thestatedtruth.com | January 10, 2011
Push will turn into a shove…..Turn out the lights, the party is over!  Meredith Whitney’s prediction, which everyone was quick to mock and ridicule, is about to come back with a vengeance. State and Local finances are at risk. This idea is likely to pick up steam along the way. Some unpleasant news for pensioned […]
thestatedtruth.com | January 9, 2011
This is why Gold and Silver has been sought by the smart money! Brazil has warned that the world is on course for a full-blown “trade war†as it stepped up its rhetoric against exchange rate manipulation. Guido Mantega, finance minister, told the Financial Times that Brazil was preparing new measures to prevent further appreciation of […]
thestatedtruth.com | January 7, 2011
Uh….so will this really matter, other then the banks paying a bunch of lobbyists another billion dollars to fix things? Inquiring minds want to know! Wells Fargo & Co. and U.S. Bancorp  lost a foreclosure case in Massachusetts’s highest court that will guide lower courts in that state and may influence others in the clash between […]
thestatedtruth.com | January 7, 2011
Let’s call a spade, a spade. Seriously….this is a “HOT POTATO” to the tenth degree! Federal Reserve Chairman Ben Bernanke on Friday ruled out a central bank bailout of state and local governments hung with big municipal debt burdens, saying the Fed had limited legal authority to help. Bernanke: If municipal defaults do become a problem, it would […]
thestatedtruth.com | January 7, 2011
Total consumer credit increased modestly in line with expectations for November while revolving credit decreased by $4.2 billion, and non-revolving credit showed an increase of $1.3 but was down from a higher number of $5.7 billion in October. And…..Lending by the federal government for student loans continued to climb, benefiting from a law passed by Congress that makes the government […]
thestatedtruth.com | January 6, 2011
Rick’s Picks Thursday, January 6, 2011 “Phenomenally accurate forecastsâ€Â                                   (Cam Fitzgerald posted the following essay in the Rick’s Picks forum, but I am presenting it as a guest commentary because it discusses the all-too-real implications of America’s economic crisis so bluntly. Many of you, even the pessimists, will be troubled by this grim jeremiad, and […]
thestatedtruth.com | January 5, 2011
According to just released Census Bureau data, in 2009 total state revenue fell by 31%, from $1.6 trillion to $1.1 trillion. “The large decrease in total revenue was mainly caused by the substantial decrease in social insurance trust revenue. Social insurance trust revenue is made up of four categories — public employee retirement, unemployment compensation, workers […]
thestatedtruth.com | January 4, 2011
China’s growth between now and 2015 is going to be epic, and many industries focusing on the consumer are going to benefit, according to Credit Suisse. The top 5 growth industries through 2015 are: E-Commerce (set to grow 400%!) Outstanding Corporate Bonds Life Insurance Wealth Management Personal Computer Sales Industries like footwear sales and healthcare […]
thestatedtruth.com | January 2, 2011
Here in lies the problem….Fred Siegel, a historian at the conservative-leaning Manhattan Institute, has written of the “New Tammany Hall,†which he describes as the alliance between public officials and labor. “Public unions have had no natural adversary; they give politicians political support and get good contracts back,†“It’s uniquely dysfunctional.†In California, pension costs […]
thestatedtruth.com | January 2, 2011
It should be a national law that the IDIOTS running things at least understand basic math! If so, we wouldn’t be in this mess now. This sets the table…..you can’t go back to 2008 spending levels and still see growth in the economy. Plain and simple! On the other hand, we can never grow our […]
thestatedtruth.com | December 29, 2010
ICI reports U.S. domestic equity funds saw an inflow of $335 million for the first time in 34 weeks. This compared with last week’s $2.4 billion outflow. So after pulling money for 33 consecutive weeks, and withdrawing over $98 billion in capital from domestic equity mutual funds, the record has ended. Muni bonds are now the […]
thestatedtruth.com | December 26, 2010
