thestatedtruth.com | August 9, 2010
Gene Inger’s Daily Briefing . . . for Tuesday August 10, 2010:  Good evening;     ‘A recessionary relapse’ ……. .is the biggest unreported forecast story of the day. Not by us (though we unfortunately concur but see real risk sooner), but rather from none other than the San Francisco Federal Reserve. I read the key […]
thestatedtruth.com | August 8, 2010
Can we believe them! Â British Petroleum announced that a test on the cementing operation needed to plug its well in the Gulf of Mexico was successful.
thestatedtruth.com | August 8, 2010
A chunk of ice four times the size of Manhattan has calved from Greenland’s Petermann Glacier, scientists announced on Friday. The last time the Arctic lost such a large chunk of ice was in 1962. Petermann Glacier, the parent of the new ice island, is one of the two largest remaining glaciers in Greenland that […]
thestatedtruth.com | August 7, 2010
thestatedtruth.com | August 6, 2010
Bill Gross calls it the new normal, where the consumer becomes a saver. He says artificial consuming i.e. borrow and spend is gone for a long time. Americans cut credit-card use for the 21st straight month in June as static  job growth and a slowing economy turned spenders into savers. The national saving rate, meanwhile, rose, to 6.4%, […]
thestatedtruth.com | August 6, 2010
Pacific Investment Management Co.’s Bill Gross said the Federal Reserve is unlikely to raise interest rates for two to three years as it seeks to keep the economy from slipping back into recession. Treasury two-year note yields dropped below 0.50 percent for the first time today after the Labor Department said the economy lost more […]
thestatedtruth.com | August 6, 2010
thestatedtruth.com | August 5, 2010
Hmm…….There really are free lunches! Boston.com says it all: “The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday. Recipients of Supplemental Nutrition Assistance Program subsidies for food purchases jumped 19 percent from a year earlier […]
thestatedtruth.com | August 5, 2010
These two companies Fannie Mae and Freddie Mac could very well lose money forever! At some point the government has to just say enough of this and either shut both of them down, or require higher down payments on home purchases to protect their assets. Simple as that!  By  Lorraine Woellert         Thursday August 05, 2010 Fannie Mae, […]
thestatedtruth.com | August 5, 2010
 Thu Aug 5, 2010 * Postal Service concerned with future liquidity * Says regulatory changes necessary for fiscal stability By Jasmin Melvin WASHINGTON, Aug 5 (Reuters) – The U.S. Postal Service reported a quarterly net loss of $3.5 billion on Thursday and said it will likely have a cash shortfall going into 2011. The […]
thestatedtruth.com | August 4, 2010
By LOLITA C. BALDOR Associated Press Writer= WASHINGTON (AP) — Computer hackers have begun targeting power plants and other critical operations around the world in bold new efforts to seize control of them, setting off a scramble to shore up aging, vulnerable systems. Cyber criminals have long tried, at times successfully, to break into vital […]
thestatedtruth.com | August 4, 2010
Well plugged…..Let’s hope so. ON THE GULF OF MEXICO — In a significant step toward stopping the worst offshore oil spill in U.S. history, BP said Wednesday mud that was forced down its blown-out well was holding back the flow of crude in the Gulf of Mexico and it was in a “static condition.” There is […]
thestatedtruth.com | August 4, 2010
General Motors Co. and Ford Motor Co. reported U.S. sales in July that trailed analysts’ estimates as consumers concerned about the economy limited large purchases. Toyota Motor Corp. and Nissan Motor Co. topped expectations. GM’s sales rose 1.5 percent, including an adjustment for the number of selling days in July. On that basis, the largest […]
thestatedtruth.com | August 4, 2010
By Bloomberg News – Aug 4, 2010 China’s banking regulator told lenders last month to conduct a new round of stress tests to gauge the impact of residential property prices falling as much as 60 percent in the hardest-hit markets, a person with knowledge of the matter said. Banks were instructed to include worst-case scenarios […]
thestatedtruth.com | August 3, 2010
Earth is bracing for a cosmic tsunami Tuesday night as tons of plasma from a massive solar flare head directly toward the planet. The Sun’s surface erupted early Sunday morning, shooting a wall of ionized atoms directly at Earth, scientists say. It is expected to create a geomagnetic storm and a spectacular light show — […]
