thestatedtruth.com | July 28, 2009
U.S. Assures a ‘Concerned’ China It Will Shrink Record Deficit By Rob Delaney and Rebecca Christie July 27 (Bloomberg) — The Obama administration’s economic leaders assured Chinese counterparts they will rein in a record budget deficit as China underscored its concern about preserving the value of its holdings of Treasuries. “China has a huge amount […]
thestatedtruth.com | July 27, 2009
President Obama’s popularity continues to fade, as he had two bad days in the polls. According to the Rasmussen Reports.com daily poll, the number of those who disapprove of the president’s performance is now 51%. Here are some details: “The Rasmussen Reports daily Presidential Tracking Poll for Saturday shows that 30% of the nation’s voters […]
thestatedtruth.com | July 25, 2009
This is an astonishing datapoint: “There were 18.7 million vacant homes in the U.S. during the second quarter as the steepest recession in 50 years sapped demand for real estate and banks seized properties from delinquent borrowers. The number of vacant properties, including foreclosures, residences for sale and vacation homes, was little changed from 18.6 […]
thestatedtruth.com | July 25, 2009
At one point, housing construction was over 5% of GDP. Now it is around 2.5%. The graph shows how much a shrinking home-construction industry has reduced GDP each quarter for the last two years.
thestatedtruth.com | July 25, 2009
A few side observations on the above graph. China is roughly as big as the other three of the BRICs (Brazil, Russia, and India) combined. Russia and Brazil are in recessions. Also, note that it will be decades before China’s economy is as big as that of the US, even with growth of 5-6% a […]
thestatedtruth.com | July 25, 2009
State Tax Revenues Across U.S. Experience Largest Decline on Record, New Rockefeller Institute Report Shows “Taxes collected by the 50 states dropped by 11.7 percent overall during the first quarter of 2009, compared to the same period a year earlier – the largest such decline in the 46 years for which quarterly data are available, […]
thestatedtruth.com | July 23, 2009
Through March of 2009, banks had taken only $1.1 trillion in write- downs to date. Even the most conservative estimates put total credit losses at $2.2 trillion. Tilson and Tongue make a convincing case that the losses will be far worse than that – more like $3.8 trillion. And these numbers have only grown over time. […]
thestatedtruth.com | July 21, 2009
Why Gold Should Anchor a Portfolio By: Rick Ackerman  Rick’s Picks Tuesday, July 21, 2009 (Following is the fourth in a series of articles on gold by Chuck Cohen, a financial consultant and lifelong resident of New York City.) Recently I discussed some of the reasons investors often fall short. Today I want to […]
thestatedtruth.com | July 21, 2009
Details of agreement to close California deficit  Gov. Arnold Schwarzenegger and legislative leaders from both parties reached a tentative deal to address California’s $26.3 billion budget deficit. The plan still must get a two-thirds vote in the Assembly and Senate. It includes about $15 billion in cuts, as well as borrowing from local governments […]
thestatedtruth.com | July 21, 2009
Americans Repaying Debt Most Since 1952 By Caroline Salas and Michael McKee July 21 (Bloomberg) — For the first time since Harry S. Truman was in the White House, Americans are paying back their debts, a phenomenon that just might help keep interest rates low as the Treasury sells a record $2 trillion of bonds […]
thestatedtruth.com | July 20, 2009
Bureaucracy, Taxpayers Headed for a Collision By: Rick Ackerman, Rick’s Picks  Posted Monday, 20 July 2009 Rick’s Picks Monday, July 20, 2009 “Phenomenally accurate forecasts†The headline atop the front page of this morning’s Boulder Camera suggests a city struggling diligently to balance its budget: “Work-Week Options Eyedâ€. Reading this, one might infer that the […]
thestatedtruth.com | July 20, 2009
U.S. Rescue May Reach $23.7 Trillion, Barofsky Says By Dawn Kopecki and Catherine Dodge July 20 (Bloomberg) — U.S. taxpayers may be on the hook for as much as $23.7 trillion to bolster the economy and bail out financial companies, said Neil Barofsky, special inspector general for the Treasury’s Troubled Asset Relief Program. The Treasury’s […]
thestatedtruth.com | July 18, 2009
Thoughts from the Frontline Weekly Newsletter Europe on the Brink by John Mauldin July 17, 2009 Â Â In this issue: Europe on the Brink And Then There Was Leverage Too Big To Save Those Wild and Crazy Swiss A Positive Third Quarter? We have avoided Armageddon, at least for now. The cost to the US […]
thestatedtruth.com | July 17, 2009
 Huge Rally? Don’t Laugh……..By: Rick Ackerman, Rick’s Picks   Rick’s Picks Friday, July 17, 2009 “Phenomenally accurate forecastsâ€Â  Just because there are a dozen great reasons to hate stocks right now doesn’t necessarily mean they can’t go much higher. Not only that, the bear rally could continue for quite a while – till 2011 […]
thestatedtruth.com | July 16, 2009
thestatedtruth.com | July 16, 2009
thestatedtruth.com | July 16, 2009
thestatedtruth.com | July 13, 2009
thestatedtruth.com | July 13, 2009
thestatedtruth.com | July 12, 2009
