thestatedtruth.com | December 22, 2011
PIMCO’s Bill Gross has become very negative on the U.S. and World economies growth rates. Todays tweet from him……..dissing the European LTRO (Long Term Repo Operation) to save European banks….the hope is that the banks take this money and leverage it up many times to buy Piigs (five Eurozone nations, Portugal,Ireland,Italy, Greece and Spain) sovereigns HIGH risk debt, presto…debt problems […]
thestatedtruth.com | December 18, 2011
Extend and pretend, benefit extentions looked all set to go….but not so fast, they may not get approved after all. On Sunday House Speaker John Boehner flatly ruled out approval of a Senate agreement to temporarily extend the payroll tax cut through February. But, Senate Majority Leader Harry Reid (D., Nev.) said if Mr. Boehner rejected the Senate […]
thestatedtruth.com | December 18, 2011
A new recession is coming, as we’re seeing all the signs of it ahead of time. “The U.S. gasoline market continues to receive down pressure from falling gasoline demand.” according to Trilby Lundberg, president of Lundberg Survey in Camarillo, California. Gasoline demand at the pump in the week ended Dec. 9 was 8.76 million barrels a […]
thestatedtruth.com | December 16, 2011
Here are 50 significant stats for 2011…. #1 A staggering 48 percent of all Americans are either considered to be “low income” or are living in poverty. #2 Approximately 57 percent of all children in the United States are living in homes that are either considered to be “low income” or impoverished. #3 If the number […]
thestatedtruth.com | December 16, 2011
Uh, so how do you underestimate your sub-prime loans number by 238 billion dollars from 2006 to 2008 and then allow yourself nice bonuses off those false numbers. Lucky for us tax payers some of those bonuses were clawed back’ by the government. Anybody out there think these guys missed the numbers by accident? No, it was no accident! […]
thestatedtruth.com | December 14, 2011
A sharp decline in withholding tax receipts signals an imminent recession is dead ahead! The forward indicators that produce the most reliable signals with respect to recession forecasting continue to indicate that a return to economic contraction is highly likely in early 2012. Our computer models have been predicting the likely start of a new recession […]
thestatedtruth.com | December 13, 2011
Here we go with today’s Fed release….. Fed Headline Summary: FED: FINANCIAL STRAINS STILL POSE `SIGNIFICANT DOWNSIDE RISKS’ FED REPEATS `EXCEPTIONALLY LOW’ RATES THROUGH AT LEAST MID-2013 FED SAYS ECONOMY `EXPANDING MODERATELY’ AS GLOBAL GROWTH SLOWS FED LEAVES OPERATION TWIST PROGRAM UNCHANGED FED SAYS CONSUMER SPENDING `HAS CONTINUED TO ADVANCE’ FED SAYS UNEMPLOYMENT RATE TO […]
thestatedtruth.com | December 12, 2011
The President says…”We want our Drone back!” But… It’s more likely that the clone masters in China have already bought the original and built a million cheap imatation drones. ABC reports in connection with President Obama’s handling of this embarrassing predicament, “”We’ve asked for it back. We’ll see how the Iranians respond,” the President said at a news conference. He wouldn’t comment […]
thestatedtruth.com | December 5, 2011
A picture is worth a thousand words, especially on this subject! Rutgers University Working Paper Categorizing the Unemployed by the Impact of the Recession By Dr. Cliff Zukin, Dr. Carl E. Van Horn, and Charley Stone In August 2009, the John J. Heldrich Center for Workforce Development at Rutgers, The State University of New Jersey […]
thestatedtruth.com | December 5, 2011
thestatedtruth.com | December 5, 2011
The latest update from the Supplemental Nutrition Assistance Program (SNAP) shows 423,000 more Americans just found their way to the Food Stamp train from Uncle Sam. This should be good for Walmart.
