thestatedtruth.com | September 7, 2010
The problem with trying to put hupty dumty back together is much like a house of cards,  they both tend to fall apart in a heap.  While abundant liquidity in May and June served as an artificial prop to return European and PIIGS spreads to previous levels, it looks more like a mean reversion as algorythems took hold. The second time around […]
thestatedtruth.com | September 7, 2010
So…….What’s going to happen here in the good old USA when, not if our congress gets around to this. Hint….. judging from the french reaction,  it won’t be pretty!  If you would like to know more about the demographic problem, just go to Categories on the left and click on Pensions and Retirement. There is plenty to read about on the […]
thestatedtruth.com | September 6, 2010
Have you ever wondered about which countries have the biggest gold reserves or are the largest producers of gold? Gold Atomic Number: 79 Symbol: Au Atomic Weight: 196.9665 Discovery: Known since prehistoric time Word Origin: Sanskrit Jval; Anglo-Saxon gold; meaning gold – also Latin aurum, shining dawn  Carats and carobs The word ‘carat’ (the measurement for gold purity) comes […]
thestatedtruth.com | September 4, 2010
A must listen to interview with Jim Rickards about our economy and more.  We all need to be aware of the direction of things to come.   This interview from Jim Rickards will help in understanding these things better.  Click on the following link or paste into your browser:   http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/9/4_Jim_Rickards.html  Biography of James G. Rickards…..James G. Rickards is […]
thestatedtruth.com | September 3, 2010
Very interesting,  but also a worst nightmare for tax payers……….Under Pennsylvania law, Ambac Assurance (which insures some of Harrisburg’s debt) can take Harrisburg to court to seek an order to raise property taxes to pay debt. This is the nature of “full faith and credit†of general-obligation bonds. So the tax payers are stuck for the […]
thestatedtruth.com | September 3, 2010
Bond Vs. Stocks…..Pension Allocations. Looks like bonds are priced to perfection here, so if re allocations take place in the next year like this report says, then the results may not be pretty. If interest rates have any kind of a kick to the upside a broad under performance could be setting up for retirement accounts. Hmmm, isn’t […]
thestatedtruth.com | September 3, 2010
This from Art Cashin on the floor of The New York Stock Exchange On this day in 1666, a massive fire broke out in the city of London, England. It began in a bakery on Pudding Lane, which was on the East End (between London Bridge and the Tower). The fire raged into the shop […]
thestatedtruth.com | September 2, 2010
Consumers are eschewing fixed-line alternatives for their cell phones, opting to keep connected to a single number whether they’re at home or in the car. www.dailyreckoning.com
thestatedtruth.com | September 2, 2010
Key message here is….. for liquidity ratios, equity fund portfolio managers are at an all-time record low of 3.4%, down from 3.8% in June. Tack on the fact that there are less shorts to be covered – being that the market peaked in April, and short interest is now 4.3% of the S&P 500 market cap (in August 2008 it […]
thestatedtruth.com | September 2, 2010
Key words here are…..”public debt had served for decades as the ultimate shock absorber — rising in bad times but not declining much in good times.â€Â Now things have to change as  the wealthiest nations face years of belt-tightening. International Monetary Fund Warns G7 on Debt Thursday, 2 Sep 2010 By: Sewell Chan The world’s most […]
thestatedtruth.com | September 2, 2010
Crisis mode? Hmm…..their words not ours! ECB Keeps Key Interest Rate at 1%, May Maintain Crisis Mode By Christian Vits  Sep 2, 2010 The European Central Bank kept interest rates at a record low today and President Jean-Claude Trichet may signal the bank will stay in crisis mode into next year. The ECB’s Governing Council […]
thestatedtruth.com | August 31, 2010
August 30, 2010 Record low temperatures for the day were set Monday in Long Beach and Santa Barbara amid cooler weather that has settled over Southern California, forecasters said. Long Beach recorded 58 degrees, breaking by one degree a record set in 1989, the National Weather Service said. Santa Barbara bottomed out at 48 degrees, […]
thestatedtruth.com | August 31, 2010
Rethinking American Options on Iran August 31, 2010 | 0856 GMT  By George Friedman Public discussion of potential attacks on Iran’s nuclear development sites is surging again. This has happened before. On several occasions, leaks about potential airstrikes have created an atmosphere of impending war. These leaks normally coincided with diplomatic initiatives and were […]
