thestatedtruth.com | September 30, 2011
The top one half of 1 percent of the population now owns over 28 percent of the nation’s total wealth. Are they kidding? And the Republicans don’t want to raise taxes on the rich…..They should be ashamed of themselves, but they’re not. This from RobertReich.org The President’s modest proposals to raise taxes on the rich – […]
thestatedtruth.com | September 29, 2011
Hmm…Did you know that U.S. military spending equals that of all other military spending combined in the world.
thestatedtruth.com | September 29, 2011
Pending home sales fell 1.2 percent in August after dropping 1.3 percent the previous month, the National Association of Realtors said. Homeowner sentiment also dropped to the lowest ever, falling to minus 49.5 from minus 47.1. Earlier this week, the S&P/Case-Shiller index of property values in 20 cities fell 4.1 percent in July from the […]
thestatedtruth.com | September 29, 2011
Are we heading for a depression or do we just feel depressed…..Ugh, we’ll let you know in a few months! Consumer confidence slumped last week to the second-lowest level on record as Americans grew more concerned with their financial situation while the buying climate for most things worsened. The Bloomberg Consumer Comfort Index dropped to minus 53 in […]
thestatedtruth.com | September 29, 2011
Soo…The next thing coming is to re-modify the re-modified loans….that should kick the can down the road for another year or so. That way the bankers can collect on this years bonus money. One in five homeowners whose mortgages were modified under a program aimed at reducing foreclosures defaulted again within a year after their […]
thestatedtruth.com | September 26, 2011
“Problem is, too many in Washington have less than half a brain.” Robert Reich Monday, September 26, 2011 Seems like only yesterday conservative nabobs of negativity predicted America’s ballooning budget deficit would generate soaring inflation and crippling costs of additional federal borrowing. Remember Standard & Poor’s downgrade of the United States? Recall the intense worry […]
thestatedtruth.com | September 26, 2011
Hmm….Gasoline deliveries fell to a 10-year low but prices haven’t…while year-to-date product consumption (including heating oil and diesel) averaged 19.1 million a day, down only 0.3% from a year ago. Bloomberg reported from API (American Petroleum Institute) that distillate fuel deliveries, which include diesel and heating oil, hit record highs, rising 11% year-over-year to 4.15 million […]
thestatedtruth.com | September 26, 2011
Concerning the stock markets, a proven technique has been when in doubt, run for the hills….. From The Wall Street Journal: In a historic retreat, investors world-wide during the three months through August pulled some $92 billion out of stock funds in the developed markets, according to data provider EPFR Global—an exodus that more than […]
thestatedtruth.com | September 25, 2011
And so it goes…Former U.S. Treasury Secretary Lawrence Summers “I’ve been to 20 years of IMF meetings, and there’s not been a prior meeting at which matters have had more gravity and at which I’ve been more concerned about the future of the global economy.” Billionaire investor George Soros said “something needs to be done” […]
thestatedtruth.com | September 22, 2011
A five-metric-ton dead research satellite will crash into Earth tomorrow, the largest such object to make an uncontrolled landing since 1979, NASA said. The National Aeronautics and Space Administration said the satellite, which has a 1-in-3,200 chance of injuring or killing a person on landing, won’t hit North America. It said it was too early […]
thestatedtruth.com | September 22, 2011
The world is on the eve of the next financial crisis, with sovereign debt its epicenter, according to Mohamed El-Erian, chief executive officer of Pacific Investment Management Co., manager of the worlds biggest bond fund. El-Erian ranks as one of the smartest financial guys in the bussiness universe.
thestatedtruth.com | September 20, 2011
California capitulates, says growth is dead for the time being….but economists have been slow learners about understanding the negative dynamics for California. Senior economist David Shulman argues basically that the economy is so far down, it can’t really fall that much more. But to assume such a (stupid) thing in the current environment makes no sense! From the […]
thestatedtruth.com | September 18, 2011
We’ve gone over this before, but it looks like the idea is catching on….Grey bearded baby boomers are in trouble…..but many don’t even know it! Deutsche Bank, in a new report expects stock market investors to lose about 10% of their money — in real terms — over the next 10 years, while the economy goes […]
thestatedtruth.com | September 17, 2011
So far the record low interest rates have only kicked the can down the road by allowing desperate debt to prolong its misery. History will likely show this to be a catastrophic economic mistake. In the process, we have destroyed the retirement class by forcing them into higher risk assets.
