thestatedtruth.com | March 8, 2013
Hmm….the average working age person has only about $79,651 saved up for retirement. That works out to about $416 per mounth of retirement payout if retiring at age 62. ICI recently released their retirement plan data through Q3 of 2012. The chart of the day shows the real (inflation adjusted) total retirement market assets per working age citizen […]
thestatedtruth.com | March 1, 2013
How do we define austerity? Quit simply we think it means that out into the future… “we’re all going to be poorer”. This sets up a bad game, and looking at the view of the field, it really doesn’t look anything like the ticket they sold us……more specifically, we have “bad seats, hey buddy…front row behind a pole, and we just sat […]
thestatedtruth.com | January 13, 2013
10,000 Boomers turn 65 years old every day. Here is how it looks on a chart. Empty nut shells piled high for the old folks…. These costs will be exceeding $1 trillion per year in the near future. Meanwhile, the number of workers per retiree will continue to fall as it has for decades. In 1945 there were […]
thestatedtruth.com | November 30, 2012
Pretty stunning news…..and what does this mean, it means slow or no growth in the economy for many many years. Oh, and the chart below explains how much government assistance the baby boomers are reliant on, and it becomes worse with the working population slowing, not growing. The U.S. birthrate fell to a record low last year, coming in […]
thestatedtruth.com | October 27, 2012
Median U.S. household incomes have been stagnant for most of the last twenty years…and falling hard for the last four years. But…..the top 10% and the top 1% earners have risen dramatically! www.mauldineconomics.com
thestatedtruth.com | September 25, 2012
Savings….The average American says, what savings? The main reason for the recent surge in consumer “confidence” in September was the near record surge in sentiment for those making $15,000-$25,000, which soared from 43.5 to 62.4 in the month, the most since April 2009. And whether this was due to their forecast of the future, and expectation […]
thestatedtruth.com | August 26, 2012
Life as we thought it to be, has changed for ever! So what’s the new plan? Uh….Hello By Henry Blodget – Daily Ticker Annual incomes in the United States have dropped sharply in recent years, and near-retirees are getting hit the worst. That’s the conclusion of a new study by Sentier Research, which looked at the […]
thestatedtruth.com | June 26, 2012
Hmm… Survey: More Than 25% of Americans Have No Emergency Savings! By Nancy Stanley While nearly half of Americans don’t have enough money saved to cover emergencies, one-quarter don’t have any money saved, according to Bankrate.com’s Financial Security Index survey. The general rule of thumb is to have enough cash saved to cover at least […]
thestatedtruth.com | June 11, 2012
Fed Says U.S. Wealth Fell 38.8% in 2007-2010 because of Housing….Duh! The financial crisis wiped out 18 years of gains for the median U.S. household net worth, with a 38.8 percent plunge from 2007 to 2010 that was led by the collapse in home prices, a Federal Reserve study showed. Median net worth declined to $77,300 in […]
thestatedtruth.com | June 7, 2012
It sounds like things are really rolling, but are they really? Since reaching a five-year low of $51.3 trillion in the first quarter of 2009, net worth has improved by $11.6 trillion. That leaves it $4.6 trillion below the record high of $67.5 trillion reached in the quarter ended September 2007, three months before the […]
thestatedtruth.com | April 17, 2012
thestatedtruth.com | April 17, 2012
Out of the 143 million tax returns that were filed with the IRS in 2010, 58 million or 41 percent of those filers were non-payers. Hmm…. Americans making over $50,000 paid the majority of the federal taxes that were paid in the U.S. in 2010. According to statistics compiled from the Internal Revenue Service (IRS) by […]
thestatedtruth.com | March 19, 2012
Spend, spend spend…… The Federal Reserve Flow of Funds Report, issued two weeks ago, reveals the extent of the average mans plight : Forty percent of all credit card users do not pay-off their credit card every month and carry an average balance of $16,000 at an average interest rate of 15%. Total U.S. credit market […]
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
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 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 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 | January 20, 2012
Confidence levels have been rising rapidly…and the government says things are getting better, people are starting to borrow again, using their credit cards more, and out and about in a spending mood….but the exhibit below tells a more realistic story of our current plight. So, are things really any better then they were? We’ll let you answer that one! Chart: […]
thestatedtruth.com | January 18, 2012
We’ve been wondering the same as new cars are flying off the lot…….American households “have been spending recently in a way that did not seem in line with income growth. So somehow they’ve been doing that through perhaps additional credit card usage,” Chicago Federal Reserve President Charles Evans said on Friday. In an other ominous sign […]
thestatedtruth.com | January 10, 2012
This is truly a statement about the rich. Let’s clarify that, the very rich. Porsche has its biggest backlog ever. Buyers of the 263,000-euro ($335,667) Lamborghini Aventador will have to wait more than a year for delivery, while demand for the 107-year-old Rolls-Royce brand (at $246,000 to $380,000 each) is breaking all time records. Sales of […]
thestatedtruth.com | January 8, 2012
thestatedtruth.com | January 8, 2012
thestatedtruth.com | December 17, 2011
The U.S.consumer debt situation remains a major problem and is far from its normal boundaries. It will remain so for some time to come, and we mean years! Here’s an updated look at the U.S. consumer. During the housing boom, consumer leverage rose at nearly twice the rate of corporate and banking leverage. Even after all the […]
thestatedtruth.com | December 5, 2011
thestatedtruth.com | December 5, 2011
The latest update from the Supplemental Nutrition Assistance Program (SNAP) shows 423,000 more Americans just found their way to the Food Stamp train from Uncle Sam. This should be good for Walmart.
