thestatedtruth.com | May 12, 2011
Tick Tac Toe, three in a row……NHK Reports Fukushima Reactor 1 Is Melting Down.. Haven’t the cores of reactors 2 and 3 already melted down? Uh, we think so……. Following up on earlier reports that the fuel rods in reactor 1 were truly exposed, NHK now reports another speculation from long ago, finally confirmed by official […]
thestatedtruth.com | May 12, 2011
Eric Sprott of Sprott Asset Management….. making headlines at SALT (Sky Bridge Alternatives  Conference) in Vegas: SPROTT SAYS GOLD IS NOW THE WORLD’S RESERVE CURRENCY SPROTT SAYS SILVER WAS `MANIPULATED’ DOWN IN PRICE SPROTT SAYS PEOPLE IN IRELAND, GREECE ALREADY FLEEING BANKS SPROTT SAYS SAVERS WILL FLEE BANKS TO PUT MONEY INTO GOLD
thestatedtruth.com | May 12, 2011
Among other things, Dinan says……“The lessons of ‘07 and ‘08 are totally forgotten,†Dinan warned. “The thinking that ‘I won’t be left behind when the music stops.’ That’s very dangerous thinking.†  Jamie Dinan, York Capital: Banks Jamie Dinan, founder of $17 billion hedge fund York Capital Management LP, talks about financial stocks. “The amount of […]
thestatedtruth.com | May 12, 2011
Guess it’s starting to matter how much it costs to fill up all those old SUV’s still on the road……………….. U.S. demand for gasoline fell by the largest amount in seven weeks — a signal that consumers are conserving money as gas prices near a national average of $4 a gallon.
thestatedtruth.com | May 10, 2011
So…..the U.S. has gone trillions, yes trillions of dollars in debt for what? Uh….an economic recovery that has only matched inflation (yes we know, the government says there is no inflation), or let’s just call it an economy that has gone virtually nowhere. And the only way to get more growth at this point is to add […]
thestatedtruth.com | May 9, 2011
The U.S. is in the midst of a “zombie consumer” generation that will dent GDP growth for years to come, according to Citi and Yale’s Stephen Roach (via The Globe and Mail). Â And who is responsible for leading the sheep down this road, yep……good old uncle sam! Speaking in Toronto, Roach said that the […]
thestatedtruth.com | May 9, 2011
Interesting subject matter….exploding demand from smartphones will soon overwhelm the nation’s wireless capacity. So, what’s the FCC’s plan to fix this imminent spectrum wipe out?  Something called “Incentive Auctions,” which lets the owners of old, under-used spectrum–TV and radio broadcast spectrum, for example–put the spectrum up for auction and get a portion of the proceeds. This […]
thestatedtruth.com | May 9, 2011
Highlights from a new report from Zillow on real estate…………….The number of homes with negative equity rose to 27% or 16.2 million units in the first quarter from 13.1 million units a year earlier. In the first quarter of 2009 only 22% of homes were underwater, Zillow said. Home prices slumped 8.2 percent on average over the past 12 months. Property […]
thestatedtruth.com | May 6, 2011
The nation’s capital continues to head a list of the top cities for finding work. The rankings are based on the latest job market competition ratings from www.Indeed.com. The ratings compare the number of people looking for work with the number of advertised positions in a given area. Here are the 10 cities with the […]
thestatedtruth.com | May 5, 2011
This from The Hill……If it isn’t a plan, then why float it!  Among other things, CBO suggested that a vehicle miles traveled (VMT) tax could be tracked by installing electronic equipment on each car to determine how many miles were driven; payment could take place electronically at filling stations. The Obama administration has floated a transportation […]
thestatedtruth.com | May 4, 2011
This long down period makes sense….everybody is hoping for the best, but demographics and many other things point to a very negative period ahead for real estate. Can Americans cope with a 10 to 15 year bear market in real estate? On this front there is good news, and bad news. The bad news is that we are likely […]
thestatedtruth.com | May 2, 2011
The SNAP released the most recent food stamp numbers. Not surprisingly, we have another all time high of 44.2 million poverty-level Americans relying on government funding for day to day sustenance. So you ask: When will this end?  Hmm…we wonder about that too!
