thestatedtruth.com | June 23, 2010
Something Broke: Containment Cap Removed From BP Oil Leak After Problems Encountered; Large Increase In Spill Rate…… By Tyler Durden on 06/23/2010 The U.S. Coast Guard said there may be 2 deaths, but the oil flow is not completely unrestrcited, and some oil was being burned off on the surface. More at: www.zerohedge.com Click on image for […]
thestatedtruth.com | June 23, 2010
As a general rule, what’s bad for Europe is usually bad for the U.S. eventually! Billionaire investor George Soros said continental European banks haven’t been “properly cleansed†after the credit crisis because they haven’t marked the value of their holdings to market prices. “The current crisis is more a banking crisis than a fiscal one,†[…]
thestatedtruth.com | June 22, 2010
I guess we could say CalPERS (California Public Employees’ Retirement System) is just plain unlucky….either that or they’re plain stupid. Maybe a little of both. After dropping a quarter of the value (and that’s being generous, it may be greater) of its $200-billion portfolio during the recession of 2008 and 2009, the country’s largest public pension fund is […]
thestatedtruth.com | June 22, 2010
June 22, 2010  By Andrew Atkinson June 22 (Bloomberg) — British Chancellor of the Exchequer George Osborne increased the value-added tax rate to 20 percent from 17.5 percent in the first permanent change to the levy on sales of goods and services in almost two decades. “The years of debt and spending make this unavoidable,†[…]
thestatedtruth.com | June 22, 2010
This mention from Art Cashin, Cashin’s Comments from the floor of The New York Stock Exchange………. That Looming Weekend Cycle – We mentioned last week that there was a bit of a buzz around the floor about a cycle of some kind that was to kick in this coming weekend. We nosed around trying to get […]
thestatedtruth.com | June 22, 2010
Submitted by Tyler Durden on 06/22/2010 President Obama and Secretary of Interior Ken Salazar, Secretary of Energy Steven Chu, and Defense Secretary Robert Gates were informed that BP would drill an unprecedented 35,000 feet well bore at the Macondo site off the coast of Louisiana. In September 2009, the Deepwater Horizon successfully sunk a well […]
thestatedtruth.com | June 21, 2010
The problems for commercial real estate are deep and significant and have the potential of stifling any sort of recovery. Rather than looking at commercial real estate (CRE) as a reason for more stimulus or bailouts the question should examine why so many CRE locations are defaulting. Can this be a sign that demand for […]
thestatedtruth.com | June 20, 2010
 By oilflorida,        June 20th, 2010 Bill Gale, an engineer specializing in fires and explosions on oil rigs who is part of Bea’s Deepwater Horizon Study Group, said the 16-inch wide casing contains disks that are designed to relieve pressure if necessary. If any of those disks popped, it could create undesirable new avenues for […]
thestatedtruth.com | June 20, 2010
By MARY WILLIAMS WALSH Posted June 20,2010 Many states are acknowledging this year that they have promised pensions they cannot afford and are cutting once-sacrosanct benefits, to appease taxpayers and attack budget deficits. Gov. Pat Quinn said an overhaul would save Illinois’s pension system $300 million in its first year. But the fund is weakened. […]
thestatedtruth.com | June 20, 2010
Submitted by Tyler Durden on 06/19/2010Â Â Zerohedge.com Update: It appears the Aircraft Carrier crossing the Suez is the USS Harry Truman, under the control of Herman “Herm” Shelanski, who is quoted by aish.com as saying “I understood that the strength of the United States is directly proportional to the safety of Israel.” Arabic newspaper Al-Quds […]
thestatedtruth.com | June 20, 2010
  BP document…. “If BOP and wellhead are removed and if we have incorrectly modeled the restrictions the rate could be as high as 100,000 barrels per day up the casing or 55,000 barrels per day up the annulus (low probability worst cases).” ….. “This number is in sharp contrast to BP’s initial claim […]
thestatedtruth.com | June 20, 2010
 Everyone should read this!  Cumberland Advisors  Oil Slickonomics  Part 8 – Chemotherapy in the Gulf of Mexico  June 20, 2010 “Plaquemines Parish President Billy Nungesser was out on Terrebone Bay at the break of dawn with his new industrial strength, compressed air-powered vac. Within 15 minutes, he said his crews had […]