thestatedtruth.com | August 2, 2010
Hulu is a website offering commercial-supported streaming video of TV shows and movies from NBC, Fox, ABC, and many other networks and studios. Hulu videos are currently offered only to users in the United States In order to ensure that no international users outside the U.S. have access to the videos, Hulu blocks many anonymous […]
thestatedtruth.com | July 31, 2010
The economy of the U.S. grew at a weaker than expected 2.4% in the second quarter, but the first quarter was revised back up to 3.7% on the strength of stronger-than-projected inventory rebuilding. But the recession years were revised downward rather significantly for this late in the cycle. We find now that the recession was […]
thestatedtruth.com | July 30, 2010
Posted Friday July 30,  2010 By: David A. Patten Former GOP House Speaker Newt Gingrich warned Thursday that President Obama and congressional Democrats appear to be on the verge of repeating the same mistakes that aggravated the Great Depression, adding that letting the Bush tax cuts expire would prove “very dangerous” for the nation’s economy. Speaking […]
thestatedtruth.com | July 30, 2010
Hint……this is not a pretty picture! Posted from zerohedge.com Exerts from a Goldman review are shown below. The chart below provides an integrated look at the GDP growth impact of fiscal policy at the federal, state, and local level.  These numbers are based on our current assumptions that (1) Congress will not extend emergency unemployment benefits beyond the […]
thestatedtruth.com | July 29, 2010
Broken Financial Generations – U.S. households only have a median of $2,000 saved in retirement accounts. The median net worth for those 25 to 34 is $3,700. Which generation will support the economy going forward? Social Security beneficiaries make up 19 percent of all Americans.     This is setting up a big problem.  The demographics of the […]
thestatedtruth.com | July 28, 2010
By Alex Kowalski – Jul 28, 2010 Pacific Investment Management Co.’s Bill Gross said deficit spending by governments that seek to maintain artificial levels of consumption “can be compared to flushing money down an economic toilet.†Without acceleration in population growth, developed countries finance more consumption to maintain economic growth, the world’s biggest bond-fund manager […]
thestatedtruth.com | July 27, 2010
This means each additional dollar of debt is now working its way into a negative muliplyer effect on our economy….not to long ago, it had just the opposite effect, the more debt, the more we would grow. Now at some point going forward, a hiccup in the trillions of dollars of derivatives will set off a domino effect of defaults, […]
thestatedtruth.com | July 27, 2010
Just a reminder…… Jim Rogers was George Soro’s original partner for the Quantum Fund. Both are now billionaires! Robert Shiller, co-creator of the Standard & Poor’s/Case-Shiller house price index, also warned that the next downturn may come, maybe even sooner. By James Quinn, US Business Editor Published 27 Jul 2010 Mr Rogers, the respected currency trader and hedge […]
thestatedtruth.com | July 27, 2010
U.S. local governments may cut almost 500,000 jobs through next year to cope with sliding property taxes, a decline in state and federal aid and added need for social services, according to a report released today. The report, a result of a survey by the National League of Cities, the U.S. Conference of Mayors and […]
thestatedtruth.com | July 26, 2010
July 26 (Reuters) – Iranian criticism of Russian President Dmitry Medvedev is “unacceptable” and “fruitless, irresponsible rhetoric”, the Russian Foreign Ministry said on Monday. Medvedev told foreign ambassadors on July 12 that Iran was moving closer to the potential to create nuclear weapons. Iranian President Mahmoud Ahmadinejad reacted harshly last weekend, calling Medvedev’s statement “the […]
thestatedtruth.com | July 24, 2010
 About 31 percent of U.S. oil output and about 10 percent of gas production, comes from the Gulf of Mexico according to the Energy Department By Dan Hart – Jul 24, 2010 Bonnie has degenerated to a “disorganized area of low pressure†near the U.S. Gulf Coast, hours after the National Hurricane Center lifted […]
thestatedtruth.com | July 24, 2010