thestatedtruth.com | November 20, 2011
We have a broken down world! Can two Lone Rangers rescue us? PIMCO’s Bill Gross laid out his pessimistic outlook, fretting that growth in developed countries could be weighed down for years by debt problems in Europe and high unemployment in the U.S. BlackRock’s Larry Fink said he sees “all the same problems, and the problems […]
thestatedtruth.com | November 15, 2011
From the master himself, Warren Buffett…“Through the tax code, there has been class warfare waged, and my class has won,” Buffett said. “It’s been a rout. You have seen a period where American workers generally have gone no place, and where the really super rich as a group increased their incomes five for one in […]
thestatedtruth.com | November 7, 2011
The wealth gap between younger and older Americans has stretched to the widest on record. Households headed by someone under age 35 had their median net worth reduced by 27 percent in 2009 as a result of unsecured liabilities, mostly a combination of credit card debt and student loans. No other age group had anywhere […]
thestatedtruth.com | November 7, 2011
The entire consumer credit growth is from auto loans and student loans, while revolving credit dropped…Student loans have been a growth business, but at what expense? A whole student generation is hopelessly buried. Truly buried like no other generation ever! So… just where did this consumer credit in 2011 come from? Well, of the $32 billion in credit […]
thestatedtruth.com | November 1, 2011
Hey, what the heck…records are made to be broken. August (the latest data), set a new all time record for Americans on food stamps, with 45.8 million poor souls on food stamps for sustenance. Alabama, Delaware, Utah, and Washington all had at least a 3% sequential increases in food stamp usage.
thestatedtruth.com | October 31, 2011
MF Global goes Chapter 11……breaks into the top ten standings! Here we go…MF Global, the brokerage run by former Goldman Sachs chief Jon Corzine, today filed for bankruptcy protection, becoming the highest-profile U.S. victim (that we know, so far) of bad bets on European government debt. With the Chapter 11 filing, MF Global also is likely […]
thestatedtruth.com | October 19, 2011
Yep…It takes a lot of lawyers and money to tie knots in a political system like ours (and this is home to the nation’s greatest concentration of lawyers) …sounds like the protesters should be headed for Washington D.C. in short order. Total compensation for federal workers, including health care and other benefits, last year averaged $126,369. “There’s a […]
thestatedtruth.com | October 16, 2011
City, State, % of People Below the Poverty Level 1. Detroit , MI 32.5% 2. Buffalo , NY 29.9% 3. Cincinnati , OH 27.8% 4. Cleveland , OH 27.0% 5. Miami , FL 26.9% 5. St. Louis , MO 26.8% 7. El Paso , TX 26.4% 8. Milwaukee , WI 26.2% 9. Philadelphia , PA […]
thestatedtruth.com | October 13, 2011
Food for deep thought…these are staggering! State and local government debt has reached an all-time high of 22 percent of U.S. GDP. U.S. households are now receiving more income from the U.S. government than they are paying to the government in taxes. According to a new study conducted by the BlackRock Investment Institute, the ratio of […]
thestatedtruth.com | October 11, 2011
What’s coming at us over the next few years, will likely make 2008 look like a warm up! Nevertheless, … analysts are expecting another earnings season of double-digit growth (the eighth quarter in a row), yep…even though corporate earnings as a percentage of GDP are in the area of all time record levels seen only 4 other times in history, […]
thestatedtruth.com | October 9, 2011
Here’s the real reason for the Wall Street protests….Extreme inequality is the hallmark of a dysfunctional economy, dominated by a financial sector that is driven as much by speculation, gouging and government backing as by productive investment. That sums it up! Robert Reich, President Clinton’s Secretary of Labor said recently – The top one half of […]
thestatedtruth.com | October 7, 2011
The consumer has hit a wall with credit growth, and can’t handle any more agony, while the government is borrowing like a drunk sailor. www.zerohedge.com
thestatedtruth.com | October 3, 2011
We should say this is a horrific economic crisis that’s about to get (out of) hand…..Debt is a very cruel master. It will almost always bring more pain and suffering than you anticipated. It is easy to get into debt, but it is very difficult to get out of debt. In the end, we will see that the debt-fueled prosperity […]
thestatedtruth.com | September 30, 2011
The top one half of 1 percent of the population now owns over 28 percent of the nation’s total wealth. Are they kidding? And the Republicans don’t want to raise taxes on the rich…..They should be ashamed of themselves, but they’re not. This from RobertReich.org The President’s modest proposals to raise taxes on the rich – […]
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