thestatedtruth.com | December 4, 2011
Banks are a moving target for a reason in the new World normal… Pressure is growing on Berlin over the weekend as there are rumors that COMMERZBANK, Germany’s second largest bank, will have to be nationalized. It means that the solvency of GERMAN banking is being challenged. If COMMERZBANK fails then one of the most levered banks in […]
thestatedtruth.com | December 3, 2011
Robert Reich, President Clinton’s Secretary of Labor says not so fast about the big positives on the Friday jobs report. The jobless rate fell partly because around 315,000 people who had been looking for jobs dropped out of the job market in November. Remember: If you’re not actively looking, you’re not counted as unemployed on the […]
thestatedtruth.com | December 2, 2011
Bill Gross of PIMCO says (despite today’s positive unemployment news) things continue to be bad, and interest rates will likely stay at record lows for another four years. From Bloomberg: Pacific Investment Management Co.’s Bill Gross said U.S. employment growth won’t prevent the Federal Reserve from signaling that borrowing rates will remain lower longer than policy makers have already indicated. […]
thestatedtruth.com | November 30, 2011
It’s fine to go this route, but these Senate buffoons had better not give themselves a pay raise during the discussed timeline. Capice! Secondly, we would question the math analysis from the Congressional Budget Office, as their math skills have proven to be lacking over the years! Republicans in the U.S. Senate want to cover the estimated […]
thestatedtruth.com | November 30, 2011
Hmm…this is speculative in nature, but here’s an interesting question: Just how bad was the situation, if the global central banking cabal had to intervene all over again, and just what was not being told to the general public? Forbes may have one explanation: “It appears that a big European bank got close to failure […]
thestatedtruth.com | November 30, 2011
From PIMCO cofounder Mohamed El-Erian: The coordinated action “lowers the cost of emergency funding and increases the scope,” Central banks “are seeing something in the functioning of the banking system that worries them”. Six central banks led by the Federal Reserve made it cheaper for banks to borrow dollars in emergencies in a global effort to […]
thestatedtruth.com | November 29, 2011
Knock yourself out with these polls, personal savings are dropping and household earnings are less then last year, how long is this dopey optimism of unrealistic expectations going to last? Right you are, about long enough to get a poke in the eye! Geez Here is what Fed Gov Janet Yellen said today: “Very high debt to income […]
thestatedtruth.com | November 29, 2011
CASE SHILLER HOUSING MAIN POINTS: 1. The Case-Shiller 20-city house price index declined by 0.6% (month-over-month, seasonally adjusted) in September, a larger drop than expected by the consensus. Estimates for earlier months were also revised lower. On a year-over-year basis, prices were down 3.6%. The seasonally adjusted version of the index fell to a new […]
thestatedtruth.com | November 29, 2011
American Airlines Files For Bankruptcy The list of bankruptcies is likely to get longer over the next year or two. We would expect it to include a major Bank, a major Insurance Company, Major Industrial Companies, (for a starter Eastman Kadak comes to mind on that one)…. and Brokerages similar to MF Global, (one big, bad bet […]
thestatedtruth.com | November 26, 2011
The time to prepare for a disaster, is before the disaster happens. Capice? Britain’s Foreign Office Prepares For Riots In Europe British Embassies are being warned in Europe of dire consequences of an eventual Euro breakup. Analysts at UBS, an investment bank earlier this year warned that the most extreme consequences of a break-up include risks […]
thestatedtruth.com | November 23, 2011
We have NEVER seen the U.S. Fed set such a stringent set of criteria for the banks…we think there is a message here! Actually it’s a no brainier! Leverage is a killer near term. De leveraging and deflation is the immediate concern. The Federal Reserve released criteria yesterday for capital tests measuring the strength of the largest 31 […]
thestatedtruth.com | November 22, 2011
This from The Inger Letter……. Besides the EU situation and the growing tensions in the Persian Gulf region (hard to believe it; but mainstream news here isn’t at all reporting the reality of the rising issues…to wit.. the pressure against Iran’s Central Bank, with restriction of oil sales in the wings.. much less 2 US […]
thestatedtruth.com | November 22, 2011
Art Cashin, from the floor of The New York Stock Exchange…. Unintended (And Unwelcome) Consequences – Rich Miller at Bloomberg caught our eye this morning with this rather disturbing note: Federal Reserve Chairman Ben S. Bernanke and fellow U.S. policy makers may find themselves hampered in restoring financial stability should the European debt crisis spread […]
thestatedtruth.com | November 15, 2011
From the master himself, Warren Buffett…“Through the tax code, there has been class warfare waged, and my class has won,” Buffett said. “It’s been a rout. You have seen a period where American workers generally have gone no place, and where the really super rich as a group increased their incomes five for one in […]
thestatedtruth.com | November 15, 2011
