thestatedtruth.com | January 18, 2011
Dr Joe Duarte has a good feel for this…..With states cutting budgets across the board, where is the growth going to come from? In San Diego an interesting fight between the city and its unions is developing that could set the stage for how things work out in other places with similar problems. According to […]
thestatedtruth.com | January 18, 2011
This morning, we see Britain’s consumer price index grew in December to an annualized 3.7%. Fuel prices are growing at their fastest pace since July, and food prices are rolling at a rate last seen in May 2009. Like the U.S. Federal Reserve, the Bank of England has an inflation “sweet spot†of 2%. But Britain’s […]
thestatedtruth.com | January 18, 2011
We’ve been talking about this for a while here at TheStatedTruth.com …….. U.S. public pensions face a shortfall of up to $2.5 trillion, yes trillion.  It will force state and local governments to sell assets and make deep cuts to services, according to the former chairman of New Jersey’s pension fund. “States face cost pressure, most prominently […]
thestatedtruth.com | January 17, 2011
This read actually makes a lot of sense, and it takes the government out of the picture. We would add one more thing….. that is for most mortgages to be assumable like they used to be. The negative short term draw back is that like everything the government gets involved with, once they leave, there will […]
thestatedtruth.com | January 16, 2011
thestatedtruth.com | January 16, 2011
Expected tomorrow…. “Approximately 40 politicians” will be included in the next WikiLeaks release. The list will include “high net worth individuals, multinational conglomerates and financial institutions – hedge funds”.  They are said to be “using secrecy as a screen to hide behind in order to avoid paying tax”. They come from the US, Britain, Germany, Austria and […]
thestatedtruth.com | January 14, 2011
From the one and only Art Cashin on the floor of The New York Stock Exchange! On this day in 1886, a major American symbol was saved from almost not being a major American symbol. Actually, it was saved from being saved and thus became a major American symbol. We’ll restate all that in English….. […]
thestatedtruth.com | January 14, 2011
This may happen, but one would think it is more likely to be the by product of a devastating earthquake. California has more risk of catastrophic storms than any other region in the country – even the Southern hurricane states, according to a new study released Thursday. The two-year study by the U.S. Geological Survey is the most […]
thestatedtruth.com | January 14, 2011
This can only go so far as the consumer is still over indebted and over taxed, while being hit with inflation (the government says no inflation) and flat earning power! Debt (other than homes) still has to be payed back at some point and time. U.S. banks are expanding their loans to consumers for the first […]
thestatedtruth.com | January 14, 2011
This from Art Cashin on the floor of The New York Stock Exchange……..Basically the government doesn’t get it!  Last Friday, speaking in Germany, [European Central Bank President] Jean-Claude Trichet said it best: “Monetary policy responsibility cannot substitute for government irresponsibility.†Fiery Fedspeak –There were some interesting comments from several Fed presidents yesterday. One eye-opener came […]
thestatedtruth.com | January 13, 2011
Self explanatory.  A picture is worth…$1.230 Trillion dollars!
thestatedtruth.com | January 13, 2011
ICI just revised the last two data points of 2010 which were originally inflows, to one outflow and one minimal inflow.  Looking at last week’s flows, the first of the new year 2011 starts with an equity outflow of $4.2 billion and was the largest one week outflow since early October!
thestatedtruth.com | January 11, 2011
Rising food inflation sparked violence across the Middle East and South Asia over the weekend. Why?…. Demonstrators were protesting the high cost of staple commodities like sugar, rice and milk.  The outbursts have triggered fears that the world is due for a revisit of the 2008 food protests that rocked many countries. Food prices are now […]
thestatedtruth.com | January 11, 2011
Are they kidding….No!  There are 60,000 pages in the current tax code…..Tax reform anybody? How many college educated people do you know that do their own taxes, let’s rephrase that…how many have a tax professional do the job, go ahead…raise your hands….anybody out there without a hand up? How about that!
