thestatedtruth.com | February 24, 2011
Rock and Roll, and to think….the media says it’s all behind us and everything is getting better rapidly…..NOT! Troubled Banks Rise To Highest Level In 18 Years By Marcy Gordon Posted: 02/23/2011 WASHINGTON — The number of banks at risk of failing made up nearly 12 percent of all federally insured banks in the final […]
thestatedtruth.com | February 24, 2011
Does anyone really think there is a recovery going on! ” Less than 500 homes sold in the over $750,000 and only 19k total new homes were sold. The lowest monthly total ever. (and of the 19K, 53% were vacant lots or under construction). “Sales of new single-family houses in January 2011 were at a seasonally […]
thestatedtruth.com | February 24, 2011
Here is the latest news from the ABC.net.au,:  “Gaddafi’s private plane is loaded with gold bullion and hard currency, mainly dollars, and is preparing to fly to Zimbabwe.” Yet there is speculation that Gaddafi may pull a Hitler: “Earlier, one of Mr Gaddafi’s former ministers predicted the Libyan leader will follow in Adolf Hitler’s footsteps […]
thestatedtruth.com | February 23, 2011
thestatedtruth.com | February 23, 2011
Federal Reserve Bank of Kansas City President Hoenig is one guy that knows! HOENIG:  U.S. HAS `DEEPLY’ UNDERMINED FREE-MARKET CAPITALISM HOENIG: WARNS OF ESCALATING SERIES OF CRISES WITH RISING COSTS HOENIG: LARGE FINANCIAL FIRMS CAN EXPECT BAILOUTS IN FUTURE HOENIG: BIG FINANCIAL FIRMS MUST NOT HOLD ECONOMY`HOSTAGE’ HOENIG: BIG FIRMS `HAVE SIGNIFICANT INCENTIVES’ TO INCREASE RISK HOENIG: TOO-BIG-TO-FAIL FIRMS POSE […]
thestatedtruth.com | February 23, 2011
Nowhere Near Over February 23, 2011 This is nowhere near over.  By “Thisâ€, we mean the regional contagion, spreading violence and rising geopolitical risk in the Middle East and North Africa.   Reports say that Libya has stopped producing oil and that pipeline delivery to Europe (Italy) is interrupted. Libya seems headed for complete dismemberment and […]
thestatedtruth.com | February 22, 2011
How Rich Are The Superrich A huge share of the nation’s economic growth over the past 30 years has gone to the top one-hundredth of one percent, who now make an average of $27 million per household. The average income for the bottom 90 percent of us? $31,244.
thestatedtruth.com | February 22, 2011
Mohamed El-Erian appeared on Bloomberg Surveillance with Tom Keene,  talking about the developments in the Middle East, “we have to appreciate that in the west, what is happening in Egypt and North Africa results in stagflation in the short term. So higher inflation and lower growth because of higher oil prices that take away purchasing power […]
thestatedtruth.com | February 21, 2011
Earth is overdue a massive solar storm as the sun enters its most active period…..We’ve been talking about this for a while.  Heads up everybody…..Have cash on hand and 30-60 days of food, water, toilet goods etc, and lots of flash lights and batteries and keep your car gas tank at least half full at […]
thestatedtruth.com | February 21, 2011
Inquiring minds want to know what happens to the Libyan Gold….Uh, one guess…It follows Gaddafi out of Libya. Duh! Libya had 143.8 tonnes of Gold and is (was) the ninth largest oil producer!
