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 […]
thestatedtruth.com | March 2, 2012
As of December, per SNAP (Supplemental Nutrition Assistance Program) this number just hit another record high of 46.5 million, an increase of 384,000 in one month, an increase of 2.4 million for the year 2011 (about as many as have dropped out of the Labor force, hmmmm), and 14.3 million since Obama took office. The food stamp program, […]
thestatedtruth.com | March 2, 2012
Here we go….it feels like we could be at the peak of the good feeling time for this economic rebound. Things are getting hot everywhere we look. People are feeling better and the talk is that things are headed back to the good old times, which many consider to be normal. But gasoline prices are sky high, and prices are rising on […]
thestatedtruth.com | March 1, 2012
The food stamp program, part of the Department of Agriculture, is pleased to be distributing the greatest amount of food stamps ever. Meanwhile, the Park Service, also part of the Department of Agriculture, asks us “Please Don’t Feed the Animals” because the animals may grow dependent and not learn to take care of themselves.
thestatedtruth.com | March 1, 2012
Housing Tid Bits….. The latest quarterly report out of CoreLogic is full of insights about the state of U.S. housing. Key among them is that “negative equity and near-negative equity mortgages accounted for 27.8 percent of all residential properties with a mortgage nationwide in the fourth quarter, up from 27.1 in the previous quarter. Nationally, the total […]
thestatedtruth.com | February 29, 2012
So, how do we do it…deleverage we mean? Uh, well, we need to spend less on cars and gas, and food, and housing and…healthcare, and buy less other things, and save more – oh, sorry about that last one, nothing left to save….. From Today’s Bloomberg Brief: The slow pace of deleveraging will continue to weigh on growth over […]
thestatedtruth.com | February 28, 2012
Here’s the scoop on gasoline (these charts go back to 1991)….prices are moving to the upside rapidly while demand is falling. Hmm Oh, and it’s official… gas prices have set an all time record for the month of February.
thestatedtruth.com | February 28, 2012
Bill Gross talking here…It’s the new normal, and a sign of the times as bank accounts and money market accounts basically yield nothing…and who gets the smelly end of the stick, yep… main street is the one taking it up the wazoo, yet again! Chart 1 shows that since 1981, which marks the beginning of the secular […]
thestatedtruth.com | February 28, 2012
There is no housing recovery as of yet….that according to Case Shiller. The Case Shiller housing index just showed a 8th consecutive month of home price declines. During this time we’ve had one of the most favorable winter buying periods ever, caused by favorable weather conditions accross the United States with one of the warmest winters on record (other then in Alaska). And let’s not forget the record low interest rates on mortgages. Anyone […]
thestatedtruth.com | February 24, 2012
Wow…every one’s celebrating like it’s 1999, but it isn’t…try 2012? And…we continue to see record lows of Completed Houses for sale. Anyone still want to celebrate about this? www.zerohedge.com
thestatedtruth.com | February 24, 2012
We wouldn’t call this a surprise. Judging from the waiting time at the local restaurants, people are in a spending mood….and to boot we see a lot more construction going on, especially in light of a huge commercial and housing overhang. Confidence among U.S. consumers rose in February as Americans continued more hopeful about economic growth. The Thomson Reuters/University […]
thestatedtruth.com | February 20, 2012
Moore’s law states that the number of transistors that can be placed on an integrated circuit doubles every 18 months to two years, and it’s predicted to reach its limit with existing technology in 2020. But…Cutting the size of a transistor to a single atom may change that concept. Then again, it’s going to take a while to get a quantum […]
