thestatedtruth.com | June 14, 2010
Submitted by Tyler Durden on 06/14/2010 “If you were to have faxed me this balance sheet and asked me to guess who it belonged to, I would have guessed, Citadel, Magnetar or even a proprietary trading desk at a bank.†So begins a story by Alexandra Harris of the Medill Journalism school at Northwestern, which, […]
thestatedtruth.com | June 14, 2010
 By Lorraine Woellert and John Gittelsohn June 14 (Bloomberg) — The cost of fixing Fannie Mae and Freddie Mac, the mortgage companies that last year bought or guaranteed three-quarters of all U.S. home loans, will be at least $160 billion and could grow to as much as $1 trillion after the biggest bailout in […]
thestatedtruth.com | June 13, 2010
The cat is clearly out of the bag concerning the forthcoming bankruptcy of 33 states of the USA. Â This moronic New York non-solution to borrow from state pension funds, which now cannot meet their pension requirements, screams bankruptcy. The Administration calling for $50 billion for states and cities would appear to be confirmation of […]
thestatedtruth.com | June 13, 2010
June 12, 2010  Hugh Tomlinson  Saudi Arabia has conducted tests to stand down its air defences to enable Israeli jets to make a bombing raid on Iran’s nuclear facilities, The Times can reveal. In the week that the UN Security Council imposed a new round of sanctions on Tehran, defence sources in the Gulf […]
thestatedtruth.com | June 13, 2010
The State and local governments are broke. This will amount to an endless amount of state aid. It will end when, not if…..foreigners flee our bonds and then interest rates explode because of it! Obama Pushes for $50 Billion in State Aid by CalculatedRisk on 6/13/2010 From Jackie Calmes and Sheryl Gay Stolberg at the NY Times: Obama […]
thestatedtruth.com | June 11, 2010
The financial raid against the middle class – 9 of the 10 largest occupations in the U.S. have median wages between $8 per hour and $14per hour. The middle class is inheriting a new serfdom drowning in mountains of debt. The new two income trap. Posted: Fri, 11 Jun 2010 18:02:10 +0000 The war against […]
thestatedtruth.com | June 11, 2010
The Japanese PM is alluding to confidence; Confidence in the currency that denominates their debt. Since gold is rising in all global currencies, it suggests that confidence in those managing the existing fiat system is beginning to fray. Once confidence reaches critical mass, there is no stopping the deterioration. Japan could face a financial mess […]
thestatedtruth.com | June 11, 2010
The downward spiral in Western world economics will continue, here is why!  This is not rocket science folks!  $1.2 Quadrillion Derivatives Market                       By PETER COHAN        One of the biggest risks to the world’s financial health is the $1.2 quadrillion derivatives market. It’s complex, it’s unregulated, and it ought to be of concern […]
thestatedtruth.com | June 11, 2010
June 11 (Bloomberg) — Sales at U.S. retailers unexpectedly dropped in May for the first time in eight months, indicating the rebound in consumer spending is cooling as Americans boost savings. Purchases fell 1.2 percent, led by a record plunge in demand at building-material stores that may reflect the end of a government rebate on […]
thestatedtruth.com | June 10, 2010
Arizona Sells Supreme Court Building in $300 Million Bond Deal          By Allison Bennett and Brendan A. McGrail June 8 (Bloomberg) — Arizona, which sold state prisons and offices to raise cash six months ago, plans to borrow $300 million by marketing its Supreme Court building and about a dozen more properties through leaseback bonds […]
thestatedtruth.com | June 10, 2010
We have (2) options according to Oil expert Matthew Simmons. British Petroleum could be bankrupt over one bad drill hole! Everyone should click on the link below and listen to this informative CNBC video interview of Matthew Simmons! He says that this is the worst oil disaster ever.  Joe Weisenthal The Houston energy banker […]
thestatedtruth.com | June 8, 2010
        Tuesday, 8 June 2010 Spanish public sector workers are holding a strike in protest against an average 5% cut in pay that comes into effect this month. The cuts are part of a government austerity package aimed at reducing the country’s budget deficit, swollen by almost two years of recession. Hundreds of protesters gathered […]
