thestatedtruth.com | January 7, 2010
Top Banks Invited To Basel Risk Talks By Henny Sender in New York Published January 7, 2010 The Bank for International Settlements will gather top central bankers and financiers for a meeting in Basel this weekend amid rising concern about a resurgence of the “excessive risk-taking†that sparked the financial crisis. In its invitation, the […]
thestatedtruth.com | January 7, 2010
Homebuyer Tax Credits ‘Exceptionally Inefficient’ By David Wilson Jan. 7 (Bloomberg) — Tax credits designed to revive the U.S. housing industry are costing taxpayers as much as $80,000 for every additional home sold, according to Michael R. Widner, a Stifel Nicolaus & Co. analyst. The federal program is “an exceptionally inefficient use of tax dollars,†[…]
thestatedtruth.com | January 7, 2010
U.S. Warns Banks to Guard Against Rate-Rise Risks By Scott Lanman and Craig Torres Jan. 7 (Bloomberg) — U.S. regulators including the Federal Reserve warned banks to guard against possible losses from an end to low interest rates and reduce exposure or raise capital if needed. “In the current environment of historically low short-term interest […]
thestatedtruth.com | January 7, 2010
If 2008 was the year of financial crisis and 2009 the year of healing via monetary and fiscal stimulus packages, then 2010 appears likely to be the year of “exit strategies,†during which investors should consider economic fundamentals and asset markets that will soon be priced in a world less dominated by the government sector. […]
thestatedtruth.com | January 7, 2010
There was a lot of buzz around Wall Street about a report released by TrimTabs yesterday. In the report, Charles Biderman goes through a lot of potential fund flows to fuel the rally that spiked market cap $6 trillion since March. He found them all wanting and speculated whether the rally had been funded with buying […]
thestatedtruth.com | January 7, 2010
The states are in a bad way, …..The first three quarters of 2009 were the worst on record for states in terms of the decline in overall state tax collections. 2010 is going to be very difficult for the states and the next year is likely to be significantly worse. The great recession hit virtually […]
thestatedtruth.com | January 6, 2010
thestatedtruth.com | January 6, 2010
The FOMC’s Great Debate Todd Harrison  JAN 06, 2010 3:30 PM       There are two potential downside catalysts: exhaustion and exogenous shock.       The following was posted originally in real time on the Buzz & Banter The FOMC minutes have been released and there seems […]
thestatedtruth.com | January 6, 2010
FOMC Discussed Expanding Purchases If Economy Weakens By Scott Lanman Jan. 6 (Bloomberg) — Federal Reserve officials last month debated increasing and extending asset purchases should the economy weaken, with a few favoring the move and one seeking a reduction, minutes of their last meeting showed. Policy makers also differed over whether risks are greater […]
thestatedtruth.com | January 6, 2010
thestatedtruth.com | January 5, 2010
Toyota’s Lexus Holds Off BMW, Keeps Luxury Lead For 10’th Year By Mike Ramsey Jan. 6 (Bloomberg) — Toyota Motor Corp.’s Lexus posted a 22 percent surge in December U.S. sales, finishing its 10th consecutive year in the top spot for luxury autos after fending off a challenge by Bayerische Motoren Werke AG. Lexus sold […]
thestatedtruth.com | January 5, 2010
Google Introduces Nexus One Handset to Take On IPhone By Brian Womack Jan. 5 (Bloomberg) — Google Inc., aiming to take on Apple Inc.’s iPhone and defend its dominance in Web search, introduced a touch-screen mobile phone called Nexus One and opened an online store for the handset. The device is 0.45 inches (11.5 millimeters) […]
thestatedtruth.com | January 5, 2010
This chart speaks for itself………….. Despite an abysmal 10-years of zero wealth creation and zero job growth, betting on a second consecutive Lost Decade seems like a bad wager.  And yet, it happened in Japan… But let’s not dwell on the negatives so early in this promising New Year. Instead, let’s consider the potential positives – […]
thestatedtruth.com | January 4, 2010
 by RYAN J. PUPLAVA, CMT | January 4, 2010 It’s a new year, and for newsletter writers and portfolio managers it means the bar has been reset. It’s time to put on our thinking caps and make grandiose predictions for the year to come. After watching CNBC for three days last week, I found […]