thestatedtruth.com | February 18, 2012
A New House Cost $10,000 Average Annual Income $ 4,000 One Gallon Gas $ .22 Average New Car $ 1,700 Loaf Of Bread $ .16 First Class Stamp $ .03 Kodak Brownie Camera $ 13.00
thestatedtruth.com | February 16, 2012
It looks like we’ve seen the bounce in consumer net worth and now as we head back the other way, reality may set in! Or… maybe not, it being an election year and all. www.frontlinethoughts.com
thestatedtruth.com | February 16, 2012
In the new normal let’s review some definitions: (Discretionary spending is a spending category through which governments can spend through an appropriations act.) This spending is optional as part of fiscal policy, in contrast to entitlement programs for which funding is mandatory. As the Budget Control Act cuts discretionary spending to a 50-year low (close to only […]
thestatedtruth.com | February 15, 2012
So…. for Americans to get debt levels back to the happier times of 2002-03 levels, we’ll need about a 21% debt drop from the peak and a 17% drop from right where we are now. Back to 2000 will take longer. We’re talking many years for this to unwind. www.frontlinethoughts.com
thestatedtruth.com | February 13, 2012
Nobody on the planet is expecting GDP growth this high….2.7% never happens! You heard it first here. The smartest guys in the universe are much more conservative. From Bridgewater: Recent better-than-expected news on the U.S. economy is unlikely to be the start of a healthy expansion. The uptick in economic growth has been fueled by […]
thestatedtruth.com | February 10, 2012
Gasoline deliveries have in the past reflected recession or growth. If so, the recent drop in retail gasoline deliveries may signal a sharp economic contraction dead ahead. Or… a new normal because of rising fuel economy? Note that petroleum usage is back to 1997 level and gasoline usage is back to 2001 level. Moreover, two out of the last three weeks gasoline […]
thestatedtruth.com | February 10, 2012
So, Governor Brown, what happened to the big recovery you were expecting…and how about the giant consumer spending binge of the last two months fueled mostly on credit……just asking? This is a disaster to the state budget. Spending up as reflected in sales taxes, while income is down, relected in income taxes. California collected $528 million less in […]
thestatedtruth.com | February 10, 2012
Many parts of our economy now seem to be controlled (rigged) by the government. If housing would have been left alone, then things could have been cleaned up by now and a true bottom might have been reached, but instead this mess will drag on for years to come much like Japans nightmare! Federal Reserve Chairman Ben S. Bernanke said the […]
thestatedtruth.com | February 8, 2012
Student debt is rising to records with almost every government consumer report, and for a mulitude of reasons. They include steadily spiraling college costs, financial aid cutbacks at public universities and a weak economy to name a few. And schools across the country are encouraging it because they need the money, most having expanded rapidly in the past few years to accommodate growing but seemingly unsustainable enrollments(let’s […]
thestatedtruth.com | February 7, 2012
Bank of America Plaza, the tallest tower in the U.S. Southeast, was sold at a public auction today on the steps of the Fulton County Courthouse after landlord BentleyForbes missed its mortgage payments. It was purchased for $436 million back in 2006, but off she goes for $235 million here in 2012. The noteholder had a winning bid […]
thestatedtruth.com | February 7, 2012
Alaska produces about 10% of the oil in the U.S. But one look at this chart will explain where we’ve been and where we’re going… in Alaska!