thestatedtruth.com | June 8, 2010
Fitch Ratings agency warned Tuesday that Britain faces a “formidable†fiscal challenge and must cut its budget deficit faster to maintain its top credit rating. In a special report ahead of an emergency budget planned by the new coalition government, Fitch noted that the rise in public debt ratios since 2008 is faster than any […]
thestatedtruth.com | June 8, 2010
 From Art Cashin on the floor of The New York Stock Exchange today! Fedspeak – Chairman Bernanke gave a speech last night. It wasn’t exactly a barn burner but he did suggest that while the recovery will be slow and joyless, it will not produce a double dip.  Janet Yellen, in her Monday speech did […]
thestatedtruth.com | June 8, 2010
Remember this was done in 1948, that’s 62 years ago!! The formula for success hasn’t changed. Keep in mind as you watch this that it was done in ‘1948‘. Keep that in mind as you view it.  Click on 1948 Cartoon below – this cartoon is timeless and is just as true today as it […]
thestatedtruth.com | June 7, 2010
By Tyler Durden on 06/07/2010 Â April consumer credit came in slightly above expectations, at $2,423 billion in April, compared to $2,421.8 billion in March. The March number was interesting as it was revised notably lower from +$2 billion to -$5.4 billion, a revision the likes of which we can probably expect for April once […]
thestatedtruth.com | June 7, 2010
By Tyler Durden on 06/07/2010 Update: The pipe belongs to Enterprise Products Partners LP. Bloomberg reports: “Enterprise Products Partners LP shut a portion of its 36-inch natural gas pipeline after the line was struck by a fire. The line stretches from Waha in West Texas to the Carthage Hub in Panola, Rick Rainey, a company […]
thestatedtruth.com | June 7, 2010
More of the same old thing……..U.S.’s $13 Trillion Debt Poised to Overtake GDP…President Barack Obama is poised to increase the U.S. debt to a level that exceeds the value of the nation’s annual economic output, a step toward what Bill Gross called a debt super cycle. Bill Gross manages the worlds largest bond fund and […]
thestatedtruth.com | June 7, 2010
This is what we have to look forward to……………….John Williams of www.shadowstats.com, speaks.                                             ~~~~~~~~~~~~~~~~~    – 5.9% M3 Annual Decline Deepest Since Early-1930s Banking Crisis  – Post-World War II Record Drop in Inflation-Adjusted M3 Signals  Intensifying Business Contraction – Renewed Recession Will Set Stage for U.S. Solvency Crisis and Severe Inflation Threat
thestatedtruth.com | June 6, 2010
By Simon Kennedy and Mark Deen June 7 (Bloomberg) — Global policy makers are starting to clash over their individual prescriptions for recovery as Europe demands lower budget deficits while the U.S. warns against pushing exports instead of domestic demand. At a meeting of Group of 20 finance chiefs in Busan, South Korea, June 4-5, […]
thestatedtruth.com | June 4, 2010
Forbes.com Street Talk With Bob Lenzner Focus hard on this shocking Wall Street reality: The top six bank holding companies earned an aggregate of $51 billion in pretax income in 2009. We’re talking about JPMorgan Chase, Goldman Sachs, Bank of America, Morgan Stanley, Citigroup and Wells Fargo. All of this pretax income can be attributed […]
thestatedtruth.com | June 4, 2010
Robert Reich was the nation’s 22’nd Secretary Of Labor. By Robert Reich  Jun 4, 2010 The Labor Department reports this morning that the private sector added a measly 41,000 net new jobs in May. But at least 100,000 new jobs are needed every month just to keep up with population growth. In other words, the […]
thestatedtruth.com | June 4, 2010
By Jonathan Stempel NEW YORK, June 3 (Reuters)Â Â Â Â The pace of U.S. bankruptcy filings edged up in May to the second-highest daily level since 2005, reflecting the difficulty Americans have in working off excess debt even as the economy improves. There were 133,459 U.S. bankruptcy petitions filed in May, 10 percent more than a year […]
thestatedtruth.com | June 4, 2010
 By Jim Polson and Jessica Resnick-Ault June 4 (Bloomberg) — BP Plc may be able to capture more than 90 percent of the oil leaking from its Gulf of Mexico well with the cap it put in place last night. “I’d like to see us capture 90-plus percent of this flow,†Doug Suttles, BP’s […]
