thestatedtruth.com | July 12, 2010
2010-07-12 “Figures provided by FICO Inc. show that 25.5 percent of consumers — nearly 43.4 million people — now have a credit score of 599 or below, marking them as poor risks for lenders. It’s unlikely they will be able to get credit cards, auto loans or mortgages under the tighter lending standards banks now […]
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thestatedtruth.com | July 11, 2010
By Michael McDonald      Jul 11, 2010 States can’t count on the federal government for more budget bailouts, the heads of President Barack Obama’s debt commission told governors today. States that are expecting Congress to authorize more bailout money are “going to be left with a very large hole to fill,†said Erskine Bowles, co-chairman of […]
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thestatedtruth.com | July 8, 2010
WASHINGTON -(Dow Jones)- The federal budget deficit for the first nine months of the 2010 fiscal year was just over $1 trillion, the Congressional Budget Office reported Wednesday. The shortfall, reflecting $2.6 trillion in outlays for the first three quarters and $1.6 trillion in receipts, narrowed slightly compared with the same point in fiscal 2009. […]
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thestatedtruth.com | July 8, 2010
By Vincent Del Giudice       Jul 8, 2010  Consumer borrowing in the U.S. dropped in May more than forecast, a sign Americans are less willing to take on debt without an improvement in the labor market. The $9.1 billion decrease followed a revised $14.9 billion slump in April that was initially estimated as a $1 billion […]
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thestatedtruth.com | July 8, 2010
Nice of the IMF to warn us………. By Tyler Durden   07/08/2010 The IMF has issued a less than stellar outlook of the US economy after consultations with US government authorities, in which it cautions that even as the outlook has generally improved, major downside risks remain: “On the downside, the backlog of foreclosures and high […]
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thestatedtruth.com | July 8, 2010
Now all you have to do is qualify! Today, Freddie Mac announced that the 30 Year FRM declined to a new all time record low, dropping by 1 bp to 4.57% from the week before. Yet even as mortgage rates hit fresh weekly records courtesy of the Fed’s undisputed control of the mortgage market, the […]
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thestatedtruth.com | July 5, 2010
The U.S. workforce shrank by 652,000 in June, one of the sharpest contractions ever. The rate of hourly earnings fell 0.1pc. Wages are flirting with deflation. So, can things get much worse? Yes! By Ambrose Evans-Pritchard Published: 9:33PM BST 04 Jul 2010 Ambrose Evans-Pritchard: Comment  “Home sales are down. Retail sales are down. Factory […]
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thestatedtruth.com | July 2, 2010
It looks like the only ones in denial are the government officials, or is it that if they told us how bad things really are, everyone would freak? Pacific Investment Management Co.’s Bill Gross and David Rosenberg, chief economist at Gluskin Sheff & Associates Inc., said June’s employment report indicates sluggish job growth and a […]
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thestatedtruth.com | June 30, 2010
U.S. debt has gone from 40% of the economy in 2008 to 62% of the economy by the end of 2010. Yikes! Jun 30, 2010 The federal debt will represent 62% of the nation’s economy by the end of this year, the highest percentage since just after World War II, according to a long-term budget […]
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thestatedtruth.com | June 28, 2010
This spells big big trouble for the world, it effects everyone every where……………..The ECRI leading indicator produced by the Economic Cycle Research Institute plummeted yet again last week to -6.9, pointing to contraction in the US by the end of the year. It is dropping faster that at any time in the post-War era.  Andrew […]
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thestatedtruth.com | June 28, 2010
       Gene Inger’s Daily Briefing . . . for Tuesday June 29, 2010  At presstime:     We just learned that the USS Nassau (I have personally been on that ship just as a curiosity to note, with an officer friend of mine who flew a helicopter off LHA-4 at the time) Amphibious Assault Ship carrying 4000 Marines has […]
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thestatedtruth.com | June 28, 2010
By Barry Ritholtz By using traditional metrics: Whether we are looking at U.S. housing stock as a percentage of GDP or Median income versus home prices or even ownership versus renting costs, prices remain elevated. Indeed, we see prices remain above historic means. Consider price relative to income. From 1977 to 2010, the median U.S. […]