THIS MAY BE THE ONLY THING GLOBAL ECONOMIES OF THE WORLD HAVE TO LOOK FORWARD TO.  IN THE END, EVERYONE WILL BE WORSE OFF.  GOLD ANYONE? Gloom, Boom and Doom publisher Marc Faber says the Fed will begin “massive†quantitative easing by October.  “The economy is not robust,†Faber told Bloomberg. “We have mixed signals, but […]
thestatedtruth.com | July 24, 2010
By John Mauldin July 24, 2010 Â The Elements of Deflation Just as every school child knows that water is formed by the two elements of hydrogen and oxygen in a very simple combination we all know as H2O, so deflation has its own elements of composition. Let’s look at some of them (in no […]
thestatedtruth.com | July 22, 2010
Gobbledygook?    We encounter it frequently.   Contracts written at a reading level most can’t understand. Only one in five adults reads above a 12th-grade level.   By Connie Prater Credit card agreements are written on average at a 12th grade reading level, making them not understandable to four out of five adults, according to a CreditCards.com […]
thestatedtruth.com | July 22, 2010
 By Lydia Saad   PRINCETON, NJ — Gallup’s 2010 Confidence in Institutions poll finds Congress ranking dead last out of the 16 institutions rated this year. Eleven percent of Americans say they have “a great deal” or “quite a lot” of confidence in Congress, down from 17% in 2009 and a percentage point lower than […]
thestatedtruth.com | July 22, 2010
  * Louisiana declares state of emergency  * U.S. officials evaluating whether to evacuate area  Thu Jul 22, 2010 By Kristen Hays and Anna Driver HOUSTON, July 22 (Reuters) – BP Plc (BP.L) (BP.N) oil spill workers in the Gulf of Mexico prepared for a possible evacuation on Thursday as a tropical storm threatened […]
thestatedtruth.com | July 21, 2010
 Posted July 21, 2010 CHICAGO (Reuters) – The intense heat and humidity that blanketed central Kansas since late last week have killed more than 2,000 cattle and one state official called the heat-related losses the worst in his 17 years on the job. However, conditions for the cattle improved somewhat on Tuesday as the […]
thestatedtruth.com | July 20, 2010
Source: Institute for Policy Studies The above shows a solid plutocracy is already here. Wealth is the key issue. As many people are now finding out simply having a massive home with a jumbo mortgage and a leased foreign car is no sign of wealth. In fact, that can be taken from you quickly (and […]
thestatedtruth.com | July 20, 2010
For decades the idea was that you can spend more than you earn. This came all the way from the top so it shouldn’t be a surprise that many in the middle class took their signal from their leaders. What happened? Source: Lew Rockwell The personal savings rate went so low that it went from […]
thestatedtruth.com | July 20, 2010
Interesting happenings between U.S. government and BP………….A standoff between BP and the US government over the handling of the stricken Macondo well in the Gulf of Mexico continued with a sharp exchange of words over the best way to keep the oil contained .   At the heart of the dispute is anxiety about what is […]
thestatedtruth.com | July 20, 2010
Write up from Byron Wein…………”The Smartest Man In Europe” Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Commentary courtesy of www.fmxconnect.com We recently came across an interesting piece from Blackstone on the European Stimulus and the road to recovery. Bryon Wein is a well known strategist. The most salient points are outlined below: No clear way out of the enormous debt burden […]
thestatedtruth.com | July 19, 2010
July 19 (Bloomberg) — Billionaire investor George Soros said U.S. lawmakers should refrain from withdrawing stimulus measures because the economy hasn’t strengthened enough.“I think the timing is wrong with withdrawing the stimulus,†Soros said at the Hamptons Institute in East Hampton, New York on July 16. “Cutting employment benefits, cutting aid to states that are […]
thestatedtruth.com | July 19, 2010
   July 19, 2010    .     By Carly Porter               AccuWeather.com Staff Writer    . A well-developed tropical wave currently bringing strong winds and rough seas north of Puerto Rico could develop into a tropical system by the weekend. According to AccuWeather.com hurricane meteorologist Dan Kottlowski, there is high potential for this tropical wave to evolve […]
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