thestatedtruth.com | June 18, 2010
By Jacob Greber        June 17, 2010 Former U.S. Federal Reserve Chairman Alan Greenspan testifies at a hearing of the Financial Crisis Inquiry Commission in Washington. Former Federal Reserve Chairman Alan Greenspan said the U.S. may soon face higher borrowing costs on its swelling debt and called for a “tectonic shift†in fiscal policy to contain […]
thestatedtruth.com | June 18, 2010
By Catherine Belton, Charles Clover and Courtney Weaver in St Petersburg Published: June 18 2010 Dmitry Medvedev, the Russian president, said Moscow was bidding to help lead efforts to build a new world economic order after the old system collapsed in the global financial crisis. Opening Russia’s annual economic forum in St Petersburg where hundreds […]
thestatedtruth.com | June 18, 2010
From President Obama: Letter from the President to G-20 Leaders Our highest priority in Toronto must be to safeguard and strengthen the recovery. We worked exceptionally hard to restore growth; we cannot let it falter or lose strength now. This means that we should reaffirm our unity of purpose to provide the policy support necessary […]
thestatedtruth.com | June 17, 2010
#1) Barack Obama has authorized the deployment of more than 17,000 National Guard members along the Gulf coast to be used “as needed” by state governors. So what are all of these National Guard troops going to be doing exactly? Are the troops going to be used to stop the oil or to control the […]
thestatedtruth.com | June 17, 2010
   The Dow Jones Industrial Average added five points yesterday to close at 10,409 – almost exactly where it closed eleven years ago. Amidst giddy fanfare and high fives, the Dow closed above 10,000 for the very first time on March 29, 1999. One month later, amidst even giddier fanfare and high fives, […]
thestatedtruth.com | June 16, 2010
Bloomberg — Matthew Simmons, founder of the Ocean Energy Institute, talks with Bloomberg’s Lori Rothman about BP Plc’s oil leak in the Gulf of Mexico and his view that the use of a “small-bore nuclear device” is now the “only option” to stop the flow of oil. Listen to this news interview……unbelievable.  Click below: http://video.godlikeproductions.com/video/Simmons_Says_Nuclear_Device_Only_Option_to_Stop_Oil_Flow
thestatedtruth.com | June 16, 2010
From Jeff Rense.com ……………… The magnitude and impact of this disaster will eclipse anything we have known in our life times if the worst or even near worst happens… Contrary to what most of us would think as logical to stop the oil mess, actually opening up the gushing well and making it gush more […]
thestatedtruth.com | June 16, 2010
So,  how far behind is the U.S. …………Europe faces almost inevitable recession next year and years of stagnation as policymakers’ response to the euro zone crisis causes a downward spiral, billionaire U.S. investor George Soros said on Tuesday and “The commercial paper market, for instance, in America is now refusing to lend to European banks […]
thestatedtruth.com | June 16, 2010
So much for PEAK oil, we scooped this days ago, now the U.S. government is raising its numbers, it may well be the largest oil well in the history of the world, who would have thunk it!     “This is a phenomenal formation that they drilled into.â€Â         said Ian MacDonald, an oceanographer at Florida State University….Exceptional Gulf of Mexico […]
thestatedtruth.com | June 16, 2010
By James Picerno       Jun 16, 2010 The markets told us that there were problems in May, and as the economic data rolls in there’s no reason to think otherwise. Today’s numbers on housing starts and new building permits certainly suggest that the economic recovery struggled last month. The question is whether the change is temporary, […]
thestatedtruth.com | June 16, 2010
Jun 16, 2010 Oil giant BP (BP) said Wednesday it agreed to set aside $20 billion as part of its commitments to compensate victims of the Gulf oil spill. BP will initially make payments of $3 billion in the 3rd’Q and $2 billion in the 4th’Q. These will be followed by a payment of $1.25 […]
thestatedtruth.com | June 15, 2010
Among those who have loans that aren’t backed by any federal agency, the re-default rate within 12 months is likely to be 65% to 75% under the Obama administration’s Home Affordable Modification Program, according to a report from Fitch Ratings.
