thestatedtruth.com | August 10, 2010
The following chart demonstrates that consumers are retrenching, and “just saying no” to both residential and consumer loans. We also see that Small Businesses has contracted and, that credit demand is collapsing at every avenue of US society. QE, or cheaper money, has and always will be a “push” phenomenon, for which there is simply no […]
thestatedtruth.com | August 10, 2010
Drought, Fire and Grain in Russia August 10, 2010 By Lauren Goodrich Three interlocking crises are striking Russia simultaneously: the highest recorded temperatures Russia has seen in 130 years of recordkeeping; the most widespread drought in more than three decades; and massive wildfires that have stretched across seven regions, including Moscow. The crises threaten the […]
thestatedtruth.com | August 9, 2010
Everyone should watch this Video…..Forget your politics, listen to the Words                  http://www.youtube.com/watch_popup?v=qtjfMjjce2Y
thestatedtruth.com | August 9, 2010
Gene Inger’s Daily Briefing . . . for Tuesday August 10, 2010:  Good evening;     ‘A recessionary relapse’ ……. .is the biggest unreported forecast story of the day. Not by us (though we unfortunately concur but see real risk sooner), but rather from none other than the San Francisco Federal Reserve. I read the key […]
thestatedtruth.com | August 9, 2010
John Williams of Shadowstats.com uses m-3 velocity of money (or turnover of money) as an important barometer, here is what he is saying now, Williams’ assessment of the economy was spot on in 2008…….. A greater systemic solvency crisis is closer then ever  . . . within the next six months to a year. What is happening […]
thestatedtruth.com | August 9, 2010
On average, personal income dropped 1.8% in 2009, following a 2.7% increase in 2007, according to the Commerce Departments latest figures. Â
thestatedtruth.com | August 8, 2010
Can we believe them! Â British Petroleum announced that a test on the cementing operation needed to plug its well in the Gulf of Mexico was successful.
thestatedtruth.com | August 8, 2010
A chunk of ice four times the size of Manhattan has calved from Greenland’s Petermann Glacier, scientists announced on Friday. The last time the Arctic lost such a large chunk of ice was in 1962. Petermann Glacier, the parent of the new ice island, is one of the two largest remaining glaciers in Greenland that […]
thestatedtruth.com | August 7, 2010
thestatedtruth.com | August 6, 2010
Bill Gross calls it the new normal, where the consumer becomes a saver. He says artificial consuming i.e. borrow and spend is gone for a long time. Americans cut credit-card use for the 21st straight month in June as static  job growth and a slowing economy turned spenders into savers. The national saving rate, meanwhile, rose, to 6.4%, […]
thestatedtruth.com | August 6, 2010
Pacific Investment Management Co.’s Bill Gross said the Federal Reserve is unlikely to raise interest rates for two to three years as it seeks to keep the economy from slipping back into recession. Treasury two-year note yields dropped below 0.50 percent for the first time today after the Labor Department said the economy lost more […]
thestatedtruth.com | August 6, 2010
thestatedtruth.com | August 5, 2010
The 30 year Freddie Fixed Rate Mortgage has just printed under4.50%, at 4.49%: a  new all time record low. Japan has already watched this movie…….It doesn’t matter at what rate the mortgage is, but more importantly for now is the security of having 1) cash flow and 2) a job. Both seem to be in short supply […]
thestatedtruth.com | August 5, 2010
Hmm…….There really are free lunches! Boston.com says it all: “The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday. Recipients of Supplemental Nutrition Assistance Program subsidies for food purchases jumped 19 percent from a year earlier […]
thestatedtruth.com | August 5, 2010
These two companies Fannie Mae and Freddie Mac could very well lose money forever! At some point the government has to just say enough of this and either shut both of them down, or require higher down payments on home purchases to protect their assets. Simple as that!  By  Lorraine Woellert         Thursday August 05, 2010 Fannie Mae, […]
thestatedtruth.com | August 5, 2010
 Thu Aug 5, 2010 * Postal Service concerned with future liquidity * Says regulatory changes necessary for fiscal stability By Jasmin Melvin WASHINGTON, Aug 5 (Reuters) – The U.S. Postal Service reported a quarterly net loss of $3.5 billion on Thursday and said it will likely have a cash shortfall going into 2011. The […]
