FDIC Hits Record “Default” Level As Deposit Insurance Fund Plunges By $12.7 Billion To NEGATIVE 20.9 Billion
thestatedtruth.com | February 23, 2010
FDIC Hits Record “Default” Level As Deposit Insurance Fund Plunges By $12.7 Billion To NEGATIVE 20.9 Billion From Dow Jones: The U.S. banking industry continued to struggle in the fourth quarter, as the number of banks on the brink of failure continued to rise and the government’s fund to protect deposits fell sharply into the […]
Gramps Says Relax……I Got Your Backside Covered
thestatedtruth.com | February 23, 2010
Figures In The People’s Liberation Army Are Said To Want The Financiers To Sell U.S. Bonds As A Way Of Punishing Washington For Selling Arms To Taiwan
thestatedtruth.com | February 23, 2010
Dan Denning, Reporting From Melbourne, Australia… Recently we claimed that borrowing your way to national prosperity is a sure-fire way to servitude and political instability. Today, we aim to prove it. To do so, we cite this article from Reuters. It suggests that China is using or should use its large holdings of US Treasury […]
Consumer Confidence Takes A Dive
thestatedtruth.com | February 23, 2010
Federal Government Debt Per Person
thestatedtruth.com | February 23, 2010
The Two Income Trap
thestatedtruth.com | February 22, 2010
It’s Just A Matter Of Time Before We Can Say Goodbye to Historically Low Mortgage Interest Rates
thestatedtruth.com | February 22, 2010
Quantitative Easing and the Electronic Money Printing Machine – Saying Goodbye to Historically Low Mortgage Interest Rates. Federal Reserve 95 Percent Complete on Buying $1.25 Trillion in Mortgage Backed Securities. Posted   02-22-2010 People forget that quantitative easing is a form of creating something out of nothing. This extreme form of monetary policy is called upon […]
A Five-Step Guide to Contagion….By Todd Harrison Of Minyanville
thestatedtruth.com | February 22, 2010
A Five-Step Guide to Contagion By Todd Harrison Feb 10, 2010 7:35 am Why European debt matters to the United States Times are tough and those struggling to make ends meet have focused their efforts close to home. That’s a natural instinct but it doesn’t change the fact that problems on the other side of […]
Europe: The Saga Continues…… How Derivative Magic Can Turn Into A Black Hole
thestatedtruth.com | February 22, 2010
 Dr Joe Duarte February 22, 2010  How Derivative Magic Can Turn Into A Black Hole  The Euro rallied for a period overnight, as rumors of a bailout package from Germany aimed at Greece surfaced. But a denial from the German Ministry of Finance knocked the European currency below Friday’s close. That’s the scenario with […]
The Long Term Unemployed
thestatedtruth.com | February 21, 2010
Buffett’s Warning Of “Dangerous Business” Grips Bond Insurers
thestatedtruth.com | February 21, 2010
Buffett’s Warning Of “Dangerous Business” Grips Bond Insurers By Christine Richard and Darrell Preston  Feb. 19 (Bloomberg) — Forewarned bankruptcies linked to infrastructure projects from Las Vegas to Harrisburg, Pennsylvania, may prove Warren Buffett’s conclusion that insuring municipal bonds is a dangerous business. Ambac Financial Group Inc., the second biggest bond insurer, faces as much […]
California Governor Says Economy Shows Signs Of A Slow Comeback
thestatedtruth.com | February 21, 2010
As saying goes, it starts in California and moves east……I would think we can hang in there until the long term cycles take us back down to a more lasting bottom between 2012 and 2014. Interestingly….. President George Bush’s Treasury Secretary Hank Paulson in his new book “On The Brink” (worth reading for everybody by the way) […]
Creditable Solutions To Reviving The U.S. Economy Without Tax Increases.
thestatedtruth.com | February 21, 2010
IF YOU WANT CREDITABLE SOLUTIONS ……to our nation’s fiscal problems, go to a creditable source. Indiana Gov. Mitch Daniels gives his ideas for restoring our economy — which can be done, he says, without tax increases. Daniels is a man of deep thought and bold action. His state has one of the strongest balance sheets in the country, […]
Citigroup Warns Customers It May Refuse To Allow Withdrawals……Then Relents And Says It Was Accidentally Included On Customer Statements Nationwide.
thestatedtruth.com | February 20, 2010
Citigroup Warns Customers It May Refuse To Allow Withdrawals John Carney  Posted February 20, 2010 The image of banks locking their doors to keep customers from making withdrawals during a bank run is what immediately came to mind when we heard that Citigroup was telling customers it has the right to prevent any withdrawals from […]
US Bank Lending Falls At Fastest Rate In History……Bank lending in the US has contracted so far this year at the fastest rate in recorded history, raising concerns that the Federal Reserve may have jumped the gun by withdrawing emergency stimulus.
