thestatedtruth.com | July 27, 2010
Just a reminder…… Jim Rogers was George Soro’s original partner for the Quantum Fund. Both are now billionaires! Robert Shiller, co-creator of the Standard & Poor’s/Case-Shiller house price index, also warned that the next downturn may come, maybe even sooner. By James Quinn, US Business Editor Published 27 Jul 2010 Mr Rogers, the respected currency trader and hedge […]
thestatedtruth.com | July 27, 2010
“Noisy†economic reports underscore the “unusually uncertain†outlook cited by Federal Reserve Chairman Ben S. Bernanke, according to Pacific Investment Management Co.’s Mohamed El-Erian. Corporate earnings are backward-looking, and the key economic issue is the U.S. labor market, El-Erian, Pimco’s chief executive and co-chief investment officer, said in a radio interview today with Tom Keene […]
thestatedtruth.com | July 27, 2010
U.S. local governments may cut almost 500,000 jobs through next year to cope with sliding property taxes, a decline in state and federal aid and added need for social services, according to a report released today. The report, a result of a survey by the National League of Cities, the U.S. Conference of Mayors and […]
thestatedtruth.com | July 27, 2010
About 18.9 million homes in the U.S. stood empty during the second quarter as surging foreclosures helped push ownership to the lowest level in a decade. The number of vacant properties, including foreclosures, residences for sale and vacation homes, rose from 18.6 million in the year-earlier quarter, the U.S. Census Bureau said in a report […]
thestatedtruth.com | July 27, 2010
This is going to be the new normal……specifically the savings part! American consumers lost confidence in July, shaken by mounting concern over jobs and wages that threatens to constrain the economic recovery. The Conference Board’s sentiment index fell to 50.4, below the median forecast of economists surveyed by Bloomberg News and the lowest level in five months. […]
thestatedtruth.com | July 26, 2010
July 26 (Reuters) – Iranian criticism of Russian President Dmitry Medvedev is “unacceptable” and “fruitless, irresponsible rhetoric”, the Russian Foreign Ministry said on Monday. Medvedev told foreign ambassadors on July 12 that Iran was moving closer to the potential to create nuclear weapons. Iranian President Mahmoud Ahmadinejad reacted harshly last weekend, calling Medvedev’s statement “the […]
thestatedtruth.com | July 26, 2010
WASHINGTON – It could take days to restore power to hundreds of thousands of people in the D.C. area after a violent storm downed power lines and trees and left three people dead. Powerful, fast-moving storms swept through the region Sunday, leaving hundreds of thousands of families without electricity. Three people died as a result […]
thestatedtruth.com | July 24, 2010
 About 31 percent of U.S. oil output and about 10 percent of gas production, comes from the Gulf of Mexico according to the Energy Department By Dan Hart – Jul 24, 2010 Bonnie has degenerated to a “disorganized area of low pressure†near the U.S. Gulf Coast, hours after the National Hurricane Center lifted […]
thestatedtruth.com | July 24, 2010
THIS MAY BE THE ONLY THING GLOBAL ECONOMIES OF THE WORLD HAVE TO LOOK FORWARD TO.  IN THE END, EVERYONE WILL BE WORSE OFF.  GOLD ANYONE? Gloom, Boom and Doom publisher Marc Faber says the Fed will begin “massive†quantitative easing by October.  “The economy is not robust,†Faber told Bloomberg. “We have mixed signals, but […]
thestatedtruth.com | July 24, 2010
By John Mauldin July 24, 2010 Â The Elements of Deflation Just as every school child knows that water is formed by the two elements of hydrogen and oxygen in a very simple combination we all know as H2O, so deflation has its own elements of composition. Let’s look at some of them (in no […]
thestatedtruth.com | July 22, 2010
Gobbledygook?    We encounter it frequently.   Contracts written at a reading level most can’t understand. Only one in five adults reads above a 12th-grade level.   By Connie Prater Credit card agreements are written on average at a 12th grade reading level, making them not understandable to four out of five adults, according to a CreditCards.com […]
thestatedtruth.com | July 22, 2010
 By Lydia Saad   PRINCETON, NJ — Gallup’s 2010 Confidence in Institutions poll finds Congress ranking dead last out of the 16 institutions rated this year. Eleven percent of Americans say they have “a great deal” or “quite a lot” of confidence in Congress, down from 17% in 2009 and a percentage point lower than […]
