thestatedtruth.com | July 13, 2010
July 13, 2010 By George Friedman The United States has captured a group of Russian spies and exchanged them for four individuals held by the Russians on espionage charges. The way the media has reported on the issue falls into three groups: That the Cold War is back, That, given that the Cold War is […]
thestatedtruth.com | July 13, 2010
By Jim Polson and Jessica Resnick-Ault Jul 13, 2010 BP Plc plans to start testing today on a new cap over its leaking Gulf of Mexico well to determine whether it can stop the largest U.S. oil spill in history while continuing work on a permanent plug. Starting about noon local time, a 40-foot (12-meter) […]
thestatedtruth.com | July 12, 2010
2010-07-12 “Figures provided by FICO Inc. show that 25.5 percent of consumers — nearly 43.4 million people — now have a credit score of 599 or below, marking them as poor risks for lenders. It’s unlikely they will be able to get credit cards, auto loans or mortgages under the tighter lending standards banks now […]
thestatedtruth.com | July 12, 2010
The question is….how will this enormous amount of money be rolled over. If things don’t go smoothly, a crisis awaits the world’s banks. By JACK EWING Posted: July 12, 2010 FRANKFURT — The sovereign debt crisis would seem to create worry enough for European banks, but there is another gathering threat that has not garnered […]
thestatedtruth.com | July 12, 2010
I hope the Brits lock up Taranis safe and secure at night, One would think there are a few Russians that would love to fly this pie pan back to the motherland. Might then be uncatchable. By Daily Mail Reporter July 12,  2010 Looming ominously like a space ship from Star Wars, this is the future of unmanned flight. Defence firm BAE […]
thestatedtruth.com | July 12, 2010
 This is an interesting comment out of Russia. One has to wonder why they decided to discuss it now? MOSCOW                                 Mon Jul 12, 2010 MOSCOW July 12 (Reuters) – Russian President Dmitry Medvedev said on Monday that Iran was moving closer to having the potential to create nuclear weapons. “Iran is moving closer to […]
thestatedtruth.com | July 11, 2010
They got to be kidding…..Nope.  A new mandate looming, will require business owners to file millions more tax forms according to The Joint Committee on Taxation — a nonpartisan Congressional committee that analyzes pending tax legislation — estimated that it would bring in only about $2 billion a year in new tax revenue. By Neil deMause                                  Posted: […]
thestatedtruth.com | July 11, 2010
This not just possible, but most likely probable! July 11, 2010 WASHINGTON — President Barack Obama’s chief spokesman says it’s possible that Democrats could lose their majority in the House this fall. Press secretary Robert Gibbs says there’s no doubt that enough seats are in play for Republicans to take control. Gibbs says the outcome […]
thestatedtruth.com | July 11, 2010
By Michael McDonald      Jul 11, 2010 States can’t count on the federal government for more budget bailouts, the heads of President Barack Obama’s debt commission told governors today. States that are expecting Congress to authorize more bailout money are “going to be left with a very large hole to fill,†said Erskine Bowles, co-chairman of […]
thestatedtruth.com | July 10, 2010
Comstock Partners, Inc. Posted July 10, 2010 Velocity Is the Key We understand that we have discussed the debt problem in this country for what seems to be forever, but we can’t stop talking about it now that the debt is clearly the catalyst for the latest stock market downturn. Debt is discussed by the […]
thestatedtruth.com | July 10, 2010
BP removes old cap; oil runs free as new cap is prepared…….Let’s hope this works.  With British Petroleums record, we wouldn’t want to be in their shoes. Engineers began work Saturday on installing a new, tighter-fitting containment cap for the Gulf spill. They removed the old cap, which temporarily means oil is gushing out unabated. […]
thestatedtruth.com | July 9, 2010
So, you say who is Robert Reich…………. Robert Reich was the nation’s 22’nd Secretary of Labor and a professor at the University of California at Berkeley. He has served as labor secretary in the Clinton administration, as an assistant to the solicitor general in the Ford administration and as head of the Federal Trade Commission’s policy […]
thestatedtruth.com | July 9, 2010
In just six months, the largest tax hikes in the history of America will take effect. They will hit families and small businesses in three great waves on January 1, 2011: First Wave: Expiration of 2001 and 2003 Tax Relief In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business […]
thestatedtruth.com | July 8, 2010