thestatedtruth.com | January 11, 2011
LONDON – WikiLeaks will step up its publication schedule of secret documents, founder Julian Assange announced Tuesday, promising more revelations based on the group’s stash of confidential U.S. embassy cables and other leaks. “We are stepping up our publishing for matters related to Cablegate and other materials, “Those will shortly be occurring through our newspaper […]
thestatedtruth.com | January 10, 2011
If this is plan B, inquiring minds wonder what plan C would look like! In what may one day be heralded as the formal proposal that proverbially started it all, the Commonwealth of Virginia introduced House Resolution No. 557 to establish a joint subcommittee to “to study whether the Commonwealth should adopt a currency to […]
thestatedtruth.com | January 10, 2011
Push will turn into a shove…..Turn out the lights, the party is over!  Meredith Whitney’s prediction, which everyone was quick to mock and ridicule, is about to come back with a vengeance. State and Local finances are at risk. This idea is likely to pick up steam along the way. Some unpleasant news for pensioned […]
thestatedtruth.com | January 9, 2011
This is why Gold and Silver has been sought by the smart money! Brazil has warned that the world is on course for a full-blown “trade war†as it stepped up its rhetoric against exchange rate manipulation. Guido Mantega, finance minister, told the Financial Times that Brazil was preparing new measures to prevent further appreciation of […]
thestatedtruth.com | January 9, 2011
Next up, California……Illinois just kicked the can down the road, there is no chance this tax will ever go back to where it was. None, Not’a, Zippo, Zero……You get the point. SPRINGFIELD, Ill. (CBS) – Gov. Pat Quinn and the leaders of both houses of the Illinois General Assembly have agreed on raising the state income […]
thestatedtruth.com | January 8, 2011
Economy on a roll, then a again maybe not…..Dave Rosenberg of Gluskin Sheff  discussed with Barron’s three key current takeaways that prompt current concern. They are: 1. The fact that the workweek remains stuck at 34.3 hours for the third week in a row, and history tells us that hours are a forward-looking barometer of labor demand. 2. State and […]
thestatedtruth.com | January 7, 2011
Uh….so will this really matter, other then the banks paying a bunch of lobbyists another billion dollars to fix things? Inquiring minds want to know! Wells Fargo & Co. and U.S. Bancorp  lost a foreclosure case in Massachusetts’s highest court that will guide lower courts in that state and may influence others in the clash between […]
thestatedtruth.com | January 7, 2011
Let’s call a spade, a spade. Seriously….this is a “HOT POTATO” to the tenth degree! Federal Reserve Chairman Ben Bernanke on Friday ruled out a central bank bailout of state and local governments hung with big municipal debt burdens, saying the Fed had limited legal authority to help. Bernanke: If municipal defaults do become a problem, it would […]
thestatedtruth.com | January 7, 2011
Total consumer credit increased modestly in line with expectations for November while revolving credit decreased by $4.2 billion, and non-revolving credit showed an increase of $1.3 but was down from a higher number of $5.7 billion in October. And…..Lending by the federal government for student loans continued to climb, benefiting from a law passed by Congress that makes the government […]
thestatedtruth.com | January 6, 2011
CNBC interviews PIMCO’s Bill Gross……….Bill says that U.S. incomes will lag both commodity prices and Gold as U.S. debt rises about a trillion dollars every 12 months and debt to GDP rises above the 90-95% level in the next few years.
thestatedtruth.com | January 5, 2011
I never new….as the old saying goes! From The Guardian: The abundance of four common species of bumblebee in the U.S. has dropped by 96% in just the past few decades, according to the most comprehensive national census of the insects [a three-year study published in the Proceedings of the National Academy of Sciences]. *** […]
thestatedtruth.com | January 5, 2011
According to just released Census Bureau data, in 2009 total state revenue fell by 31%, from $1.6 trillion to $1.1 trillion. “The large decrease in total revenue was mainly caused by the substantial decrease in social insurance trust revenue. Social insurance trust revenue is made up of four categories — public employee retirement, unemployment compensation, workers […]
thestatedtruth.com | January 5, 2011
Global food prices hit a record high in December and are favored to continue rising in the year ahead due to inclement weather.  Can food riots that broke out around the world when prices last surged in 2008 be far behind?