A study finds that 26% of the defaults across the country are calculated economic decisions to bail out of loans by borrowers who could afford to make the monthly payments. By Kenneth R. Harney July 12, 2009 Reporting from Washington — Would you, under any circumstances, default on your home mortgage, even if you could […]
thestatedtruth.com | July 11, 2009
thestatedtruth.com | July 11, 2009
thestatedtruth.com | July 7, 2009
Inflation, Sentiment and the Kress Cycles July 7, 2009 Despite a 40% market recovery and an abatement of the credit crisis, a climate of high fear abounds among market participants. Investor sentiment polls continue to show an excess of bears over bulls as few believe that a recovery can be sustained. If anything, fear has been […]
thestatedtruth.com | June 14, 2009
1. Americans spend $36,000,000 at Wal-Mart every hour of every day.  2. This works out to $20,928 profit every minute!  3. Wal-Mart will sell more from January 1 to St.Patrick’s Day (March 17th) than Target sells all year.  4. Wal-Mart is bigger than Home Depot + Kroger + Target + Sears + Costco + […]
thestatedtruth.com | June 2, 2009
Schwarzenegger says day of reckoning is here Sacramento Business Journal – by Kathy Robertson Staff writer The state wallet is empty. The bank closed. Credit has dried up, Gov. Arnold Schwarzenegger told lawmakers in a special Tuesday morning address at the Capitol. “California’s day of reckoning is here,†he said. With no action, the state […]
thestatedtruth.com | June 1, 2009
                                       Chart Courteously Of www.AgoraFinancial.com
thestatedtruth.com | May 4, 2009
Hmm……….Anyone ever wonder if those masks really worked back in 1918? -TheStatedTruth.com Policemen in Seattle wearing masks made by the Red Cross, during the influenza epidemic, December 1918.
thestatedtruth.com | May 2, 2009
Sometimes a picture is worth a trillion words or a trillion dollars as the case may be……… -TheStatedTruth.com
thestatedtruth.com | May 2, 2009
 Hmm………Anybody out there see a rebound in these numbers. The answer is no. Now at some point we will start to stabilize. We could be seeing the beginning of that now, and that’s what everyone needs to look at in my opinion, but it’s still to soon to make that assumption.  Warren Buffett said today at the Bershire AnnualShareholders Meeting that the recent […]
thestatedtruth.com | May 2, 2009
Well,  this rapid contraction won’t last for ever……………We should start to see low inventories help lead the economy to a tepid recovery in the second half of 2009 or early 2010. From Bloomberg……..The U.S. economy plunged again in the first quarter, capping its worst performance in five decades, reflecting a record slump in inventories and further […]
thestatedtruth.com | April 4, 2009
This is a big deal………..and interestingly enough,  it looks like a new car purchase IRS tax deduction is being set up……..Plan Would Separate ‘Bad’ and ‘Good’ Assets of Two Companies; Historic Intervention Carries Big Political Risk for Obama………. President Obama, who announced the plans Monday with Treasury Secretary Geithner, said the U.S. would not let the auto industry “simply […]
thestatedtruth.com | April 2, 2009
Things continue to fall apart…………Home Prices in 20 U.S. Cities Fell by a Record 19% in January ……… The S&P/Case-Shiller index‘s decrease was more than forecast and compares with an 18.6 percent decrease in December. The gauge has fallen every month since January 2007, and year- over-year records began in 2001.  Downward Path….All 20 cities in the index […]
thestatedtruth.com | March 31, 2009
Meredith Whitney has it figured out. She has been way ahead of everybody else on banking. She is now in the process of opening her own investment firm…………………..The big-bank model isn’t going to last much longer, banking industry analyst Meredith Whitney said at the Journal’s Future of Finance Initiative, and said a more sustainable approach would be bigger regional […]
thestatedtruth.com | March 31, 2009
I hope not……………sounds very inflationary to say the least!      President Barack Obama‘s budget would generate unsustainably large deficits averaging almost $1 trillion a year over the next decade, according to the latest congressional estimates, significantly worse than predicted by the White House just last month. The Congressional Budget Officefigures, obtained by The Associated Press Friday, predict Obama’s budget will produce $9.3 […]
thestatedtruth.com | March 31, 2009
It looks like the Credit Unions may be next to get into hot water…………………..funny thing is they all say everything is just fine, until it isn’t.       In the latest move by federal authorities to prop up the nation’s banking system, regulators late Friday seized control of the two largest wholesale credit unions in the U.S. […]
thestatedtruth.com | March 31, 2009
Not surprising to say the least……………………………The number of probes by the Federal Bureau of Investigation into corporate fraud and mortgage fraud is growing by the month.FBI Deputy Director John Pistole told a House panel Friday that the bureau has more than 2,000 open investigations into mortgage fraud as well as 566 corporate-fraud investigations.Mr. Pistole said 43 of those corporate-fraud […]
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