thestatedtruth.com | October 8, 2010
This is just the begining for government layoffs! Government payrolls decreased by 159,000 last month. State and local governments reduced employment by 83,000, while the federal government lost 76,000 jobs as census workers were fired. State and local governments from New Jersey to California are firing workers to balance their budgets as declining property values […]
thestatedtruth.com | October 7, 2010
Former Federal Reserve Chairman Alan Greenspan said the fiscal deficit in the U.S. is “scary†and the government needs to reduce entitlement programs. “We’re involved in a dangerous game,†Greenspan said today at a foreign-exchange conference in New York sponsored by Bloomberg LP, the parent of Bloomberg News. “We’re increasing the debt held by the […]
thestatedtruth.com | October 7, 2010
No surprise here, it’s called the prudent man’s rule! The only problem is the government isn’t leading by example. Consumer borrowing declined in August as Americans trimmed credit-card balances and remained reluctant to take on more debt as job losses climbed. Credit declined by $3.34 billion after falling a revised $4.09 billion in July. This was more […]
thestatedtruth.com | October 6, 2010
Former Federal Reserve Chairman Paul Volcker an adviser to President Barack Obama said he doesn’t expect consumer spending to spur growth, and the U.S. and other developed nations face the prospect of protracted joblessness. “This has not been an ordinary recession,†Volcker, 83, said today in a speech in Toronto. It’s “very difficult to find […]
thestatedtruth.com | October 6, 2010
July food stamps have just set a new all time high. According to the Supplemental Nutrition Assistance Program (SNAP) at the Food and Nutrion Service, July foodstamp usage rose 1.4% from June, hitting a new record of 41.8 million, and 17.5% higher than the 35.6 million on assistance from a year ago. Participation has set records […]
thestatedtruth.com | October 6, 2010
Today’s POMO is over: at $2.069 billion, the operation was right in line with expectations, coming in at a lofty 12.16 submitted to accepted ratio, as investors apparently are not too crazy about the yield perspective of the 4 2013 CUSIPs that were repruchased. However, what is far more important is that with holdings of […]
thestatedtruth.com | October 6, 2010
ICI’s latest weekly flow report confirms the 22nd weekly outflow from domestic mutual funds. In September $20 billion was pulled out from domestic stocks. Weekly: Cumulative:
thestatedtruth.com | October 6, 2010
 Chris Whalen (one of the top banking analysts): “Rising operating costs in banks will be more significant than in past recessions and could force the U.S. government to restructure some large lenders as expenses overwhelm revenue.â€Â “We are less than one-quarter of the way through the foreclosure process,†said Whalen, in remarks prepared for an […]
thestatedtruth.com | October 6, 2010
By DAVID STREITFELD and GRETCHEN MORGENSON Published: October 6, 2010 The uproar over bad conduct by mortgage lenders intensified Tuesday, as lawmakers in Washington requested a federal investigation and the attorney general in Texas joined a chorus of state law enforcement figures calling for freezes on all foreclosures. Representative Nancy Pelosi, the House speaker, and […]
thestatedtruth.com | October 6, 2010
Middle Class Slams Brakes on Spending    By SARA MURRAY Middle-class Americans made their deepest spending cuts in more than two decades, slashing spending on such discretionary items as restaurant meals and alcohol during the recession. Households in the middle fifth of the population sliced their average annual spending to $41,150 in 2009, the Labor […]
thestatedtruth.com | October 6, 2010
The IMF said global growth will slow more than expected as advanced economies slash budgets amid a continuing sovereign debt crisis.
