thestatedtruth.com | June 29, 2012
The use of Eminent Domain to rewrite underwater mortgages would be catastrophic to the future of the housing industry. It would guarantee that private capital would have no interest in writing future loans for property that could be seized. Any idea that has no homeowner skin in the game should be dead on arrival! Officials in San Bernardino […]
thestatedtruth.com | June 26, 2012
Hmm… Survey: More Than 25% of Americans Have No Emergency Savings! By Nancy Stanley While nearly half of Americans don’t have enough money saved to cover emergencies, one-quarter don’t have any money saved, according to Bankrate.com’s Financial Security Index survey. The general rule of thumb is to have enough cash saved to cover at least […]
thestatedtruth.com | June 26, 2012
Ray Dalio: Don’t Assume That Germany Will Bail Europe Out; Consider The “Fat Tail” A Significant Possibility…….Dalio’s Bridgwater is one of the highest rated hedge funds anywhere, so naturally we highly value their opinion! From Bridgewater’s Daily Observations: Be Careful When Betting Against Human Nature Alliances are shifting in a logical manner. The German-French alliance is breaking down […]
thestatedtruth.com | June 11, 2012
Fed Says U.S. Wealth Fell 38.8% in 2007-2010 because of Housing….Duh! The financial crisis wiped out 18 years of gains for the median U.S. household net worth, with a 38.8 percent plunge from 2007 to 2010 that was led by the collapse in home prices, a Federal Reserve study showed. Median net worth declined to $77,300 in […]
thestatedtruth.com | April 17, 2012
thestatedtruth.com | April 5, 2012
Fortune broke an interesting story on a private lunch that Bernanke had with some key bankers. FORTUNE — After completing a series of public lectures in Washington, D.C. last week, Federal Reserve Chairman Ben Bernanke quietly slipped into New York City for a private luncheon on Friday with Wall Street executives. Fortune has learned […]
thestatedtruth.com | April 3, 2012
Nurses rank highest, and members of Congress and Lobbyists rank lowest along with Car Salesmen, for honesty and ethics. If you’re surprised, raise your hand! Nope, I don’t see any hands, just as I thought.
thestatedtruth.com | April 2, 2012
Foodstamp usage for January is virtually unchanged at 46.5 million recipients. The actual number of recipients declined by a whisper, while the number of households receiving some sort of benefit increased to a new record of 22.2 million. www.zerohedge.com
thestatedtruth.com | March 19, 2012
We want the red line to be below the black one…or we’re in trouble. But as everyone can see, the red line looks like a bean stalk and is growing to the sky!
thestatedtruth.com | March 19, 2012
Spend, spend spend…… The Federal Reserve Flow of Funds Report, issued two weeks ago, reveals the extent of the average mans plight : Forty percent of all credit card users do not pay-off their credit card every month and carry an average balance of $16,000 at an average interest rate of 15%. Total U.S. credit market […]
thestatedtruth.com | March 18, 2012
Just a friendly reminder…Greece continued to say everything was fine, they said it over and over… until one day not so long later, they admited that it wasn’t. The next thing you know Greek riots break out because Greece is forced to go on a hard austerity plan. Now we see Portugal in the same sinking boat. We’ve been warned. The head and co founder […]
thestatedtruth.com | March 12, 2012
U.S. Budget Deficits – A picture is worth um, $580 billion, here’s why… in the first 5 months of the fiscal year, the U.S. has racked up $580 billion in deficits,
thestatedtruth.com | March 12, 2012
We’re on the right track….but have a long way to go. U.S. crude oil production came in at 5.6 million barrels a day for 2011 vs. 5.48 million barrels a day in 2010. It’s the highest U.S. oil production since 2003. And… The U.S. has been the world’s largest producer of natural gas since 2009, the report says. […]
thestatedtruth.com | March 10, 2012
Stress and fear in the system is receding….for the time being. www.ingerletter.com
thestatedtruth.com | March 6, 2012
Bonus time…or maybe not! Bankers and Wall Street listen up…The O in cheerios stands for zero bonus! Capice! www.zerohedge.com
thestatedtruth.com | March 5, 2012
Bad seats, hey buddy……especially if you have a student loan! We have said repeatedly that this was going to happen, and rest assured we feel it will get worse. Lots worse! 10 percent of the outstanding loan balance shows delinquent in the third quarter of 2011, and as many as 47 percent of student-loan borrowers “appear to be […]
thestatedtruth.com | March 2, 2012
Here we go….it feels like we could be at the peak of the good feeling time for this economic rebound. Things are getting hot everywhere we look. People are feeling better and the talk is that things are headed back to the good old times, which many consider to be normal. But gasoline prices are sky high, and prices are rising on […]
thestatedtruth.com | March 1, 2012
Housing Tid Bits….. The latest quarterly report out of CoreLogic is full of insights about the state of U.S. housing. Key among them is that “negative equity and near-negative equity mortgages accounted for 27.8 percent of all residential properties with a mortgage nationwide in the fourth quarter, up from 27.1 in the previous quarter. Nationally, the total […]
thestatedtruth.com | February 28, 2012
Here’s the scoop on gasoline (these charts go back to 1991)….prices are moving to the upside rapidly while demand is falling. Hmm Oh, and it’s official… gas prices have set an all time record for the month of February.
