thestatedtruth.com | July 6, 2011
This from the great Art Cashin on the floor of the New York Stock Exchange……Art digs into this subject headline. “Borrowing by small U.S. businesses rose at a record pace in May”, according to data, a sign that economic growth is poised to pick up in coming months…..the insinuation is that the government and big […]
thestatedtruth.com | July 5, 2011
Here’s a heads up on the United States debt debacle…….word has come from Washington that President Obama will use the 14th amendment to declare the debt limit as unconstitutional, if need be. Rock and Roll! On the other hand, it may be unconstitutional to call the 14th amendment unconstitutional, if you get our drift. James […]
thestatedtruth.com | June 28, 2011
Interest rates are at record 100 year lows, but even so, the world is sporting an unusually slow learning curve! Logically speaking, if interest rates were to climb,  it would be “lights out, game over” and the mother of all depressions. Something to think about since no one else seems to be interested. BIS is warning of higher rates […]
thestatedtruth.com | June 27, 2011
Remember the old saying, you’re only as strong as the weakest link….or links which is the case more often now days. Looks like the dominoes in Ireland are falling. They’re not alone. “Ireland is screwed,” said a local expert. “Our property developers are broke. And they owe a lot of money to the banks. So they’re broke too. […]
thestatedtruth.com | June 26, 2011
From The Wall Street Journal….. Today, U.S. consumers have more mortgage and credit-card debt than they did five years ago. Given the difficulties of paying down debt, “you have to get comfortable with the idea that it’s going to take a long time for the markets to adjust and for the economy to get back on […]
thestatedtruth.com | June 18, 2011
There is good news here, and not so good news……..in a nutshell, the economy is flat and not growing but not collapsing either. That sort of sums it up, the good and the bad! By Lee Adler Month to date Federal withholding taxes as of June 15 were down 5.5% from last year, negating the monthly […]
thestatedtruth.com | June 13, 2011
Greece goes down, just a matter of when! The Greece bonds are now considered junk by rating standards. The big question is does Greece take down the whole Euro complex? Greece was branded with the world’s lowest credit rating by Standard & Poor’s, which said the nation is “increasingly likely†to face a debt restructuring and the […]
thestatedtruth.com | June 8, 2011
Bill Gross has been on a roll talking about this……….Governments such as the U.S. are intentionally keeping interest rates artificially low to help reduce record debt levels, setting up investors up for a “pocket picking.†The U.S. has done little to reduce the size of the excess liabilities accumulated, Pimco wrote in what it called […]
thestatedtruth.com | June 7, 2011
You won’t hear this from the government…..the gap between spending commitments and revenue last year equals more than one-third of the nation’s gross domestic product. From USA Today: The federal government’s financial condition deteriorated rapidly last year, far beyond the $1.5 trillion in new debt taken on to finance the budget deficit, a USA TODAY […]
thestatedtruth.com | June 3, 2011
Hmm….So whom might we ask, bought all this crap? How about the U.S. Federal Reserve…it’s as good a guess as any! And most people probably didn’t think (the) markets were rigged….shame on them! China has dropped 97 percent of its holdings in U.S. Treasury bills, decreasing its ownership of the short-term U.S. government securities from a peak of $210.4 billion in May 2009 to […]
thestatedtruth.com | May 31, 2011
From the Wall Street Journal. These are ridiculous numbers, no society can operate for long with so such concentrated wealth, this will have to change…….The world’s millionaires represent 0.9% of the world’s population but control 39% of the world’s wealth, up from 37% in 2009. Those with $5 million or more represent 0.1% of the […]
thestatedtruth.com | May 30, 2011
Robert Reich is a well qualified guy……we agree with most everything he says, politics aside to stay objective of course! Reich: During the Great Prosperity the American middle class saved about 9 percent of their after-tax incomes each year. By 2008, Americans saved nothing, and the typical American owed 138 percent of their after-tax income. The fundamental […]
thestatedtruth.com | May 30, 2011
We’ve had some very smart people talk pointedly about this lately…..In an almost verbatim repeat of Carl Icahn’s words of caution which were noted recently, Templeton’s legendary chairman Mark Mobius said that “another financial crisis is inevitable because the causes of the previous one haven’t been resolved.” And we would venture, that’s official! The total value of […]
thestatedtruth.com | May 29, 2011
