thestatedtruth.com | August 17, 2009
Fed Says Banks Tightened Lending in Second Quarter By Craig Torres Aug. 17 (Bloomberg) — U.S. banks tightened standards on all types of loans in the second quarter and said they expect to maintain strict criteria on lending until at least the second half of 2010, a Federal Reserve report showed today. Most banks cited […]
thestatedtruth.com | August 14, 2009
Toxic Loans Topping 5% May Push 150 Banks to Point of  No Return By Ari Levy Aug. 14 (Bloomberg) — More than 150 publicly traded U.S. lenders own nonperforming loans that equal 5 percent or more of their holdings, a level that former regulators say can wipe out a bank’s equity and threaten its survival. […]
thestatedtruth.com | August 13, 2009
thestatedtruth.com | August 13, 2009
The Rules: Which Vehicles Qualify….. Not all cars are eligible for the “cash for clunkers” program. Full information is available at www.cars.gov. Trade-ins must: * Be no older than 25 years, based on manufacture date. * Have had a combined fuel economy of 18 mpg or less when new. * Have been registered by the […]
thestatedtruth.com | July 31, 2009
NYSE Embraces A Ruinous Idea By: Rick Ackerman  Rick’s Picks Friday, July 31, 2009 “Phenomenally accurate forecastsâ€Â  Sadly, another venerable American institution has lost its way: the New York Stock Exchange. We read the other day that the Exchange is building a fast-trade hub in northern New Jersey that supposedly will help secure its […]
thestatedtruth.com | July 31, 2009
Art Cashin: Stock Market Facing a 1929 Bounce   July 31, 2009 The US GDP shrunk at a slower-than-expected pace in the second quarter. What does it mean for the stock markets? Art Cashin, director of floor operations at UBS Financial Sevices, offered CNBC his insights. The market may temper optimism over the economy by analyzing […]
thestatedtruth.com | July 31, 2009
thestatedtruth.com | July 28, 2009
 Cumberland Advisors  614 Landis Avenue Vineland NJ 08360-8007 1-800-257-7013 http://www.cumber.com  Being in the Sweet Spot (twice) July 29, 2009 At the moment we are in the “sweet spot†in markets and soon, in Maine. We must enjoy it while it lasts. Some bullets follow. 1.   Fed policy is on hold at Quantitative Easing (QE), […]
thestatedtruth.com | July 28, 2009
U.S. Assures a ‘Concerned’ China It Will Shrink Record Deficit By Rob Delaney and Rebecca Christie July 27 (Bloomberg) — The Obama administration’s economic leaders assured Chinese counterparts they will rein in a record budget deficit as China underscored its concern about preserving the value of its holdings of Treasuries. “China has a huge amount […]
thestatedtruth.com | July 27, 2009
President Obama’s popularity continues to fade, as he had two bad days in the polls. According to the Rasmussen Reports.com daily poll, the number of those who disapprove of the president’s performance is now 51%. Here are some details: “The Rasmussen Reports daily Presidential Tracking Poll for Saturday shows that 30% of the nation’s voters […]
thestatedtruth.com | July 26, 2009
thestatedtruth.com | July 26, 2009
Storm Watch Update  THE END OF AN ERA  (Excerpt from a 17 July 2009 President’s Message to Jim’s clients at PFS Group) When the facts change, I change my mind. What do you do, sir? — John Maynard Keynes, British economist (1883–1946), in reply to a criticism during the Great Depression of having […]
thestatedtruth.com | July 25, 2009
At one point, housing construction was over 5% of GDP. Now it is around 2.5%. The graph shows how much a shrinking home-construction industry has reduced GDP each quarter for the last two years.