Beware of the “Ides of March”….This makes all the sense in the world, as the second crisis will likely be bigger and more dynamic then the first one.  America is storing up a second financial crisis by keeping interest rates at record low levels, according to David Einhorn, the hedge fund manager who first publicly […]
thestatedtruth.com | December 26, 2010
Nearly 100 U.S. banks that got bailout funds from the federal government now show signs they are close to failing. The total, based on an analysis of third-quarter financial results by The Wall Street Journal, is up from 86 in the second quarter, reflecting eroding capital levels, a pileup of bad loans and warnings from […]
thestatedtruth.com | December 25, 2010
thestatedtruth.com | December 25, 2010
The new world order will see tax hikes every where, it’s unavoidable! Cities across the nation are raising property taxes citing rising pension and health-care costs for their employees and retirees. Local officials and government workers say a confluence of factors is driving the increases, including the need to make up for staggering investment losses […]
thestatedtruth.com | December 22, 2010
thestatedtruth.com | December 22, 2010
Nationally, property taxes now dominate local tax revenues. The problem is once the local government obtains that gargantuan revenue stream as it has, it becomes the “baseline of dependency” for all future years, and that’s exactly what’s going on now!  But there is a small ray of sunshine here.  A heads up…..Homeowners in most locales can […]
thestatedtruth.com | December 21, 2010
Auh, so my calculator doesn’t go that high, come again……..In layman terms, we’re talking about a trillion dollars!
thestatedtruth.com | December 21, 2010
WikiLeaks recently said it would target a large U.S. bank.  Bank of America was the rumored victim. This has now been confirmed. Agence Press France is reporting: Julian Assange confirmed that WikiLeaks was holding a vast amount of material about Bank of America which it intends to release early next year.
thestatedtruth.com | December 20, 2010
Stay tuned…..This will be a big story, maybe as soon as tomorrow. A heads up, last Friday Bank of America blocked all of Wikileaks payments. So… Is that a hint of a nervous banker? According to an advance preview of an interview with Julian Assange by the Times of London’s Alexi Mostrous, the Wikileaks founder has announced […]
thestatedtruth.com | December 20, 2010
$2 Trillion Debt Crisis Threatens To Bring Down 100+ U.S. Cities Way to go Meredith Whitney…..Logic says the states will be doing huge (really huge) cut backs and layoffs…..So inquiring minds want to know how the economy can grow in these circumstances. To all of the economists out there, it sounds like Meredith is one of the few that gets it! […]
thestatedtruth.com | December 19, 2010
Some interesting changes were made on December 16’th concerning Credit Unions!  Stay Tuned! As of the end of  November, 372 federally insured credit unions with assets of $43.4 billion were designated as CAMEL code 4 or 5. In addition, there were 1,792 CAMEL 3 credit unions with assets of $158.2. Overall, 22.3 percent of all credit union assets are […]
thestatedtruth.com | December 17, 2010
Debit cards are the new growth area…..”The lowest percentage of shoppers in the 27-year-history of a national survey said they used credit cards over the Thanksgiving weekend, while the use of general credit cards like Visa and MasterCard fell 11 percent in the third quarter from a year earlier, according to the credit bureau TransUnion. “Britt […]
thestatedtruth.com | December 16, 2010
The most recent look at the 30 Year Cash Fannie Mortgage showed a rise by 11 bps overnight, and by a stunning 1% in the last month. At 4.703% the prevailing wholesale mortgage rate is back to the highest it has been since May 2010. And while some have speculated that this inflection in rates would have […]
thestatedtruth.com | December 15, 2010
This chart sure goes back a long ways in time!  1792-Present!  Geez
thestatedtruth.com | December 15, 2010
Protesters: Â “We want the government to take back the latest labor law that will hurt workers’ rights.”….Not a chance, didn’t they hear that Greece is broke. ATHENS, Greece (AP) — Protesters clashed with riot police across Athens on Wednesday, torching cars, hurling gasoline bombs and sending Christmas shoppers fleeing in panic during a general strike […]
thestatedtruth.com | December 12, 2010
