thestatedtruth.com | August 5, 2010
The 30 year Freddie Fixed Rate Mortgage has just printed under4.50%, at 4.49%: a  new all time record low. Japan has already watched this movie…….It doesn’t matter at what rate the mortgage is, but more importantly for now is the security of having 1) cash flow and 2) a job. Both seem to be in short supply […]
thestatedtruth.com | August 5, 2010
Hmm…….There really are free lunches! Boston.com says it all: “The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday. Recipients of Supplemental Nutrition Assistance Program subsidies for food purchases jumped 19 percent from a year earlier […]
thestatedtruth.com | August 5, 2010
These two companies Fannie Mae and Freddie Mac could very well lose money forever! At some point the government has to just say enough of this and either shut both of them down, or require higher down payments on home purchases to protect their assets. Simple as that!  By  Lorraine Woellert         Thursday August 05, 2010 Fannie Mae, […]
thestatedtruth.com | August 5, 2010
Jim Sinclair says….Nothing has been cured and the potential for a second and more shocking economic event is real and in the present time! Posted August 05, 2010    By Min Zeng NEW YORK (Dow Jones)–The total outstanding notional amount for all interest rate derivative transactions reported by the 14 major dealers including Goldman Sachs & […]
thestatedtruth.com | August 5, 2010
By Tami Luhby, Senior Writer Posted August 5, 2010 NEW YORK (CNNMoney.com) — The Senate overcame a key procedural hurdle Wednesday to send $26 billion more in federal aid to cash-strapped states. The measure, which passed by a 61-38 vote, contains $16.1 billion in additional Medicaid money and $10 billion to prevent layoffs of teachers […]
thestatedtruth.com | August 4, 2010
 Source: CREonline Does the above chart look daunting? It should. The peak won’t hit until 2012 when nearly $350 billion in CRE loans will come due. And just look at the amount held by banks and thrifts. This is why predicting another 1,000 bank failures (at least) is within the cards. The connections between […]
thestatedtruth.com | August 4, 2010
Well plugged…..Let’s hope so. ON THE GULF OF MEXICO — In a significant step toward stopping the worst offshore oil spill in U.S. history, BP said Wednesday mud that was forced down its blown-out well was holding back the flow of crude in the Gulf of Mexico and it was in a “static condition.” There is […]
thestatedtruth.com | August 4, 2010
General Motors Co. and Ford Motor Co. reported U.S. sales in July that trailed analysts’ estimates as consumers concerned about the economy limited large purchases. Toyota Motor Corp. and Nissan Motor Co. topped expectations. GM’s sales rose 1.5 percent, including an adjustment for the number of selling days in July. On that basis, the largest […]
thestatedtruth.com | August 4, 2010
Contracts for pending sales of previously owned U.S. homes fell to a record low in June as buyers sat on the sidelines, a survey from the National Association of Realtors showed on Tuesday. The June decline followed a 30 percent drop in May after a popular tax credit expired at the end of April. The […]
thestatedtruth.com | August 4, 2010
By Bloomberg News – Aug 4, 2010 China’s banking regulator told lenders last month to conduct a new round of stress tests to gauge the impact of residential property prices falling as much as 60 percent in the hardest-hit markets, a person with knowledge of the matter said. Banks were instructed to include worst-case scenarios […]
thestatedtruth.com | August 3, 2010
By Jim Polson and Katarzyna Klimasinska – Aug 3, 2010 BP Plc started plugging its Gulf of Mexico oil well with drilling mud, another step in the company’s effort to permanently seal the source of history’s worst accidental oil spill. BP began pumping mud into the top of the well for its “static kill†operation […]
thestatedtruth.com | August 3, 2010
thestatedtruth.com | August 2, 2010
 Key Elements Of This Article Are: In the United States, the Fed’s latest Survey of Consumer Finances revealed that current or close retirees have roughly $50,000 of retirement savings, excluding the now questionable equity in their homes. Those born before in a macabre sense, the financial crisis couldn’t have been better timed, if it […]
thestatedtruth.com | August 2, 2010
SULTANS OF SWAP: Gold Swaps Signal the Roadmap Ahead BIS – The Super SIV Solution The news rocked the global gold market when an almost obscure line item in the back of a 216 page document released by an equally obscure organization was recently unearthed. Thrust into the unwanted glare of the spotlight, the little […]
