thestatedtruth.com | June 26, 2012
Ray Dalio: Don’t Assume That Germany Will Bail Europe Out; Consider The “Fat Tail” A Significant Possibility…….Dalio’s Bridgwater is one of the highest rated hedge funds anywhere, so naturally we highly value their opinion! From Bridgewater’s Daily Observations: Be Careful When Betting Against Human Nature Alliances are shifting in a logical manner. The German-French alliance is breaking down […]
thestatedtruth.com | June 24, 2012
At least somebody has this figured out! Ministry of [Un]Truth By Eric Sprott & David Baker Speaking at a Brussels conference back in April 2011, Eurogroup President Jean Claude Juncker notably stated during a panel discussion that “when it becomes serious, you have to lie.” He was referring to situations where the act of “pre-indicating” […]
thestatedtruth.com | June 11, 2012
Fed Says U.S. Wealth Fell 38.8% in 2007-2010 because of Housing….Duh! The financial crisis wiped out 18 years of gains for the median U.S. household net worth, with a 38.8 percent plunge from 2007 to 2010 that was led by the collapse in home prices, a Federal Reserve study showed. Median net worth declined to $77,300 in […]
thestatedtruth.com | June 7, 2012
It sounds like things are really rolling, but are they really? Since reaching a five-year low of $51.3 trillion in the first quarter of 2009, net worth has improved by $11.6 trillion. That leaves it $4.6 trillion below the record high of $67.5 trillion reached in the quarter ended September 2007, three months before the […]
thestatedtruth.com | May 30, 2012
Gasoline prices are falling in most areas…but not much in California! It’s only a matter of time though, as the average age of a car is now 10.75 years old and virtually every old car that is taken off the road gets low gas mileage vs a new one that gets dynamically better gas mileage…it’s a no-brainer! Brent oil declined to its […]
thestatedtruth.com | May 27, 2012
Bruce Krasting The real estate crisis has crushed many Americans, but not the farmers. Arable land is at the highest value in history. Prices were up 20% in both 2010 and 2012. In the past ten-years, farm land values have more than doubled. www.zerohedge.com
thestatedtruth.com | May 23, 2012
Warning from the Congressional Budget Office…don’t raise taxes! The Congressional Budget Office warned that the country could be thrown into a recession if Congress tries to reduce the nation’s deficit quickly with a combination of budget cuts and higher taxes scheduled to take place at the end of the year. The nonpartisan budget office laid […]
thestatedtruth.com | May 12, 2012
So, Governor Brown, do you still expect to see Californians vote themselves a tax increase….get real. California’s projected budget deficit has ballooned to $16 billion from the $9.2 billion estimated in January, according to California Governor Jerry Brown, and he warned of more painful spending cuts dead ahead. “We will have to go much further, and make […]
thestatedtruth.com | May 7, 2012
Yikes….inquiring minds wonder how much more student loan debt these college kids can rack up…hum, this really is an unending spiral! U.S. consumer credit soared by $21.4 billion in March on expectations of $9.8 billion rise, or the fastest monthly expansion since March 2001. Of the toatal, a modest $5.1 billion was from real credit, or revolving style credit-card […]
thestatedtruth.com | May 5, 2012
There she goes….the penny is dead in Canada. So, now the old saying of “a penny for your thoughts”, will be…”a nickel for your thoughts”! Canada minted its final penny today as Finance Minister Jim Flaherty said the coin was too expensive to produce and no longer needed for business. “The real issue was that people […]
thestatedtruth.com | April 30, 2012
And it’s likely to go even lower over the next few years! The ownership rate may drop below 64 percent by the end of 2015 and stay there for years, said Scott Simon, the mortgage bond head of Pacific Investment Management Co. “It will be lower by 2017,” and “It will be lower in 2020.” The […]
thestatedtruth.com | April 30, 2012
To soon to tell, but we’ll leave a light on…just in case! From Bloomberg: Business activity in the U.S. expanded in April at the slowest pace since November 2009, a sign that manufacturing may be cooling as business investment eases. The Institute for Supply Management-Chicago Inc. said today its barometer decreased to 56.2 during the […]
thestatedtruth.com | April 29, 2012
Message to students…Hello down there, hang on and don’t worry about a thing… we’re here to help! Not! There was a big fight in D.C. this past week over student loans. by Bruce Krasting The issue is a scheduled increase in interest on new student loans from 3.4% to 6.4% set for July 1. Clearly this […]
thestatedtruth.com | April 27, 2012
Why are we not surprised? Maybe because the government sponsored mortgages only require less then 3% down! Hmm. From (Reuters) ….. More than 1 million Americans who have taken out mortgages in the past two years now owe more on their loans than their homes are worth, and Federal Housing Administration loans that require only a […]
thestatedtruth.com | April 23, 2012
So, the revenue grows but the ship still sinks….Inquiring minds want to know how it can be fixed? In Illinois, the backlog of unpaid bills has risen to more than $9 billion because of pension costs and falling federal aid, leaving the state “essentially treading water,” Comptroller Judy Baar Topinka said. While revenue grew from higher […]
thestatedtruth.com | April 17, 2012
thestatedtruth.com | April 17, 2012
Out of the 143 million tax returns that were filed with the IRS in 2010, 58 million or 41 percent of those filers were non-payers. Hmm…. Americans making over $50,000 paid the majority of the federal taxes that were paid in the U.S. in 2010. According to statistics compiled from the Internal Revenue Service (IRS) by […]
thestatedtruth.com | April 11, 2012
thestatedtruth.com | April 10, 2012
So…the real question is how do we fix this? As an example, Safeway faces shortfalls larger than its entire market cap, and they’re not alone in this mess. The latest data, from 2009, from the PBGC showed that these multi-employer plans were 48% underfunded with $331bn of assets to support $686bn of liabilities – and it […]
thestatedtruth.com | April 10, 2012
Oil refineries are closing all accross the United States with nearly half the refining capacity on the U.S. east coast set to disappear …so of course it’s no wonder gasoline prices are pushing all time record prices. Chart Courtesy Inteldaily.com (Added by EconMatters) We now have half the refining capacity on the U.S. east coast set to […]
thestatedtruth.com | April 6, 2012
The unemployment rate drops to 8.2% for one simple reason: the number of people not in the labor force is back to all time highs: 87,897,000. www.zerohedge.com
thestatedtruth.com | April 5, 2012
Fortune broke an interesting story on a private lunch that Bernanke had with some key bankers. FORTUNE — After completing a series of public lectures in Washington, D.C. last week, Federal Reserve Chairman Ben Bernanke quietly slipped into New York City for a private luncheon on Friday with Wall Street executives. Fortune has learned […]
thestatedtruth.com | April 2, 2012
Foodstamp usage for January is virtually unchanged at 46.5 million recipients. The actual number of recipients declined by a whisper, while the number of households receiving some sort of benefit increased to a new record of 22.2 million. www.zerohedge.com
thestatedtruth.com | March 30, 2012
So, this is how things looked at the top of the real estate and stock market….how do you think they look now? We’re thinking not any better for the average person.