thestatedtruth.com | February 20, 2011
George Soros….whether you like him or hate him, he has earned our respect with his success over the years. He came to the U.S. as a poor boy, and has earned the wealth he has. Soros says Iran’s ruling regime will topple within the year, though he warned the situation there could become “very ugly†before this happens. Soros also […]
thestatedtruth.com | February 20, 2011
How Congressional Budget Cuts Will Effect California  Under the GOP House proposals, about $1.5 billion in federal funds for California would be trimmed, affecting such things as Pell grants, Head Start, K-12 education and rail projects. Reporting from Washington— University of California students would take a nearly $55-million hit from reductions in Pell grants. […]
thestatedtruth.com | February 20, 2011
Things are coming unglued in the Middle East as revolution is spreading like wildfires. The U.S. isn’t immune from this as we are seeing large protests in Madison Wisconsin over budget cuts that effect unions, entitlements and retirements. Just imagine what happens in California (if) the special election to extend temporary tax increases gets voted down in June! Massive budget cuts in California […]
thestatedtruth.com | February 19, 2011
Here is an interesting piece on Real Estate in this weeks Barron’s column Up and Down Wall Street…Â by ALAN ABELSON For most people, their house, be it ever so humble, is their largest single investment. (And all these years we’ve been suffering under the delusion that a house was, pure and simple, to live in. […]
thestatedtruth.com | February 19, 2011
The President ordered the cabinet to cut $100 million from the $3.5 trillion federal budget! So we thought a little perspective might be in order. In comparison, if I have about a $4,000 a month budget for groceries, medicine, bills, etc, and I cut my spending at exactly the same ratio – 1/35,000, here’s what I would be sacrificing…..after doing the […]
thestatedtruth.com | February 18, 2011
This could create a Black Swan set of events if it happens.  Looks like the Democrats are playing with Dominos…..and here’s the thing, they know it!  Speaking at a meeting of top aides to Congressional Democrats on Capitol Hill, an aide to former House Speaker Nancy Pelosi said that a government shutdown is likely and that Democrats need […]
thestatedtruth.com | February 18, 2011
Swine Flu Can Spread at ‘Unbelievable’ Rate: The WHO (World Health Organization) says the swine flu spreads four times faster than other viruses and 40 percent of the fatalities are young adults in good health, this according to top health officials. “This virus travels at an unbelievable, almost unheard of speed,†World Health Organization Director General […]
thestatedtruth.com | February 18, 2011
OK, let’s look at the options, the State of Wisconsin is broke,  and the Democrats and Republicans can’t agree on needed changes of things that were agreed to at a different time and under quite different circumstances 50 years ago. A state isn’t like a federal government in that it can’t print its own money, therefore they either do […]
thestatedtruth.com | February 17, 2011
A quick look at the second chart below shows why (interest on debt) the yellow area, is a sledge hammer to an economy. http://jessescrossroadscafe.blogspot.com/
thestatedtruth.com | February 17, 2011
Ok…We Believe You! Do The Democrats?   Talk Of Government Shutdown Increases  House Speaker John Boehner says he will not support a stopgap measure to continue funding the government at current levels — a solution that would give the House and Senate more time to resolve differences before funding dries up March 4.  When […]
thestatedtruth.com | February 17, 2011
Uh, Ok Chief…..What ever you say. Here’s a list of things that are not, repeat…are not a problem.  Our math must be a little sideways though, because just looking at the figures below seem to indicate that we (currently) look to have a BIG problem.   January 2009 TODAY % chg Source Avg. […]
thestatedtruth.com | February 17, 2011
Medicare, Medicaid and Social Security programs have ballooned to 57 percent of the government budget this year and are widely cited as the most significant contributors to the federal deficit.  By the way, this is something nearly all Americans want to see aggressively brought under control. But….Fifty-six percent of Americans oppose changes to Medicare benefits and 64 […]
thestatedtruth.com | February 17, 2011
An estimated 25,000 protesters showed up for this vote in Wisconsin….So is it a surprise that the workers don’t want to give up anything…No! It’s really the fault of the morons that negotiated these contracts for the state that, they are at fault. Obviously none of them ever passed a basic math class in college or this […]
thestatedtruth.com | February 17, 2011
We’ve been talking about this for a while….Rapidly rising food prices triggered the latest round of civil disorder around the world, as it did the first round during 2008. The picture may get bleaker over the next few years. Cumberland Advisors Khamsin February, 17, 2011 “This is not just a warm wind, but a dust-laden, suffocating […]
thestatedtruth.com | February 16, 2011
Mortgage Refinance Demand Lowest Since Summer of 2009…..This should be a sign to the wise. 02-16-2011 Mortgage application volume slipped 9.5 percent on a seasonally adjusted basis during the week ending February 11, according to the latest weekly survey from the Mortgage Bankers Association. On an unadjusted basis, the home loan application index was off […]