thestatedtruth.com | February 28, 2012
Bill Gross talking here…It’s the new normal, and a sign of the times as bank accounts and money market accounts basically yield nothing…and who gets the smelly end of the stick, yep… main street is the one taking it up the wazoo, yet again! Chart 1 shows that since 1981, which marks the beginning of the secular […]
thestatedtruth.com | February 28, 2012
There is no housing recovery as of yet….that according to Case Shiller. The Case Shiller housing index just showed a 8th consecutive month of home price declines. During this time we’ve had one of the most favorable winter buying periods ever, caused by favorable weather conditions accross the United States with one of the warmest winters on record (other then in Alaska). And let’s not forget the record low interest rates on mortgages. Anyone […]
thestatedtruth.com | February 24, 2012
We wouldn’t call this a surprise. Judging from the waiting time at the local restaurants, people are in a spending mood….and to boot we see a lot more construction going on, especially in light of a huge commercial and housing overhang. Confidence among U.S. consumers rose in February as Americans continued more hopeful about economic growth. The Thomson Reuters/University […]
thestatedtruth.com | February 16, 2012
It looks like we’ve seen the bounce in consumer net worth and now as we head back the other way, reality may set in! Or… maybe not, it being an election year and all. www.frontlinethoughts.com
thestatedtruth.com | February 16, 2012
In the new normal let’s review some definitions: (Discretionary spending is a spending category through which governments can spend through an appropriations act.) This spending is optional as part of fiscal policy, in contrast to entitlement programs for which funding is mandatory. As the Budget Control Act cuts discretionary spending to a 50-year low (close to only […]
thestatedtruth.com | February 15, 2012
So…. for Americans to get debt levels back to the happier times of 2002-03 levels, we’ll need about a 21% debt drop from the peak and a 17% drop from right where we are now. Back to 2000 will take longer. We’re talking many years for this to unwind. www.frontlinethoughts.com
thestatedtruth.com | February 13, 2012
Nobody on the planet is expecting GDP growth this high….2.7% never happens! You heard it first here. The smartest guys in the universe are much more conservative. From Bridgewater: Recent better-than-expected news on the U.S. economy is unlikely to be the start of a healthy expansion. The uptick in economic growth has been fueled by […]
thestatedtruth.com | February 10, 2012
Gasoline deliveries have in the past reflected recession or growth. If so, the recent drop in retail gasoline deliveries may signal a sharp economic contraction dead ahead. Or… a new normal because of rising fuel economy? Note that petroleum usage is back to 1997 level and gasoline usage is back to 2001 level. Moreover, two out of the last three weeks gasoline […]
thestatedtruth.com | February 10, 2012
So, Governor Brown, what happened to the big recovery you were expecting…and how about the giant consumer spending binge of the last two months fueled mostly on credit……just asking? This is a disaster to the state budget. Spending up as reflected in sales taxes, while income is down, relected in income taxes. California collected $528 million less in […]
thestatedtruth.com | February 10, 2012
Many parts of our economy now seem to be controlled (rigged) by the government. If housing would have been left alone, then things could have been cleaned up by now and a true bottom might have been reached, but instead this mess will drag on for years to come much like Japans nightmare! Federal Reserve Chairman Ben S. Bernanke said the […]
thestatedtruth.com | February 7, 2012
So…the consumer confidence level is soaring right along with the consumer debt, and the savings rate is plunging. Now we understand why the Federal reserve has been so worried lately. The worry is that this consumer spending binge is totally unsustainable and likely to burn out soon! A report from the Labor Department today also showed there […]
thestatedtruth.com | February 3, 2012
Here is the latest from John Williams – Basic Economic Outlook Unaltered by Stronger Labor Data – January Jobs Reading Still at Levels of 11 Years Ago – January Unemployment: 8.3% (U.3), 15.1% (U.6), 22.5% (SGS) – Money Supply M3 Growth Is Picking Up www.shadowstats.com
thestatedtruth.com | February 3, 2012
A Novel Idea….Let’s Call It…. The Congressional Common Sense Act of 2012 1. No Tenure / No Pension. A Congressman/woman collects a salary while in office and receives no pay when they’re out of office. 2. Congress (past, present & future) participates in Social Security. All funds in the Congressional retirement fund move to the Social Security system immediately. All […]
thestatedtruth.com | February 3, 2012
The devil’s in the details, read it and weep! Non Farm Payrolls Soar By 243K, Unemployment Rate Drops To 8.3% Whopper of a NFP (non farm payroll) number, which prints at 243K, higher than the biggest forecast of 225K, on consensus expectations of 140K, the biggest jump since February 2009. But the devil’s in the […]
thestatedtruth.com | January 31, 2012
Looks like we have slow learners here, folks…..$100 billion in write downs, give me a break! Shipping Loans Now Go Bad For European Banks With China rolling over, the large ship containers are increasingly lined up and stacked in Asian harbors around the world. The IHT is out quoting industry observers stating that European banks may be […]
thestatedtruth.com | January 31, 2012
We ask Governor Brown of California, what happened to those Rosie optimistic solutions and improving tax receipts that you talked about not to long ago? Looks like we have the same skid marks on the road as last year…Can’t anybody come up with a conservative assumption going forward. Oh ya, that’s right… you were thinking that residents will vote for a tax […]
thestatedtruth.com | January 31, 2012
Oh well…the Fed said recently… they worried that much of the recent spending uptick was coming from savings and inventory build up, and it was unlikely to last much longer without an improving fundamental environment! The gradual re-softening of the economy is starting to materialize. The January Chicago PMI just printed at 60.2, missing expectations of an increase […]
thestatedtruth.com | January 31, 2012
More of the same…as personal income falls or flat lines, real estate will continue on a slippery slop. With record low interest rates, people, unlike in past recessions, still carry near record high amounts of debt. It is not indicative of a housing rebound. De-leveraging will continue to be a rage, unbeknown and not understood by most. The November […]
thestatedtruth.com | January 30, 2012
From ZeroHedge….. We already know that Israel is on edge……the fuse may be looking for a match like a bug looking for a windshield! Here’s a following of US naval developments and deployments in the Arabian Sea, which serve one purpose and one purpose only – to demonstrate US military strength in the Straits […]
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