thestatedtruth.com | May 1, 2011
The most wanted and hunted person in United States history gets his just reward…….Osama, may you rot in HELL! The United States message is you can run but you can’t hide. President Obama confirmed Osama bin Laden was killed by CIA Special Forces, with a short address to the nation and ended with this quote “ God Bless America”. […]
thestatedtruth.com | April 30, 2011
From The Wall Street Journal….Retirement annuities, may not be such a good idea after all, especially now. Read on! Turmoil in the stock market. Paltry interest rates at the bank. What are the newly retired to do? Many are taking a look at buying a fixed annuity instead. These products let you swap a lump […]
thestatedtruth.com | April 28, 2011
Reality check for the government talking heads……are things really as good as they think. From Reuters: An April 20-23 Gallup survey of 1,013 U.S. adults found that only 27 percent said the economy is growing. 29 percent said the economy is in a depression and 26 percent said it is in a recession, with another […]
thestatedtruth.com | April 28, 2011
What’s wrong with this picture….McDonalds has one million new job applications which is two and a half times more applications then it has total workers employed by its company owned stores! Geez….  Bloomberg: McDonald’s and its franchisees hired 62,000 people in the U.S. after receiving more than one million applications, the Oak Brook, Illinois-based company said today […]
thestatedtruth.com | April 28, 2011
Nothing to worry about for now…as long as all these recently subsidy-free individuals aren’t paying their mortgage and the banks aren’t enforcing payment….all is well, sort of…. but eventually that roof will go away! It’s probably worse, that’s because the government has so many seasonal adjustments now days that it tends to make things seem better then they really […]
thestatedtruth.com | April 28, 2011
A sign of the (hard) times……..despite what the government portends! The head of Wal-Mart’s U.S. operations warned Wednesday talking to USA Today….”Wal-Mart’s core shoppers are running out of money much faster than a year ago due to rising gasoline prices, and the retail giant is worried. “We’re seeing core consumers under a lot of pressure,” […]
thestatedtruth.com | April 28, 2011
The U.S. economy grew at a slower pace than forecast, surprising many in the first quarter as government spending declined by the most since 1983. Gross National Product prints 1.8% down from consensus of 2.0% which had multiple negative revisions. Economists were unanimous by a record amount, in a poll….. that things were going to be dynamically better and […]
thestatedtruth.com | April 27, 2011
For the first time since the Great Depression, households are receiving more income from the government than they are paying the government in taxes. The combination of more cash from various programs, called transfer payments, and lower taxes has been a double-barreled boost to consumers’ buying power, while also blowing a hole in the deficit. […]
thestatedtruth.com | April 26, 2011
Rather important to say the least, because what happens here may spread like wild fire across the European continent……another fuse looking for a match! In London on Tuesday, UBS’s City office asked the decisions committee of the International Swaps & Derivatives Association to say whether the Irish government’s new Credit Institutions Act signals a “restructuring […]
thestatedtruth.com | April 26, 2011
Deutsche Bank ranks the U.S. government as the world’s fourth riskiest sovereign borrower, behind Greece, Ireland and Portugal, and just ahead of Italy.
thestatedtruth.com | April 25, 2011
Low interest rates are here forever….or it’s game over! Realistically speaking, we all know interest rates can’t stay low forever, so…..it’s just a matter of time. With ultra low interest rates, the U.S. interest expense is $440 billion this year or 3% of GDP. If government borrowing rates were to rise a mere 2%, interest expense […]
thestatedtruth.com | April 25, 2011
If one was running a corporation….the blue line should be above the red line. Basic math 101. Average tax receipts over the last half century are about 17% of GDP and spending about 20%. Any reasonable plan would attempt to return to those norms. The partisan budget approach focuses on central themes. From the political […]
thestatedtruth.com | April 25, 2011
“The Wealth Effectâ€Â — combined with low taxes on capital has concentrated American wealth into the hands of the richest 1%. Seven percent of income flows to the top 0.1 %. Meanwhile, tax receipts in general are the lowest as a percentage of GDP in a half century.
