thestatedtruth.com | December 2, 2010
This was a no brainer……from the ECB (European Central Bank) The ECB has abandoned its plans to wind down emergency support for banks and government debt markets.  The ECB will continue to offer unlimited liquidity to banks for as long as necessary, ECB President Jean-Claude Trichet said at a news conference in Frankfurt Thursday. It had […]
thestatedtruth.com | December 2, 2010
Attacks on Nuclear Scientists in Tehran December 1, 2010 By Ben West On the morning of Nov. 29, two Iranian scientists involved in Iran’s nuclear development program were attacked. One was killed, and the other was injured. According to Iranian media, the deceased, Dr. Majid Shahriari, was heading the team responsible for developing the technology […]
thestatedtruth.com | December 2, 2010
The other shoe is dropping in real estate. The banks have a lot of inventory to sell, so this will take a while! Sales of existing homes, which make up more than 90 percent of the market, declined more than forecast in October amid the foreclosure moratoriums and the absence of the tax credit of as […]
thestatedtruth.com | December 1, 2010
No wonder the fed didn’t want this material released………Geez, they really did save the World financial system between October 27, 2008 and August 6, 2009! One may be forgiven to believe that via its FX liquidity swap lines the Fed only bailed out foreign Central Banks, which in turn took the money and funded their own […]
thestatedtruth.com | December 1, 2010
This excerpt from Art Cashin on the floor of The New York Stock Exchange Cyber Warfare – Maybe because of the apparent success of the Stuxnet virus on the Iranian nuclear efforts, there has been a lot of floor chatter about the new age of cyber warfare. The chatter got a lot more active with the […]
thestatedtruth.com | December 1, 2010
We’re not a believer in journalism at the expense of government or state secrets…..especially when it puts innocent lives at risk. Wikileaks should rethink their model.  Wikileaks says it has switched its DNS to Sweden, from where it continues operating. Wikileaks tweeted the following response about Amazon’s action shutting down its website: “WikiLeaks servers at Amazon ousted. Free speech the […]
thestatedtruth.com | December 1, 2010
Under orders from Congress pursuant to the Dodd-Frank financial legislation, the Fed has finally released details of its emergency lending starting in 2007. Huffington Post is providing an excellent live-blogging round up as new discoveries are made from the Fed’s data release. Here are some of the more interesting insights: Mutual funds, hedge funds and […]
thestatedtruth.com | December 1, 2010
Yes, you are wondering how this is possible while the market is going up? The logical answer is the powers to be (government) have total control of things for now….but if something should happen to change that (and it will), run baby run! ICI reports for the week ending November 24, we had $2.6 billion in outflows from […]
thestatedtruth.com | December 1, 2010
This shouldn’t be surprising…….what did he (Julian Assange) think would happen? From Reuters: “Amazon.com ceases hosting services for WikiLeaks website – Senator Lieberman” and “DHS says Amazon has agreed to stop hosting WikiLeaks.” Game Over…..Julian Assange looks like a hot potato.
