thestatedtruth.com | May 20, 2010
By Rita Nazareth May 20 (Bloomberg) — The Standard & Poor’s 500 Index’s 12 percent decline from April’s high may worsen amid concern that Europe’s debt crisis will derail global growth, said Mohamed A. El-Erian, chief executive officer of Pacific Investment Management Co. “This is not a typical retracement,†El-Erian, 51, whose firm runs the […]
thestatedtruth.com | May 19, 2010
Here is the scoop, or should we say the poop!     In case you missed it, Arizona voters overwhelmingly approved Proposition 100 on Tuesday, which raises the state sales tax by one percentage point for three years. A whopping two-thirds majority voted for the move. Arizona’s budget crisis is one of the worst in the country, […]
thestatedtruth.com | May 19, 2010
New BP Insertion Tube Isn’t Working  Submitted by George Washington on 05/19/2010   Tube inside the leaking oil pipe – unfortunately – isn’t doing very much. Specifically, the Miami Herald points out that – according to the Coast Guard – the spill is getting worse in spite of the insertion tube:  The massive Gulf […]
thestatedtruth.com | May 19, 2010
 by Tyler Durden on 05/19/2010  From Goldman’s Jan Hatzius. Delinquencies and Foreclosures Rise Again Data just released by the Mortgage Bankers’ Assn show that more than one-tenth of all US mortgages are delinquent, a new record high. Homes in foreclosure edge up slightly as well. One caveat: the increases are driven by seasonal […]
thestatedtruth.com | May 19, 2010
05/19/2010 14:01 -0500 ICI has reported the most recent fund flow data, and it’s a doozy. In the week following the flash crash, domestic equity funds saw a whopping $8.6 billion in outflows. As a result, the YTD outflow is over $9 billion, so in essence after almost going back to breakeven before May 6, […]
thestatedtruth.com | May 19, 2010
By Nicole Bullock in New York and Hal Weitzman in Chicago Published: May 19 2010 20:44 | Last updated: May 19,2010 Illinois used to have a plan to pay off the gaping shortfall in the pension funds that pay retired teachers, university employees, state workers, judges and politicians, Dan Long recalls. Mr Long, director of […]
thestatedtruth.com | May 19, 2010
Alan Zibel, AP Real Estate Writer,    Wednesday May 19, 2010 WASHINGTON (AP) — The mortgage crisis is dragging on the economic recovery as more homeowners fall behind on their payments. Analysts expect improvement soon, but the number of homeowners in default or at risk of foreclosure will have a lingering effect on the broader economy. […]
thestatedtruth.com | May 19, 2010
We ain’t seen nothing yet. There’s an old story of a guy who, when asked how he went broke during the Great Depression, responded: ‘slowly; then all at once’. We’re in a new era; which while there will be snapbacks and melancholy attempts to restore the past excesses (whether consumerism or governmental spending levels); they […]
thestatedtruth.com | May 18, 2010
By Martin Z. Braun and William Selway May 18, 2010Â (Blomberg) — A telephone call between a financial adviser in Beverly Hills and a trader in New York was all it took to fleece taxpayers on a water-and-sewer financing deal in West Virginia. The secret conversation was part of a conspiracy stretching across the U.S. […]
thestatedtruth.com | May 18, 2010
By John Pomfret and Blaine Harden Washington Post Staff Writers Tuesday, May 18, 2010; 2:47 PM South Korea will formally blame North Korea on Thursday for launching a torpedo at one of its warships in March, causing an explosion that killed 46 sailors and heightened tensions in one of the world’s most perilous regions, U.S. […]
thestatedtruth.com | May 18, 2010
Heads up …………..Former House Speaker Newt Gingrich gives President Barack Obama only a 20 percent chance of being reelected and says he might be the one to give Obama the boot. Giving predictions for November’s midterms, Gingrich said House Republicans will pick up somewhere between 40 and 65 or 70 seats enough to gain control […]
thestatedtruth.com | May 17, 2010
05/17/2010Â The latest IRS Statistics Of Income Report is out. In it, the IRS focuses on the wealthy segment of US population, i.e., those falling over the proverbial $200,000/year cutoff. What the IRS finds, is that in 2007, of the 4,576,315 tax returns with expanded income of $200,000 or more, 13,142 (0.287%) had no US […]