thestatedtruth.com | January 4, 2011
House Republican leaders said Tuesday that highway and mass-transit programs should no longer be shielded from budget cuts! It immediately drew fire from the states, and the U.S. Chamber of Commerce. Republican House Speaker John Boehner and his leadership team will start work Wednesday to make good on promises to cut $100 billion or more from annual federal […]
thestatedtruth.com | January 4, 2011
China’s growth between now and 2015 is going to be epic, and many industries focusing on the consumer are going to benefit, according to Credit Suisse. The top 5 growth industries through 2015 are: E-Commerce (set to grow 400%!) Outstanding Corporate Bonds Life Insurance Wealth Management Personal Computer Sales Industries like footwear sales and healthcare […]
thestatedtruth.com | January 3, 2011
The backlash is coming,…front row, center court! From The Wall Street Journal….. Illinois lawmakers are considering sweeping legislation that would link teacher tenure to student test scores, make it easier to fire ineffective teachers and curb teachers’ right to strike. The measure, debated during a Senate panel hearing Monday, moves Illinois to the forefront of […]
thestatedtruth.com | January 2, 2011
The United States and its leaders are stuck in what is called a predicament. They need the economy to improve in order to generate jobs, but the economy can only improve if people have jobs…. They need the economy to recover in order to improve our deficit situation, but if the economy really recovers long term […]
thestatedtruth.com | January 2, 2011
Here in lies the problem….Fred Siegel, a historian at the conservative-leaning Manhattan Institute, has written of the “New Tammany Hall,†which he describes as the alliance between public officials and labor. “Public unions have had no natural adversary; they give politicians political support and get good contracts back,†“It’s uniquely dysfunctional.†In California, pension costs […]
thestatedtruth.com | January 2, 2011
It should be a national law that the IDIOTS running things at least understand basic math! If so, we wouldn’t be in this mess now. This sets the table…..you can’t go back to 2008 spending levels and still see growth in the economy. Plain and simple! On the other hand, we can never grow our […]
thestatedtruth.com | January 1, 2011
TrimTabs’ Charles Biderman reviews fund flows below….says this will end badly once QE2 ends unless we have endless quantitative easing  forever! Hmm, endless QE, now there’s an idea that only the government could conceive of! Equity fund flows were mixed. Global equity funds posted a respectable inflow of $87 billion in 2010, up modestly from $62 billion in […]
thestatedtruth.com | January 1, 2011
The question is, if consumption drops 5%, where is the growth going to come from? Doesn’t that mean that somebody else needs to raise consumption? Well, yes…..Whom might that be, inquiring minds want to know! Maybe the usual suspects, China, India, Brazil etc….then again will that make up for the U.S. and Europe drop because of austerity measures….um, […]
thestatedtruth.com | December 30, 2010
WASHINGTON (MarketWatch) — The number of U.S. workers filing new applications for jobless benefits fell below the key 400,000 level in the most recent weekly data, released Thursday, in a signal that the labor market is continuing to mend.  “Initial claims can be very volatile around year-end due to seasonal adjustment difficulties related to the […]
thestatedtruth.com | December 29, 2010
ICI reports U.S. domestic equity funds saw an inflow of $335 million for the first time in 34 weeks. This compared with last week’s $2.4 billion outflow. So after pulling money for 33 consecutive weeks, and withdrawing over $98 billion in capital from domestic equity mutual funds, the record has ended. Muni bonds are now the […]
thestatedtruth.com | December 29, 2010
Italy’s borrowing costs have surged back to financial crisis levels and the country is now looking like a proper member of the eurozone’s fringe, according to Ambrose Evans-Pritchard. Â The yield on Italy’s 10-year bond is now at 4.86% and, combined with weakening monetary supply data, Italy now looks destined for a downturn similar to […]
thestatedtruth.com | December 28, 2010
Gene Inger’s Daily Briefing . . . for Wednesday December 29, 2010:  Good evening;  The ‘Insolvent Age’ . . .well-describes the overall risk faced in 2011, which if viewed with full transparency, has risk of making a so-called ‘new normal’ seem comfortable. There are warning flags galore flying; and the irony is it […]
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