thestatedtruth.com | July 25, 2009
A few side observations on the above graph. China is roughly as big as the other three of the BRICs (Brazil, Russia, and India) combined. Russia and Brazil are in recessions. Also, note that it will be decades before China’s economy is as big as that of the US, even with growth of 5-6% a […]
thestatedtruth.com | July 25, 2009
Sen. Schumer warns SEC on “flash” stock orders By Jonathan Spicer NEW YORK, July 24 (Reuters) – U.S. Senator Charles Schumer warned a top regulator on Friday that if she does not ban so-called “flashes” — orders that stock exchanges send to a select group of traders before revealing them to the wider market — […]
thestatedtruth.com | July 23, 2009
“Our enemies of today are the forces of privilege and greed within our own borders.â€Â                                                           Franklin Roosevelt
thestatedtruth.com | July 23, 2009
Through March of 2009, banks had taken only $1.1 trillion in write- downs to date. Even the most conservative estimates put total credit losses at $2.2 trillion. Tilson and Tongue make a convincing case that the losses will be far worse than that – more like $3.8 trillion. And these numbers have only grown over time. […]
thestatedtruth.com | July 21, 2009
Why Gold Should Anchor a Portfolio By: Rick Ackerman  Rick’s Picks Tuesday, July 21, 2009 (Following is the fourth in a series of articles on gold by Chuck Cohen, a financial consultant and lifelong resident of New York City.) Recently I discussed some of the reasons investors often fall short. Today I want to […]
thestatedtruth.com | July 21, 2009
Americans Repaying Debt Most Since 1952 By Caroline Salas and Michael McKee July 21 (Bloomberg) — For the first time since Harry S. Truman was in the White House, Americans are paying back their debts, a phenomenon that just might help keep interest rates low as the Treasury sells a record $2 trillion of bonds […]
thestatedtruth.com | July 20, 2009
Bureaucracy, Taxpayers Headed for a Collision By: Rick Ackerman, Rick’s Picks  Posted Monday, 20 July 2009 Rick’s Picks Monday, July 20, 2009 “Phenomenally accurate forecasts†The headline atop the front page of this morning’s Boulder Camera suggests a city struggling diligently to balance its budget: “Work-Week Options Eyedâ€. Reading this, one might infer that the […]
thestatedtruth.com | July 20, 2009
U.S. Rescue May Reach $23.7 Trillion, Barofsky Says By Dawn Kopecki and Catherine Dodge July 20 (Bloomberg) — U.S. taxpayers may be on the hook for as much as $23.7 trillion to bolster the economy and bail out financial companies, said Neil Barofsky, special inspector general for the Treasury’s Troubled Asset Relief Program. The Treasury’s […]
thestatedtruth.com | July 19, 2009
Converting an I.R.A. Into a Roth?   July 18, 2009 By RON LIEBER You’ll be hearing a lot in the next six months about Roth Individual Retirement Accounts — but not as much as you should about a long-term threat that hangs over them. Starting Jan. 1, you’ll be able to take a regular I.R.A., […]
thestatedtruth.com | July 18, 2009
Thoughts from the Frontline Weekly Newsletter Europe on the Brink by John Mauldin July 17, 2009 Â Â In this issue: Europe on the Brink And Then There Was Leverage Too Big To Save Those Wild and Crazy Swiss A Positive Third Quarter? We have avoided Armageddon, at least for now. The cost to the US […]
thestatedtruth.com | July 17, 2009
 Huge Rally? Don’t Laugh……..By: Rick Ackerman, Rick’s Picks   Rick’s Picks Friday, July 17, 2009 “Phenomenally accurate forecastsâ€Â  Just because there are a dozen great reasons to hate stocks right now doesn’t necessarily mean they can’t go much higher. Not only that, the bear rally could continue for quite a while – till 2011 […]
thestatedtruth.com | July 16, 2009
thestatedtruth.com | July 16, 2009
thestatedtruth.com | July 16, 2009
thestatedtruth.com | July 16, 2009
thestatedtruth.com | July 13, 2009
thestatedtruth.com | July 13, 2009
thestatedtruth.com | July 13, 2009
thestatedtruth.com | July 11, 2009
thestatedtruth.com | July 11, 2009
thestatedtruth.com | July 7, 2009
Inflation, Sentiment and the Kress Cycles July 7, 2009 Despite a 40% market recovery and an abatement of the credit crisis, a climate of high fear abounds among market participants. Investor sentiment polls continue to show an excess of bears over bulls as few believe that a recovery can be sustained. If anything, fear has been […]
thestatedtruth.com | June 21, 2009
thestatedtruth.com | June 14, 2009
1. Americans spend $36,000,000 at Wal-Mart every hour of every day.  2. This works out to $20,928 profit every minute!  3. Wal-Mart will sell more from January 1 to St.Patrick’s Day (March 17th) than Target sells all year.  4. Wal-Mart is bigger than Home Depot + Kroger + Target + Sears + Costco + […]
thestatedtruth.com | March 31, 2009
Meredith Whitney has it figured out. She has been way ahead of everybody else on banking. She is now in the process of opening her own investment firm…………………..The big-bank model isn’t going to last much longer, banking industry analyst Meredith Whitney said at the Journal’s Future of Finance Initiative, and said a more sustainable approach would be bigger regional […]
thestatedtruth.com | March 31, 2009
I hope not……………sounds very inflationary to say the least!      President Barack Obama‘s budget would generate unsustainably large deficits averaging almost $1 trillion a year over the next decade, according to the latest congressional estimates, significantly worse than predicted by the White House just last month. The Congressional Budget Officefigures, obtained by The Associated Press Friday, predict Obama’s budget will produce $9.3 […]
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