thestatedtruth.com | May 17, 2010
Katla Volcano Just Rumbled Permalink Is the sleeping Katla waking up? On May 17, 2010 08:32 UTC, The Iceland Met office indicates that a small earthquake has occurred at the Katla location. In what could be an early indication of the event that is expected to occur (an eruption of Katla), a small earthquake is […]
thestatedtruth.com | May 17, 2010
With only so much oil to go around, every new off-take agreement signed by the Chinese with the Saudis or Venezuelans, for example, is a net loss in supply to other bidders, notably the world’s largest energy consumer, the United States. That the Chinese, and other countries, are aggressively securing long- term energy arrangements, coincidental […]
thestatedtruth.com | May 15, 2010
 Jim Wilson/The New York Times By JUSTIN GILLIS Published: May 15, 2010 Scientists are finding enormous oil plumes in the deep waters of the Gulf of Mexico, including one as large as 10 miles long, 3 miles wide and 300 feet thick. The discovery is fresh evidence that the leak from the broken undersea […]
thestatedtruth.com | May 14, 2010
Fri May 14, 2010 3:01pm EDT  * Nevada has most filings per capita, Arizona filings soar  By Jonathan Stempel  NEW YORK, May 14 (Reuters) – U.S. bankruptcy filings resumed their upward climb in the first quarter, nearly equaling their highest level since 2005, as high unemployment and a still-strained housing market squeezed consumers. There were […]
thestatedtruth.com | May 14, 2010
The Road to Default Follow the capital flows, people. As money flees from the European bond market, it runs to the safety of US debt, stocks, and gold. The race to the fiat bottom, however, ensures that it’s only a matter of time before the US devalues again and capital begins to flee the safe […]
thestatedtruth.com | May 14, 2010
These security firms are dirty skunk smelling sewer rats in 30 feet of nuclear waste…..they’re so bad that they glow in the dark. The latest in a string of Wall Street inquiries is focused on municipal bonds. The SEC has reportedly opened a preliminary investigation into possible conflicts of interest among firms that sold municipal […]
thestatedtruth.com | May 14, 2010
thestatedtruth.com | May 14, 2010
Illinois deep in debt, doesn’t pay bills Crisis pushes businesses, organizations to edge of bankruptcy  By CHRISTOPHER WILLS SPRINGFIELD, Ill. – For 35 years, frail senior citizens in southern Illinois could turn to the Shawnee Development Council for help cleaning the house, buying groceries or any of the chores that make the difference between […]
thestatedtruth.com | May 13, 2010
May 13, 2010   “We have breaking news on the oil spill in the Gulf.   Anderson Cooper, 10 PM, May 13, 2010, CNN  CNN breaking news tonight reports that the estimate of 5000 barrels a day spilling from the BP well in the Gulf of Mexico may be very low. A Purdue […]
thestatedtruth.com | May 13, 2010
Muslims who want to live under Islamic Sharia law were told on Wednesday to get out of Australia , as the government targeted radicals in a bid to head off potential terror attacks.I am tired of this nation worrying about whether we are offending some individual or their culture. Since the terrorist attacks on Bali , we […]
thestatedtruth.com | May 12, 2010
May 12th, 2010Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â by Tim Manni Have you heard of any other government programs or tax credits for home buyers? While the federal homebuyer tax credit for both first-time and repeat buyers have expired, several states are offering their own incentives to promote and maintain homeownership. Â California Offers $10,000 to Homebuyers One example is […]
thestatedtruth.com | May 11, 2010
Source: U.S. Census The average person will have a hard time once retired. These stats are numbing to say the least. The average retirement accounts for many Americans is near $50,000, but half of Americans have $2,000 or less in their account. Many middle class Americans are simply not prepared for retirement. Even with Social Security, […]
thestatedtruth.com | May 11, 2010
(Reuters) – Nearly 40 million Americans received food stamps — the latest in an ever-higher string of record enrollment that dates from December 2008 and the U.S. recession, according to a government update. Food stamps are the primary federal anti-hunger program, helping poor people buy food. Enrollment is highest during times of economic distress. The […]