thestatedtruth.com | August 30, 2010
Another fraudulent entity, this time it’s a state……The state of New Jersey’s most recent report said that as of June 2009, its pension funds should have assets of $112 billion to meet their future obligations, but have only $66 billion now — This is one of the largest shortfalls of its kind, and is known as an unfunded liability!  The state […]
thestatedtruth.com | August 30, 2010
The Emperor, The Gladiator & The Lion August 30, 2010  The last surviving gladiator stood alone in the Coliseum as the crowd shouted approval of his victories. The emperor called for a lion. In bounded a fierce beast that loped to the gladiator. As it was about to pounce on him, the gladiator whispered […]
thestatedtruth.com | August 29, 2010
Interesting to say the least….rare earth elemnts are used in almost everything that is high tech……. Bloomberg reports that China is cutting back 72% of its exports of Rare Earth metals.  China has said that environmental issues are the reason for the cutbacks. 72% drop in availability of any commodity is important. RE’s are important. Japan […]
thestatedtruth.com | August 29, 2010
Some food for thought from George Friedman, CEO of STRATFOR, who believes China “will have a collapse†in the coming decade due to internal striff, an export based economy, and low internal rates of return,  It will set America up as the primary beneficiary in a new Golden Era. Mr. Friedman’s views are controversial but well worth listening […]
thestatedtruth.com | August 29, 2010
Last week, the Liscio Report posted an interesting comment on their blog, Where we are?: Here’s an updated guide to “where we areâ€â€”how the U.S. economy is faring relative to the average of previous financial crises around the world. Though individual details vary, we’re following the script pretty well. In the graphs of four major […]
thestatedtruth.com | August 29, 2010
By Todd Harrison of Minyanville Seeking Solutions In An Uncertain World We used to play for silver, now we play for life; ones for sport and one’s for blood at the point of a knife. –Grateful Dead We live in interesting times. During the last two years, a financial virus spawned and infected the economic […]
thestatedtruth.com | August 27, 2010
Here is a summary of parts of a Wall Street Journal article by California Governor Arnold Schwartzenegger on government pensions and employee benefit compensation. Roughly 80 cents of every government dollar in California goes to employee compensation and benefits. Spending on California’s state employees over the past decade rose at nearly three times the rate our […]
thestatedtruth.com | August 27, 2010
By Brian Pretti on Fri, 27 Aug 2010Â Â Â The most important information in the Treasury International Capital flow stats concerns equities. Have a look at the chart below. To the point, the top clip of the chart is the twelve month moving average of foreign purchases of US equities. Clearly there is cyclical rhythm here. […]
thestatedtruth.com | August 24, 2010
Beijing has a 62-mile traffic jam near the Chinese capital that could last until mid-September.  It has become a symbol of the dark side of China’s automobile age. Officials say traffic has been snarled along the outskirts of Beijing stretching toward the border of Inner Mongolia since roadwork on the Beijing-Tibet Highway started Aug. 13. The jam […]
thestatedtruth.com | August 23, 2010
By Todd Harrison of Minyanville Seeking Solutions In An Uncertain World We used to play for silver, now we play for life; ones for sport and one’s for blood at the point of a knife. –Grateful Dead We live in interesting times. During the last two years, a financial virus spawned and infected the economic […]
thestatedtruth.com | August 20, 2010
Quoted from Art Cashin on the floor of The New York Stock Exchange Yesterday, there was a bit of floor buzz on a Bloomberg TV item. The story was that when the President headed off to vacation, he assigned two top defense aides to follow him. That raised some discussion about whether an Israeli move […]
thestatedtruth.com | August 20, 2010
We’re sure that everyone has the best intentions to pay these hardship loans back, but……. A new study by Fidelity says record number of workers tapped their retirement funds and made hardship withdrawals from their accounts in the second quarter. According to the Fidelity study, “Among the 11 million workers whose 401(k) plans are run by Fidelity, […]
thestatedtruth.com | August 19, 2010
Congressional Budget Office director Doug Elmendorf who said that in reality the budget deficit could come in much higher than the just disclosed estimates, and the recent economic data releases have been “more negative” than data factored into the projection. Which, in government talk, means that the real deficit will likely come at least 20-30% higher, […]