thestatedtruth.com | July 22, 2010
  * Louisiana declares state of emergency  * U.S. officials evaluating whether to evacuate area  Thu Jul 22, 2010 By Kristen Hays and Anna Driver HOUSTON, July 22 (Reuters) – BP Plc (BP.L) (BP.N) oil spill workers in the Gulf of Mexico prepared for a possible evacuation on Thursday as a tropical storm threatened […]
thestatedtruth.com | July 20, 2010
Source: Institute for Policy Studies The above shows a solid plutocracy is already here. Wealth is the key issue. As many people are now finding out simply having a massive home with a jumbo mortgage and a leased foreign car is no sign of wealth. In fact, that can be taken from you quickly (and […]
thestatedtruth.com | July 20, 2010
For decades the idea was that you can spend more than you earn. This came all the way from the top so it shouldn’t be a surprise that many in the middle class took their signal from their leaders. What happened? Source: Lew Rockwell The personal savings rate went so low that it went from […]
thestatedtruth.com | July 20, 2010
Interesting happenings between U.S. government and BP………….A standoff between BP and the US government over the handling of the stricken Macondo well in the Gulf of Mexico continued with a sharp exchange of words over the best way to keep the oil contained .   At the heart of the dispute is anxiety about what is […]
thestatedtruth.com | July 20, 2010
Write up from Byron Wein…………”The Smartest Man In Europe” Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Commentary courtesy of www.fmxconnect.com We recently came across an interesting piece from Blackstone on the European Stimulus and the road to recovery. Bryon Wein is a well known strategist. The most salient points are outlined below: No clear way out of the enormous debt burden […]
thestatedtruth.com | July 19, 2010
July 19 (Bloomberg) — Billionaire investor George Soros said U.S. lawmakers should refrain from withdrawing stimulus measures because the economy hasn’t strengthened enough.“I think the timing is wrong with withdrawing the stimulus,†Soros said at the Hamptons Institute in East Hampton, New York on July 16. “Cutting employment benefits, cutting aid to states that are […]
thestatedtruth.com | July 19, 2010
   July 19, 2010    .     By Carly Porter               AccuWeather.com Staff Writer    . A well-developed tropical wave currently bringing strong winds and rough seas north of Puerto Rico could develop into a tropical system by the weekend. According to AccuWeather.com hurricane meteorologist Dan Kottlowski, there is high potential for this tropical wave to evolve […]
thestatedtruth.com | July 18, 2010
Must listen interview of Matt Simmons. Absolutely a must listen interview. He is not sure a trillion dollars will be enough to clean up the Gulf!   Simmons thinks British Petroleum is a dead company walking. http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/7/17_Matt_Simmons.html
thestatedtruth.com | July 17, 2010
Generally very good news out of the Gulf of Mexico….Bloomberg says the well is capped successfully,     AP says looking much better, but still puzzling readings from busted well. BP Says Cracks in Well Head Still Possible As Cap Test Goes On But Are Encouraged.    Bloomberg        07-17-2010  BP Plc said tests on its Macondo well show no […]
thestatedtruth.com | July 16, 2010
CNBC’s Simon Hobbs fought it out with Michael Pento today about the reality of the current economic situation in the U.S. Â http://www.youtube.com/watch?v=mfd8ZwMfG34&feature=player_embedded
thestatedtruth.com | July 16, 2010
One, but not the only reason the commodity grain markets have been going bananas lately.  An emergency drought situation has been declared in 19 of Russia’s 83 regions with crops dying on an estimated 9.6 million hectares of fields. The drought-struck areas were suffering “colossal destruction,” Agriculture Minister Yelena Skrynnik said.   July 16, 2010 […]
thestatedtruth.com | July 16, 2010
By CalculatedRisk Posted 07-16-2010 According to the Bank for International Settlements, at year end 2009 worldwide sovereign debt exceeded $34 trillion, and is greater than the amount of corporate bonds outstanding. Japan and the U.S. dwarf most other borrowers. Together they have about half of all sovereign debt worldwide. Still, 23 other countries have over […]
thestatedtruth.com | July 16, 2010