thestatedtruth.com | March 25, 2012
What Have We Learned… in 2,067 Years? Umm…..Evidently Nothing! “The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living […]
thestatedtruth.com | March 22, 2012
The climb of student loan debt is simply unbelievable in the economic picture of things……it truely is the gift that keeps on taking! U.S. student-loan debt reached the $1 trillion mark, as young borrowers struggle to keep up with soaring tuition costs, according to the initial findings of a government study. The figure, which is higher […]
thestatedtruth.com | March 21, 2012
Not so good for mortgages…the Average 30 year fixed rate soared to 4.19% from 4.06% last week, while the refi percent of loans dropped to 73.4% – the lowest since July 2011. The latest MBA Mortgage Application data was just released and it was ugly. The broad Mortgage Application index fell by 7.4% in the week ending March […]
thestatedtruth.com | March 20, 2012
From the floor of The New York Stock Exchange, Art Cashin asks, who got the new jobs? The King Report’s assertion is that without seasonal adjustment, 2012 payroll numbers have actually fallen 1.8 million jobs instead of a gain as the government says (based on seasonal adjustments)…this is stunning. And, making matters even worse, the Weekly Leading Indicator is now […]
thestatedtruth.com | March 19, 2012
We want the red line to be below the black one…or we’re in trouble. But as everyone can see, the red line looks like a bean stalk and is growing to the sky!
thestatedtruth.com | March 19, 2012
Spend, spend spend…… The Federal Reserve Flow of Funds Report, issued two weeks ago, reveals the extent of the average mans plight : Forty percent of all credit card users do not pay-off their credit card every month and carry an average balance of $16,000 at an average interest rate of 15%. Total U.S. credit market […]
thestatedtruth.com | March 18, 2012
Just a friendly reminder…Greece continued to say everything was fine, they said it over and over… until one day not so long later, they admited that it wasn’t. The next thing you know Greek riots break out because Greece is forced to go on a hard austerity plan. Now we see Portugal in the same sinking boat. We’ve been warned. The head and co founder […]
thestatedtruth.com | March 12, 2012
U.S. Budget Deficits – A picture is worth um, $580 billion, here’s why… in the first 5 months of the fiscal year, the U.S. has racked up $580 billion in deficits,
thestatedtruth.com | March 12, 2012
We’re on the right track….but have a long way to go. U.S. crude oil production came in at 5.6 million barrels a day for 2011 vs. 5.48 million barrels a day in 2010. It’s the highest U.S. oil production since 2003. And… The U.S. has been the world’s largest producer of natural gas since 2009, the report says. […]
thestatedtruth.com | March 10, 2012
Stress and fear in the system is receding….for the time being. www.ingerletter.com
thestatedtruth.com | March 7, 2012
They got to be kidding….nope, consumer credit rose $17.8 billion in the latest monthly data, on expectations of $10.5 while non-revolving credit, i.e., auto and mostly student debt rose $20.723 billion and had the highest sequential jump in this category ever! Yes EVER! At the same time…after tax incomes fell for the second time in three months after adjustments, according […]
thestatedtruth.com | March 6, 2012
Bonus time…or maybe not! Bankers and Wall Street listen up…The O in cheerios stands for zero bonus! Capice! www.zerohedge.com
thestatedtruth.com | March 5, 2012
Bad seats, hey buddy……especially if you have a student loan! We have said repeatedly that this was going to happen, and rest assured we feel it will get worse. Lots worse! 10 percent of the outstanding loan balance shows delinquent in the third quarter of 2011, and as many as 47 percent of student-loan borrowers “appear to be […]
thestatedtruth.com | March 3, 2012
Here we are with bad demographics again, add to that another broke social security system, and guess what island are we standing on. Yep, it’s Japan! Now the Japanese government has had an epiphany, and all of a sudden seeks to save a broken down social security system, and “rein in soaring welfare costs”. Question: But uh, isn’t that a problem worldwide? Yes it is. So […]
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