thestatedtruth.com | May 28, 2010
The personal consumption to income ratio remains above 85%. A society based on excessive consumption with little investment is not sustainable. When wealth created from previous productive endeavors is consumed or transferred, society is left with obligations that it cannot pay. Personal consumption to income ratio: Consumer spending was stagnant in April while incomes posted […]
thestatedtruth.com | May 27, 2010
This is not good any way you cook it……..The pundits are buzzing about the rapid decline in the money supply of late. The latest catalyst for the chatter is a story yesterday in the Telegraph, which ran this provocative headline: U.S. money supply plunges at 1930s pace as Obama eyes fresh stimulus.The story goes on […]
thestatedtruth.com | May 27, 2010
Oil Slickonomics – Part 5 – Chutzpah May 27, 2010 “Any and all injury, loss, destruction and damage arising out of or related to the above described casualty event was not caused or contributed to by any fault, negligence or lack of due care on the part of Petitioners…â€Â     This was excerpted from the […]
thestatedtruth.com | May 27, 2010
The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the biggest fiscal blitz in history. (This is what John Williams of Shadow Statistics has been warning about over the past number of months). […]
thestatedtruth.com | May 27, 2010
#1) In what universe is an economy with 39.68 million Americans on food stamps considered to be a healthy, recovering economy? In fact, the U.S. Department of Agriculture forecasts that enrollment in the food stamp program will exceed 43 million Americans in 2011. Is a rapidly increasing number of Americans on food stamps a good sign or […]
thestatedtruth.com | May 26, 2010
  by Bmoreland    05/26/2010 Every day we hear “housing has bottomed” or “experts predict housing will rebound in late 2010”. A review of the quarterly bank data reveals some somewhat contradictory numbers: The data is 1-4 Family First Liens. Nonperforming loans are defined as loans 90+ Days Past Due and loans on Nonaccrual (no longer recognizing interest income). We […]
thestatedtruth.com | May 26, 2010
Wed May 26, 2010 8:20pm IST    * Ahmadinejad calls on Medvedev to change sanctions stance * Iran tells Kremlin chief to “think more” and be “cautious” * Russia raps Iranian president for political demagoguery * Worst row between Russia and Iran since Cold War  By Robin Pomeroy and Guy Faulconbridge TEHRAN/MOSCOW, May […]
thestatedtruth.com | May 25, 2010
Why buying a home today makes little financial sense. 3 reasons why taking on a mortgage in today’s market is deep in speculation. Are homes still over valued? Tax benefit not as big as you would expect.   Tue, 25 May 2010 It is hard for many to believe that home prices in many […]
thestatedtruth.com | May 25, 2010
May 24th, 2010 SALT LAKE CITY — Many Utahns woke up to a blanket of snow Monday morning. The wet and slushy weather caused a few problems throughout the day, but the late storm was mostly an inconvenience. The storm produced the latest spring snow ever recorded at Salt Lake City International Airport. It arrived […]
thestatedtruth.com | May 24, 2010
Updated May 24, 2010 The Next Bailout: $165B For Unions By Erik Berte  – FOXBusiness      Taxpayers could be on the hook for another $165 billion if a bill to bail out private union pension funds makes it through Congress. A Democratic senator is introducing legislation for a bailout of troubled union pension funds. If passed, the […]
thestatedtruth.com | May 24, 2010
Health Care Law  63% Favor Repeal of National Health Care Plan  May 24, 2010 Support for repeal of the new national health care plan has jumped to its highest level ever. A new Rasmussen Reports national telephone survey finds that 63% of U.S. voters now favor repeal of the plan passed by congressional […]
thestatedtruth.com | May 24, 2010
Unfortunately, our woeful tale of unfunded liabilities does not end in Washington. Several state governments are also racking up large annual deficits and even larger unfunded pension liabilities. Right here at home, in the Golden State, government finances have rapidly slipped from “okay” to “abysmal.” And once again, the official debt numbers tell only a […]
thestatedtruth.com | May 24, 2010
One False Move In Europe Could Set Off Global Chain Reaction By Howard Schneider and Neil Irwin Washington Post Staff Writer Monday, May 24, 2010 If the trouble starts — and it remains an “if” — the trigger may well be obscure to the concerns of most Americans: a missed budget projection by the Spanish […]
thestatedtruth.com | May 24, 2010