 The problem is actually pretty simple. We have more debt than productive growth can support. Debt has been losing its marginal productivity for years now and it no longer increases GDP. Rather, we abruptly reached debt saturation and now growth in debt reduces GDP. We have such levels of mal-investment and excess balance sheet […]
thestatedtruth.com | July 8, 2010
WASHINGTON -(Dow Jones)- The federal budget deficit for the first nine months of the 2010 fiscal year was just over $1 trillion, the Congressional Budget Office reported Wednesday. The shortfall, reflecting $2.6 trillion in outlays for the first three quarters and $1.6 trillion in receipts, narrowed slightly compared with the same point in fiscal 2009. […]
thestatedtruth.com | July 8, 2010
By Vincent Del Giudice       Jul 8, 2010  Consumer borrowing in the U.S. dropped in May more than forecast, a sign Americans are less willing to take on debt without an improvement in the labor market. The $9.1 billion decrease followed a revised $14.9 billion slump in April that was initially estimated as a $1 billion […]
thestatedtruth.com | July 8, 2010
July 08,2010 In a significant step toward an AIDS vaccine, U.S. government scientists have discovered three powerful antibodies, the strongest of which neutralizes 91% of HIV strains, more than any AIDS antibody yet discovered. Looking closely at the strongest antibody, they have detailed exactly what part of the virus it targets and how it attacks […]
thestatedtruth.com | July 8, 2010
Records are made to be broke…. By Tyler Durden        07/08/2010 The Baltic Dry Shipping Index, which contrary to what some may claim, actually is one of the best leading indicators on global trade and thus the health of the economy, continues to plunge, and is now below 2000, hitting fresh 14 month lows, at 1940. […]
thestatedtruth.com | July 8, 2010
Nice of the IMF to warn us………. By Tyler Durden   07/08/2010 The IMF has issued a less than stellar outlook of the US economy after consultations with US government authorities, in which it cautions that even as the outlook has generally improved, major downside risks remain: “On the downside, the backlog of foreclosures and high […]
thestatedtruth.com | July 8, 2010
Now all you have to do is qualify! Today, Freddie Mac announced that the 30 Year FRM declined to a new all time record low, dropping by 1 bp to 4.57% from the week before. Yet even as mortgage rates hit fresh weekly records courtesy of the Fed’s undisputed control of the mortgage market, the […]
thestatedtruth.com | July 7, 2010
Wednesday  Jul. 07, 2010 By JEFF DONN and MITCH WEISS – Associated Press Writers Leading environmental groups and a U.S. senator on Wednesday called on the government to pay closer attention to more than 27,000 abandoned oil and gas wells in the Gulf of Mexico and take action to keep them from leaking even more […]
thestatedtruth.com | July 7, 2010
From  The Wall Street Journal From what we have heard and read, something similar to this has been in the works for some time. The U.S. plans a program, called “Perfect Citizen,” to detect cyber assaults on companies and government agencies running critical infrastructure which include the electricity grid and nuclear power plants.
thestatedtruth.com | July 7, 2010
Record low temperatures in San Diego By Gary Robbins , UNION-TRIBUNE STAFF WRITER Updated July 7, 2010 While much of the nation swelters, in San Diego people have to bundle up at the beach. This is July?  It didn’t feel that way as high temperatures were at record lows in San Diego County today, says […]
thestatedtruth.com | July 6, 2010
WHAT WE KNOW ABOUT BP DERIVATIVES: CSO (Credit Synthetic Obligations) A study by Moody’s outlines that a BP bankruptcy would impair 117 Collateralized Synthetic Obligations (CSOs), which would lead to pervasive losses by a broad range of holders. The 117 effected is a startling 18% of the total CSOs outstanding, which is an indication of […]
thestatedtruth.com | July 6, 2010
thestatedtruth.com | July 6, 2010
By Christopher Martin       July 6, 2010 The New York Independent System Operator, which controls the state’s power grid and market, ordered cuts to customers that participate in demand reduction programs as hot weather drove consumption near the record high. Power demand rose to 33,450 megawatts as of 4:22 p.m., even after the grid operator asked […]
thestatedtruth.com | July 5, 2010
Baltic Dry Freight Index down nearly 3% today and for the 26th week in successuion! By Definition: The Baltic Dry Index (BDI) is a number issued daily by the London-based Baltic Exchange. Not restricted to Baltic Sea countries, the Index tracks worldwide international shipping prices of various dry bulk cargoes.  The index provides “an assessment […]
thestatedtruth.com | July 5, 2010
The oil spill in the Gulf of Mexico has so far cost BP $3.12 billion. This, according to British Petroleum,  is the total amount to contain the spill and clean it up. But…..  does not include business claims.