thestatedtruth.com | January 4, 2010
The big question……Is this a lagging indicator or a trend. AP: 2009 bankruptcies total 1.4 million, up 32 pct By MIKE BAKER, Associated Press Writer RALEIGH, N.C. – U.S. consumers and businesses are filing for bankruptcy at a pace that made 2009 the seventh-worst year on record, with more than 1.4 million petitions submitted, an […]
thestatedtruth.com | January 4, 2010
Gene Inger’s Daily Briefing . . . for Tuesday January 5, 2009:  Good evening;  The stock market performed in stellar manner; particularly for small caps as is typical; and just the way we would prefer with regard to setting-up the next phase of market action; though it doesn’t have to quickly occur. Actually […]
thestatedtruth.com | January 4, 2010
                             The Austrian School’s 7 Commandments: -The Austrian free-market economists use common sense principles. -You cannot spend your way out of a recession. -You cannot regulate the economy into oblivion and expect it to function. -You cannot tax people and businesses to the point of near slavery and expect them to keep producing. -You cannot create […]
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
The COT chart of the Dollar is linked below. It is extremely overextended internally and if any technical support levels get violated on the downside, a significant amount of long liquidation is going to occur. We got just a taste of that in today’s session as the Dollar came under strong pressure with year-end positioning now […]
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
thestatedtruth.com | January 3, 2010
Later Payments Are Jamming The Economy’s Gears               January 3, 2010                        By PHYLLIS KORKKI What’s one sign of a weak economy? People take longer to pay their bills. As a result, those who await payment have less money to pay their bills, and a cycle of slowness sets in, gumming up the economic works. […]
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
                 Index         P/E        Est. P/E    Div %  Price/Book   Price/Sales  Dow Ind 16.06 16.03 2.67   2.74x         1.33x  Dow Tran 29.60 38.66 1.76  2.25x        0.80x  Dow Util 12.89 13.10 4.21  1.59x        1.16x  S&P 500 22.16 17.61 2.06  2.21x        1.23x  Nasdaq 42.11 25.53 0.84  2.69x       0.20x Source: Bloomberg Key Interest […]
thestatedtruth.com | January 1, 2010
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
Security experts say the scanners may be the best defense in stopping attacks such as an attempt to bomb a Detroit-bound aircraft Christmas Day.
thestatedtruth.com | December 30, 2009
Kazakhstan Claims To Be Worlds Biggest Uranium Miner By Isabel Gorst in Moscow Published: December 30 2009 Kazakhstan said on Wednesday it had overtaken Canada and Australia to become the world’s biggest uranium miner as nations rich in the resource ramp up production to sell into a resurgent nuclear power industry. The announcement came the […]
thestatedtruth.com | December 30, 2009
U.S. Slaps New Duties On Chinese Steel By Alan Rappeport in Washington Published: December 30 2009 The US will impose tough new duties on Chinese steel piping imports, raising tensions with its biggest trading partner and emerging geopolitical rival. With Chinese piping imports worth $2.8bn in 2008, the case is the biggest against China brought […]
thestatedtruth.com | December 30, 2009
Pessimism about U.S. stocks among newsletter writers fell to the lowest level since April 1987, six months before the 20 percent crash in the S&P 500 known as Black Monday. The proportion of bearish publications among about 140 tracked by Investors Intelligence fell to 15.6 percent yesterday from 16.7 percent a week earlier. Sentiment has […]
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 29, 2009
How Your Income Stacks Up  by Kevin McCormally Where do you rank as a taxpayer? You may not feel rich earning $35,000 a year, but you’re in the top half of taxpayers. Make $70,000, and you earn more than 75 percent of fellow taxpayers. Even as the Great Recession ends, we know the economic […]
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