Dvid Kotak: Greece is about to blow up. Black butterfly fear plagues the Eurozone’s banking system. Can Greece take down all of Europe! Well, they’re going to try.   We like this part of the review below, Will Roger’s old adage applies: “If you find yourself in a hole, stop digging.â€Â Cumberland Advisors Les Papillons Noirs […]
thestatedtruth.com | May 26, 2011
Drastic cuts in expenditures would put the world, not just the U.S. in the mother of all depressions! The U.S. is in what we would call a “Pickle”, come to think of it so is Europe. Can’t win no matter what! So what happens then…hopefully we muddle along until the next financial crisis comes along, […]
thestatedtruth.com | May 26, 2011
Here are some of his key points….Policymakers have embraced initiatives designed to boost asset prices, divorcing them from economic fundamentals.  The impact on Main Street has fallen well short of expectations. Interest rates have been repressed. The dollar has also seriously weakened. The net effect has been a double edged sword. “Good†asset price inflation has […]
thestatedtruth.com | May 26, 2011
Does anyone really doubt that the markets (Bonds,Stocks and Real Estate) are not an artificial rig job! In the past that wasn’t the case.  But times have changed. We guess desperate times call for desperate measures. Hmm. So here it is again: a secret bailout program used to “rip” the peasantry by the entitled kleptocrats, which nobody thought would […]
thestatedtruth.com | May 25, 2011
From King World News……Michael Pento Of Europacific Capital…non-financial debt as a percentage of GDP is now 244%, it has never been higher! QE2 is done, if interest rates rise it’s game over.  “I just want to highlight some things that Jim Bullard said (President of the St. Louis Federal Reserve): You have to remember that he […]
thestatedtruth.com | May 25, 2011
So…what happened to all of the buyers….Auh,  looks like they must have figured it out, smartened up, that the government was manipulating and artificially maintaining the markets higher with low interest rates and first time buyer credits along with Fannie Mae lost leader loans, etc. and through the puppet strings of the banks that are given privileged favors from the […]
thestatedtruth.com | May 22, 2011
One has to respect Jim Grant’s views….we couldn’t have said it better ourselves! From AP: A graduate of Indiana University, Grant, 64, was a Navy gunner’s mate before starting his journalism career at the Baltimore Sun in 1972. He then joined the financial weekly Barron’s before starting Grant’s Interest Rate Observer in 1983. As stocks […]
thestatedtruth.com | May 21, 2011
Lakshman Achuthan, founder and managing director of the Economic Cycle Research Institute (ECRI), is calling for a slowdown in global economic growth by this summer. Based on our Long Leading Index of global industrial growth, we expect a downturn to start by summer. Beforehand, prominent shorter-leading indicators of industrial growth, like JoC-ECRI industrial commodity price […]
thestatedtruth.com | May 16, 2011
So here’s the real question…..is any kind soul going to bother pulling your stupid dumb ass out of this precarious spot you’ve put yourself in! Sort of reminds us of the U.S. debt situation, kind of stuck between a rock and a hard place trying to raise the debt ceiling.
thestatedtruth.com | May 12, 2011
Among other things, Dinan says……“The lessons of ‘07 and ‘08 are totally forgotten,†Dinan warned. “The thinking that ‘I won’t be left behind when the music stops.’ That’s very dangerous thinking.†  Jamie Dinan, York Capital: Banks Jamie Dinan, founder of $17 billion hedge fund York Capital Management LP, talks about financial stocks. “The amount of […]
thestatedtruth.com | April 30, 2011
From The Wall Street Journal….Retirement annuities, may not be such a good idea after all, especially now. Read on! Turmoil in the stock market. Paltry interest rates at the bank. What are the newly retired to do? Many are taking a look at buying a fixed annuity instead. These products let you swap a lump […]
thestatedtruth.com | April 25, 2011
Low interest rates are here forever….or it’s game over! Realistically speaking, we all know interest rates can’t stay low forever, so…..it’s just a matter of time. With ultra low interest rates, the U.S. interest expense is $440 billion this year or 3% of GDP. If government borrowing rates were to rise a mere 2%, interest expense […]
thestatedtruth.com | April 24, 2011
David Kotak out with his latest opinion of how things are….normally David has more answers then questions! Hmm….. Cumberland Advisors FDIC & Fed: more questions than answers April 23, 2011 We thank readers for their kind words about Scylla and Charybdis (www.cumber.com). We also thank friends Dennis Gartman, John Mauldin and Barry Ritholtz for sharing the […]
thestatedtruth.com | April 21, 2011
Jim Grant ranks in the top tear of analysts covering interest rates…..right at the top of the list with Bill Gross, the founder of PIMCO (the worlds largest bond manager). From his latest Grant’s Interest Rate Observer: “Almost 30% of the respondents to a poll conducted by UBS a few weeks back said they anticipate a […]