thestatedtruth.com | August 5, 2010
Jim Sinclair says….Nothing has been cured and the potential for a second and more shocking economic event is real and in the present time! Posted August 05, 2010    By Min Zeng NEW YORK (Dow Jones)–The total outstanding notional amount for all interest rate derivative transactions reported by the 14 major dealers including Goldman Sachs & […]
thestatedtruth.com | August 5, 2010
By Tami Luhby, Senior Writer Posted August 5, 2010 NEW YORK (CNNMoney.com) — The Senate overcame a key procedural hurdle Wednesday to send $26 billion more in federal aid to cash-strapped states. The measure, which passed by a 61-38 vote, contains $16.1 billion in additional Medicaid money and $10 billion to prevent layoffs of teachers […]
thestatedtruth.com | August 4, 2010
 Source: CREonline Does the above chart look daunting? It should. The peak won’t hit until 2012 when nearly $350 billion in CRE loans will come due. And just look at the amount held by banks and thrifts. This is why predicting another 1,000 bank failures (at least) is within the cards. The connections between […]
thestatedtruth.com | August 4, 2010
By LOLITA C. BALDOR Associated Press Writer= WASHINGTON (AP) — Computer hackers have begun targeting power plants and other critical operations around the world in bold new efforts to seize control of them, setting off a scramble to shore up aging, vulnerable systems. Cyber criminals have long tried, at times successfully, to break into vital […]
thestatedtruth.com | August 4, 2010
Well plugged…..Let’s hope so. ON THE GULF OF MEXICO — In a significant step toward stopping the worst offshore oil spill in U.S. history, BP said Wednesday mud that was forced down its blown-out well was holding back the flow of crude in the Gulf of Mexico and it was in a “static condition.” There is […]
thestatedtruth.com | August 4, 2010
General Motors Co. and Ford Motor Co. reported U.S. sales in July that trailed analysts’ estimates as consumers concerned about the economy limited large purchases. Toyota Motor Corp. and Nissan Motor Co. topped expectations. GM’s sales rose 1.5 percent, including an adjustment for the number of selling days in July. On that basis, the largest […]
thestatedtruth.com | August 4, 2010
Contracts for pending sales of previously owned U.S. homes fell to a record low in June as buyers sat on the sidelines, a survey from the National Association of Realtors showed on Tuesday. The June decline followed a 30 percent drop in May after a popular tax credit expired at the end of April. The […]
thestatedtruth.com | August 4, 2010
By Bloomberg News – Aug 4, 2010 China’s banking regulator told lenders last month to conduct a new round of stress tests to gauge the impact of residential property prices falling as much as 60 percent in the hardest-hit markets, a person with knowledge of the matter said. Banks were instructed to include worst-case scenarios […]
thestatedtruth.com | August 3, 2010
By Jim Polson and Katarzyna Klimasinska – Aug 3, 2010 BP Plc started plugging its Gulf of Mexico oil well with drilling mud, another step in the company’s effort to permanently seal the source of history’s worst accidental oil spill. BP began pumping mud into the top of the well for its “static kill†operation […]
thestatedtruth.com | August 3, 2010
thestatedtruth.com | August 2, 2010
Hulu is a website offering commercial-supported streaming video of TV shows and movies from NBC, Fox, ABC, and many other networks and studios. Hulu videos are currently offered only to users in the United States In order to ensure that no international users outside the U.S. have access to the videos, Hulu blocks many anonymous […]
thestatedtruth.com | August 2, 2010
 Key Elements Of This Article Are: In the United States, the Fed’s latest Survey of Consumer Finances revealed that current or close retirees have roughly $50,000 of retirement savings, excluding the now questionable equity in their homes. Those born before in a macabre sense, the financial crisis couldn’t have been better timed, if it […]
thestatedtruth.com | August 2, 2010
SULTANS OF SWAP: Gold Swaps Signal the Roadmap Ahead BIS – The Super SIV Solution The news rocked the global gold market when an almost obscure line item in the back of a 216 page document released by an equally obscure organization was recently unearthed. Thrust into the unwanted glare of the spotlight, the little […]
