known investment managers said Tuesday. Our basic problem as a […]
Freddie Mac Seeking Another $10.6 Billion
thestatedtruth.com | May 5, 2010
The government owned businesses are the only ones we’ve ever heard of that will never break even or make money, but still manage to stay around, even though they have a monopoly on things.  By Lorraine Woellert May 5 (Bloomberg) — Freddie Mac, the mortgage-finance company in government conservatorship, said it will need $10.6 billion […]
The Real Story Is Americans Have The Lowest Level Of Housing Equity In Nearly 60 Years:
thestatedtruth.com | May 3, 2010
As of today, over 7 million current mortgage holders are 30+ days late or in some stage of foreclosure. This is at peak levels. And part of the reason why after 27 months of this recession and trillions in bailouts to Wall Street and banks, not much has changed on the housing front. Wall Street […]
The $3 Trillion Commercial Real Estate Problem
thestatedtruth.com | May 3, 2010
Commercial real estate pushes $7.4 billion in FDIC Losses in one day – Hard to hear the CRE collapse with investment banks finally being called out in the court of public opinion. $3 trillion CRE market will keep Fridays busy for the FDIC.  Posted: Mon, 03 May 2010 The $3 trillion commercial real estate […]
Hurricane Forecasters See One Of The Worst Seasons In History Looming In 2010 Atlantic Season As Meteorological Conditions Mirror 2005
thestatedtruth.com | May 3, 2010
 By Brian K. Sullivan May 4 (Bloomberg) — The 2010 Atlantic hurricane season may rival some of the worst in history as meteorological conditions mirror 2005, the record-breaking year that spawned New Orleans- wrecking Katrina, forecasters say. The El Nino warming in the Pacific is fading and rain is keeping dust down in Africa, […]
Last Weeks Bank Closings
thestatedtruth.com | May 2, 2010
The information on this week’s bank closings is staggering. The FDIC announced seven closings as of April 30, 2010, at 9:00 pm EST. The seven banks’ combined assets amount to $25.83 billion. They had combined deposits of $19.61 billion. The FDIC is projecting losses of $7.33 billion in connection with the seven closings. That is […]
U.S. Role in Mortgage Market Reaches 96.5% Of All Home Loans
thestatedtruth.com | April 30, 2010
By NICK TIMIRAOS The U.S. government’s massive share of the nation’s mortgage market grew even larger during the first quarter. Government-related entities backed 96.5% of all home loans during the first quarter, up from 90% in 2009, according to Inside Mortgage Finance. The increase was driven by a jump in the share of loans backed […]
John Williams Of “Shadowstatistics” Is A Specialist In Government Economic Reporting….He Says We’re Going To See An Intensified Downturn In The Near Future!
thestatedtruth.com | April 30, 2010
Everyone should take the time to read this, which is part of a broader interview done on April 30 . This will also effect interest rates.  ShadowStats’ John Williams has done his math and believes his numbers tell the truth. He explains why the U.S. is headed for or in a depression and why a […]
Oil Disaster…..Navy And Other Defense Department Resources Investigating
thestatedtruth.com | April 29, 2010
The Oil slick disaster, besides being a detriment to intended drilling projects, remains a mystery with respect to ‘cause’. Of course the dispatch of Navy and other Defense Department resources will be seen in the proper light of being helpful; while we ponder whether they’re investigating just in case something else happened; given the rig […]
Banks Bet Against U.S. Cities And States With Derivatives Using Credit Default Swaps
thestatedtruth.com | April 27, 2010
Banks Bet Against U.S. Cities, States First Posted: 04-27-10 Amidst growing pessimism about the financial condition of U.S. cities and states, investors are increasingly buying financial instruments that essentially allow them to short sell or bet against cities and states, says a Wall Street Journal report. Offered by banks like JP Morgan, Bank of America, […]
Barry Ritholtz Reviews The Case Against Goldman Sachs
thestatedtruth.com | April 23, 2010