thestatedtruth.com | October 5, 2010
October 5, 2010  The game of musical chairs is played with more than one entrant. The players have to focus on the whole group. Contestants gauge their positions as they go around and around. Only when the music stops is the outcome known.  In the US, many investors tend to focus on our […]
thestatedtruth.com | October 5, 2010
From Art cashin on the floor of  The New York Stock Exchange…… Not Quite What They Seem – Our UBS pal in London, Andy Lees, put out an eye-opening piece on China this morning. Andy sees China becoming more vulnerable because of their growing energy dependence. The piece is too big to fully reproduce but […]
thestatedtruth.com | October 1, 2010
By ALAN ZIBEL October 1, 2010 WASHINGTON -Â Bank of America is delaying foreclosures in 23 states as it examines whether it rushed the foreclosure process for thousands of homeowners without reading the documents. The move adds the nation’s largest bank to a growing list of mortgage companies whose employees signed documents in foreclosure cases […]
thestatedtruth.com | September 30, 2010
September 30, 2010 Â Â The Eiffel Tower was evacuated Sept. 28 after an anonymous bomb threat against the symbolic Parisian tourist attraction was phoned in; no explosive device was found. The day before the Eiffel Tower threat, French authorities closed the Gare Saint-Lazare in central Paris after an abandoned package, later determined innocuous, was […]
thestatedtruth.com | September 29, 2010
Money flows have shown limited effects on markets recently. The Government and trading robots are now in total control. This unusual minimal negative effect would not have happened in the 1970-2000 markets.  ICI has just reported that in the week ended September 22, domestic equity mutual funds saw a 21st sequential outflow of $2.5 billion, bringing the total Year To Date […]
thestatedtruth.com | September 29, 2010
People with a credit score below 620 who want a loan were unlikely to receive even one quote, according to real-estate web site Zillow.com, even if they offered a down payment of 15%-25% for a home. Zillow notes that 29% of Americans have a credit score this low, according to data provided by myFICO.com. “Today’s […]
thestatedtruth.com | September 29, 2010
Thoughts from Art Cashin on the floor of The New York Stock Exchange “The months of May and October have always broken hearts on Wall Street. In fact when I studied under the Moose Head (at Eberlins) it was a frequent subject. Prior to 1929 it was almost logical. We were an agrarian society and […]
thestatedtruth.com | September 28, 2010
The City Council of Harrisburg, capital of Pennsylvania has voted to hire lawyers to explore bankruptcy protection. The City Council voted 5-2 tonight to seek professional advice on bankruptcy or state oversight. Harrisburg needed state aid to avoid default on $3.3 million of bond payments this month. The city, which has 47,000 residents, and has missed […]
thestatedtruth.com | September 28, 2010
September 28,2010 Stephen Ohlemacher Associated Press     WASHINGTON – A group of 47 House Democrats are telling party leaders they want to continue Bush-era tax cuts on investment income, breaking ranks with President Barack Obama and exposing divisions among Democrats over their party’s pre-election message about taxes. The lawmakers, led by Rep. John Adler, D-N.J., have […]
thestatedtruth.com | September 28, 2010
The Conference Board’s sentiment index declined to 48.5 this month, lower than the median forecast of economists surveyed by Bloomberg News and the weakest level since February, according to figures from the New York-based private research group today. In another report home prices cooled, hurt by a slump in sales following the end of a […]
thestatedtruth.com | September 27, 2010
Heightened Terror Threats In Europe WASHINGTON….. In an effort to preempt a suspected terrorist plot(s) against European targets, the Central Intelligence Agency has targeted missile strikes against militants in Pakistan’s tribal regions, according to current and former officials. The strikes, launched from unmanned drone aircraft, represent a rare use of the CIA drones to preempt a possible […]
thestatedtruth.com | September 27, 2010
It looks like we could have saved the U.S. tax payers a few trillion dollars if the government would have realized the basics of the problems a year and a half ago! New World Thinking: The government can save everything. Reality: The government can’t save anything but will try, in the process it will usually make things worse!  Paul Krugman […]
thestatedtruth.com | September 26, 2010
Let’s be careful what we wish for here, as this sets up a dangerous precedent of a new type of worldwide cyber warfare in the future.  TEHRAN, Iran—A complex computer worm capable of seizing control of industrial plants has affected the personal computers of staff working at Iran’s first nuclear-power station weeks before the facility is to […]
thestatedtruth.com | September 26, 2010
Thoughts from the Frontline Weekly Newsletter  Pushing on a String   by John Mauldin September 24, 2010 In this issue: Pushing on a String Let’s Shift the Focus An Invitation to an Inflation Party Ten Years and Counting This week the Fed altered their end-of-meeting statement by just a few words, but those words have […]
thestatedtruth.com | September 24, 2010
Two years after the financial crisis, the federal government has stepped in to stabilize a crucial part of the credit-union sector knocked down by losses on subprime mortgages. A summary of an article from the Wall Street Journal is reviewed below. Regulators announced Friday a rescue of the nation’s wholesale credit unions, underpinned by a federal guarantee valued at $30 billion […]