The International Monetary Fund (IMF) has raised fresh concerns about Spain’s economy, saying “far-reaching” reforms are needed to ensure its recovery. It said the country faced “severe” challenges, including the need to urgently reform a “dysfunctional” labour market, and its banking sector. The IMF’s comments came after Spanish authorities had to rescue regional lender Cajasur […]
thestatedtruth.com | May 24, 2010
May 24, 2010 “The most recent satellite imagery indicates that the portion of the oil previously observed moving to the SE towards the Loop Current (LC) has largely been entrained into a counter-clockwise rotating eddy to the north of the LC. Over flight observations report this oil is in the form of very scattered light […]
thestatedtruth.com | May 23, 2010
Geez,  No wonder Europe has debt problems, this may well cause rioting across France ….. Expectations are growing that France is set to remove the right to retire at 60, as it embarks on a contentious reform of its debt-laden pension system and brings public finances back into line.   By Peggy Hollinger in Paris Published: […]
thestatedtruth.com | May 23, 2010
thestatedtruth.com | May 23, 2010
You have North Korea threatening ‘all-out war’ now; which is precisely a situation they calculate the United States cannot afford nor permit amidst this chaos. I fear there’s a risk of miscalculation on their part, which could actually start a hot war. Then I consider their conspiratorial allies in Iran and the terrorists in Lebanon, […]
thestatedtruth.com | May 23, 2010
The X-37B has a wingspan of just over 14 feet and is 29 feet long. It looks something like a space shuttle, although about a quarter of the length. We discused the X-37B in an April 4, 2010 article here at The Stated Truth….To review that article, go to the categories section to the left and […]
thestatedtruth.com | May 22, 2010
Mr. Klarman is president of the Baupost Group, an investment firm in Boston that manages $22 billion. His three private partnerships have returned an annual average of around 19% since inception in 1983—and nearly 17% annually over the past decade, as stocks went nowhere.  Submitted by Tyler Durden on 05/22/2010  From Zero Hedge…………. A […]
thestatedtruth.com | May 22, 2010
LONDONÂ Â Â Â Â Â Â BP PLC’s chief executive told staff he was frustrated by the company’s failure to stop an oil leak in the U.S. Gulf of Mexico and warned an attempt to do so starting next week could fail. In an email to staff late Friday, Tony Hayward said, “Like all of you, and the outside world, […]
thestatedtruth.com | May 22, 2010
 Net Worth of the U.S. Presidents By Mark J. Perry         May 22, 2010  From The Atlantic: Having examined the finances of all 43 presidents, we calculated the net worth figures for each in 2010 dollars. Because a number of presidents, particularly in the early 19th Century, made and lost huge fortunes in a matter […]
thestatedtruth.com | May 22, 2010
This is interesting and very telling, the 4 largest banks in the U.S. are larger then all of the 8,095 other banks in the FDIC system!   Uh…..is that right, Yep, that’s right.  FDIC next government trillion dollar bailout? Since January of 2000 to October of 2007 we had 27 bank failures. From January 2008 to May […]
thestatedtruth.com | May 21, 2010
Friday, May 21, 2010 EconomicPolicyJournal.com has learned that 32 states have run out funds to make unemployment benefit payments and that the federal governmant has been supplying these states with funds so that they can make their payments to the unemployed. In some cases, states have borrowed billions. As of May 20, the total balance […]
thestatedtruth.com | May 20, 2010
 Submitted by Tyler Durden on 05/20/2010 As if uncontrollable economic contagion was not enough for the administration, Obama is now willing to add geopolitical risk to the current extremely precarious economic and financial situation. Over at Debkafile we read that the president has decided to “boost US military strength in the Mediterranean and Persian […]
thestatedtruth.com | May 20, 2010
Is British Petroleum lying?     95,000 Barrels Are Leaking Daily, Says Engineer….A professor of engineering told Congress that the reality is 95,000 barrels of oil are gushing out of the oil leak daily.That’s 4 million gallons a day.  Not the 5,000 barrels reported.                                                                                                                        ~~~~~~~~~~  Gregory White | May 20, 2010  While BP may […]
thestatedtruth.com | May 20, 2010
