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 […]
thestatedtruth.com | March 18, 2010
Mar 18, 2010 6:16 am US/Eastern NEW YORK (CBS) ― For hundreds of thousands of New Yorkers, the check won’t be in the mail — at least not on time. New York State has stopped paying tax refunds and won’t start again until next month. The tax refund delay is part of a bigger cash […]
thestatedtruth.com | March 17, 2010
thestatedtruth.com | March 16, 2010
Pink Slips Sent To Thousands Of Calif. Teachers By ROBIN HINDERY, Associated Press Writer Monday, March 15, 2010 California’s budget crisis could cost nearly 22,000 teachers their jobs this year. State school districts had issued 21,905 pink slips to teachers and other school employees by Monday, the legal deadline for districts to send preliminary layoff […]
thestatedtruth.com | March 16, 2010
Moody’s fears social unrest as AAA states implement austerity plans The world’s five biggest AAA-rated states are all at risk of soaring debt costs and will have to implement austerity plans that threaten “social cohnesion”, according to a report on sovereign debt by Moody’s. By Ambrose Evans-Pritchard Published: 6:48PM GMT 15 Mar 2010 The US […]
thestatedtruth.com | March 16, 2010
When Money Supplies Go Wild! Â Â Â Â Â Â Â Â Â Â By James Turk The US money supply is much bigger than the official numbers indicate…$1.25 trillion bigger, to be exact. If you care about the value of the dollars in your pocket, this information should matter greatly to you. As the financial crisis has unfolded over the last two […]
thestatedtruth.com | March 13, 2010
Source: TGRÂ Â 03/12/2010 Â Charismatic, articulate, contrary and persuasive, Rick Rule probably could draw an audience if he were talking about the weather. But combine his presence with character, knowledge, understanding, experience and a track record of success, particularly in the resource arena, and the crowd falls silent. People listen to what Rick has to say and, […]
thestatedtruth.com | March 13, 2010
Cumberland Advisors What Is He Thinking? March 12, 2010 Bob Eisenbeis is Cumberland’s Chief Monetary Economist. Prior to joining Cumberland Advisors he was the Executive Vice President and Director of Research at the Federal Reserve Bank of Atlanta. Bob is presently a member of the U.S. Shadow Financial Regulatory Committee and the Financial Economist Roundtable. […]
thestatedtruth.com | March 11, 2010
Silverstein May Default on Debt for 575 Lexington By Brian Louis and David M. Levitt March 10 (Bloomberg) — New York developer Larry Silverstein, who teamed with the California State Teachers Retirement System to buy a 35-story skyscraper in 2006, now faces “imminent default†on debt tied to the property, Fitch Ratings said today. Silverstein […]
thestatedtruth.com | March 9, 2010
China’s Challenge March 9, 2010 | 0958 GMT  By Jennifer Richmond and Rodger Baker China’s National People’s Congress (NPC) remains in session. As usual, the meeting has provided Beijing an opportunity to highlight the past year’s successes and lay out the problems that lie ahead. On the surface at least, China has shown remarkable […]
thestatedtruth.com | March 9, 2010
It is happening everywhere. There is no way out that supports political expedience other than “QE to infinity.” If the Fed doesn’t play ball they are history. The shot caller is political expediency.          Jim Sinclair Top Bell aide says Toledo likely to face ‘fiscal emergency’ Potential strategy to secure labor concessions disputed. By IGNAZIO […]
thestatedtruth.com | March 9, 2010
SULTANS OF SWAP:  Fearing the Gearing! Ever imagine getting your tie caught in a mechanical set of gears (sorry ladies – but I will spare you). The results are nasty! Now you know what the Sultans of Swap in the $695 Trillion global OTC derivatives market feel like. Every day the slow moving gears of […]
thestatedtruth.com | March 7, 2010
Does that make them (you know the old saying)…. indian traders?  This doesn’t sound good, to say the least!   It will also likely effect aspects of world markets in commodities, real estate and stock markets because they’ve been a large part of world growth.    China plans to nullify all guarantees local governments have provided for loans taken by […]
thestatedtruth.com | March 5, 2010
Oh, the poor poor banks, they never thought it would come to this!  First they are asked, then they will be told to do these “push-backs”. Fannie, Freddie Ask Banks To Eat Soured Mortgages By Bradley Keoun March 5 (Bloomberg) — Fannie Mae and Freddie Mac may force lenders including Bank of America Corp., JPMorgan Chase […]
thestatedtruth.com | March 4, 2010
Not “unexpected surprise” except to the government maybe……………last week showed unexpected declines in purchases of new and existing homes.  Foreclosures pose another threat. Foreclosure filings rose 15 percent in January compared with a year earlier and exceeded 300,000 for the 11th straight month, RealtyTrac Inc. said Feb. 11.Toll Brothers Inc. Chief Executive Officer Robert […]
thestatedtruth.com | March 3, 2010
The middle class is finding itself struggling to keep what was once seen as staples of a burgeoning working class in our country. Part of this battle has come from a system that has rewarded easy finance on the backs of the working class. Take for example residential real estate. For decades, this was probably […]
thestatedtruth.com | March 3, 2010
