In Debt We Trust
thestatedtruth.com | August 11, 2011
These are bad seats hey buddy, front row, behind a pole! The chart is a few years old, but you get the picture. www.ingerletter.com
Math 101 For Morons
thestatedtruth.com | August 9, 2011
California was counting on collecting increasing tax revenue, even though almost every tax generating category in the state is slowing. Rest assured that these political morons never passed basic math 101. California just announced that state tax revenue fell in July, more than 10% below expectations. The LA Times blog says this will, “make it more likely that deeper cuts […]
Global Stock Market Tid Bit
thestatedtruth.com | August 8, 2011
So what happens when everybody hits the PANIC button at the same time? For starters….How about a global stock market dump equal to $7.8 TRILLION.
Government Morons…The Lockheed F-22 Rapter Fighter Jet Program
thestatedtruth.com | August 7, 2011
The F-22 Raptor fighter jet is a sleek, diamond-winged fighter conceived during the Cold War in the early 1980’s to combat a new generation of Soviet fighter jets. But with the collapse of the Soviet Union, the Soviet fighters that the U.S. military planners had feared never moved beyond development stage and none were ever built. So the United States ended […]
Europe’s In A Pickle… As Germany Balks At Euro Bailout Burden
thestatedtruth.com | August 6, 2011
More specifically it looks like Italy is next up and Spain is in the hole when it comes to new insolvent disasters! Global leaders call for an urgent emergency summit of finance ministers. Is it dominoes we hear falling? Referencing Spiegel: Concerning the EFSF (European Financial Stability Facility) German Govt: Italy Too Big For EFSF To Save German […]
The Unthinkable…United States Debt Loses Its AAA (Triple A) Rating
thestatedtruth.com | August 5, 2011
Bye bye U.S. AAA debt rating. The new normal just changed for the worse. For the most part, everyone thought things were already bad and “had” to get better! Oh well, live and learn. Next week could be a dozy! We have some tough years ahead of us between 2012 and 2014. But before that, a stock market […]
Looks Like You Can Stick A Fork In Treasury Secretary Tim Geither, He’s Done….Don’t Let The Door Hit You On The Way Out Tim
thestatedtruth.com | August 5, 2011
Could the unthinkable happen? Here’s Peter Barnes of the Fox Business Network. Peter Barnes: “Is there a risk that the United States could lose its AAA credit rating? Yes or no?” Geithner’s response: “No risk of that.” “No risk?” Barnes asked. “No risk,” Geithner said. www.zerohedge.com
U.S. Consumer Credit Shows A Surprise Jump To The Upside
thestatedtruth.com | August 5, 2011
The background indicates that this isn’t good news….here’s why. Both Visa and Mastercard have seen credit card use increase, but they have explained that the consumer seems to be tapped out and resorting to credit cards as a source of funds. This would make sense considering how tough the economy is currently. The most interesting aspect […]
Texas Power Grid In Jeapordy
thestatedtruth.com | August 4, 2011
Is Texas setting itself up for an electric grid disaster….we’ll soon see! Power demand for Electric Reliability Council of Texas, Inc, or ERCOT, which runs the power grid for most of the state, hit three consecutive records this week as Texans cranked up air conditioners to escape one of the hottest summers on record. Power […]
Confidential Wal-Mart Memo…The Consumer Is Tapped Out
thestatedtruth.com | August 3, 2011
The consumer is broke and getting broker. So far, the free loaders have been free spenders. That’s about to change as the banks get closer to kicking millions of the mortgage dead beats out of their homes. As this evolves things will likely get down right nasty for the economy! From Bloomberg: Disclosure from an internal, […]
Bondholders Win A Big One… Beat Up On The Little Guy
thestatedtruth.com | August 3, 2011
The rules have just changed. The little guy gets screwed again. Tiny Central Falls, R.I. filed for bankruptcy on Monday, but a new state law in Rhode Island places bondholders ahead of other creditors. It may turn out to be a bondholder’s dream as the real winners end up being the large municipalities located across the country as they target similar […]
Food Stamp Use Surges To New Record
thestatedtruth.com | August 2, 2011
So….our only question is: What happens if the economy gets really bad (by government standards)? Remember, the government says we’re still in a recovery. Just released data shows foodstamp usage increased over 1.1 million in the the highest single monthly jump in Foodstamp participation since mid 2009,that was when eligibility requirements were adjusted. We now have what amounts […]
Putin Speaks Negative About U.S. Economic Bullying
thestatedtruth.com | August 2, 2011
In a puff of smoke….sounds like Putin doesn’t like us (U.S.) anymore? As if he ever did! On the other hand, he makes some startlingly good observations. Putin says U.S. is “parasite” on global economy Russian Prime Minister Vladimir Putin accused the United States Monday of living beyond its means “like a parasite” on the global economy […]
Next Up….Italy And Spain
thestatedtruth.com | August 2, 2011
Let’s get real…..this isn’t unexpected! Government bonds in Italy and Spain continue on a downward march, creating more concern about the potential spread of the euro zone’s debt crisis. The dominoes are falling one by one. World wide debt problems are bubbling over. A new financial world order is coming shortly.
