Personal Savings As A Percentage Of Disposable Income
thestatedtruth.com | October 31, 2009
thestatedtruth.com | October 31, 2009
thestatedtruth.com | October 31, 2009
“Inflation is a monetary phenomenon, as Milton Friedman said. But hyperinflation is always and everywhere a political phenomenon, in the sense that it cannot occur without a fundamental malfunction of a country’s political economy.” Look at the chart below. Using realistic assumptions, It suggests that the annual US government fiscal deficit will approach $2 trillion […]
thestatedtruth.com | October 31, 2009
A Â bunch of crap……….Banks have generally been keeping a lid on commercial real-estate losses by extending these mortgages upon maturity. However, that practice, billed by many industry observers as “extending and pretending,” has come under criticism by some analysts and investors as it promises to put off the pains into the future. Â Â Banks Get […]
thestatedtruth.com | October 28, 2009
thestatedtruth.com | October 27, 2009
The U.S. government is likely to inject $2.8 billion to $5.6 billion of capital into the Detroit company, on top of the $12.5 billion that GMAC has received since December 2008, these people said. The latest infusion would come in the form of preferred stock. The government’s 34% stake in the company could increase if […]
thestatedtruth.com | October 26, 2009
thestatedtruth.com | October 26, 2009
 Subprime resets crushed the housing market in ’07 and ’08. Now a new wave of adjustable-rate mortgages is just around the corner. “These helped frame where we are in the mortgage crisis,â€Â “which has been the main shark in the water over the past couple of years. You should know where that shark is […]
thestatedtruth.com | October 25, 2009
Debts have value only to the extent that they are being paid, and a rapidly rising number of U.S. households aren’t doing so. Those defaults are leading to losses at banks, a wave of foreclosures, trouble for neighborhoods and strife for families. But they are also providing an immediate, albeit radical, form of debt relief. […]
thestatedtruth.com | October 23, 2009
Commercial Real Estate Bust Looms By John W. Schoen Thurs., Oct . 22, 2009 That big whoosh you’re hearing is the air rushing out of a commercial real estate bubble. More than two years into the worst housing crisis in decades, commercial real estate is shaping up as the second half of what some are […]
thestatedtruth.com | October 20, 2009
Oct. 20, 2009, 12:25 p.m. EDT Hedge Manager Sprott Sees Trouble  US government is new “dead man walking” By Alistair Barr, MarketWatch NEW YORK (MarketWatch) – When so-called quantitative easing by central banks ends, the world economy may slip back into trouble, Canadian hedge fund manager Eric Sprott warned on Tuesday. Toronto-based Sprott called […]
thestatedtruth.com | October 20, 2009
thestatedtruth.com | October 19, 2009
Oct. 19, 2009, 2:39 p.m. EDT NEW YORK (MarketWatch) — Greenlight Capital is betting on the possibility of a major currency collapse and a surge in interest rates, the hedge-fund firm’s manager David Einhorn said Monday, citing ballooning government deficits in some of the world’s most developed countries. Einhorn, who warned about Lehman Brothers’ frailty […]
thestatedtruth.com | October 18, 2009
Turner Lost CNN, Fonda, Fortune, Feels ‘Like a Dummy’ By Brett Pulley and Anita Sharpe Oct. 16 (Bloomberg) — Ted Turner, the cable television pioneer who became one of the richest Americans, recalls the pain of losing his job at Time Warner Inc., his wife, the actress Jane Fonda, and $7 billion of his fortune. […]
thestatedtruth.com | October 16, 2009
Geithner Says U.S. Must Instill Confidence in Fiscal Management By Robert Schmidt Oct. 16 (Bloomberg) — Treasury Secretary Timothy Geithner said the U.S. must reduce its record budget deficit as soon as the economy returns to a sustainable growth rate without relying on government assistance. “Americans understand that we have to go back to living […]
thestatedtruth.com | October 16, 2009
Minnesota Pigs Tested for H1N1, May Be First in U.S.  By Whitney McFerron Oct. 16 (Bloomberg) — Three pigs from the Minnesota state fair have been “tentatively identified†as having swine flu in what may be the first U.S. cases of the H1N1 virus among domestic livestock. The pigs were tested at the fair […]
thestatedtruth.com | October 15, 2009
“US foreclosures jumped to an all-time high of 937,840 in the third quarter,” writes Ian Mathias in today’s issue of The 5 Min. Forecast. “That’s a 23% rise from the same time last year, says a report from RealtyTrac today. One in every 136 households received a filing – also a record. Once again Nevada […]
thestatedtruth.com | October 15, 2009
That Was Then, This Is Now – In his terrific “Big Picture†blog, Barry Ritholtz cited a neat 1999 comparison by Peter Boockvar. Here’s the citation…… With the DJIA approaching 10,000 again, let’s reminisce about 1999, the year it first passed that magic level on March 29th. Millennium by the Backstreet Boys was the best […]
thestatedtruth.com | October 15, 2009
States’ Tax Revenue Fell Record $63 Billion in Year By Michael Weiss Oct. 15 (Bloomberg) — States’ tax revenue fell a record $63 billion during the fiscal year ended June 30, the Nelson A. Rockefeller Institute of Government, an Albany based research organization, said in a report released today. The data, based on U.S. Census […]
thestatedtruth.com | October 15, 2009
U.S. Foreclosure Filings Jump 23% to Record in Third Quarter By Dan Levy Oct. 15 (Bloomberg) — U.S. foreclosure filings climbed to a record in the third quarter as lenders seized more properties from delinquent borrowers, according to RealtyTrac Inc. A total of 937,840 homes received a default or auction notice or were repossessed by […]
thestatedtruth.com | October 14, 2009