thestatedtruth.com | December 1, 2010
David Kotok does a good job of explaining things about this complex problem in Europe. Cumberland Advisors European Contagion December 1, 2010 First an update. We are scheduled to guest-host CNBC Worldwide Exchange from the London Studio on Friday, December 10. US viewers may see it at 5 AM New York time. We may start […]
thestatedtruth.com | November 30, 2010
Buy back mortgage contracts are getting interesting. It looks like a cat fight just starting…… You don’t think the banksters want to own that crap they sold to Fannie and Freddie do you? They thought it was a free ride. But now it doesn’t look so free……The expected amount so far refused exceedes $120 billion. This […]
thestatedtruth.com | November 29, 2010
It looks like the republican tea party is having an effect of President Obama, but let’s not forget that this pay freeze comes at all time record high pay levels for government workers.  It looks like the can gets kicked down the road a while, then we’ll start to see pay CUTS! By PETER BAKER Published: November 29, […]
thestatedtruth.com | November 25, 2010
From Bloomberg News By Zoltan Simon Nov 25, 2010 Hungary is giving its citizens an ultimatum: move your private-pension fund assets to the state or lose your state pension. Economy Minister Gyorgy Matolcsy announced the policy yesterday, escalating a government drive to bring 3 trillion forint ($14.6 billion) of privately managed pension assets under state […]
thestatedtruth.com | November 25, 2010
www.ingerletter.com This has been ignored in the press. So why is this a big deal? Well, because there are more dollars outstanding abroad then in the United States, and we’re really just beginning to see this kind of dollar mischief. But trust the world, there will be more. China, Russia Quit Dollar By Su Qiang and Li Xiaokun (China […]
thestatedtruth.com | November 25, 2010
Germany just said “No” Thought this was a shoe in but…… BERLIN—The European Commission floated a proposal Wednesday to double the size of Europe’s €440 billion bailout fund for indebted euro-zone countries, but the idea was quickly dismissed by Germany, according to people familiar with the situation. The apparent disagreement between Brussels and Berlin comes […]
thestatedtruth.com | November 16, 2010
It looks like the day of reckoning is close at hand for state governments. Illinois faces a deficit for the fiscal year beginning July 1, 2011, that could reach $15 billion—more than half the state’s general-fund budget. California faces a deficit next year of $25.4 billion, twice the size of previous forecasts and California Gov. […]
thestatedtruth.com | November 15, 2010
Write your congressman about this! On second thought maybe not, they’re in on this whole ruse. Yes, it is a ruse! Since 2000, federal pay and benefits have increased 3% annually above inflation compared with 0.8% for private workers, according to the Bureau of Economic Analysis. Members of Congress earn $174,000, up from $141,300 in 2000. […]
thestatedtruth.com | November 15, 2010
The rate will tell the story. If the rate is reasonable then it is illogical. If it is illogical then QE (Quantitative Easing) has started to bail out states.           Jim Sinclair This two-part sale of so-called revenue anticipation notes (Rans) allows California to bridge the gap to its tax season in the spring…… Hopefully!  Notice […]
thestatedtruth.com | November 15, 2010
Europe Stumbles Blindly Towards Its 1931 Moment By Ambrose Evans-Pritchard Nov 15, 2010 Unless the ECB takes fast and dramatic action, it risks destroying the currency it is paid to manage, and allowing a political catastrophe to unfold in Europe. If mishandled, Ireland could all too easily become a sovereign version of Credit Anstalt – […]
thestatedtruth.com | November 14, 2010
thestatedtruth.com | November 14, 2010
thestatedtruth.com | November 13, 2010
John Mauldin says…….”If the Bush tax cuts are not extended, in my opinion it is almost a lock that we go into recession next year, unemployment goes to 12%, and underemployment gets even worse”. The only real way to pay for all these benefits will ultimately be a value-added tax, or VAT.    A VAT looks […]
thestatedtruth.com | November 13, 2010
It’s the rainy season in California…..Schwarzenegger Declares Emergency, Calls Special Budget Session November 12, 2010 By Michael B. Marois Nov. 12 (Bloomberg) — California Governor Arnold Schwarzenegger, citing a $25.4 billion budget gap over the next 19 months, declared a fiscal emergency and called lawmakers to a special session next month to begin dealing with […]
thestatedtruth.com | November 12, 2010
This is called kicking the can down the road!   “You can tell from the FSB statements that there’s been a huge amount of controversy,†said Barbara Matthews,  managing director of BCM International Regulatory Analytics LLC in Washington. “Some of these issues have been on the international agenda for decades, and still there’s no end in sight […]
thestatedtruth.com | November 10, 2010
A presidential commission’s leaders proposed a $3.8 trillion deficit-cutting plan that would trim Social Security and Medicare, reduce income-tax rates and eliminate tax breaks including the mortgage-interest deduction. November 10, 2010 Bloomberg Wiping out all tax breaks, including the home mortgage deduction, while lowering tax rates would save $100 billion a year according to Erskine Bowles, co-chairman […]