thestatedtruth.com | February 16, 2011
This review does a good job explaining the U.S. Government “ statistical magic” used in unemployment statistics. We can also call it Vodoo Economics. Benson’s Economic & Market Trends By: Richard Benson, SFGroup America continues to face a true national tragedy as tens of millions of unemployed people have been literally discarded because of big business […]
thestatedtruth.com | February 16, 2011
Producer prices in the U.S. climbed during January to their highest point in more than two years. And to think, the government says we have no inflation problem!  “We do not now have a problem…. Inflation made here in the US is very, very low”– Federal Reserve Chairman Ben S. Bernanke, February 10, 2011  […]
thestatedtruth.com | February 15, 2011
This is a must read for everybody.  It’s an outline of the future.  It doesn’t have to be right, but a good plan is better then a bad plan and any plan is better then no plan. Crisis High In 2011 By: Clif Droke  Posted Tuesday, 15 February 2011After two years of issuing “sell†ratings on equities and […]
thestatedtruth.com | February 15, 2011
This was a no brain’er, sooner or later you just knew the banks were going to want a larger down payment on the purchase of a house. How novel to think it might improve delinquencies….Inquiring minds say Duh. By S. MITRA KALITA   (From The Wall Street Journal) The down payments demanded by banks to buy homes have ballooned […]
thestatedtruth.com | February 14, 2011
Will the growing vacuum in power be filled by the Brotherhood? That’s the big risk here! Algeria shuts down internet and Facebook as protest mounts……. Internet providers were shut down and Facebook accounts deleted across Algeria on Saturday as thousands of pro-democracy demonstrators were arrested in violent street demonstrations. By Nabila Ramdani Plastic bullets and […]
thestatedtruth.com | February 13, 2011
Anyone that thinks the problems are over in the Mideast had better rethink things. Egypt is but one match in a box full of match sticks. Cairo, Egypt (CNN)— Egypt’s military dissolved the country’s Parliament and suspended its constitution Sunday following the ouster of longtime leader Hosni Mubarak, telling Egyptians it would be in charge […]
thestatedtruth.com | February 12, 2011
Gallup result is based on a 30-day rolling average; unlike the U.S. governments seasonal adjustment……  Gallup’s U.S. employment measures report the percentage of U.S. adults in the workforce, ages 18 and older, who are underemployed and unemployed, without seasonal adjustment. “Underemployed” respondents are employed part time, but want to work full time, or they are unemployed. […]
thestatedtruth.com | February 11, 2011
This had better be good, being that the baby boomers will be sellers and the youngsters are broke! The Obama administration unveiled a proposal Friday for winding down mortgage giants Fannie Mae and Freddie Mac, spelling out three options for what could take their place and setting the stage for a debate over the nation’s […]
thestatedtruth.com | February 11, 2011
 February 11, 2011 Egyptian Vice President Omar Suleiman delivered the following statement Feb. 11: “In the name of God the merciful, the compassionate, citizens, during these very difficult circumstances Egypt is going through, President Hosni Mubarak has decided to step down from the office of president of the republic and has charged the high […]
thestatedtruth.com | February 10, 2011
Real Estate mortgage rates heading the wrong way……. U.S. 30-year mortgage rates have jumped above 5% for the first time since last spring, in a rapid rise that could present a challenge to the still-troubled housing market. The average rate on 30-year fixed-rate mortgages climbed to 5.05% in the week ended Thursday, according to a […]
thestatedtruth.com | February 10, 2011
From Art Cashin on the floor of The New York Stock Exchange Deserving A Second Look – On Tuesday, Richard Fisher, President of the Dallas Fed spoke. The speech drew headlines on Mr. Fisher’s contention that he would be hard pressed not to dissent on any extension or expansion of QE2. It was suggested that […]
thestatedtruth.com | February 10, 2011
Here is a chart of the total number of employed Americans over the past ten years. Hmm, we heard there was a recovery going on….must have some wax in the ears, come again on that? Read more: http://www.businessinsider.com/when-recoverys-just-a-word-2011-2#ixzz1DbQLn3y6
thestatedtruth.com | February 9, 2011
According to the Office of the Comptroller of the Currency’s Quarterly Report on Bank Trading and Derivatives Activities for the Second Quarter 2010 (most recent), the notional value of derivatives held by U.S. commercial banks is around $223.4 TRILLION. Yep, that’s T as in Trillions! Five banks account for 95% of this. Can you guess […]
thestatedtruth.com | February 8, 2011
thestatedtruth.com | February 8, 2011
The following is part of an interview of Pimco’s El-Erain by Germany’s SPIEGEL . Here are a few of his key points…… In 2006 we undertook a very comprehensive U.S. housing study and we said this housing market is very unstable and investors should reduce their exposure and manage risk better. Nothing happened in 2006, and nothing happened […]
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