thestatedtruth.com | September 14, 2010
Nearly half of all Americans live in a household in which someone receives government benefits.  This is more than at any time in history. Making matters even worse, the number of American households not paying federal income taxes has also grown—to an estimated 45% in 2010, from 39% five years ago, this according to the Tax Policy Center.  […]
thestatedtruth.com | September 10, 2010
Interesting fact…..stock market REIT ‘s (Real Estate Investment Trusts) are trading at near record highs. Of the $3.1 billion new delinquencies in August, $1.1 billion (36%) corresponded to hotel-backed loans, pushing the hotel-specific delinquency rate past 20%. Current delinquency rates by property type are as follows: –Hotel: 20.80% (from 18.64%) –Multifamily: 14.18% (from 13.87%) –Retail: […]
thestatedtruth.com | September 9, 2010
Shifting Demographics A factor affecting demand is shifting demographics. The Baby Boomer generation is no longer the consumption engine it has been to the US economy.  We have a generation that, as has been predicted for some time, is reducing its expenses but it may be even more dramatic than forecasted. With home housing […]
thestatedtruth.com | September 8, 2010
Here is the key to this….In tracking mutual fund redemptions, net cash liquidity is now down to just 3.5% of assets. This is very negative data for the stock market. Domestic equity mutual funds saw $7.5 billion in outflows, it’s the biggest one week outflow since the $13.4 billion redeemed in the week of the Flash Crash. It’s […]
thestatedtruth.com | September 7, 2010
So…….What’s going to happen here in the good old USA when, not if our congress gets around to this. Hint….. judging from the french reaction,  it won’t be pretty!  If you would like to know more about the demographic problem, just go to Categories on the left and click on Pensions and Retirement. There is plenty to read about on the […]
thestatedtruth.com | September 6, 2010
Have you ever wondered about which countries have the biggest gold reserves or are the largest producers of gold? Gold Atomic Number: 79 Symbol: Au Atomic Weight: 196.9665 Discovery: Known since prehistoric time Word Origin: Sanskrit Jval; Anglo-Saxon gold; meaning gold – also Latin aurum, shining dawn  Carats and carobs The word ‘carat’ (the measurement for gold purity) comes […]
thestatedtruth.com | September 5, 2010
So even though we have nearly 8,000 banks, the bulk of the assets sit with a small number of banks and the Deposit Insurance Fund (DIF), the fund that backs the assets of the banks is actually in the red for $15 billion: www.mybudget360.com
thestatedtruth.com | September 4, 2010
Without tax incentives, this may all be for not……..John Mauldin explains the simple facts of job growth…..Want to increase productivity and jobs? The best way it seems, is to encourage private business, and especially startups. “So we can’t count on the Intels or Microsofts to create employment: we need the entrepreneurs.”  Delta Force There are […]
thestatedtruth.com | September 4, 2010
A must listen to interview with Jim Rickards about our economy and more.  We all need to be aware of the direction of things to come.   This interview from Jim Rickards will help in understanding these things better.  Click on the following link or paste into your browser:   http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/9/4_Jim_Rickards.html  Biography of James G. Rickards…..James G. Rickards is […]
thestatedtruth.com | September 3, 2010
Very interesting,  but also a worst nightmare for tax payers……….Under Pennsylvania law, Ambac Assurance (which insures some of Harrisburg’s debt) can take Harrisburg to court to seek an order to raise property taxes to pay debt. This is the nature of “full faith and credit†of general-obligation bonds. So the tax payers are stuck for the […]
thestatedtruth.com | September 3, 2010
Bond Vs. Stocks…..Pension Allocations. Looks like bonds are priced to perfection here, so if re allocations take place in the next year like this report says, then the results may not be pretty. If interest rates have any kind of a kick to the upside a broad under performance could be setting up for retirement accounts. Hmmm, isn’t […]
thestatedtruth.com | September 2, 2010
Key message here is….. for liquidity ratios, equity fund portfolio managers are at an all-time record low of 3.4%, down from 3.8% in June. Tack on the fact that there are less shorts to be covered – being that the market peaked in April, and short interest is now 4.3% of the S&P 500 market cap (in August 2008 it […]
thestatedtruth.com | September 1, 2010
A wise and frugal government, which shall leave men free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned – this is the sum of good government. – Thomas Jefferson, Writings, 1743-1826 Â I predict future happiness for Americans if they […]
thestatedtruth.com | September 1, 2010
This looks like the worst sales performance since the early 1980’s………If autos looked this bad then one would asume that housing should fare no better as consumers still have too much debt…..Here is a quote from Toyota, “We are bracing ourselves for the coming crisis.”.   Toyota Motor Corp., General Motors Co. and Ford Motor Co., […]
thestatedtruth.com | September 1, 2010
Front Running the Fed September 1, 2010 “… the public is no longer investing in stocks, but rather in bonds. So far this year through July, bond mutual funds have attracted $224.4bn in net inflows including reinvested dividends.  Equity funds have attracted only $17.2bn ytd, with $32.2bn going into International funds while $15.0bn flowed out […]
thestatedtruth.com | August 30, 2010
According to the Investment Company Institute (ICI), bond mutual funds have attracted more money than equity mutual funds for 30 consecutive months through June, the longest stretch in more than 23 years.