thestatedtruth.com | February 20, 2010
By Ambrose Evans-Pritchard, International Business Editor . Posted February 20, 2010 . David Rosenberg from Gluskin Sheff said lending has fallen by over $100bn (£63.8bn) since January, plummeting at an annual rate of 16pc. “Since the credit crisis began, $740bn of bank credit has evaporated. This is a record 10pc decline,” he said. Mr Rosenberg […]
Gene Inger Reviews The Bernanke Hike Of Feds Discount Rate
thestatedtruth.com | February 18, 2010
Gene Inger’s Daily Briefing . . . for Friday February 19, 2010:  Good evening;     On top of the market’s cyclical roof . . . sits tradition. Perhaps not Zero Mostel but a ‘Fiddler on the Roof’ nevertheless (and there is a slight resemblance with Bernanke I’d say; minus a couple hundred pounds). Tradition holds […]
Now What ? Back-Up Plan B Or C
thestatedtruth.com | February 18, 2010
WASHINGTON (AP) – The government said Tuesday that foreign demand for US Treasury securities fell by the largest amount on record in December with China reducing its holdings by $34.2 billion. The reductions in holdings, if they continue, could force the government to make higher interest payments at a time that it is running record […]
The Developed World Is Driving A Crooked Road
thestatedtruth.com | February 18, 2010
What is astonishing is the fact that America is funding a large portion of its newly issued debt by direct purchases from the Federal Reserve. In other words, as private-sector demand for US Treasuries wanes, Mr. Bernanke is creating new money so that Mr. Obama’s government can bail out insolvent financial institutions. Strangely, the American […]
Comtock Partners Says Economic Momentum May Have Already Peaked
thestatedtruth.com | February 18, 2010
Comstock Partners, Inc. Economic Momentum May Have Already PeakedFebruary 18, 2010 Don’t look now, but economic momentum, as sluggish as it was, may have already peaked. Fiscal support for the economy may be more of a restraint as the year goes by, and any attempt at additional stimulus will face major headwinds as public sentiment […]
European Credit Markets Flash Hottest Warning Signal Since Crisis
thestatedtruth.com | February 18, 2010
Yields on risker bonds rise sharply and a string of companies cancel share flotations, raising fears that the recovery may falter in coming months. By Ambrose Evans-Pritchard, International Business Editor Published: 7:21PM GMT 16 Feb 2010 Jitters over Chinese credit tightening and default risks in Greece and Dubai are causing bond vigilantes to batten down […]
Fast Company Ranks Its Top Ten Most Innovative Biotech Companies
thestatedtruth.com | February 17, 2010
Fast Company 10 Most Innovative Biotech Companies by Elizabeth Svoboda (Additional Reporting By Erica Westly) 1. Novartis H1N1 put a spotlight on Novartis’s success with vaccines based on cells, a process that’s faster and more reliable than the traditional method of growing viruses in chicken eggs. Novartis won EU approval to sell cell-based flu vaccines, […]
U.S. vs. China…..A Dangerous Phase Has Begun
thestatedtruth.com | February 17, 2010
U.S. vs. China: A dangerous phase has begun ……China is a formidable adversary whose ultimate strength is not its military hardware but its economic prowess, and whose diplomatic weapon is not saber rattling but great patience.  By Martin Jacques / February 17, 2010 The spats between the United States and China appear to be getting more […]
Drowning In Debt…..What It Means For You!
thestatedtruth.com | February 17, 2010
Drowning in Debt: What the Nation’s Budget Woes Mean for You Economists Predict Cutbacks, Tax Increases That ‘Aren’t Even Imaginable’                                                  ~~~~~~~~~~~~~~~~~~ By DEVIN DWYER WASHINGTON, Feb. 17, 2010 American political and economic leaders have sounded the alarm for years about the red ink rising in reports on the federal government’s fiscal health. But now […]
4 Million U.S. Homeowners Are 90 Days Or More Delinquent
thestatedtruth.com | February 17, 2010
New wave of foreclosures by end of 2010 is feared About 4 million U.S. homeowners are 90 days or more delinquent on their loans or in foreclosure proceedings, Moody’s Economy.com says. A federal loan modification program is helping a relative few.                                          ~~~~~~~~~~~~~~~~~~~ By Jim Puzzanghera and Don Lee February 17, 2010 Reporting from Washington […]
Commercial Real Estate And The New Normal
thestatedtruth.com | February 16, 2010
Commercial Real Estate Collapse Bigger than Subprime Implosion – Why is the Market Ignoring the $3.5 Trillion Commercial Real Estate Market Implosion? Pricing in Another Bailout. Posted: Sat, 13 Feb 2010 18:41:28 +0000 Most people that follow real estate even at a cursory level have heard of the problems in commercial real estate. The enormous […]
Get Out Of Debt….That’s The (New) Secret To Success
thestatedtruth.com | February 16, 2010
The Only Certain Bet in this Market is paying Down Debt. Credit Card Rates Rise as Other Interest Rates Drop. $866 Billion in Revolving Debt Still Remains. Tue, 16 Feb 2010 The global economy remains on unstable footing as we see debt problems slam the European markets with Greece in the current spotlight. Yet the […]