thestatedtruth.com | July 5, 2010
California and Illinois, and more than 40 others states, are broke! By MICHAEL POWELL Posted July 5, 2010 CHICAGO — Even by the standards of this deficit-ridden state, Illinois’s comptroller, Daniel W. Hynes, faces an ugly balance sheet. Precisely how ugly becomes clear when he beckons you into his office to examine his daily briefing […]
thestatedtruth.com | July 5, 2010
The U.S. workforce shrank by 652,000 in June, one of the sharpest contractions ever. The rate of hourly earnings fell 0.1pc. Wages are flirting with deflation. So, can things get much worse? Yes! By Ambrose Evans-Pritchard Published: 9:33PM BST 04 Jul 2010 Ambrose Evans-Pritchard: Comment  “Home sales are down. Retail sales are down. Factory […]
thestatedtruth.com | July 4, 2010
President Obama looks like, well, you get the picture!  And you can stick a fork in BP, its done. ………..Here are some interesting comments from Cumberland.    The Sarasota fishmonger on Lemon St. now gets his shrimp from Sanibel. Louisiana is dead for years, he said. It will not come back in my lifetime.  $20 billion is too […]
thestatedtruth.com | July 3, 2010
Interesting thoughts……..Data maven, Greg Weldon ( www.weldononline.com) shows that the number of people planning vacations in 2010Â is down, dropping by over 35% in the last three years, and is now the second lowest number ever, only 2009 lower. Second lowest Ever. www.weldononline.com
thestatedtruth.com | July 2, 2010
By Tyler Durden on 07/02/2010Â Â Â Zero hedge The decoupling theorists are about to experience a second smack down in 3 years. After the biggest bubble of 2008 blew up spectacularly and made beggars out of the Greek CEOs of various dry bulk shippers, only to see their fortunes go back to unchanged again, it looks […]
thestatedtruth.com | July 2, 2010
Gold and gold stocks look absolutly terrible, so this makes a lot of sense! The Hulbert Financial Digest has been tracking this kind of thing for over 30 years.  Friday July 2, 2010 ANNANDALE, Va. (MarketWatch) — Gold’s huge drop on Thursday is not the beginning of a new major leg down for the […]
thestatedtruth.com | July 2, 2010
Thoughts For This Morning Yesterday’s action in gold was started by a hedge fund that was experiencing a withdrawal of funds, as did most in the last quarter. They attempted to take a profit and get money out of the market for redemptions by entering a sell for their gold in the cash and paper […]
thestatedtruth.com | July 2, 2010
It looks like the only ones in denial are the government officials, or is it that if they told us how bad things really are, everyone would freak? Pacific Investment Management Co.’s Bill Gross and David Rosenberg, chief economist at Gluskin Sheff & Associates Inc., said June’s employment report indicates sluggish job growth and a […]
thestatedtruth.com | July 1, 2010
Borrowing costs have tumbled in the past two months as concern that a debt crisis in Europe may spread boosted demand for the safety of bonds including mortgage-backed securities. The lower rates have failed to lift housing demand, which has tumbled since a tax credit for first- time and certain other buyers expired at the […]
thestatedtruth.com | July 1, 2010
Decline in sales of existing U.S. homes shows that the industry at the center of the financial crisis continues to  remain vulnerable in the absence of government support.  Sounds like everything needs government support to exist today! By Shobhana Chandra              July 1 (Bloomberg) — Manufacturing in the U.S. expanded in June at the slowest pace this […]
thestatedtruth.com | June 30, 2010
So, the big question is….can the U.S. cope with another banking emergency? By Sean O’Grady and James Moore Tuesday, 29 June 2010 Britain’s mountain of debt could leave the country powerless to launch another rescue bid in the wake of a fresh financial crisis, the world’s central bankers warned yesterday. Their “club” – the Bank […]
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