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thestatedtruth.com | June 22, 2010
June 22, 2010  By Andrew Atkinson June 22 (Bloomberg) — British Chancellor of the Exchequer George Osborne increased the value-added tax rate to 20 percent from 17.5 percent in the first permanent change to the levy on sales of goods and services in almost two decades. “The years of debt and spending make this unavoidable,†[…]
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thestatedtruth.com | June 18, 2010
From President Obama: Letter from the President to G-20 Leaders Our highest priority in Toronto must be to safeguard and strengthen the recovery. We worked exceptionally hard to restore growth; we cannot let it falter or lose strength now. This means that we should reaffirm our unity of purpose to provide the policy support necessary […]
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thestatedtruth.com | June 17, 2010
Watching for Watchers June 17, 2010 By Scott Stewart In last week’s Security Weekly we discussed how situational awareness is a mindset that can — and should — be practiced by everyone. We also described the different levels of situational awareness and discussed which level is appropriate for different sorts of situations. And we noted […]
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thestatedtruth.com | June 17, 2010
   The Dow Jones Industrial Average added five points yesterday to close at 10,409 – almost exactly where it closed eleven years ago. Amidst giddy fanfare and high fives, the Dow closed above 10,000 for the very first time on March 29, 1999. One month later, amidst even giddier fanfare and high fives, […]
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thestatedtruth.com | June 16, 2010
Bloomberg — Matthew Simmons, founder of the Ocean Energy Institute, talks with Bloomberg’s Lori Rothman about BP Plc’s oil leak in the Gulf of Mexico and his view that the use of a “small-bore nuclear device” is now the “only option” to stop the flow of oil. Listen to this news interview……unbelievable.  Click below: http://video.godlikeproductions.com/video/Simmons_Says_Nuclear_Device_Only_Option_to_Stop_Oil_Flow
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thestatedtruth.com | June 16, 2010
From Jeff Rense.com ……………… The magnitude and impact of this disaster will eclipse anything we have known in our life times if the worst or even near worst happens… Contrary to what most of us would think as logical to stop the oil mess, actually opening up the gushing well and making it gush more […]
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thestatedtruth.com | June 16, 2010
So,  how far behind is the U.S. …………Europe faces almost inevitable recession next year and years of stagnation as policymakers’ response to the euro zone crisis causes a downward spiral, billionaire U.S. investor George Soros said on Tuesday and “The commercial paper market, for instance, in America is now refusing to lend to European banks […]
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thestatedtruth.com | June 15, 2010
Among those who have loans that aren’t backed by any federal agency, the re-default rate within 12 months is likely to be 65% to 75% under the Obama administration’s Home Affordable Modification Program, according to a report from Fitch Ratings.
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thestatedtruth.com | June 15, 2010
Mexico on Tuesday put a limit of 4,000 US dollars per month on bank deposits by individuals, a move meant to thwart drug traffickers who use the US currency to stash away their illicit profits. Officials also imposed a limit of 7,000 US dollars for deposits by Mexican businesses making deposits in greenbacks. Meanwhile foreigners […]
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thestatedtruth.com | June 15, 2010
China’s holdings of US debt climbed to the highest level this year, the U.S. Treasury said Tuesday even as Beijing stepped up attacks on the United States for its burgeoning debt. The cash-rich Chinese government raised its US Treasury bond holdings to 900.2 billion dollars in April, its highest level since November 2009, while posting […]
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thestatedtruth.com | June 14, 2010
 Woha……..This is heavy reading on the Gulf of Mexico oil blowout if TRUE! The disaster has a real potential cost of at least $1,000 billion ($1 trillion). According to the Washington report of Madsen, BP statements that one of the leaks has been contained, are pure public relations disinformation designed to avoid panic and demands […]
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thestatedtruth.com | June 14, 2010
Rick’s Picks Monday, June 14, 2010 “Phenomenally accurate forecasts†We’ve railed at traders and speculators recently for their arrogant and sometimes breathtaking stupidity in failing to discount an onslaught of world-shattering news. If the dolts, rubes, bozos and mountebanks who have kept stocks afloat even remotely understood what has been going on in this world, we wrote here recently, […]