thestatedtruth.com | August 30, 2010
Another fraudulent entity, this time it’s a state……The state of New Jersey’s most recent report said that as of June 2009, its pension funds should have assets of $112 billion to meet their future obligations, but have only $66 billion now — This is one of the largest shortfalls of its kind, and is known as an unfunded liability!  The state […]
thestatedtruth.com | August 29, 2010
Last week, the Liscio Report posted an interesting comment on their blog, Where we are?: Here’s an updated guide to “where we areâ€â€”how the U.S. economy is faring relative to the average of previous financial crises around the world. Though individual details vary, we’re following the script pretty well. In the graphs of four major […]
thestatedtruth.com | August 29, 2010
Yep, this is a true fact….Lawmakers have changed the tax code more than 15,000 times since the last major overhaul in 1986. Unbelievable! The current income tax forms (other than the 1040 short form) are so complicated that the average educated person still needs a tax preparer to do their taxes. This new report from Paul Volcker proposes a […]
thestatedtruth.com | August 29, 2010
By Todd Harrison of Minyanville Seeking Solutions In An Uncertain World We used to play for silver, now we play for life; ones for sport and one’s for blood at the point of a knife. –Grateful Dead We live in interesting times. During the last two years, a financial virus spawned and infected the economic […]
thestatedtruth.com | August 28, 2010
This continues to be a hot subject and the problems continue to get worse. Question: Why should communities have to support bloted state and government pension and benefit plans that are guaranteed no matter what the loses are, and totaly out of control while the rest of the country in the private sector has to live with less because of loses to IRA’s and […]
thestatedtruth.com | August 27, 2010
Here is a summary of parts of a Wall Street Journal article by California Governor Arnold Schwartzenegger on government pensions and employee benefit compensation. Roughly 80 cents of every government dollar in California goes to employee compensation and benefits. Spending on California’s state employees over the past decade rose at nearly three times the rate our […]
thestatedtruth.com | August 27, 2010
By Brian Pretti on Fri, 27 Aug 2010Â Â Â The most important information in the Treasury International Capital flow stats concerns equities. Have a look at the chart below. To the point, the top clip of the chart is the twelve month moving average of foreign purchases of US equities. Clearly there is cyclical rhythm here. […]
thestatedtruth.com | August 26, 2010
The Canary in the coal mine.    Sounds like a bad situation is setting itself up here…… We went over some of this just a few days ago……It’s an unfolding disaster…. Illinois Teachers’ Retirement System, Springfield, plans to sell $3 billion in investments, or about 10% of its $33.1 billion in assets in the current fiscal year […]
thestatedtruth.com | August 25, 2010
The big players always knew that real estate loans were non-recourse loans. They walk-away voluntarily.  Remember  the commercial market is more professional than housing. As  more of the big boys bite the dust,  the huge bounce will  crest, and down she comes. Pension funds, insurance companies, small banks, retirement accounts etc. get hammered. Commercial Property Owners Choose to Default By […]
thestatedtruth.com | August 24, 2010
Pension funds everywhere had better pay attention to what’s going on with the Illinois Teachers Retirement System. It’s a wake up call……Hello, anybody there! When the financial crisis erupted, it first hit banks, insurance companies, hedge funds, real estate/ private equity funds, asset managers, and then hit pension funds. But pensions remain very vulnerable because […]
thestatedtruth.com | August 23, 2010