thestatedtruth.com | September 16, 2011
Yep, here is the way it went down… U.S. Treasury Secretary Timothy Geithner goes to Europe, and gives a lesson on the benefits of borrowing more money to jump start European economies and save the Euro, then speaks of ‘catastrophic risk’, but Austrian Finance Minister Maria Fekter found it “peculiar” to be lectured by the U.S., a country with higher aggregate debt than […]
thestatedtruth.com | September 16, 2011
But these figures speak for themselves….we continue to expect negative numbers over the next few years, actually into 2014. Net worth for households and non-profit groups decreased by $149 billion, a 1 percent drop at an annual pace, to $58.5 trillion, the Federal Reserve said today in its flow of funds report from Washington. It rose at a 7.4 […]
thestatedtruth.com | September 16, 2011
So why is it so hard to convince people in high places about this? Well, because those who sit on top, often can’t see through the clouds. Governments are first to come to mind. From The Wall Street Journal: The income of the typical American family — long the envy of much of the world — […]
thestatedtruth.com | September 15, 2011
The rich have it all…..the new Ferrari family car is $356,000 and is sold out, that gets you just one car! Yep, you read that right. Ultra-luxury remains totally recession-proof. The gap between rich and poor have never been greater. Maserati aims to boost deliveries by almost eightfold to 45,000 cars in 2014 as it increases dealers by 150 percent worldwide. Lamborghini […]
thestatedtruth.com | September 15, 2011
This is the government in action! The consumer-price index increased 0.4 percent in August, and jobless claims climbed by 11,000 to 428,000 in the week ended Sept. 10, both negatively exceeded forcasts according to Labor Department figures posted today in Washington. Unemployment is stuck around 9 percent.
thestatedtruth.com | September 15, 2011
The average rate for a 30-year fixed loan dropped to 4.09 percent in the week ended today from 4.12 percent, Freddie Mac said in a statement. That’s the lowest in the company’s records dating back to 1971. The average 15-year rate fell to 3.30 percent from 3.33 percent.
thestatedtruth.com | September 14, 2011
Interesting to say the least! The National Security Agency (NSA) has opened a massive $2 billion, 1 million-square-foot complex in the Utah desert…devoted to storing and sorting through emails, web searches and business transactions. This system is capable of monitoring 10 million people simultaneously this year and will be able to monitor 100 million next year! You’re […]
thestatedtruth.com | September 13, 2011
This kind of sums things up, the government said we had slow growth, odd then how median household income in 2010 dropped $1,154 from $50,599 to $49,445! Hmm, they call that growth? From Bloomberg: Data released by the Census Bureau today showed the proportion of people living in poverty climbed to 15.1 percent last year from […]
thestatedtruth.com | September 12, 2011
Bad seats…hey buddy! Epecially if you’re a baby boomer! We all need to plan well after reading this. From (CNSNews.com) …. There were only 1.75 full-time private-sector workers in the United States last year for each person receiving benefits from Social Security, according to data from the Bureau of Labor Statistics and the Social Security […]
thestatedtruth.com | September 11, 2011
This is what we discussed on August 30 here at www.thestatedtruth.com : Da boys in the White House are working on a new giveaway to be presented after the Labor Day weekend. The word is, that it will highlight how to give real estate losers something for nothing (free monopoly money or casino chips) in an effort to turn around […]
thestatedtruth.com | September 8, 2011
But wait until you see why? Non-revolving debt, mostly comprised of educational loans along with loans for autos and mobile homes, rose by $15.4 billion in July, while revolving debt, which includes credit cards, fell by $3.4 billion. The rise in non-revolving loans was the most since November 2001. We’re going to totally bury (by educational loans) the future pole bearers of our […]
thestatedtruth.com | September 8, 2011
The U.S. Fed doesn’t get it, stimulus won’t work, they’re addressing the wrong things here….we have “structural issues and they require structural solutions.” Ei-Erian Pacific Investment Management Co.’s Mohamed El-Erian said the U.S. faces “serious” economic challenges, including lagging housing and labor markets, that will prove resistant to Federal Reserve stimulus efforts. “You simply can’t […]
thestatedtruth.com | September 6, 2011
Food for thought! China slows, bad for commodities. China grows, good for commodities. Makes sense, right? In case you missed it, China’s manufacturing activity fell for the third straight month in June. The official purchasing managers index stood at 50.9, down from 52 in May. Any number over 50 means expansion and below that means […]