No good solutions ahead and problems galore, but this one was needed badly! The Senate votes on the fiscal package Monday at 3:00 pm. Assuming it passes, the House of Representatives is likely to vote later in the week. Congress plans to adjourn for the year December 17. President Barack Obama’s tax-cut deal with Republicans […]
thestatedtruth.com | December 10, 2010
According to research released today by Cogent, affluent Americans are closing brokerage accounts an increasing clip: 13% of affluent individuals closed at least one account in the last 12 months, more than twice the pace of account closures in the previous five years. Fidelity Investments:Â Â Â Â Â Â Â Â Â Â 15% Wells Fargo Advisors:Â Â Â Â Â Â Â Â 11% Merrill Lynch:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â […]
thestatedtruth.com | December 10, 2010
For those who understand this, no explanation is needed. For those who do not understand this, no explanation is possible, you flunked kindergarten. Kindergarten Economics….The Tax System Explained In Layman Terms Ten men go out for beer and the bill for all ten comes to $100…If they paid their bill the way we pay our taxes, it would go […]
thestatedtruth.com | December 9, 2010
The Federal Reserves’s worst nightmare has just come true. Representative Ron Paul, Texas Republican and author of “End the Fed,†will take control of the House subcommittee that oversees the Federal Reserve. House Financial Services chairman-elect Spencer Bachus, an Alabama Republican, selected Paul, 75, to lead the panel’s domestic monetary policy subcommittee when their party […]
thestatedtruth.com | December 9, 2010
Definition: A Credit Default Swap (CDS) is a swap contract and agreement in which the protection buyer of the CDS makes a series of payments (often referred to as the CDS “fee” or “spread”) to the protection seller and, in exchange, receives a payoff if a credit instrument (typically a bond or loan) experiences a […]
thestatedtruth.com | December 9, 2010
From the looks of this, it understates the actual wealth loss by about 2-4% This from todays Federal Reserve Z1 report……”business debt increased to an all time record high of $7,351 billion, an $82 billion increase in the quarter”…..so yes I know corporate cash is very high, but so is corporate debt…….they’re borrowing to put cash on […]
thestatedtruth.com | December 7, 2010
The Stated Truth  Op-Ed Tuesday, December 7, 2010 Let’s Go Back In Time……To 1997 In July 1997, the Asian crisis evolved into fears of a worldwide economic meltdown due to financial contagion. On December 1st 1997 South Korea had to be saved with a $55 billion bailout. It was then the largest bailout in the history of the world, […]
thestatedtruth.com | December 5, 2010
Here are a couple of zinggers…..Ben Bernanke: Economic recovery is very close to not being self-sustaining…..Anyone surprised on this one? …….and……We’re looking at ten, 15, 20 years from now, a situation where almost the entire federal budget will be spent on Medicare, Medicaid, Social Security, and interest on the debt. There won’t be any money left for the military […]
thestatedtruth.com | December 5, 2010
Sounds like the United States had better re-assess its relationship with China……The situation becomes even more interesting with China owning so much of the United States debt (bonds). Oh, that’s right, we can’t…..nobody else will buy our debt. “Patriotic hackers†backed by Chinese authorities conducted extensive computer hacking on U.S. government agencies and companies, including computer networks of […]
thestatedtruth.com | December 4, 2010
Federal, State and Local City workers are about to see related  jobs destroyed. This has never…read never happened before. Governments at every level are broke. This is going to end badly. It will take a while, but it will end badly. There simply isn’t economic growth when this happens. Period! A few years down the road, […]
thestatedtruth.com | December 4, 2010
We fully expect that the ‘can will get kicked down the road’ on this matter…… WASHINGTON…..An increase to the federal government’s borrowing limit is being considered in talks on extending the Bush-era tax cuts. But that issue would be politically very toxic. The current federal government debt limit stands at $14.3 trillion, a mark that may be reached […]
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