by Bill Bonner London, England Two important items in the news today: First, Bloomberg reports that retails sales fell 2.1% in September – the biggest decrease this year. Know what that means? It means the “Age of Thrift” is here…and that consumers really are cutting back – just like we said they would. And it […]
thestatedtruth.com | October 14, 2009
“China National Offshore Oil Corp and Exxon Mobil are about to enter a bidding war over oil-rich water near Ghana. At stake is ‘Jubilee,’ a recently discovered offshore site that probably holds a couple billion barrels of oil. This isn’t China’s state-owned offshore oil company’s first foray into the global energy grab, but its one […]
thestatedtruth.com | October 13, 2009
October 13, 1792 White House Cornerstone Laid The cornerstone is laid for a presidential residence in the newly designated capital city of Washington. In 1800, President John Adams became the first president to reside in the executive mansion, which soon became known as the “White House” because its white-gray Virginia freestone contrasted strikingly with the […]
thestatedtruth.com | October 13, 2009
“What happened to global warming?” asks a headline at the BBC. Folks in the Rockies are shivering. “Western Montana breaks records,” says a report. Missoula reported a low of 8 degrees yesterday…14 degrees lower than the previous record for this early in the season. Nearby Idaho had heavy snow last week too. Same thing in […]
thestatedtruth.com | October 12, 2009
The fiscal condition of the United Sates has deteriorated dramatically during the last several years. On the basis of current obligations, US indebtedness totals “only” about $12 trillion. But when utilizing traditional GAAP accounting – the kind of accounting that every public company in the United States MUST use – US indebtedness soars to $74 […]
thestatedtruth.com | October 12, 2009
 Interesting huh? Consumer credit has fallen off a cliff. What does that mean exactly? It means Americans aren’t borrowing…and they aren’t buying either. From The Daily Reckoning
thestatedtruth.com | October 11, 2009
In the 1700’s, at local taverns , pubs, and bars, people drank from pint and quart-sized containers. A bar maid’s job was to keep an eye on the customers and keep the drinks coming. She had to pay close attention and remember who was drinking in ‘pints’ and who was drinking in ‘quarts,’ hence the term ‘minding your […]
thestatedtruth.com | October 11, 2009
Thoughts from the Frontline Weekly Newsletter Killing the Goose by John Mauldin October 9, 2009 In this issue: Killing the Goose What Were We Thinking? Let’s Play Turn It Around Detroit, the Red Sox and the Yankees, and Traveling Too Much  Peggy Noonan, maybe the most gifted essayist of our time, wrote a few weeks […]
thestatedtruth.com | October 8, 2009
 How can they lose this much money?    Oh, they’re giving loans to the same home buyers that wiped out sub prime. The Federal Housing Administration, which insures mortgages with low down payments, may require a U.S. bailout because of $54 billion more in losses than it can withstand, a former Fannie Mae executive said. It […]
thestatedtruth.com | October 6, 2009
In the late 1700’s, many houses consisted of a large room with only one chair. Commonly, a long wide board folded down from the wall, and was used for dining. The ‘head of the household’ always sat in the chair while everyone else ate sitting on the floor. Occasionally a guest, who was usually a man, would […]
thestatedtruth.com | October 6, 2009
Exxon Mobil Passes PetroChina as World’s Most Valuable Company By Joe Carroll Oct. 6 (Bloomberg) — Exxon Mobil Corp. overtook PetroChina Co. as the world’s most valuable company, ending a four-month reign by the Beijing-based oil producer after price controls in China failed to keep pace with rising crude costs. State-controlled PetroChina’s Shanghai-traded shares have […]
thestatedtruth.com | October 5, 2009
In the 1700’s men and women took baths only twice a year (May and October). Women kept their hair covered, while men shaved their heads (because of lice and bugs) and wore wigs. Wealthy men could afford good wigs made from wool. They couldn’t wash the wigs, so to clean them they would carve out a loaf of […]
thestatedtruth.com | October 3, 2009
In George Washington’s days, there were no cameras. One’s image was either sculpted or painted. Some paintings of George Washington showed him standing behind a desk with one arm behind his back while others showed both legs and both arms. Prices charged by painters were not based on how many people were to be painted, but by how […]
thestatedtruth.com | October 3, 2009
 Only 20 years ago every broker was convinced Japan would soon be the world’s economic powerhouse. Eight of the world’s ten biggest companies were Japanese in 1988. Today, the biggest (Toyota) is 22nd and only five others are in the top 100.  Stunning to say the least…………………
thestatedtruth.com | October 2, 2009
thestatedtruth.com | October 1, 2009
 Swiss Health Without Public Option  By NELSON D. SCHWARTZ October 1, 2009 ZURICH — Like every other country in Europe, Switzerland guarantees health care for all its citizens. But the system here does not remotely resemble the model of bureaucratic, socialized medicine often cited by opponents of universal coverage in the United States. Swiss […]
thestatedtruth.com | October 1, 2009
Bernanke Urges ‘Strong’ Consumer Protection in House Testimony By Scott Lanman and Craig Torres Oct. 1 (Bloomberg) — Federal Reserve Chairman Ben S. Bernanke told lawmakers that protecting consumers of financial services is “vitally important,†while omitting prior criticism of an Obama administration proposal to shift such powers from the Fed to a new agency. […]
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