thestatedtruth.com | September 6, 2011
So…overall household debt to disposable income has declined minesquely from a peak of 134% in 2007 to 125% currently. That doesn’t exactly set the house on fire as most assets have declined at a faster rate, especially for entities that have not experienced stable or growing revenues (main street America comes to mind). If Dick Stoken is […]
thestatedtruth.com | September 5, 2011
The U.S. Post Office has created many of it’s own competitive disadvantages , but UPS and FedEx are operating with some of the same problems. The law also prevents the post office from raising postage fees faster than inflation, but the government says we have no inflation….so that should be a moot point! Or maybe not. And….The agency […]
thestatedtruth.com | September 2, 2011
The positive side of this…..should put more monthly income into the economic system. But…lenders’ capacity to handle loan applications could be an obstacle for the Obama administration, which is weighing options for spurring a housing recovery, including steps to promote refinancing for underwater borrowers, or those who owe more than their property is worth. Almost […]
thestatedtruth.com | September 2, 2011
The U.S. economy added no new jobs for the first time in almost a year, while the unemployment rate was stuck at 9.1%. Economic Failure……Presidential failure….Congressonal failure….Voter failure…. Bank Regulation failure, Healthcare failure…Fair Taxation failure…War failure…Currency failure, etc., etc. …..has caused this disaster that we currently have. Take your pick of the above.
thestatedtruth.com | September 1, 2011
Will the arrogant banks finally get their comeuppance…..we’ll see? Chris Whalen, speaking on King World News (www.kingworldnews) and known as one of the top U.S. bank analysts, says Bank of America Corp (BAC) will probably have to restructure (go bankrupt) sooner rather then later, wiping out shareholders and giving bond holders a haircut. Whalen said the new Bank of America […]
thestatedtruth.com | September 1, 2011
We’ve already heard that the Pentagon warned the White House about September being a dangerous period between Israel and Iran…Now we hear from France. It’s probably another reason why Gold is acting so good against what is normally a negative summer seasonality. France’s President Nicolas Sarkozy warned on Wednesday that Iran’s alleged attempts to build long-range missiles and nuclear […]
thestatedtruth.com | August 31, 2011
$1 Trillion in capital needed in Europe for banks…Geez Gold anyone? From the WSJ: “Here we go again,” says the Goldman report, amid a number of charts displaying negative statistics similar to those that portended problems before the 2008 financial panic. “Solving a debt problem with more debt has not solved the underlying problem. In the […]
thestatedtruth.com | August 31, 2011
A record 45.8 million people are now relying on the government’s food stamp program, up 12% from a year ago and up an astonishing 34% in only the last two years.
thestatedtruth.com | August 31, 2011
Historically it’s very negative for the stock market when cash levels are low. It means that everybody that wants in the market , is in, and the money has been spent. It’s doubly bad when cash levels are at record lows! Mutual funds just saw Liquid Assets drop to a new all time record low of 3.3% (down from 3.4%). […]
thestatedtruth.com | August 31, 2011
We’re in an economy where demand is falling. Gasoline use in the U.S. has dropped to an 8-year low. Households are saving money (or trying). Incomes are going down while the real economy is shrinking. We live in challenging times to say the least!
thestatedtruth.com | August 31, 2011
Amoung areas of interest for investing in this demographic tidal wave …..We would expect to see strong growth in all areas of health-care spending, that’s a no brainer. Women and baby boomers entering the American workforce after 1950 helped to supercharge expansions in 1975 and 1983 by filling an increasing number of jobs and purchasing more goods and […]
thestatedtruth.com | August 31, 2011
The Fed is caught by its tail in a mouse trap. Charles Evans, president of the Chicago Federal Reserve Bank told CNBC television the labor market, with its 9.1 percent jobless rate, looks to be in a recession. (Reuters) – The central bank in early August discussed a range of unusual tools it could use to help […]
thestatedtruth.com | August 30, 2011
Bill Gross says everyone needs to get real…”We are into the “bumpy journey” phase of our New Normal where fear, lack of policy options and loss of control can dominate.” From PIMCO: New-Fangled Love Songs Liquidity concerns may affect all European peripheral bond markets unless the European Central Bank counters the rush for the exits with […]
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