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 7, 2011
Geez, didn’t the government say things were getting better in the economy…..Well yes, if you are a “have”, but the “have nots” don’t seem to be seeing any improvement at all. Â
thestatedtruth.com | January 6, 2011
CNBC interviews PIMCO’s Bill Gross……….Bill says that U.S. incomes will lag both commodity prices and Gold as U.S. debt rises about a trillion dollars every 12 months and debt to GDP rises above the 90-95% level in the next few years.
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
I never new….as the old saying goes! From The Guardian: The abundance of four common species of bumblebee in the U.S. has dropped by 96% in just the past few decades, according to the most comprehensive national census of the insects [a three-year study published in the Proceedings of the National Academy of Sciences]. *** […]
thestatedtruth.com | January 5, 2011
We have noticed the same kind of thing recently with a variety of products from yogurt to crackers and potato chips…..It’s the old candy bar trick all over again. Two months ago Zero Hedge first touched upon the topic of relative “value deflation” whereby prices for products are kept constant, even as the actual product provided […]
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
House Republican leaders said Tuesday that highway and mass-transit programs should no longer be shielded from budget cuts! It immediately drew fire from the states, and the U.S. Chamber of Commerce. Republican House Speaker John Boehner and his leadership team will start work Wednesday to make good on promises to cut $100 billion or more from annual federal […]
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 3, 2011
Sounds like maybe The IRS needs some new computers, those Sperry Univac’s have to be getting kind of old…..Hmm, just kidding sort of! NEW YORK (CNNMoney) — Itemize your tax deductions? Itching for a refund? You’re going to have to wait. The IRS said that it needs until mid- to late-February to reprogram its processing […]
thestatedtruth.com | January 2, 2011
The United States and its leaders are stuck in what is called a predicament. They need the economy to improve in order to generate jobs, but the economy can only improve if people have jobs…. They need the economy to recover in order to improve our deficit situation, but if the economy really recovers long term […]
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 | January 1, 2011
TrimTabs’ Charles Biderman reviews fund flows below….says this will end badly once QE2 ends unless we have endless quantitative easing  forever! Hmm, endless QE, now there’s an idea that only the government could conceive of! Equity fund flows were mixed. Global equity funds posted a respectable inflow of $87 billion in 2010, up modestly from $62 billion in […]
thestatedtruth.com | January 1, 2011
The question is, if consumption drops 5%, where is the growth going to come from? Doesn’t that mean that somebody else needs to raise consumption? Well, yes…..Whom might that be, inquiring minds want to know! Maybe the usual suspects, China, India, Brazil etc….then again will that make up for the U.S. and Europe drop because of austerity measures….um, […]
thestatedtruth.com | December 31, 2010
Legislative leaders in at least half a dozen states say they will propose bills similar to a controversial law to fight illegal immigration that was adopted by Arizona last spring, even though a federal court has suspended central provisions of that statute. Some of the measures may not go into effect immediately, including Arizona-style bills […]
thestatedtruth.com | December 31, 2010
Flood waters swept through vast areas of northeastern Australia Saturday, threatening to inundate thousands more homes in a disaster one official said was of “biblical proportions”. As Queen Elizabeth II sent her “sincere sympathies” to Queenslanders who rang in a damp new year, the military was assisting deliver food and other supplies to isolated towns […]
thestatedtruth.com | December 30, 2010
WASHINGTON (MarketWatch) — The number of U.S. workers filing new applications for jobless benefits fell below the key 400,000 level in the most recent weekly data, released Thursday, in a signal that the labor market is continuing to mend.  “Initial claims can be very volatile around year-end due to seasonal adjustment difficulties related to the […]
thestatedtruth.com | December 29, 2010
The coming year will be an important one for space weather as the Sun pulls out of a trough of low activity and heads into a long-awaited and possibly destructive period of turbulence. We have discussed this before as Art Cashin talked about it often this year. The Sun, rather than burn with faultless consistency, […]