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thestatedtruth.com | June 14, 2010
 By Lorraine Woellert and John Gittelsohn June 14 (Bloomberg) — The cost of fixing Fannie Mae and Freddie Mac, the mortgage companies that last year bought or guaranteed three-quarters of all U.S. home loans, will be at least $160 billion and could grow to as much as $1 trillion after the biggest bailout in […]
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thestatedtruth.com | June 13, 2010
The cat is clearly out of the bag concerning the forthcoming bankruptcy of 33 states of the USA. Â This moronic New York non-solution to borrow from state pension funds, which now cannot meet their pension requirements, screams bankruptcy. The Administration calling for $50 billion for states and cities would appear to be confirmation of […]
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thestatedtruth.com | June 13, 2010
The State and local governments are broke. This will amount to an endless amount of state aid. It will end when, not if…..foreigners flee our bonds and then interest rates explode because of it! Obama Pushes for $50 Billion in State Aid by CalculatedRisk on 6/13/2010 From Jackie Calmes and Sheryl Gay Stolberg at the NY Times: Obama […]
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thestatedtruth.com | June 11, 2010
The Japanese PM is alluding to confidence; Confidence in the currency that denominates their debt. Since gold is rising in all global currencies, it suggests that confidence in those managing the existing fiat system is beginning to fray. Once confidence reaches critical mass, there is no stopping the deterioration. Japan could face a financial mess […]
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thestatedtruth.com | June 10, 2010
Arizona Sells Supreme Court Building in $300 Million Bond Deal          By Allison Bennett and Brendan A. McGrail June 8 (Bloomberg) — Arizona, which sold state prisons and offices to raise cash six months ago, plans to borrow $300 million by marketing its Supreme Court building and about a dozen more properties through leaseback bonds […]
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thestatedtruth.com | June 8, 2010
 From Art Cashin on the floor of The New York Stock Exchange today! Fedspeak – Chairman Bernanke gave a speech last night. It wasn’t exactly a barn burner but he did suggest that while the recovery will be slow and joyless, it will not produce a double dip.  Janet Yellen, in her Monday speech did […]
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thestatedtruth.com | June 7, 2010
By Tyler Durden on 06/07/2010 Â April consumer credit came in slightly above expectations, at $2,423 billion in April, compared to $2,421.8 billion in March. The March number was interesting as it was revised notably lower from +$2 billion to -$5.4 billion, a revision the likes of which we can probably expect for April once […]
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thestatedtruth.com | June 7, 2010
More of the same old thing……..U.S.’s $13 Trillion Debt Poised to Overtake GDP…President Barack Obama is poised to increase the U.S. debt to a level that exceeds the value of the nation’s annual economic output, a step toward what Bill Gross called a debt super cycle. Bill Gross manages the worlds largest bond fund and […]
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thestatedtruth.com | June 7, 2010
This is what we have to look forward to……………….John Williams of www.shadowstats.com, speaks.                                             ~~~~~~~~~~~~~~~~~    – 5.9% M3 Annual Decline Deepest Since Early-1930s Banking Crisis  – Post-World War II Record Drop in Inflation-Adjusted M3 Signals  Intensifying Business Contraction – Renewed Recession Will Set Stage for U.S. Solvency Crisis and Severe Inflation Threat
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thestatedtruth.com | June 6, 2010
By Simon Kennedy and Mark Deen June 7 (Bloomberg) — Global policy makers are starting to clash over their individual prescriptions for recovery as Europe demands lower budget deficits while the U.S. warns against pushing exports instead of domestic demand. At a meeting of Group of 20 finance chiefs in Busan, South Korea, June 4-5, […]
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thestatedtruth.com | June 2, 2010
By Andrew Frye and William Selway June 2 (Bloomberg) — Warren Buffett, whose Berkshire Hathaway Inc. has been trimming its investment in municipal debt, predicted a “terrible problem†for the bonds in coming years. “There will be a terrible problem and then the question becomes will the federal government help,†Buffett, 79, said today at […]
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