thestatedtruth.com | August 1, 2010
Why this is the Titanic and the life boats have already been launched! The household debt/income ratio is (still) near record highs of 120% and one-quarter of the consumer universe has a sub-600 FICO score – which means they are ineligible for Fannie or Freddie mortgage financing. The banks have few opportunities to lend – households […]
thestatedtruth.com | August 1, 2010
Here are some of the comments from Alan Greenspan on NBC’s “Meet The Press”.  We should keep in mind that Alan Greenspan told congress a year or two back that his “model” was broken! Joshua Zumbrun        August 1, 2010 “We’re in a pause in a recovery, a modest recovery, but a pause in the modest recovery […]
thestatedtruth.com | July 31, 2010
The economy of the U.S. grew at a weaker than expected 2.4% in the second quarter, but the first quarter was revised back up to 3.7% on the strength of stronger-than-projected inventory rebuilding. But the recession years were revised downward rather significantly for this late in the cycle. We find now that the recession was […]
thestatedtruth.com | July 30, 2010
Posted Friday July 30,  2010 By: David A. Patten Former GOP House Speaker Newt Gingrich warned Thursday that President Obama and congressional Democrats appear to be on the verge of repeating the same mistakes that aggravated the Great Depression, adding that letting the Bush tax cuts expire would prove “very dangerous” for the nation’s economy. Speaking […]
thestatedtruth.com | July 30, 2010
Hint……this is not a pretty picture! Posted from zerohedge.com Exerts from a Goldman review are shown below. The chart below provides an integrated look at the GDP growth impact of fiscal policy at the federal, state, and local level.  These numbers are based on our current assumptions that (1) Congress will not extend emergency unemployment benefits beyond the […]
thestatedtruth.com | July 30, 2010
By John Hughes      July 30, 2010 The U.S. House passed legislation that would increase by sixfold the minimum experience pilots need to work at airlines in response to a commuter-plane crash. The requirement that pilots have 1,500 hours of flight time, surpassing the current 250-hour minimum, was sought by pilot unions and relatives of victims […]
thestatedtruth.com | July 29, 2010
Exerts from:             Bill Gross    Investment Outlook    August 2010 Observers will point out, as shown in the following chart, that global population growth rates have been declining since 1970 with no apparent ill effects. True, until 2008, I suppose. The fact is that since the 1970s we have never really experienced a secular period during which […]
thestatedtruth.com | July 29, 2010
Broken Financial Generations – U.S. households only have a median of $2,000 saved in retirement accounts. The median net worth for those 25 to 34 is $3,700. Which generation will support the economy going forward? Social Security beneficiaries make up 19 percent of all Americans.     This is setting up a big problem.  The demographics of the […]
thestatedtruth.com | July 29, 2010
A drop in usage is showing up just as health-care companies report financial results. Insurers, lab-testing companies, hospitals and doctor-billing concerns say that patient visits, drug prescriptions and procedures were down in the second quarter from year-ago levels. “People just aren’t using health-care like they have,” said Wayne DeVeydt, WellPoint Inc.’s chief financial officer, in an […]
thestatedtruth.com | July 28, 2010
By Alex Kowalski – Jul 28, 2010 Pacific Investment Management Co.’s Bill Gross said deficit spending by governments that seek to maintain artificial levels of consumption “can be compared to flushing money down an economic toilet.†Without acceleration in population growth, developed countries finance more consumption to maintain economic growth, the world’s biggest bond-fund manager […]
thestatedtruth.com | July 27, 2010
This means each additional dollar of debt is now working its way into a negative muliplyer effect on our economy….not to long ago, it had just the opposite effect, the more debt, the more we would grow. Now at some point going forward, a hiccup in the trillions of dollars of derivatives will set off a domino effect of defaults, […]
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