thestatedtruth.com | April 25, 2011
American poverty and distress, such as food stamp recipients are headed for an all time high! Â
thestatedtruth.com | April 24, 2011
From this weeks Barron’s……………Mark Hanson points out, banks and servicers are back with a vengeance and cutting asking prices sharply “to blow out distressed inventory.” Other price depressants he cites include unfavorable demographics, soaring energy costs and a broken mortgage market. The chart below is from Yale economist Robert Shiller, and it plots an index (called […]
thestatedtruth.com | April 24, 2011
We’ll say it again….Jim Sinclair is probably the best Gold trader ever! Jim Sinclair’s Commentary Consider for a moment what things would have looked like if QE did not exist in the US as well as other major Western financial systems. What would this so called recovery look like? Now think how things will look […]
thestatedtruth.com | April 24, 2011
David Kotak out with his latest opinion of how things are….normally David has more answers then questions! Hmm….. Cumberland Advisors FDIC & Fed: more questions than answers April 23, 2011 We thank readers for their kind words about Scylla and Charybdis (www.cumber.com). We also thank friends Dennis Gartman, John Mauldin and Barry Ritholtz for sharing the […]
thestatedtruth.com | April 21, 2011
Jim Grant ranks in the top tear of analysts covering interest rates…..right at the top of the list with Bill Gross, the founder of PIMCO (the worlds largest bond manager). From his latest Grant’s Interest Rate Observer: “Almost 30% of the respondents to a poll conducted by UBS a few weeks back said they anticipate a […]
thestatedtruth.com | April 21, 2011
Trouble dead ahead….remember, we’re (supposedly) in an economic recovery? www.ingerletter.com
thestatedtruth.com | April 20, 2011
This just in from S&P, which does a follow up to its earlier U.S. outlook warning, and revises its GSE and FHLB outlook to negative. Let’s remember that this is happening in an economic (supposed) recovery. NEW YORK (Standard & Poor’s) April 20, 2011–Standard & Poor’s Ratings Services said today that it revised its outlooks on […]
thestatedtruth.com | April 20, 2011
An excellent review of the world economic picture and the future of Gold By Ron Hera April 15, 2011 ©2011 Hera Research, LLC The Hera Research Newsletter (HRN) is pleased to present an in-depth interview with Jim Sinclair, Chairman and CEO of Tanzanian Royalty Exploration and founder of Jim Sinclair’s MineSet, which hosts his gold commentary […]
thestatedtruth.com | April 19, 2011
This is the second highest net leverage ever seen on on the NYSE, Â and only a freckle away from a new record….Words to the wise, be prepared is not just a boy scout motto. The NYSE has released its monthly margin debt update for March. Not surprisingly, with EVERYONE chasing nothing but levered beta, margin […]
thestatedtruth.com | April 19, 2011
 China and the End of the Deng Dynasty By Jennifer Richmond and Matthew Gertken | April 19, 2011 Beijing has become noticeably more anxious than usual in recent months, launching one of the more high-profile security campaigns to suppress political dissent since the aftermath of Tiananmen Square crackdown in 1989. Journalists, bloggers, artists, Christians […]
thestatedtruth.com | April 18, 2011
History shows it’s all forgotten by the next day……maybe this time will be different! A stark warning from S&P about the U.S. government’s fiscal problems stoked concern on Wall Street and in Washington on Monday, intensifying political divisions concerning the growing deficits. House of Representatives Republican leader Eric Cantor on Monday called the Standard & Poor’s downgrade […]
thestatedtruth.com | April 17, 2011
Hmm….The University of  Texas whose $19.9 billion in assets ranked it second only behind Harvard University’s endowment as of August, added about $500 million in gold investments to an existing stake last year, and took delivery of almost $1 billion in gold bullion….”storing the bars in a New York vault, according to the fund’s board.” said Bruce Zimmerman, […]
thestatedtruth.com | April 15, 2011
President Obama has interesting but harsh words out of the White House…..Let’s look at his record, looks like the old saying, do as I say, not as I do! “Failure by Congress to raise the U.S. debt limit “could plunge the world economy back into recession,” President Barack Obama declared Friday, and he acknowledged that he […]
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