thestatedtruth.com | November 10, 2010
A major point in the long weather cycle occurs in 2011…….Demand is soaring and crop yields are shrinking. This alone will send agricultural prices higher. Now add aggressive currency devaluation into the mix and we can better understand the direction of capital flows. The phrase budget pain will soon redefine the grocery checkout experience. From the FT: (FT) — The spectre […]
thestatedtruth.com | November 8, 2010
Germany:  U.S. debt and interest policy generally “doesn’t add up” and the U.S. model is in “deep crisisâ€. . Hmm, so what happens if this U.S. policy fails…….inquiring minds want to know?    German Finance Minister, Wolfgang Schuble, offered some withering criticism of the Fed’s move and U.S. economics. Here’s a bit from the […]
thestatedtruth.com | November 8, 2010
Oil Slickonomics-Part 13-Idle Iron November 8, 2010 In our recent comment entitled Oil Slickonomics Part 12 we discussed how the federal government is implementing a policy that functions as a de facto moratorium, even though the Obama administration has formally lifted the de jure oil drilling moratorium. We appreciate the readers who responded, and we […]
thestatedtruth.com | November 8, 2010
To get a visual idea of the complexity surrounding the new health-care requirements, you can peruse the following chart prepared by the Joint Economic Congressional Committee, which outlines the bureaucratic Frankenstein that is being created. I’m printing the chart in a size that is too small to read here, just to give you the idea. […]
thestatedtruth.com | November 6, 2010
Here are some shocking numbers…..Personal incomes are not going up. In fact, the income data is downright scary for the U.S.   The largest group of wage earners – a massive 24 million or 16% of the total wage group  – made between 1 red cent and $4,999.99. On average they earned $2,016.  The average wage for […]
thestatedtruth.com | November 6, 2010
MOUNT MERAPI, Indonesia…….A surge of searing gas raced down the sides of Mount Merapi at highway speeds Friday, setting houses and trees ablaze and blackening the bodies of those caught in its path. Merapi’s latest round of eruptions began on Oct. 26, followed by more than a dozen other powerful blasts and thousands of tremors, and […]
thestatedtruth.com | November 3, 2010
Given the high market expectations, the US Federal Reserve had no choice but to announce a second tranche of quantitative easing, nicknamed QE2. But the measure is an inevitably blunt instrument for the difficult task of restoring growth and generating jobs. The benefits accruing to America come with burdens for other countries, and both could […]
thestatedtruth.com | November 2, 2010
Iceland’s volcano gods may be about to make the holiday travel season very challenging. The newest action takes us to the heretofore unknown Grimsvotn. AP reports “torrents of water are pouring from a glacier that sits atop Iceland’s most active volcano, an indication that the mountain is growing hotter and may be about to erupt, scientists said […]
thestatedtruth.com | October 31, 2010
thestatedtruth.com | October 29, 2010
thestatedtruth.com | October 28, 2010
By Jack Doyle October 28, 2010 Mohammed has become the most popular name for newborn boys in Britain. It shot up from third the previous year, overtaking Jack, which had topped the list for the past 14 years but was relegated to third spot. Olivia topped the list for little girls for the second year in […]
thestatedtruth.com | October 28, 2010
So….The real question is how did personal liability mortgages ever become so common in Europe? Why would anyone ever buy a house under such strenuous terms? Inquiring minds want to know! By SUZANNE DALEY Published: October 27, 2010 MADRID — Manolo Marbán, 59, is still living in his house in Toledo and going to work in […]
thestatedtruth.com | October 27, 2010
The BBC reports:Â Â “the minority government of Portugal has failed to gain opposition support for its proposed austerity budget. A failure to pass the budget could plunge the country back into the debt crisis it had seemingly escaped since the summer.” And this: “Prime Minister Jose Socrates threatened to quit if the budget fails, while the […]
thestatedtruth.com | October 21, 2010
These two giant white elephants funded more than 62 percent of new mortgages in the first half of this year, according to Inside Mortgage Finance, a trade publication in Bethesda, Maryland. It would seem that they some how managed to  loose money on every mortgage funded! Fannie Mae and Freddie Mac the mortgage-finance companies operating under […]
thestatedtruth.com | October 21, 2010
French unions to the government….you can’t do this to us or it will end an entire network of welfare benefits that make France an enviable place to work and live. Are they kidding?   No they’re not! PARIS (AP) – Protesters blockaded Marseille’s airport, Lady Gaga canceled concerts in Paris and rioting youths attacked police in Lyon […]
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