thestatedtruth.com | June 3, 2010
June 3, 2010 By John R. Taylor, Jr. Chief Investment Officer Troubles are everywhere, in the Gulf of Mexico, in Greece, and in Korea, to name just a few, but we already know about these problems. Other than the tragicomic opera being played out along the 38th parallel and in the waters around the western […]
thestatedtruth.com | June 3, 2010
By WILLIAM J. BROAD Published: June 3, 2010 The chatter began weeks ago as armchair engineers brainstormed for ways to stop the torrent of oil spilling into the Gulf of Mexico: What about nuking the well? Energy Secretary Steven Chu is not considering a bomb. Â Decades ago, the Soviet Union reportedly used nuclear blasts […]
thestatedtruth.com | June 3, 2010
There’s more going on here. For a variety of reasons, lenders are most likely to foreclose on property they own but less likely to take action on behalf of the investors whose mortgages they’re servicing, and most loans are owned by investors. Foreclosing on a loan likely means that an investor will have to write […]
thestatedtruth.com | June 3, 2010
JOHN RUTLEDGE,   The Wall Street Journal…..Nero fiddled while Rome burned, but at least he didn’t strike the match. Members of Congress are doing Nero one better. In the middle of the second global financial crisis in two years, Congress is preparing to dramatically raise a key tax rate on long-term investment. This is sure to […]
thestatedtruth.com | June 2, 2010
By ELIZABETH HOLMES Retail sales in May remained weak following a lackluster April, according to one spending barometer, providing further indication that any recovery in consumer spending is going to be choppy. The slowdown follows a strong holiday season and start to the year, when consumers showed a willingness to spend again and even pay […]
thestatedtruth.com | June 2, 2010
Love him or hate him, he sure hits the nail on the head with this! Bill Gates recently gave a speech at a High School about 11 things they did not and will not learn in school. He talks about how feel-good, politically correct teachings created a generation of kids with no concept of reality […]
thestatedtruth.com | June 2, 2010
By Andrew Frye and William Selway June 2 (Bloomberg) — Warren Buffett, whose Berkshire Hathaway Inc. has been trimming its investment in municipal debt, predicted a “terrible problem†for the bonds in coming years. “There will be a terrible problem and then the question becomes will the federal government help,†Buffett, 79, said today at […]
thestatedtruth.com | June 2, 2010
July isn’t too shabby, but it has the misfortune of sitting between the only two months – June and September – that have produced losses, on average, since 1950. August has delivered a gain, but just barely. So when you add it all up, you can see that the stock market has not provided a […]
thestatedtruth.com | June 2, 2010
June 2, 2010 By MATTHEW L. WALD A report just issued by the Energy Department and the North American Electric Reliability Corporation, known as Nerc, an industry group that polices the power grid, lists three categories of threats to the grid: coordinated cyber- and physical attacks, pandemic disease and electromagnetic damage. Grid experts have long […]
thestatedtruth.com | June 1, 2010
State Pensions: I’ll Buy Your Bonds if You Buy Mine by John Rubino June 1, 2010 Here’s a study from Northwestern University’s Kellogg School of Management that ties in nicely with the muni bond collapse qnd  federal bailout of the states. State pension funds headed for crisis of national proportion According to new research from the […]
thestatedtruth.com | June 1, 2010
France admitted that it faces a challenge in maintaining its triple-A credit rating, and announced some controversial cost-cutting measures in an effort to soothe market anxieties. France’s actions follow a Friday downgrade of Spain to AA+ from AAA.
thestatedtruth.com | June 1, 2010
  June 01, 2010 NEW YORK — A member of New York Gov. David Paterson’s administration said the governor is putting together a plan that would lay off thousands of government workers at the beginning of next year to help balance the state budget. The administration official confirmed a report Tuesday in The New York […]
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