The Daily Reckoning Presents   10 Things You Don’t Know (or were misinformed about) The Goldman Sachs Case I have been watching with a mixture of awe and dismay some of the really bad analysis, sloppy reporting, and just unsupported commentary about the GS case.I put together this list based on what I know […]
Mortgage Math
thestatedtruth.com | April 23, 2010
$10 Billion a Month Freed up Each Month from People not paying their Mortgage. $1.9 Billion of That is in California so People can continue Leasing their SUV Mercedes and Getting Tans. Thanks Bailouts! Posted: Thu, 22 Apr 2010 16:31:29 +0000 Living in California, the central hub of housing bubble mania, I have come to […]
Moody’s And S&P Influenced By Wall Street For Ratings
thestatedtruth.com | April 22, 2010
By Jesse Westbrook April 22 (Bloomberg) — Moody’s Investors Service and Standard & Poor’s were influenced by Wall Street, had insufficient resources and used outdated models to grade mortgage securities that blew up when the U.S. housing market collapsed in 2007, according to Senate investigators. The Senate Permanent Subcommittee on Investigations concluded after an 18-month […]
The Future of U.S. Housing……. An In Depth Report From MyBudget360
thestatedtruth.com | April 21, 2010
The Future of U.S. Housing – Projections of Household Formation, Loan Modification Data, 500,000 Option ARMs Still Active, and a Decade of Stagnation. Tue, 21 Apr 2010 Take what you knew about projecting housing for the last fifty years and throw it out the window. The big problem with using models post-World War II is […]
Jim Chanos Says Lehman Committed Financial Fraud
thestatedtruth.com | April 20, 2010
Jim Chanos, hedge fund manager and president of Kynikos Associates, sat down with FOX Business Network’s Charlie Gasparino and Brian Sullivan to talk Lehman Brothers (LEHMQ) investigation, Goldman Sachs (GS) vs SEC, predicting financial scandals and China.  Apr 20, 2010 Courtesy of Fox Business Network On whether Lehman was a criminal fraud: “I think […]
Stock Market Hustle – Three Ways Wall Street has Created a New American Serfdom And The Overly Expensive Mortgage Deduction
thestatedtruth.com | April 19, 2010
Posted: Sun, 19 Apr 2010      www.thestatedtruth.com Last week the S&P 500 almost reached an impressive 80 percent gain from the red abyss seen in March of 2009. This puts this stock market rally up in the ranks of the strongest and fastest market turnarounds in history. Yet on Friday news of Goldman Sachs betting on […]
U.S. TREASURY AUCTION – Historic Direct Versus Indirect Bids
thestatedtruth.com | April 18, 2010
U.S. TREASURY AUCTION – Historic Direct Versus Indirect Bids With a historic and massive $1.6 Trillion of new US government debt to be financed in 2010, as tax payers on the hook for this debt, we need to listen to what is concerning those that participate in the critically important US Treasury Auction. Additionally, we […]
The New World Of Mortgage Servicing Loss Mitigation
thestatedtruth.com | April 18, 2010
Welcome to the world of mortgage servicing loss mitigation… We now have the situation in this country where after delinquent borrowers are offered a loan modification option which takes the interest rate down to 2% for 5 years, extends the mortgage term to 40 years and forebears (soon will forgive) some of the principal balance […]
Goldman Real Estate Fund Down To $30m From $1.8 Billion
thestatedtruth.com | April 15, 2010
By Henny Sender in New York Published: April 16 2010 Whitehall Street International, Goldman Sachs’ international real estate investment fund, has lost almost all of its $1.8bn of equity following soured property investments in the US, Germany and Japan, according to the fund’s estimates. By the end of 2009, the fund was down to its […]
George Soros Warns Of Biggest Market Crash To Come, As “We Are Facing A Yet Larger Bubble” Than During Credit Crisis
thestatedtruth.com | April 15, 2010
04/15/2010 George Soros, speaking at a meeting organized by The Economist, warns all those who are throwing their money into the equity pit, that “the financial world is on the wrong track and that we may be hurtling towards an even bigger boom and bust than in the credit crisis.” Advice from Soros or from […]