thestatedtruth.com | June 15, 2010
A bleak Ghazni Province seems to offer little, but a Pentagon study says it may have among the world’s largest deposits of lithium. By JAMES RISEN Published: June 13, 2010 WASHINGTON — The United States has discovered nearly $1 trillion in untapped mineral deposits in Afghanistan, far beyond any previously known reserves and enough to […]
thestatedtruth.com | June 15, 2010
 I think we all know this!  Thursday, June 10, 2010 By Matt Cover, Staff Writer (CNSNews.com) – Federal Reserve Chairman Ben Bernanke delivered a frank assessment to Congress on the fate of the economy if entitlement programs are not restructured. On Wednesday, Bernanke warned that “things will come apart†if Congress allows the […]
thestatedtruth.com | June 15, 2010
Britain could face widespread power blackouts and be left without critical communication signals for long periods of time, after the earth is hit by a once-in-a-generation “space stormâ€, NASA has warned. By Andrew Hough National power grids could overheat and air travel severely disrupted while electronic items, navigation devices and major satellites could stop working […]
thestatedtruth.com | June 15, 2010
June 15, 2010 Â By Peter Zeihan STRATFOR often discusses how Russia is on a bit of a roll. The U.S. distraction in the Middle East has offered Russia a golden opportunity to re-establish its spheres of influence in the region, steadily expanding the Russian zone of control into a shape that is eerily reminiscent […]
thestatedtruth.com | June 15, 2010
thestatedtruth.com | June 15, 2010
Mexico on Tuesday put a limit of 4,000 US dollars per month on bank deposits by individuals, a move meant to thwart drug traffickers who use the US currency to stash away their illicit profits. Officials also imposed a limit of 7,000 US dollars for deposits by Mexican businesses making deposits in greenbacks. Meanwhile foreigners […]
thestatedtruth.com | June 15, 2010
China’s holdings of US debt climbed to the highest level this year, the U.S. Treasury said Tuesday even as Beijing stepped up attacks on the United States for its burgeoning debt. The cash-rich Chinese government raised its US Treasury bond holdings to 900.2 billion dollars in April, its highest level since November 2009, while posting […]
thestatedtruth.com | June 14, 2010
 Woha……..This is heavy reading on the Gulf of Mexico oil blowout if TRUE! The disaster has a real potential cost of at least $1,000 billion ($1 trillion). According to the Washington report of Madsen, BP statements that one of the leaks has been contained, are pure public relations disinformation designed to avoid panic and demands […]
thestatedtruth.com | June 14, 2010
Rick’s Picks Monday, June 14, 2010 “Phenomenally accurate forecasts†We’ve railed at traders and speculators recently for their arrogant and sometimes breathtaking stupidity in failing to discount an onslaught of world-shattering news. If the dolts, rubes, bozos and mountebanks who have kept stocks afloat even remotely understood what has been going on in this world, we wrote here recently, […]
thestatedtruth.com | June 14, 2010
Submitted by Tyler Durden on 06/14/2010 “If you were to have faxed me this balance sheet and asked me to guess who it belonged to, I would have guessed, Citadel, Magnetar or even a proprietary trading desk at a bank.†So begins a story by Alexandra Harris of the Medill Journalism school at Northwestern, which, […]
thestatedtruth.com | June 14, 2010
 By Lorraine Woellert and John Gittelsohn June 14 (Bloomberg) — The cost of fixing Fannie Mae and Freddie Mac, the mortgage companies that last year bought or guaranteed three-quarters of all U.S. home loans, will be at least $160 billion and could grow to as much as $1 trillion after the biggest bailout in […]
thestatedtruth.com | June 13, 2010
The cat is clearly out of the bag concerning the forthcoming bankruptcy of 33 states of the USA. Â This moronic New York non-solution to borrow from state pension funds, which now cannot meet their pension requirements, screams bankruptcy. The Administration calling for $50 billion for states and cities would appear to be confirmation of […]
thestatedtruth.com | June 13, 2010
June 12, 2010  Hugh Tomlinson  Saudi Arabia has conducted tests to stand down its air defences to enable Israeli jets to make a bombing raid on Iran’s nuclear facilities, The Times can reveal. In the week that the UN Security Council imposed a new round of sanctions on Tehran, defence sources in the Gulf […]
thestatedtruth.com | June 13, 2010
The State and local governments are broke. This will amount to an endless amount of state aid. It will end when, not if…..foreigners flee our bonds and then interest rates explode because of it! Obama Pushes for $50 Billion in State Aid by CalculatedRisk on 6/13/2010 From Jackie Calmes and Sheryl Gay Stolberg at the NY Times: Obama […]
thestatedtruth.com | June 11, 2010
The financial raid against the middle class – 9 of the 10 largest occupations in the U.S. have median wages between $8 per hour and $14per hour. The middle class is inheriting a new serfdom drowning in mountains of debt. The new two income trap. Posted: Fri, 11 Jun 2010 18:02:10 +0000 The war against […]
thestatedtruth.com | June 11, 2010
The Japanese PM is alluding to confidence; Confidence in the currency that denominates their debt. Since gold is rising in all global currencies, it suggests that confidence in those managing the existing fiat system is beginning to fray. Once confidence reaches critical mass, there is no stopping the deterioration. Japan could face a financial mess […]
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