The “Baby Boom” Generation, It Came And Now It’s Going
thestatedtruth.com | February 15, 2010
The “Baby Boom” generation consists of people born from 1946-64, which is that big bulge in the birth rate near the center of the chart. When the 1980s arrived, those boomers were in their prime working years, and helped to push up both economic growth and stock prices. They also caused the birth rate to […]
Rick Ackerman….No Easy Way Back For U.S. Economy
thestatedtruth.com | February 15, 2010
No Easy Way Back For U.S. Economy Rick’s Picks Monday, February 15, 2009 “Phenomenally accurate forecastsâ€Â  We wrote here the other day that once the bailouts and misguided stimulus attempts fail, the U.S. will have to start from the gound up to rebuild the economy. “But what mechanism can be used to bring back all […]
John Mauldin’s Frontline Thoughts
thestatedtruth.com | February 14, 2010
Thoughts from the Frontline Weekly Newsletter Between Dire and Disastrous by John Mauldin February 12, 2010 Path dependence explains how the set of decisions one faces for any given circumstance is limited by the decisions one has made in the past, even though past circumstances may no longer be relevant. In essence, history matters. With […]
The Euro May Be Working Its Way Into A Corner
thestatedtruth.com | February 12, 2010
Jim Sinclair’s reply to the SocGen opinion of a Euro breakup is reviewed at the end of the article below.                                                   ~~~~~~~~~~~  Euro Area Headed for Breakup, SocGen’s Edwards Says By Alexis Xydias Feb. 12 (Bloomberg) — Southern European countries are trapped in an overvalued currency and suffocated by low competitiveness, a situation that […]
Rick Ackerman Checks In With Some Timely Thoughts About Fed Chairman Ben Bernanke
thestatedtruth.com | February 11, 2010
A Cautious Bernanke Finally Gets It Right By: Rick Ackerman, Rick’s Picks  — Posted Thursday, 11 February 2010 Rick’s Picks Thursday, February 11, 2009 “Phenomenally accurate forecastsâ€Â  The stock market often swings wildly on insignificant news, but yesterday Wall Street appears finally to have taken some real news in stride, flatlining in response […]
Four Banks Make Up 55% Of FDIC Backed Assets……Now They Really Are To Big To Fail!
thestatedtruth.com | February 11, 2010
Thu, 11 Feb 2010 The FDIC provides deposit insurance at 8,099 institutions. Collectively the FDIC overlooks $13.247 trillion in assets at these institutions. Instead of feeling protected you should feel weary because the FDIC deposit insurance fund is insolvent. Now the assets at these institutions range from softer side financial instruments like CDs and regular […]
TARP Panel: Small Banks Are Facing Loan Woes
thestatedtruth.com | February 10, 2010
FEBRUARY 11, 2010 By CARRICK MOLLENKAMP And MAURICE TAMMAN Nearly 3,000 small U.S. banks could be forced to dramatically curtail their lending because of losses on commercial real-estate loans, a congressional inquiry concluded. The findings, set to be released Thursday by the Congressional Oversight Panel as part of its scrutiny of the Troubled Asset Relief […]
Traders Make Biggest Bet Ever Against The Euro Currency…. This Likely Will Be Bad For The Dollar In The End
thestatedtruth.com | February 9, 2010
Traders Make $8 Billion Bet Against Euro Traders and hedge funds have bet nearly $8bn (€5.9bn) against the euro, amassing the biggest ever short position in the single currency. Figures from the Chicago Mercantile Exchange, showed investors had increased their positions against the euro to record levels in the week to February 2. The build-up […]
CPI Components And How Housing Controls It
thestatedtruth.com | February 8, 2010
In the past few decades Americans have seen more and more of their income being eaten up by the housing sector of the economy:
Rash Of Retirements Could Push Social Security To Brink
thestatedtruth.com | February 8, 2010
And many thought we were out of the deep poop………the government will just borrow more money, there will be a new deal, not as good as the old one for social insecurity….. the dollar will fall further and China will get even more control of the U.S.,  without ever firing a shot. Who needs nuclear weapons when one has […]
The Power Of Ones Debt Held By Another Can Be Enormous
thestatedtruth.com | February 8, 2010
The fall of great empires have one thing in common……Too much debt!    America presents unsettling parallels with the disintegration of Rome – a decline of moral values, a loss of political civility, an overextended military, an inability to control national borders, and a growth of fiscal irresponsibility by the central government. Do these sound familiar?  […]
John Mauldin’s “Outside The Box”….Simon Hunt’s Long Wave Theory Of Cycles
thestatedtruth.com | February 8, 2010
This summary from John Mauldin’s “Outside The Box”, is from Simon Hunt, based in London. Simon travels to China many times a year, is an authority on copper and the Long Wave theory of cycles. Points below are summarizd and well taken in my view.   In summary, global economic recovery will disappoint as set out […]
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