Bill Gross reviewed demographics in his PIMCO August Investment Outlook, and he showed a graph, “Deep Demographic Doo-Doo”…..Now we can read David Rosenberg’s take on the matter. Today David Rosenberg begins to tackle the U.S. demographic issues from his own perspective, with his preliminary conclusions, not validating any current optimistic perspectives in the U.S. economy: “starting next […]
thestatedtruth.com | August 23, 2010
One more reason that the average person on main street has no chance, and that’s official! Interest rates continue to drop for the U.S. Treasury, large companies and home buyers, but for most of the 381 million U.S. credit-card accounts borrowing rates have been flying to the upside at an alarming pace. Amoung the reasons: […]
thestatedtruth.com | August 22, 2010
The Phillie Fed report was just awful. Buried in the details was the fact that the hours-worked index is collapsing, consistent with previews to past recessions. Very worrisome. (From my favorite slicer and dicer of data, Greg Weldon: www.weldononline.com) Bottom line? It is going to be a tough environment for the next 6-8 years. That […]
thestatedtruth.com | August 20, 2010
We’re sure that everyone has the best intentions to pay these hardship loans back, but……. A new study by Fidelity says record number of workers tapped their retirement funds and made hardship withdrawals from their accounts in the second quarter. According to the Fidelity study, “Among the 11 million workers whose 401(k) plans are run by Fidelity, […]
thestatedtruth.com | August 18, 2010
thestatedtruth.com | August 18, 2010
thestatedtruth.com | August 17, 2010
From Zerohedge.com    08/17/2010 The one must watch interview of the week (if not of the year) features Hayman Capital’s Kyle Bass. Bass, who correctly called the subprime implosion (and profited handsomely from it) as a iconoclast contrarian to conventional wisdom, tells David Faber that “given my outlook on the world, I don’t know how I […]
thestatedtruth.com | August 16, 2010
Debt unwind means deflation! The U.S. is facing a “painful period†in the next five years as homeowners and governments unwind debt built up during the housing boom, Berkshire Hathaway Inc.’s David Sokol said today. “All of that just feeds into a slow-growth environment,â€â€œIt’s going to be a painful periodâ€Â “People have been shocked into […]
thestatedtruth.com | August 15, 2010
Even after looking at the market’s rebound from the lows of 2009, nest eggs remain severely impaired. As of the first quarter of 2010, net household assets—homes, 401(k) plans, pension assets and other investments minus debts—stood at $54.6 trillion, down an average of 18% from the end of 2007.  We actually think the losses are higher but we’ll […]
thestatedtruth.com | August 15, 2010
A major class struggle lies dead ahead!  The gap between the super-rich, the wealthy and “the rest of us” has widened, forming what is in essence two Americas. Economists Emmanuel Saez and Thomas Piketty have reported that the top 10% of earners took home about half of all income. According to Moody’s Analytics research, the top 5% […]
thestatedtruth.com | August 14, 2010
This couldn’t be a worse investment for the average person, they call them Junk Bonds for a reason. Take a guess why! It will end in a very bad way. U.S. companies issued risky “junk” bonds at a record clip this week, taking advantage of keen investor (idiots) appetite for returns (fools gold) amid declining interest rates and […]
thestatedtruth.com | August 13, 2010
Rosenberg Starts Off In Style: Â “If you don’t believe there’s going to be a double dip, it’s because the first recession never ended. If there is going to be a double dip, the odds are certainly higher than 50-50.”
thestatedtruth.com | August 12, 2010
14’th Sequential Week Of Equity Outflows We have now had over one quarter of non-stop redemptions by mutual funds, which means, by end-retail investors. The problem is that now everyone is starting to notice that the market is not supported by anything except momentum manipulation and primary dealer machinations. Per ICI, the week ended August […]
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