thestatedtruth.com | August 19, 2010
 U.S. commercia real estate mall prices fall almost 11% in second quarter.          Question……To whom would one sell commercial property to if forced in this environment?   The red ink is going to be massive. The plunge is on.  Let’s hope the powers to be never require this stuff to be marked to market by the small banks or pension funds […]
thestatedtruth.com | August 19, 2010
A scary setup……Greece is just the beginning, not an end, we have started a spiral. The dominoes are now falling one by one. Life will get a lot harder for the entire world including here in the U.S (we haven’t even got to the austerity part here), we’re now entering the twilight zone. The solutions are […]
thestatedtruth.com | August 17, 2010
From Zerohedge.com    08/17/2010 The one must watch interview of the week (if not of the year) features Hayman Capital’s Kyle Bass. Bass, who correctly called the subprime implosion (and profited handsomely from it) as a iconoclast contrarian to conventional wisdom, tells David Faber that “given my outlook on the world, I don’t know how I […]
thestatedtruth.com | August 16, 2010
The ECRI index is an important leading indicator. It has now fallen for 10 straight weeks. There are three insurmountable problems in the US economy that are of a magnitude and gravity which can only be remedied by money printing: Federal and state deficits will soon escalate at an exponential rate. The US Federal debt […]
thestatedtruth.com | August 15, 2010
A major class struggle lies dead ahead!  The gap between the super-rich, the wealthy and “the rest of us” has widened, forming what is in essence two Americas. Economists Emmanuel Saez and Thomas Piketty have reported that the top 10% of earners took home about half of all income. According to Moody’s Analytics research, the top 5% […]
thestatedtruth.com | August 15, 2010
The FHA is almost broke, is government supported and they back 30% of all loans outstanding….To make matters more interesting, in its 76-year history, the FHA has never required a credit score from borrowers. (No wonder they’re broke). At a 580 credit score and above, borrowers would be eligible for a 3.5% down payment (still ridiculous). It is well below scores […]
thestatedtruth.com | August 13, 2010
thestatedtruth.com | August 13, 2010
Alabama is suing BP Plc and Transocean for damages sustained from the Gulf of Mexico oil spill, the state’s attorney general said on Friday. “We are making this claim because we believe that BP has inflicted catastrophic harm on the state,” attorney general Troy King told Reuters. “We are suing them for the amount it […]
thestatedtruth.com | August 13, 2010
Rosenberg Starts Off In Style: Â “If you don’t believe there’s going to be a double dip, it’s because the first recession never ended. If there is going to be a double dip, the odds are certainly higher than 50-50.”
thestatedtruth.com | August 12, 2010
We’re looking at what will likely be a multi year process of cleansing. Debts will have to be paid down, leverage decreased and ultimatly spending will have to be cut too! That will make things even worse. Asset values will continue to fall. At some point in the future the system will complete its debt recycling and […]
thestatedtruth.com | August 12, 2010
14’th Sequential Week Of Equity Outflows We have now had over one quarter of non-stop redemptions by mutual funds, which means, by end-retail investors. The problem is that now everyone is starting to notice that the market is not supported by anything except momentum manipulation and primary dealer machinations. Per ICI, the week ended August […]
thestatedtruth.com | August 12, 2010
Jim Sinclair’s Commentary This is simply not going away. There is no practical means by which it can be drained ever! It is growing in a way that is unsustainable by any measure. Rather than being contained we are on the threshold of another round of unprecedented paper money creation. The reason it is happening […]
thestatedtruth.com | August 10, 2010
Drought, Fire and Grain in Russia August 10, 2010 By Lauren Goodrich Three interlocking crises are striking Russia simultaneously: the highest recorded temperatures Russia has seen in 130 years of recordkeeping; the most widespread drought in more than three decades; and massive wildfires that have stretched across seven regions, including Moscow. The crises threaten the […]
thestatedtruth.com | August 9, 2010
Everyone should watch this Video…..Forget your politics, listen to the Words                  http://www.youtube.com/watch_popup?v=qtjfMjjce2Y
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