thestatedtruth.com | April 20, 2011
This just in from S&P, which does a follow up to its earlier U.S. outlook warning, and revises its GSE and FHLB outlook to negative. Let’s remember that this is happening in an economic (supposed) recovery. NEW YORK (Standard & Poor’s) April 20, 2011–Standard & Poor’s Ratings Services said today that it revised its outlooks on […]
thestatedtruth.com | April 20, 2011
An excellent review of the world economic picture and the future of Gold By Ron Hera April 15, 2011 ©2011 Hera Research, LLC The Hera Research Newsletter (HRN) is pleased to present an in-depth interview with Jim Sinclair, Chairman and CEO of Tanzanian Royalty Exploration and founder of Jim Sinclair’s MineSet, which hosts his gold commentary […]
thestatedtruth.com | April 14, 2011
Say what, how much did the IMF say….yep, pushing 4 trillion dollars, looks like another piece of dynamite looking for a match!!   For 2011, Japan and the United States face the largest public debt rollovers of any advanced economy at 56 percent and 29 percent of gross domestic product, respectively. It repeated its warning that the United […]
thestatedtruth.com | April 6, 2011
Portugal has been saying we are good, we don’t need help…they have been saying it over and over…Now, Portugal says we need help fast! The dominoes are falling in Europe, and we haven’t seen anything yet! Running out of money and paralyzed by a political crisis, Portugal said it would ask the European Union for a financial […]
thestatedtruth.com | April 1, 2011
Governments are STUPID……Last week we found out that fewer new houses were sold in February than in any month since they started keeping records in 1963….yep, the more you give somebody, the more they become reliant on it, then when it stops, they don’t know what to do. We’re seeing this same thing happen over and over. […]
thestatedtruth.com | March 31, 2011
To see the real story, just look at the charts….. The top 1 percent control 42 percent of all financial wealth. Growing Inequality…the middle class vs. the rich Growing Inequality…in income Source: Social Security Does this look like a recovery to you?  More and More Food Stamps……and no end in sight And Real Estate values are […]
thestatedtruth.com | March 30, 2011
Some sound advice….It’s going to be a long negative haul for housing and there is nothing on the horizon, such as an improving economy, lower unemployment, or climbing wages to stem the flow. There were simply too many homes built during the boom phases at affordability rates that didn’t make sense. Those who can afford to […]
thestatedtruth.com | March 29, 2011
Robert Shiller today said that inflation adjusted economic statistics are clearly in the double dip.  U.S. single family home prices fell for the seventh month in a row in January, according to the S&P/Case-Shiller index of prices.  In four cities, prices were at their lowest for 11 years, with the overall index down 0.2% between December […]
thestatedtruth.com | March 23, 2011
Well, records are made to be broken…..At just 250,000 annualized, this was the lowest annualized new home sales number ever. The government continues to say we have a recovery, they are right to some degree. The problem is the whole recovery is being supported by the government….anyone care to guess what will happen without that support. […]
thestatedtruth.com | March 22, 2011
The United States is on a fiscal path towards insolvency and policymakers are at a “tipping point,” according to Dallas Federal Reserve Bank President Richard Fisher. “If we continue down on the path on which the fiscal authorities put us, we will become insolvent, the question is when,” Dallas Federal Reserve Bank President Richard Fisher said in […]
thestatedtruth.com | March 19, 2011
Notice if you will, the house in the chart below is upside down…..how appropriate! One hundred years of the government’s attempts to mute the natural business cycle are slowly and painfully coming to an end. A period where the government proactively encouraged consumption until it became 70% of the economy, we produced very little, and […]
thestatedtruth.com | March 15, 2011
Some more thoughts on Japan….we are told, (hopefully correctly), that this is more of a repeat of a Three Mile Island situation where half the fuel rods melted, than Chernobyl where they all did. And…Small amounts of low radiation cesium and iodine have already been released, which should be measurable on American roof tops in about ten […]
thestatedtruth.com | March 10, 2011
Interesting….. Bank of America Says Nearly Half Its Mortgages Are ‘Bad’ Washington Business Journal Bank of America Corp. is segregating almost half its 13.9 million mortgages into a “bad†bank comprised of its riskiest and worst-performing “legacy†loans, Bloomberg News reported, citing Terry Laughlin, who is running the new unit. “We are creating a classic […]
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