Morgan Stanley Property Fund May Lose 66% Of Its Money
thestatedtruth.com | April 13, 2010
APRIL 14, 2010 By ANTON TROIANOVSKI And LINGLING WEI Morgan Stanley has told investors in its $8.8 billion real-estate fund that it may lose nearly two-thirds of its money from bum property investments, according to fund documents reviewed by The Wall Street Journal. That would likely make it the biggest dollar loss—$5.4 billion—in the history […]
Interest Rates Have Nowhere To Go But Up
thestatedtruth.com | April 11, 2010
From The New York Times By NELSON D. SCHWARTZ Published: April 10, 2010 Even as prospects for the American economy brighten, consumers are about to face a new financial burden: a sustained period of rising interest rates. That, economists say, is the inevitable outcome of the nation’s ballooning debt and the renewed prospect of inflation […]
Consumer Credit Still Falling
thestatedtruth.com | April 7, 2010
Fannie Mae On Real Estate…..Hint, It’s Not Good
thestatedtruth.com | April 7, 2010
From Fannie Mae on housing……………….. Housing Shaky At Best – CNBC’s Diana Olick had a somewhat scary report on foreclosures yesterday. She suggests a new wave is coming and it may be a whopper. She quotes the Fannie Mae chief as saying that home prices will dip again before hitting a new bottom later this […]
Interest Rates Are Rising……….
thestatedtruth.com | April 6, 2010
Just Exactly How Much Money Is A Trillion Dollars……..
thestatedtruth.com | April 5, 2010
During the past fifteen months, the Fed purchased $1.25 Trillion in MBS, which represented 80% of the mortgage market. Prior to this program, mortgage rates were above 6%. Now that the Fed program has ended, it’s reasonable to assume that mortgage rates will rise back towards those levels. Just How Much Money is $1.25 Trillion? […]
Downtown NYC Towers Sit Empty
thestatedtruth.com | March 30, 2010
By David M. Levitt March 30 (Bloomberg) — Downtown Manhattan, where demand for office space began to surge three years after the 9/11 terrorist attacks, is about to lose its spot as the best- performing U.S. market. Vacancies may exceed 14 percent of the area’s 87 million square feet by late 2011, empty space that’s […]
The Lost Decade….Stocks, Homes and Employment All Decline During The Last Ten Years!
thestatedtruth.com | March 29, 2010
Are You Middle Class?
thestatedtruth.com | March 26, 2010
Household Net Worth The typical household has a net worth of about $84,000, according to the Federal Reserve.  That’s down 30% since 2007, thanks to losses in stock portfolios and declining home values. For the 50% of families in the middle of the scale, household income ranges from $51,000 to $123,000 for a typical two-parent, […]
Half of U.S. Home Loan Modifications Default Again
thestatedtruth.com | March 25, 2010
By John Gittelsohn  March 25 (Bloomberg) — More than half of U.S. borrowers who received loan modifications on delinquent mortgages defaulted again after nine months, according to a federal report. The re-default rate of loans modified in the first quarter of 2009 was 51.5 percent by the end of the year, the Office of […]
“Fact and Comment†STEVE FORBES
thestatedtruth.com | March 25, 2010
STEVE FORBES, Forbes.com “Fact and Comment†(3/25/10): Socialists believe that the way to paradise is for governments to own “the means of production.” Thus, decades ago even democratic countries such as France and Britain nationalized considerable swathes of their economies to achieve “social justice.” That didn’t work so well; therefore, since the days of Margaret […]
New And Existing Home Sales
thestatedtruth.com | March 24, 2010
How The Middle Class Slowly Evaporated In The Last 40 Years
thestatedtruth.com | March 23, 2010
How the Middle Class Slowly Evaporated in the Last 40 Years – Loss of Manufacturing, Bank Deregulation, Hyper Consumption, and Short-term Profit Seeking from Wall Street. Posted: Tue, 23 Mar 2010 22:06:51 +0000 Some like to think that the middle class has always been a fixture of American society. In fact, the rise of a […]
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