thestatedtruth.com | August 1, 2010
Why this is the Titanic and the life boats have already been launched! The household debt/income ratio is (still) near record highs of 120% and one-quarter of the consumer universe has a sub-600 FICO score – which means they are ineligible for Fannie or Freddie mortgage financing. The banks have few opportunities to lend – households […]
thestatedtruth.com | August 1, 2010
Here are some of the comments from Alan Greenspan on NBC’s “Meet The Press”.  We should keep in mind that Alan Greenspan told congress a year or two back that his “model” was broken! Joshua Zumbrun        August 1, 2010 “We’re in a pause in a recovery, a modest recovery, but a pause in the modest recovery […]
thestatedtruth.com | July 31, 2010
The economy of the U.S. grew at a weaker than expected 2.4% in the second quarter, but the first quarter was revised back up to 3.7% on the strength of stronger-than-projected inventory rebuilding. But the recession years were revised downward rather significantly for this late in the cycle. We find now that the recession was […]
thestatedtruth.com | July 30, 2010
Posted Friday July 30,  2010 By: David A. Patten Former GOP House Speaker Newt Gingrich warned Thursday that President Obama and congressional Democrats appear to be on the verge of repeating the same mistakes that aggravated the Great Depression, adding that letting the Bush tax cuts expire would prove “very dangerous” for the nation’s economy. Speaking […]
thestatedtruth.com | July 30, 2010
Hint……this is not a pretty picture! Posted from zerohedge.com Exerts from a Goldman review are shown below. The chart below provides an integrated look at the GDP growth impact of fiscal policy at the federal, state, and local level.  These numbers are based on our current assumptions that (1) Congress will not extend emergency unemployment benefits beyond the […]
thestatedtruth.com | July 29, 2010
Exerts from:             Bill Gross    Investment Outlook    August 2010 Observers will point out, as shown in the following chart, that global population growth rates have been declining since 1970 with no apparent ill effects. True, until 2008, I suppose. The fact is that since the 1970s we have never really experienced a secular period during which […]
thestatedtruth.com | July 29, 2010
Broken Financial Generations – U.S. households only have a median of $2,000 saved in retirement accounts. The median net worth for those 25 to 34 is $3,700. Which generation will support the economy going forward? Social Security beneficiaries make up 19 percent of all Americans.     This is setting up a big problem.  The demographics of the […]
thestatedtruth.com | July 28, 2010
By Alex Kowalski – Jul 28, 2010 Pacific Investment Management Co.’s Bill Gross said deficit spending by governments that seek to maintain artificial levels of consumption “can be compared to flushing money down an economic toilet.†Without acceleration in population growth, developed countries finance more consumption to maintain economic growth, the world’s biggest bond-fund manager […]
thestatedtruth.com | July 27, 2010
This means each additional dollar of debt is now working its way into a negative muliplyer effect on our economy….not to long ago, it had just the opposite effect, the more debt, the more we would grow. Now at some point going forward, a hiccup in the trillions of dollars of derivatives will set off a domino effect of defaults, […]
thestatedtruth.com | July 27, 2010
Just a reminder…… Jim Rogers was George Soro’s original partner for the Quantum Fund. Both are now billionaires! Robert Shiller, co-creator of the Standard & Poor’s/Case-Shiller house price index, also warned that the next downturn may come, maybe even sooner. By James Quinn, US Business Editor Published 27 Jul 2010 Mr Rogers, the respected currency trader and hedge […]
thestatedtruth.com | July 27, 2010
U.S. local governments may cut almost 500,000 jobs through next year to cope with sliding property taxes, a decline in state and federal aid and added need for social services, according to a report released today. The report, a result of a survey by the National League of Cities, the U.S. Conference of Mayors and […]
thestatedtruth.com | July 27, 2010