This is almost too ridiculous to review…….Nearly $100 million of tax dollars went to lucrative pay packages for top executives at (almost bankrupt) Fannie Mae and Freddie Mac, filings show. Geez The latest cost estimate from FHFA is that the two bailouts will end up costing taxpayers about $124 billion through 2014, though that figure […]
thestatedtruth.com | November 14, 2011
This is all very positive for the U.S. So, now you know. The longest and deepest recession in the post-war period reduced oil consumption by 12.8%. At the same time production is bouncing to the upside. The next thing you know, the price of gasoline will start to drop…or perhaps it defies the law of gravity […]
thestatedtruth.com | November 14, 2011
If America ends up with one of these Republican muppets it is doomed, no… really, we’re doomed….and why do we say that….read on! A simple question: Do you agree with the way President Obama handled Libya? “I do not agree with the way he handled it for the following reasons – um, no, that’s a different one,” […]
thestatedtruth.com | November 8, 2011
This from Reuters – An “epic” storm is bearing down on western Alaska on Tuesday, the National Weather Service said, warning that it could be one of the worst on record for the state. The storm, moving inland from the Aleutian Islands, was expected to bring hurricane-force winds with gusts up to 100 miles per hour, […]
thestatedtruth.com | November 7, 2011
The wealth gap between younger and older Americans has stretched to the widest on record. Households headed by someone under age 35 had their median net worth reduced by 27 percent in 2009 as a result of unsecured liabilities, mostly a combination of credit card debt and student loans. No other age group had anywhere […]
thestatedtruth.com | November 7, 2011
The entire consumer credit growth is from auto loans and student loans, while revolving credit dropped…Student loans have been a growth business, but at what expense? A whole student generation is hopelessly buried. Truly buried like no other generation ever! So… just where did this consumer credit in 2011 come from? Well, of the $32 billion in credit […]
thestatedtruth.com | November 6, 2011
Odd things are happening in some unusual places, like the largest earthquake in Oklahoma, ever….expect more according to Clif High. Clif does Asymmetric Language Trend Analysis and writes a report called The Shape Of Things To Come. We have followed him for some time and we have to say he has had some outlandish predictions on things…the interesting thing is that a […]
thestatedtruth.com | November 3, 2011
Some sobering thoughts from Caroline Baum, author of “Just What I Said”. She is a Bloomberg News columnist (the opinions expressed are her own). Why is so much energy being directed, or misdirected, at housing? Wouldn’t those efforts be better spent charting a sound course for the overall economy rather than targeting a specific sector? For […]
thestatedtruth.com | November 2, 2011
Fed assumptions become more realistic….we say better late then never, especially when in denial. FED OFFICIALS SEE 2011 GDP 1.6%-1.7% VS 2.7%-2.9% FED OFFICIALS SEE 2012 GDP 2.5%-2.9% VS 3.3%-3.7% FED OFFICIALS SEE LONGER-RUN GDP 2.4%-2.7% VS 2.5%-2.8% FED OFFICIALS SEE 2011 UNEMPLOYMENT 9.0%-9.1% VS 8.6%-8.9% FED OFFICIALS SEE 2012 JOBLESS ESTIMATE 8.5%-8.7% VS 7.8%-8.2% […]
thestatedtruth.com | November 2, 2011
We’ve heard this for months now, but the thinking was that Big Daddy (the U.S.) shut the idea down…. Sky News has reported that Israeli Prime Minister Benjamin Netanyahu is trying to rally support in his cabinet for an attack on Iran, according to government sources. “The country’s defence minister Ehud Barak and the foreign […]
thestatedtruth.com | November 1, 2011
Hey, what the heck…records are made to be broken. August (the latest data), set a new all time record for Americans on food stamps, with 45.8 million poor souls on food stamps for sustenance. Alabama, Delaware, Utah, and Washington all had at least a 3% sequential increases in food stamp usage.
thestatedtruth.com | November 1, 2011
Looks like the Netflix business model of raising charges and fees doesn’t work…we have slow learners with the banks, but they ultimately did get it! Bank of America has dropped its plan to charge customers $5 a month for using their debit cards, after a giant sized customer backlash.
thestatedtruth.com | October 31, 2011
MF Global goes Chapter 11……breaks into the top ten standings! Here we go…MF Global, the brokerage run by former Goldman Sachs chief Jon Corzine, today filed for bankruptcy protection, becoming the highest-profile U.S. victim (that we know, so far) of bad bets on European government debt. With the Chapter 11 filing, MF Global also is likely […]
thestatedtruth.com | October 29, 2011
Question: Can you guess the amount of money spent for food prepared at home and the amount spent on eating out? Answer: 52% is spent on food prepared at home, and 48% is purchased and eaten onsite or taken home. Half of what we eat is “out”. It’s an oddly high number. Behind this almost 50-50 ratio is, no […]
thestatedtruth.com | October 28, 2011
Yesterday, the U.S. GDP for the third quarter of 2011 unexpectedly surprised to the upside at +2.5% vs +.7% in the second quarter…. You’re not alone wondering how it was possible for Q three GDP to post such a substantial improvement driven by mostly a surge in Personal Consumption expenditures? Well, so do we! Looks to us like it was at the […]
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