NY State Cuts Revenue Estimate By $850 Million Posted March 3, 2010 NEW YORK (Reuters) – New York Governor David Paterson and the state legislature have agreed to reduce their revenue forecast by $850 million for the next 13 months, a state report said on Tuesday. The Democratic governor in February cut $750 million from […]
thestatedtruth.com | March 3, 2010
Indiana Puts 17th Notch In Revenue Shortfall Belt By Eric Bradner Posted March 2, 2010 at 11:45 p.m. INDIANAPOLIS — Indiana now has had 17 consecutive months of bad fiscal news. The latest revenue report on Tuesday showed the state took in $85.5 million less in taxes in February than was predicted less than three […]
thestatedtruth.com | March 2, 2010
thestatedtruth.com | March 2, 2010
This program has been a total failure at a radical cost to us the tax payers. FHFA has reviewed the current market situation and the state of mortgage insurance availability and has determined that the market conditions that necessitated the actions taken last year have not materially changed. Fannie, Freddie and FHA are broke. FHA […]
thestatedtruth.com | March 2, 2010
 Pimco’s El-Erian: We’re half-way through a ‘multiyear resetting of the global economy’   By Drew Carter March 2, 2010  The world is in the middle of a multiyear resetting of the global economy, Mohamed El-Erian, PIMCO CEO and co-chief investment officer, said at a news conference in London today.He said it will take […]
thestatedtruth.com | March 1, 2010
A Crash Course in Historic Market Crashes  Ron Coby MAR 01, 2010 9:10 AM        Today’s market peak looks eerily similar to the ones in 1929, 1930, 1987, and 2007.       Talking head after talking head appear on the TV daily telling everyone […]
thestatedtruth.com | February 27, 2010
Bad seats, hey buddy….or Freddie as the case may be! Â www.ingerletter.com
thestatedtruth.com | February 27, 2010
“By increasing the volume of their government securities and loans and by lowering Member Bank legal reserve requirements, the Reserve Banks can encourage an increase in the supply of money and bank deposits. They can encourage but, without taking drastic action, they cannot compel. For in the middle of a deep depression just when we […]
thestatedtruth.com | February 24, 2010
From the floor of the New York Stock Exchange, Art Cashin talks about early week comments from Ex Fed Chairman Alan Greenspan and SF Fed President Janet Yellen……….Not good, to say the least!    WASHINGTON — Former Federal Reserve Chairman Alan Greenspan said on Tuesday the U.S. economic recovery was “extremely unbalanced,” driven largely by high earners […]
thestatedtruth.com | February 24, 2010
WASHINGTON—U.S. new-home sales unexpectedly fell in January, setting a record low and erasing all gains made in the market during the past year as the economy recovers from recession. Demand for single-family homes fell 11.2% from the previous month to a seasonally adjusted annual rate of 309,000, the Commerce Department said Wednesday. Economists surveyed by […]
thestatedtruth.com | February 24, 2010
This may happen sooner rather then later based on how much real estate they’re building over there (many entire new towns and cities are being built on speculation and sitting empty.)  …..China’s economic growth will plunge to as low as 2 percent following the collapse of a debt- fueled bubble within 10 years, sparking a regional […]
thestatedtruth.com | February 23, 2010
thestatedtruth.com | February 23, 2010
thestatedtruth.com | February 23, 2010
Shiller is saying that the real estate market is artificial in nature.  Sounds like the “free market” is down the drain, everything is now supported by the U.S. government. So…..what happens when the government backs off on these gift programs? The fear and logical conclusion is down we go until we find a “free market” bottom based on […]
thestatedtruth.com | February 23, 2010
thestatedtruth.com | February 22, 2010
Quantitative Easing and the Electronic Money Printing Machine – Saying Goodbye to Historically Low Mortgage Interest Rates. Federal Reserve 95 Percent Complete on Buying $1.25 Trillion in Mortgage Backed Securities. Posted   02-22-2010 People forget that quantitative easing is a form of creating something out of nothing. This extreme form of monetary policy is called upon […]
thestatedtruth.com | February 22, 2010
 Dr Joe Duarte February 22, 2010  How Derivative Magic Can Turn Into A Black Hole  The Euro rallied for a period overnight, as rumors of a bailout package from Germany aimed at Greece surfaced. But a denial from the German Ministry of Finance knocked the European currency below Friday’s close. That’s the scenario with […]
thestatedtruth.com | February 18, 2010
Gene Inger’s Daily Briefing . . . for Friday February 19, 2010:  Good evening;     On top of the market’s cyclical roof . . . sits tradition. Perhaps not Zero Mostel but a ‘Fiddler on the Roof’ nevertheless (and there is a slight resemblance with Bernanke I’d say; minus a couple hundred pounds). Tradition holds […]
thestatedtruth.com | February 18, 2010
Comstock Partners, Inc. Economic Momentum May Have Already PeakedFebruary 18, 2010 Don’t look now, but economic momentum, as sluggish as it was, may have already peaked. Fiscal support for the economy may be more of a restraint as the year goes by, and any attempt at additional stimulus will face major headwinds as public sentiment […]
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