thestatedtruth.com | May 11, 2010
When we read this from Art Cashin, it becomes painfully clear why the government can’t be trusted on its statistics which are self serving to say the least! Dissecting The Somewhat Suspect Payroll Data – As we suggested in yesterday’s Comments, Friday’s non-farm payroll numbers got swallowed up by the on-going worries about Greece. But, the […]
thestatedtruth.com | May 10, 2010
Gordon_Gekko   05/10/2010   Satellite photo of Iceland’s Eyjafjallajökull volcano May 7th, 2010 (via NASA Earth Observatory) I know right now everyone is focused on the drama playing out in Europe over Greece et. al., but there is another little sideshow being produced over there by Mother Nature which has the potential to take centerestage and […]
thestatedtruth.com | May 10, 2010
By Larry Doyle|May 10, 2010, 12:57 PM|Author’s Website  Is the American taxpayer ultimately bailing out the European Union? Far fetched? Don’t be so sure. While the focus of the European bailout is on the European Central Bank, the European Union, and the IMF, little attention is being given to swap lines which were reopened […]
thestatedtruth.com | May 10, 2010
Tyler Durden   05/10/2010  Morgan Stanley’s Stephen Roach spoke with Bloomberg’s Tom Keene earlier, pointing out the most troubling statistic about recent market activity, which has to do with both the frequency and amplitude of catastrophes: “The crises are coming with greater frequency. Over the last 25 years we have had an average of one […]
thestatedtruth.com | May 10, 2010
May 10, 2010 In “Oil Slickonomicsâ€, part 1, http://www.cumber.com/commentary.aspx?file=050210.asp , we set forth three scenarios for the BP disaster. They are “bad,†“worse,†and “ugliest.â€Â Events are now moving from bad to worse.   BP’s attempt to install a large funnel-type device is running into problems. They have shifted the device several hundred yards away […]
thestatedtruth.com | May 9, 2010
This is huge……..European policy makers unveiled an unprecedented loan package worth nearly $1 trillion and a program of securities purchases as they spearheaded a drive to stop a sovereign-debt crisis.  Inflation dead ahead………Gold and Silver looks to be the ultimate store of wealth. The world debt will be staggering!    By James G. Neuger and […]
thestatedtruth.com | May 8, 2010
thestatedtruth.com | May 8, 2010
thestatedtruth.com | May 8, 2010
Though not every homeowner who’s underwater on a mortgage need worry, many are finding that a foreclosure or other form of housing loss can lead to a big tax obligation. As the U.S. economy continues struggling with the fallout of the debt-induced housing crisis, millions of homeowners like Ms. McDaniel are discovering that their decision […]
thestatedtruth.com | May 7, 2010
Risks associated with the fiscal deficits. And by the way, we should note that 25 of 27 European countries are running deficits in excess of 3% of GDP. Ireland has a deficit of 14.3%. Portugal is at almost 10%. Greece is almost 14%. Here is a table from Variant Perception in London, from data from […]
thestatedtruth.com | May 7, 2010
The solution is the problem. “Main Street is in the hands of a Roulette Wheel.”  The name of the “Roulette Wheel” is Credit Default Swaps. It does not matter what the G-7 or the G-20 does. It does not matter what the IMF, ECB and Fed under a beard do. Mrs. Merkel’s foolish political […]
thestatedtruth.com | May 7, 2010
The Globe and Mail in Toronto put together a good visual (below) on how financially exposed the larger and stronger economies of Western Europe are to the region’s teetering nations. Think of all the turmoil caused by Greece – the external debt load of Spain and Ireland together is more than eight times greater.
Coming Soon
bank owned banks congress consumer credit debt Economy education equity fund flow data food stamps foreclosures Free Money gdp gold Government Greece housing inflation Interest rates japan Middle East Money mutual fund outflows net worth new normal Oil pensions PIMCO politics Quote of the Day Real Estate Recession retirement Rich Rich man spending stock market Student Loans taxes tid bits unemployment Wall Street war Wealth Wealthy weather
Copyright © 2024 The Stated Truth