Michigan Consumer Sentiment Index Fell in July By Shobhana Chandra      Jul 16, 2010 July 16 (Bloomberg) — The Thomson Reuters/University of Michigan preliminary index of consumer sentiment fell to 66.5 in July from 76 a month earlier, below forecasts. Economists surveyed by Bloomberg News had a median projection of 74. Bloomberg’s Mike McKee reports. (Source: […]
thestatedtruth.com | July 16, 2010
U.S. consumer prices dipped slightly in June, but the core measure that strips volatile food and energy prices posted its largest gain since October 2009. The Labor Department said in a report Friday that the seasonally-adjusted consumer price index slid 0.1% last month, knocked down by a decline in energy prices. In May, consumer prices were down […]
thestatedtruth.com | July 15, 2010
Interesting comments from Matt Simmons…..must hear interview from msnbc today Thursday,  July 15, 2010…….so what’s really going on in the Gulf of Mexico?   Matthew Simmons, founder and chairman emeritus of Simmons & Company International, is a prominent oil-industry insider and one of the world’s leading experts on the topic of peak oil. Simmons was […]
thestatedtruth.com | July 15, 2010
First half of 2010 warmest on record Global land and ocean surface temperatures in the first half of 2010 were the warmest on record, the federal climate service reported Thursday.
thestatedtruth.com | July 15, 2010
Surveyed firms reported a decline in new orders this month compared with June. Employment showed a slight improvement this month. The survey’s broad indicators of future activity continue to suggest that the region’s manufacturing executives expect growth in business over the next six months, but optimism has waned notably in recent months.The survey’s broadest measure […]
thestatedtruth.com | July 15, 2010
ICI reports that domestic equity mutual funds saw $4.1 billion in outflows, the largest outflow in the past 2 months, and the third biggest weekly redemption in 2010! This is also the tenth sequential outflow, amounts to $34 billion in total outflows YTD.
thestatedtruth.com | July 15, 2010
From→ Washington’s Blog       7-15-2010 BP has succeeded in capping the well and stopping oil from flowing into the Gulf of Mexico … at least temporarily. The official Deepwater Horizon Response Twitter feed noted as of a couple of minutes ago: Update:        NO OIL FLOWING INTO THE GULF  As of this writing, Skandi ROV 2’s […]
thestatedtruth.com | July 14, 2010
How do we know stocks are still overvalued? We know by looking at Professor Robert Shiller’s cyclically adjusted PE chart for the past 130 years. The cyclically adjusted PE is one of the only measures of valuation that has some long-term predictive validity, and this chart suggests that stock returns are going to continue to […]
thestatedtruth.com | July 14, 2010
So who does one believe in this situation……. Submitted by George Washington on 07/14/2010  Admiral Thad Allen just announced that the well integrity test has gotten a green light.  The test has already started. As I noted yesterday, BP suspended the “top kill” operation for 16 hours – because, according to numerous experts, it […]
thestatedtruth.com | July 14, 2010
Speaking of credit, or the lack thereof, the U.S. has been stripped of its AAA credit rating. So have Britain, France and Germany… This morning, the Dagong Global Credit Rating Co., China’s first real attempt at a ratings agency, initiated coverage on the sovereign debt of 50 different countries. “Dagong’s sovereign credit ratings are based […]
thestatedtruth.com | July 14, 2010
Jim Grant, editor of Grant’s Interest Rate Observer, appeared on Bloomberg TV to talk about the Fed’s three potential additions to the Board of Governors. Jul 14, 2010 Here are the key highlights from the interview, courtesy of Bloomberg Television: Grant’s thoughts on new Fed additions: “I think the first order of business will be […]
thestatedtruth.com | July 14, 2010
Fed policy makers raised the possibility that further monetary stimulus may be needed if the economy shows more serious signs of slowing.  They also cut growth forecasts and suggested slower growth is possible going forward.
thestatedtruth.com | July 13, 2010
The corporate recovery looks good, actually it looks great,……but what about main street? By Ian King – Jul 13, 2010 Intel Corp., the world’s biggest chipmaker, reported record second-quarter sales and topped analysts’ estimates with its forecast for this period, allaying concern that a rebound in technology spending is losing steam. Third-quarter sales will be […]
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