About 18.9 million homes in the U.S. stood empty during the second quarter as surging foreclosures helped push ownership to the lowest level in a decade. The number of vacant properties, including foreclosures, residences for sale and vacation homes, rose from 18.6 million in the year-earlier quarter, the U.S. Census Bureau said in a report […]
thestatedtruth.com | July 27, 2010
This is going to be the new normal……specifically the savings part! American consumers lost confidence in July, shaken by mounting concern over jobs and wages that threatens to constrain the economic recovery. The Conference Board’s sentiment index fell to 50.4, below the median forecast of economists surveyed by Bloomberg News and the lowest level in five months. […]
thestatedtruth.com | July 24, 2010
 About 31 percent of U.S. oil output and about 10 percent of gas production, comes from the Gulf of Mexico according to the Energy Department By Dan Hart – Jul 24, 2010 Bonnie has degenerated to a “disorganized area of low pressure†near the U.S. Gulf Coast, hours after the National Hurricane Center lifted […]
thestatedtruth.com | July 24, 2010
THIS MAY BE THE ONLY THING GLOBAL ECONOMIES OF THE WORLD HAVE TO LOOK FORWARD TO.  IN THE END, EVERYONE WILL BE WORSE OFF.  GOLD ANYONE? Gloom, Boom and Doom publisher Marc Faber says the Fed will begin “massive†quantitative easing by October.  “The economy is not robust,†Faber told Bloomberg. “We have mixed signals, but […]
thestatedtruth.com | July 24, 2010
By John Mauldin July 24, 2010 Â The Elements of Deflation Just as every school child knows that water is formed by the two elements of hydrogen and oxygen in a very simple combination we all know as H2O, so deflation has its own elements of composition. Let’s look at some of them (in no […]
thestatedtruth.com | July 22, 2010
 By Lydia Saad   PRINCETON, NJ — Gallup’s 2010 Confidence in Institutions poll finds Congress ranking dead last out of the 16 institutions rated this year. Eleven percent of Americans say they have “a great deal” or “quite a lot” of confidence in Congress, down from 17% in 2009 and a percentage point lower than […]
thestatedtruth.com | July 22, 2010
  * Louisiana declares state of emergency  * U.S. officials evaluating whether to evacuate area  Thu Jul 22, 2010 By Kristen Hays and Anna Driver HOUSTON, July 22 (Reuters) – BP Plc (BP.L) (BP.N) oil spill workers in the Gulf of Mexico prepared for a possible evacuation on Thursday as a tropical storm threatened […]
thestatedtruth.com | July 20, 2010
Source: Institute for Policy Studies The above shows a solid plutocracy is already here. Wealth is the key issue. As many people are now finding out simply having a massive home with a jumbo mortgage and a leased foreign car is no sign of wealth. In fact, that can be taken from you quickly (and […]
thestatedtruth.com | July 20, 2010
For decades the idea was that you can spend more than you earn. This came all the way from the top so it shouldn’t be a surprise that many in the middle class took their signal from their leaders. What happened? Source: Lew Rockwell The personal savings rate went so low that it went from […]
thestatedtruth.com | July 20, 2010
Interesting happenings between U.S. government and BP………….A standoff between BP and the US government over the handling of the stricken Macondo well in the Gulf of Mexico continued with a sharp exchange of words over the best way to keep the oil contained .   At the heart of the dispute is anxiety about what is […]
thestatedtruth.com | July 20, 2010
Write up from Byron Wein…………”The Smartest Man In Europe” Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Commentary courtesy of www.fmxconnect.com We recently came across an interesting piece from Blackstone on the European Stimulus and the road to recovery. Bryon Wein is a well known strategist. The most salient points are outlined below: No clear way out of the enormous debt burden […]
thestatedtruth.com | July 19, 2010
July 19 (Bloomberg) — Billionaire investor George Soros said U.S. lawmakers should refrain from withdrawing stimulus measures because the economy hasn’t strengthened enough.“I think the timing is wrong with withdrawing the stimulus,†Soros said at the Hamptons Institute in East Hampton, New York on July 16. “Cutting employment benefits, cutting aid to states that are […]
thestatedtruth.com | July 18, 2010
Must listen interview of Matt Simmons. Absolutely a must listen interview. He is not sure a trillion dollars will be enough to clean up the Gulf!   Simmons thinks British Petroleum is a dead company walking. http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/7/17_Matt_Simmons.html
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