Ten percent of all banks are in trouble according to the FDIC, and I’m sure they aren’t telling us everything…………A total of 775 banks, or one-tenth of all U.S. banks, were on the Federal Deposit Insurance Corp.’s list of “problem” institutions in the first quarter, as bad loans in the commercial real-estate market weighed on […]
thestatedtruth.com | May 20, 2010
By Rita Nazareth May 20 (Bloomberg) — The Standard & Poor’s 500 Index’s 12 percent decline from April’s high may worsen amid concern that Europe’s debt crisis will derail global growth, said Mohamed A. El-Erian, chief executive officer of Pacific Investment Management Co. “This is not a typical retracement,†El-Erian, 51, whose firm runs the […]
thestatedtruth.com | May 19, 2010
Here is the scoop, or should we say the poop!     In case you missed it, Arizona voters overwhelmingly approved Proposition 100 on Tuesday, which raises the state sales tax by one percentage point for three years. A whopping two-thirds majority voted for the move. Arizona’s budget crisis is one of the worst in the country, […]
thestatedtruth.com | May 19, 2010
New BP Insertion Tube Isn’t Working  Submitted by George Washington on 05/19/2010   Tube inside the leaking oil pipe – unfortunately – isn’t doing very much. Specifically, the Miami Herald points out that – according to the Coast Guard – the spill is getting worse in spite of the insertion tube:  The massive Gulf […]
thestatedtruth.com | May 19, 2010
 by Tyler Durden on 05/19/2010  From Goldman’s Jan Hatzius. Delinquencies and Foreclosures Rise Again Data just released by the Mortgage Bankers’ Assn show that more than one-tenth of all US mortgages are delinquent, a new record high. Homes in foreclosure edge up slightly as well. One caveat: the increases are driven by seasonal […]
thestatedtruth.com | May 19, 2010
05/19/2010 14:01 -0500 ICI has reported the most recent fund flow data, and it’s a doozy. In the week following the flash crash, domestic equity funds saw a whopping $8.6 billion in outflows. As a result, the YTD outflow is over $9 billion, so in essence after almost going back to breakeven before May 6, […]
thestatedtruth.com | May 19, 2010
By Nicole Bullock in New York and Hal Weitzman in Chicago Published: May 19 2010 20:44 | Last updated: May 19,2010 Illinois used to have a plan to pay off the gaping shortfall in the pension funds that pay retired teachers, university employees, state workers, judges and politicians, Dan Long recalls. Mr Long, director of […]
thestatedtruth.com | May 19, 2010
Alan Zibel, AP Real Estate Writer,    Wednesday May 19, 2010 WASHINGTON (AP) — The mortgage crisis is dragging on the economic recovery as more homeowners fall behind on their payments. Analysts expect improvement soon, but the number of homeowners in default or at risk of foreclosure will have a lingering effect on the broader economy. […]
thestatedtruth.com | May 19, 2010
We ain’t seen nothing yet. There’s an old story of a guy who, when asked how he went broke during the Great Depression, responded: ‘slowly; then all at once’. We’re in a new era; which while there will be snapbacks and melancholy attempts to restore the past excesses (whether consumerism or governmental spending levels); they […]
thestatedtruth.com | May 18, 2010
By Martin Z. Braun and William Selway May 18, 2010Â (Blomberg) — A telephone call between a financial adviser in Beverly Hills and a trader in New York was all it took to fleece taxpayers on a water-and-sewer financing deal in West Virginia. The secret conversation was part of a conspiracy stretching across the U.S. […]
thestatedtruth.com | May 18, 2010
By John Pomfret and Blaine Harden Washington Post Staff Writers Tuesday, May 18, 2010; 2:47 PM South Korea will formally blame North Korea on Thursday for launching a torpedo at one of its warships in March, causing an explosion that killed 46 sailors and heightened tensions in one of the world’s most perilous regions, U.S. […]
thestatedtruth.com | May 18, 2010
Heads up …………..Former House Speaker Newt Gingrich gives President Barack Obama only a 20 percent chance of being reelected and says he might be the one to give Obama the boot. Giving predictions for November’s midterms, Gingrich said House Republicans will pick up somewhere between 40 and 65 or 70 seats enough to gain control […]
thestatedtruth.com | May 17, 2010
05/17/2010Â The latest IRS Statistics Of Income Report is out. In it, the IRS focuses on the wealthy segment of US population, i.e., those falling over the proverbial $200,000/year cutoff. What the IRS finds, is that in 2007, of the 4,576,315 tax returns with expanded income of $200,000 or more, 13,142 (0.287%) had no US […]
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