When Ever We See The Government Working Hard On Something, We Like To Drag Out Of The Closet The Good Old Governmental Flow Chart
thestatedtruth.com | July 31, 2011
We couldn’t be more poetic if we tried…… scratch Pelosi from this chart and substitute Boehner, but it won’t change a thing!
Slow Learning Curve In Washington
thestatedtruth.com | July 31, 2011
Slow learners……we’re talking about the government of course! They want banks to loan out more and consumer borrowing to pick up. They still don’t get it! Household debt levels are at 112% of annual income which is considered too high. To get back to a 1990’s debt-to-income ratio’s of 84%, incomes would need to be nearly $4 trillion higher. This would take about […]
Recovery….What Recovery?
thestatedtruth.com | July 30, 2011
So much for the recovery. Button up and stay alert. Maintaining what one has will go to the fiscally fittest…… John Williams of Shadow Stats confirms the severity of the on coming double dip. – GDP Growth Slows Markedly – Official Downturn Much Deeper In Revision – Latest GDP No Longer Has Recovered Pre-Recession High – 2009 Annual […]
Fed Paper: U.S. Housing Likely In Trouble Until At Least 2014
thestatedtruth.com | July 29, 2011
Better late then never…..looks like the government finally gets real on housing! Research released Monday by William Hedberg, a San Francisco Fed research associate, and John Krainer, a senior economist, say housing weakness is likely to continue for years. We’re now starting to see the government throw in the towel on trying to artificially save housing. Supply and […]
Coming Out Of The Eye (Calm) Of The Storm
thestatedtruth.com | July 29, 2011
Economically speaking, things slow before they reverse. That looks to be what we are doing currently. Whether we slow down more next year, then go off a cliff, or skip that part and fall off the cliff in the next six months will probably be a moot point. The U.S government is broke and not hiring new workers for the first time in our lives. In addition they’re […]
Please Excuse Our Missed Postings Of The Past Few Days, We Are Experiencing Technical Problems Which We Hope To Have Solved Soon……Thanks
thestatedtruth.com | July 27, 2011
Apple Goes On A Rodent Killing Binge And Kills The Mouse
thestatedtruth.com | July 21, 2011
Apple’s newest Lion software upgrade is laying in wait to test out the latest Mac book computer. Bloomberg reviews the newest tech below! Apple says its newest operating system called Lion won’t need a mouse, that’s right, no mouse…..Lion, is the new version of the software that runs Apple Inc. (AAPL) s Macs and is also the first personal-computer operating system […]
Doubling Down On A Bad Hand
thestatedtruth.com | July 21, 2011
Bad seats, hey buddy! Leaders of the Eurozone announced a huge new financial bailout package for Greece on Thursday, doubling up the amount of loans originally agreed upon ……The 17 EU nations that use the euro, offered Athens $157 billion in new loans, a nearly identical aid package to last year.
Rocks As Big As Diamonds….
thestatedtruth.com | July 21, 2011
Treasury exits Chrysler bailout with $1.3-billion loss……declared it a success. The Chrysler Group bailout officially ended Thursday when the Treasury Department sold off its remaining stake in the automaker, and the final tally shows the taxpayers lost $1.3 billion. The Treasury is unlikely to recover the remaining $1.3 billion. But Tim Massad, the Treasury assistant […]
Existing Home Sales Miss, Drop To Lowest Level Since November, Order Cancellations Surge
thestatedtruth.com | July 20, 2011
It’s the new normal, and it’s going to be here a while….. NAR: With job creation below expectations, excessively tight loan standards are keeping many buyers from completing deals….And proposals being considered in Washington could effectively put more restrictions on lending. An unprecedented 16% cancelled contracts in June. According to the NAR, June existing home sales […]
The World We Live In Is Now Inter-Connected To The Rest Of The World Like Never Before
thestatedtruth.com | July 19, 2011
Unlike back in the day when everything was East vs. West….the Soviets and China vs NATO and the United States, we are now interconnected to everywhere and everything. There used to be an old saying, “One man’s pain is another man’s gain”, but now one man’s pain very well may end up being pain for all men (and […]
Can You Name This Tune….Nope, They All Sound About The Same
thestatedtruth.com | July 18, 2011
Some opinions to be reckoned with…. it’s time to pay attention to the road everyone. From Reuters: Former U.S. Treasury Secretary Lawrence Summers explains….The European financial crisis has entered a new and far more dangerous phase. Where the crisis had been existential for small economies on the periphery of Europe but not systemically threatening to […]
Steve Wynn On Barack Obama: “This Administration Is The Greatest Wet Blanket To Business And Job Creation In My Lifetime”
thestatedtruth.com | July 18, 2011
Steve Wynn is very wealthy and very smart. When he talks, people tend to pay attention….no pun intended! During the Wynn corporate earnings call, Steve Wynn gave without doubt the most blistering and scathing critique of the Obama administration by anybody yet, and he’s a Democrat. From the call transcript: I believe in Las Vegas, I think its best […]
The Republicans Favor Plan A, But The Democrats Are Working On Plan B