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 29, 2010
Italy’s borrowing costs have surged back to financial crisis levels and the country is now looking like a proper member of the eurozone’s fringe, according to Ambrose Evans-Pritchard. Â The yield on Italy’s 10-year bond is now at 4.86% and, combined with weakening monetary supply data, Italy now looks destined for a downturn similar to […]
thestatedtruth.com | December 28, 2010
Gene Inger’s Daily Briefing . . . for Wednesday December 29, 2010:  Good evening;  The ‘Insolvent Age’ . . .well-describes the overall risk faced in 2011, which if viewed with full transparency, has risk of making a so-called ‘new normal’ seem comfortable. There are warning flags galore flying; and the irony is it […]
thestatedtruth.com | December 28, 2010
So, just wondering why this is such a surprise to the media types……Incomes are down (based on taxes paid) according to Trim Tabs, and home ownership maintenance expenses are rising across the board, including real estate taxes. The baby boomers are net sellers, not buyers. The middle class is being squeezed. The demographic economic model is to downsize […]
thestatedtruth.com | December 28, 2010
Economic Models And Business Strategies Explained With Cows  COMMUNISM: You have 2 cows. The State takes both and gives you some milk. FASCISM: You have 2 cows. The State takes both and sells you some milk. SOCIALISM: You have 2 cows. The State takes one of them and gives it to your work-shy neighbor. […]
thestatedtruth.com | December 28, 2010
MasterCard Spending Pulse Data showed average gasoline price for regular at 3.00/gallon. Gasoline spending rose 4.6% for the week and was 3.9% higher then one year ago same week.Â
thestatedtruth.com | December 28, 2010
Wow…The 111’th Congress sure packed a wicked punch. But we all know the old saying “records are made to be broken”…..Just wonder how long it will take to brake this one! (CNSNews.com) – The federal government has accumulated more new debt–$3.22 trillion ($3,220,103,625,307.29)—during the tenure of the 111th Congress than it did during the first […]
thestatedtruth.com | December 28, 2010
Hmm…… So many Americans have been jobless for so long that the government is changing how it records long-term unemployment.Citing what it calls “an unprecedented rise” in long-term unemployment, the federal Bureau of Labor Statistics (BLS), beginning Saturday, will raise from two years to five years the upper limit on how long someone can be […]
thestatedtruth.com | December 27, 2010
Doug Kass: Eight years ago, I set out and prepared a list of possible surprises for the coming year, taking a page out of the estimable Byron Wien’s playbook , who originally delivered his list while chief investment strategist at Morgan Stanley, then Pequot Capital Management and now at Blackstone. Importantly, my surprises are not […]
thestatedtruth.com | December 27, 2010
The median (defined as the amount separating the top 50% from the bottom 50% but not an average) retirement account for U.S. households is $2,000 (in other words half the population has more than $2,000 in retirement and half has less). This is why the vast majority of retirees depend on Social Security as their primary source […]
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
U.S. gasoline prices hit an average $3 a gallon for the first time in more than two years, according to AAA’s Daily Fuel Gauge Report. But there is no oil or gasoline shortage….So inquiring minds ask how could crude oil and gasoline be at this price level given ample supplies, and a lack luster macroeconomic […]
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
David Rosenberg of Gluskin-Sheff checks in on Bloomberg. He’s keying off comments from Barclays’ Bomb Diamond about the possibility of a Euro breakup, which Rosenberg sees as possible. It’s a matter of “when” not “if” noting that it was actually Germany that first breached its debt limits, and pointing out that the history of monetary unions […]
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 23, 2010
The recent jump in crude to around the $91 area has wiped out virtually the entire benefit from the just passed payroll tax “stimulus”. That’s just oil mind you, we haven’t even talked about the food inflation yet.  For every cent rise in gasoline,  the country loses $600 million in consumer buying power…….  And ….Every $1 rise […]
thestatedtruth.com | December 22, 2010
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