thestatedtruth.com | February 7, 2012
So…the consumer confidence level is soaring right along with the consumer debt, and the savings rate is plunging. Now we understand why the Federal reserve has been so worried lately. The worry is that this consumer spending binge is totally unsustainable and likely to burn out soon! A report from the Labor Department today also showed there […]
thestatedtruth.com | February 3, 2012
Here is the latest from John Williams – Basic Economic Outlook Unaltered by Stronger Labor Data – January Jobs Reading Still at Levels of 11 Years Ago – January Unemployment: 8.3% (U.3), 15.1% (U.6), 22.5% (SGS) – Money Supply M3 Growth Is Picking Up www.shadowstats.com
thestatedtruth.com | February 3, 2012
A Novel Idea….Let’s Call It…. The Congressional Common Sense Act of 2012 1. No Tenure / No Pension. A Congressman/woman collects a salary while in office and receives no pay when they’re out of office. 2. Congress (past, present & future) participates in Social Security. All funds in the Congressional retirement fund move to the Social Security system immediately. All […]
thestatedtruth.com | February 3, 2012
The devil’s in the details, read it and weep! Non Farm Payrolls Soar By 243K, Unemployment Rate Drops To 8.3% Whopper of a NFP (non farm payroll) number, which prints at 243K, higher than the biggest forecast of 225K, on consensus expectations of 140K, the biggest jump since February 2009. But the devil’s in the […]
thestatedtruth.com | January 31, 2012
Looks like we have slow learners here, folks…..$100 billion in write downs, give me a break! Shipping Loans Now Go Bad For European Banks With China rolling over, the large ship containers are increasingly lined up and stacked in Asian harbors around the world. The IHT is out quoting industry observers stating that European banks may be […]
thestatedtruth.com | January 31, 2012
We ask Governor Brown of California, what happened to those Rosie optimistic solutions and improving tax receipts that you talked about not to long ago? Looks like we have the same skid marks on the road as last year…Can’t anybody come up with a conservative assumption going forward. Oh ya, that’s right… you were thinking that residents will vote for a tax […]
thestatedtruth.com | January 31, 2012
Oh well…the Fed said recently… they worried that much of the recent spending uptick was coming from savings and inventory build up, and it was unlikely to last much longer without an improving fundamental environment! The gradual re-softening of the economy is starting to materialize. The January Chicago PMI just printed at 60.2, missing expectations of an increase […]
thestatedtruth.com | January 31, 2012
More of the same…as personal income falls or flat lines, real estate will continue on a slippery slop. With record low interest rates, people, unlike in past recessions, still carry near record high amounts of debt. It is not indicative of a housing rebound. De-leveraging will continue to be a rage, unbeknown and not understood by most. The November […]
thestatedtruth.com | January 30, 2012
It’s all about demographics my dear Watson…Japan’s population of 128 million will shrink by one-third and seniors will account for 40 percent of it’s people by 2060. And NO, we didn’t make this stuff up, it came from Japan’s Health and Welfare Ministry! From AP: Japan’s population of 128 million will shrink by one-third and seniors […]
thestatedtruth.com | January 30, 2012
From ZeroHedge….. We already know that Israel is on edge……the fuse may be looking for a match like a bug looking for a windshield! Here’s a following of US naval developments and deployments in the Arabian Sea, which serve one purpose and one purpose only – to demonstrate US military strength in the Straits […]
thestatedtruth.com | January 28, 2012
According to Freddie Mac, while the value of all housing is down 30%, and home equity is down 55%, we see that mortgage debt owed is only down a minestrone 3%. Bottom line, the U.S. housing market is back to the Armageddon high debt-to-equity ratio that was only ever seen during the Q1 2009 economic wipe out, and even worse, we […]
thestatedtruth.com | January 27, 2012
Yep, that’s right, if you are a responsible paying citizen you get nothing, but as the The Three Stooges would say, a poke in the eye….we know, yes there are families that really need the help for legitimate reasons, but much of this involves a reward for greed, and irresponsible actions. Oh, how times have changed! The HAMP expansion, called HAMP […]
thestatedtruth.com | January 27, 2012
There has been an abundance of confidence in our system lately, so much so that an abnormal amount of spending has been come from savings, but history shows this often leads to disappointment. This will likely be reflected going forward in the first quarter or half of 2012….. Goldman On GDP: Warns Of Q1 Weakness The change in real private inventories added […]
thestatedtruth.com | January 26, 2012
Negative demographics as far as the eye can see. and it’s reflected in the median price for new homes, which just dropped from $215,700 to $210,300. According to the Census Bureau (not NAR data), December New Home Sales declined from 321K to a seasonally adjusted annualized rate of 307K in December, on expectations of a rise to […]
thestatedtruth.com | January 25, 2012
Bill Gross of PIMCO explains Fed decision on Tweeter www.zerohedge.com
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