thestatedtruth.com | July 14, 2011
A backup plan to cut the federal deficit and keep the U.S. government from default is now being discussed. Things should get very interesting. Called plan B, it is taking shape in back room discussions between Senate Majority Leader Harry Reid (D., Nev.) and Republican leader Mitch McConnell (R., Ky.). House Republicans are not happy about this. […]
“Welcome To The Recovery”
thestatedtruth.com | July 11, 2011
“Welcome to the Recovery”…..oh yeah, that was a year ago. Now it’s known as the new normal! And wasn’t tech supposed to be immune from all of this? Just asking. Cisco is preparing to fire 10,000, or 14% of its entire work force, over and above the number of people that the company said was going to be […]
Come On Tim, Tell Us Something We Don’t Already Know
thestatedtruth.com | July 10, 2011
So, the government admits 3 years later that we were headed for another great depression back in 2008…Can’t expect them to be honest with us now. Looks like a lot of unfinished business lies dead ahead.  Just a heads up! WASHINGTON (AP) — Treasury Secretary Timothy Geithner (GYT’-nur) says many Americans will face hard times for a long time to come. He […]
The Fall Of The European Dominoes…Italy And Spain Next Up
thestatedtruth.com | July 10, 2011
Greece is a lost cause. Next up is either Italy or Spain. Both the Dollar and the Euro currencies are in trouble. The last man standing looks to be Gold. From the NY Times…… LONDON — Top European officials planned to meet on Monday to wrestle with threats to the currency union as fears mounted […]
It’s “Elementary, My Dear Watson”
thestatedtruth.com | July 8, 2011
It’s “elementary, my dear Watson”…..Follow the floating balls in the chart below, the bigger the ball, the worse the debt/GDPÂ situation is for that country. When it comes to the stability of the European dominoes, let’s think for a moment about Italy, which is not only the second worst country in Europe after Greece on a […]
Labor Force Participation Rate Drops To 25 Year Low: 64.1%
thestatedtruth.com | July 8, 2011
These ratios are looking terrible. How can anyone expect the economy or real estate for that matter to turn with these kinds of numbers. Or, are we just being too logical here? Baby boomers are screwed. Plain and simple. The civilian labor force has declined to 64.1%.  The employment to population ratio also slumped to a multi decade […]
A Different Way To Look At Unemployment
thestatedtruth.com | July 8, 2011
So…….here we go with one of the very big problems in our economy. The government continues to say that we’re in a recovery, but it’s really just a hallucination. We”re being kind when we say that! Draw your own conclusions. The number of people not in the labor force who want a job now surged to a fresh all time high […]
Jobs Report Looks Punk…Bad Seats, Hey Buddy!
thestatedtruth.com | July 8, 2011
Should we be surprised? The U.S. economy barely added jobs in June and the unemployment rate rose to the highest level this year. To make matters worse, the birth/death adjustment was responsible for over 50% of the job payroll gains over the last 12 months!  And everybody thought we were just kidding when we said “bad seats, […]
We Wouldn’t Have Believed It …If We Hadn’t Seen It
thestatedtruth.com | July 7, 2011
This is ultra high tech….a 3 D printer that actually makes (literally builds) a copy of the item desired….in the case of the example below, it replicated a wrench. OMG…unbelievable! 3D printing is a form of additive manufacturing technology where a three dimensional object is created by laying down successive layers of material. 3D printers […]
The Mortgage Bankers Association Takes Down Numbers
thestatedtruth.com | July 6, 2011
Hmm, let’s see…..the Mortgage Bankers Association (village idiots) back in January targeted  $616 billion in new lending from mortgage loans covering the 2011 calendar year. It was a nice try but a stab in the dark. Guess what?  They just gutted that number…yep, down she goes, so now they expect it to come in around $432 billion for 2011. The village idiots were only off by […]
What If It Was True….Dream On My Friend! It’s All Spin
thestatedtruth.com | July 6, 2011
This from the great Art Cashin on the floor of the New York Stock Exchange……Art digs into this subject headline. “Borrowing by small U.S. businesses rose at a record pace in May”, according to data, a sign that economic growth is poised to pick up in coming months…..the insinuation is that the government and big […]
Consumer Loans Rebound, But….
thestatedtruth.com | July 5, 2011
Worry warts……from our shoes, we have never seen more shoppers out and about then on this Fourth of July weekend…..never. Spend now….worry later is the name of the game! Plain and simple. But in a Bloomberg Television interview with Carol Massar,  Stephen Roach of  Morgan Stanley said “What I worry about now is we are creating a whole new generation […]
An Interesting View
thestatedtruth.com | July 5, 2011
Here’s a heads up on the United States debt debacle…….word has come from Washington that President Obama will use the 14th amendment to declare the debt limit as unconstitutional, if need be. Rock and Roll! On the other hand, it may be unconstitutional to call the 14th amendment unconstitutional, if you get our drift. James […]
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