thestatedtruth.com | September 23, 2010
According to David Rosenberg of Gluskin Sheff: Wages & salaries are still down 3.7% from the prior peak; Corporate profits are still down 20% from the peak; Real GDP is still down 1.3% from the peak; Industrial production is still down 7.2% from the peak; Employment is still down 5.5% from the peak; Retail sales […]
thestatedtruth.com | September 23, 2010
Is there a message to Congress in this! House Republicans announced a governing agenda today that would cut federal spending, extend expiring tax cuts and repeal the Democrats’ health-care law. The program was released by party leaders at a hardware store in Sterling, Virginia, as Republicans make their case to voters to retake the House […]
thestatedtruth.com | September 23, 2010
Sorry, But The Answer Of Too Much Debt Is Not More Debt In Price Is Knowledge If you told Rip van Bondtrader that gold had risen to a record during his decade-long slumber, he’d want to know what the inflation outlook was, and how badly he’d gotten killed on his bond investments. He’d be astonished to […]
thestatedtruth.com | September 23, 2010
This May Be Just The Begining As The Entire World Slows! It’s A Process…..And It Will Likely Take Time To Totally Unfold.  U.S. Jobless Claims Jump The number of U.S. workers filing new claims for jobless benefits unexpectedly rose by 12,000 to 465,000 last week, as labor weakness persists. Ireland GDP Drops Unexpectedly Ireland had a surprise decline in its second-quarter […]
thestatedtruth.com | September 22, 2010
The stock market is now virtually unchanged in 2010, even as almost $80 billion in equity-capital has been withdrawn.  So here is the question: How is this possible? Well….it’s a deep subject and we don’t know! 20’th Consecutive Week Of Outflows Beginning on May 5, there have been 20 consecutive outflows from domestic mutual equity funds. […]
thestatedtruth.com | September 22, 2010
Next up….Currency evolved hyper inflation caused by the Fed’s actions to save the world, as the dollar becomes worth much less and commodities without debt attached go vertical (such as food, gold, silver, farm land etc.).  The only real question seems to be when, not if.  In the U.S. we are trying to work through the legacy of accumulating lots […]
thestatedtruth.com | September 22, 2010
Talk about tough times out there, this shopping habit says it all. Bloomberg: Wal-Mart CEO “I don’t need to tell you that our cusÂtomer remains challenged…You need not go farther than one of our stores on midnight at the end of the month. And it’s real interesting to watch, about 11 p.m. customers start to come […]
thestatedtruth.com | September 20, 2010
“An incredible 14% of the nearly 54 million first liens in the country are now either delinquent or in default” the Real Estate Channel’s Keith Jurow, observes. “To come up with a total for the shadow inventory, let’s first add the total number of loans in default to those delinquent 90 days or more since […]
thestatedtruth.com | September 20, 2010
According to calculations from the Federal Reserve, household wealth tumbled a whopping $17 trillion during the crisis – or about 27%. Since the depths of the crisis, however, Americans have recovered about $5 trillion of household wealth. Only $12 trillion to go! For perspective, $12 trillion is nearly equal to one year’s US GDP. It’s […]
thestatedtruth.com | September 18, 2010
The End of Social Security As We Know It By Ian Mathias Baltimore, Maryland On September 30, America will quietly begin a generational shift. This will be the final day of the government’s fiscal year 2010, and consequentially, a very notable day for Social Security. September 30 will be the last day – maybe for […]
thestatedtruth.com | September 18, 2010
Gary Shilling In terms of spending and saving, note that whatever has been going on in the consumer arena has been supported by massive federal stimuli. Those stimuli may persist at near current levels in future years due to chronic high unemployment, as noted in earlier Insights, but seems unlikely to rise at the rates […]
thestatedtruth.com | September 18, 2010
By Gary Shilling Consumers Go On Strike It wasn’t until late 2008 that we had the collapse in home equity as house prices nosedived (Chart 2), rising layoffs (Chart 3) and the drying up of consumer lending drove consumers into retrenchment. But they suddenly went on a buyers strike in the last four months of 2008, […]
thestatedtruth.com | September 17, 2010
The median expected investment return for more than 100 U.S. public pension plans surveyed by the National Association of State Retirement Administrators remains 8%, the same level as in 2001  “It’s unrealistic,” according to John Bogle, founder of mutual fund giant Vanguard.  He says the return assumptions in place at most pension plans can’t be meet. […]
thestatedtruth.com | September 17, 2010
By Bloomberg News September 17, 2010 The best returns in commodities over the next 12 months will probably be in energy and the biggest losses in agriculture, Goldman Sachs Group Inc. said. The bank is forecasting a 27 percent advance in energy over 12 months, a 17 percent jump in precious metals and a 15 […]
Coming Soon
bank owned banks congress consumer credit debt Economy education equity fund flow data food stamps foreclosures Free Money gdp gold Government Greece housing inflation Interest rates japan Middle East Money mutual fund outflows net worth new normal Oil pensions PIMCO politics Quote of the Day Real Estate Recession retirement Rich Rich man spending stock market Student Loans taxes tid bits unemployment Wall Street war Wealth Wealthy weather
Copyright © 2026 The Stated Truth
