thestatedtruth.com | July 31, 2010
The economy of the U.S. grew at a weaker than expected 2.4% in the second quarter, but the first quarter was revised back up to 3.7% on the strength of stronger-than-projected inventory rebuilding. But the recession years were revised downward rather significantly for this late in the cycle. We find now that the recession was […]
thestatedtruth.com | July 30, 2010
The economy is so bad that: I just got a pre-declined credit card in the mail. Â African television stations are now showing ‘Sponsor an American Child’ commercials! Â I ordered a burger at McDonald’s and the kid behind the counter asked, “Can you afford fries with that?” Â CEO’s are now playing miniature golf. […]
thestatedtruth.com | July 30, 2010
Posted Friday July 30,  2010 By: David A. Patten Former GOP House Speaker Newt Gingrich warned Thursday that President Obama and congressional Democrats appear to be on the verge of repeating the same mistakes that aggravated the Great Depression, adding that letting the Bush tax cuts expire would prove “very dangerous” for the nation’s economy. Speaking […]
thestatedtruth.com | July 30, 2010
Hint……this is not a pretty picture! Posted from zerohedge.com Exerts from a Goldman review are shown below. The chart below provides an integrated look at the GDP growth impact of fiscal policy at the federal, state, and local level.  These numbers are based on our current assumptions that (1) Congress will not extend emergency unemployment benefits beyond the […]
thestatedtruth.com | July 30, 2010
By John Hughes      July 30, 2010 The U.S. House passed legislation that would increase by sixfold the minimum experience pilots need to work at airlines in response to a commuter-plane crash. The requirement that pilots have 1,500 hours of flight time, surpassing the current 250-hour minimum, was sought by pilot unions and relatives of victims […]
thestatedtruth.com | July 29, 2010
Exerts from:             Bill Gross    Investment Outlook    August 2010 Observers will point out, as shown in the following chart, that global population growth rates have been declining since 1970 with no apparent ill effects. True, until 2008, I suppose. The fact is that since the 1970s we have never really experienced a secular period during which […]
thestatedtruth.com | July 29, 2010
Broken Financial Generations – U.S. households only have a median of $2,000 saved in retirement accounts. The median net worth for those 25 to 34 is $3,700. Which generation will support the economy going forward? Social Security beneficiaries make up 19 percent of all Americans.     This is setting up a big problem.  The demographics of the […]
thestatedtruth.com | July 29, 2010
July 29, 2010Â The unusually cool summer continued in Southern California, where several new record-low temperatures were recorded on Wednesday. The 68-degree low at Los Angeles International Airport broke the old record low for the day, which was 70 degrees in 1991. Santa Barbara (68) and San Luis Obispo (69) broke records as well. The […]
thestatedtruth.com | July 29, 2010
A drop in usage is showing up just as health-care companies report financial results. Insurers, lab-testing companies, hospitals and doctor-billing concerns say that patient visits, drug prescriptions and procedures were down in the second quarter from year-ago levels. “People just aren’t using health-care like they have,” said Wayne DeVeydt, WellPoint Inc.’s chief financial officer, in an […]
thestatedtruth.com | July 28, 2010
By Alex Kowalski – Jul 28, 2010 Pacific Investment Management Co.’s Bill Gross said deficit spending by governments that seek to maintain artificial levels of consumption “can be compared to flushing money down an economic toilet.†Without acceleration in population growth, developed countries finance more consumption to maintain economic growth, the world’s biggest bond-fund manager […]
thestatedtruth.com | July 27, 2010
This means each additional dollar of debt is now working its way into a negative muliplyer effect on our economy….not to long ago, it had just the opposite effect, the more debt, the more we would grow. Now at some point going forward, a hiccup in the trillions of dollars of derivatives will set off a domino effect of defaults, […]
thestatedtruth.com | July 27, 2010
Just a reminder…… Jim Rogers was George Soro’s original partner for the Quantum Fund. Both are now billionaires! Robert Shiller, co-creator of the Standard & Poor’s/Case-Shiller house price index, also warned that the next downturn may come, maybe even sooner. By James Quinn, US Business Editor Published 27 Jul 2010 Mr Rogers, the respected currency trader and hedge […]
thestatedtruth.com | July 27, 2010
“Noisy†economic reports underscore the “unusually uncertain†outlook cited by Federal Reserve Chairman Ben S. Bernanke, according to Pacific Investment Management Co.’s Mohamed El-Erian. Corporate earnings are backward-looking, and the key economic issue is the U.S. labor market, El-Erian, Pimco’s chief executive and co-chief investment officer, said in a radio interview today with Tom Keene […]
thestatedtruth.com | July 27, 2010
U.S. local governments may cut almost 500,000 jobs through next year to cope with sliding property taxes, a decline in state and federal aid and added need for social services, according to a report released today. The report, a result of a survey by the National League of Cities, the U.S. Conference of Mayors and […]
thestatedtruth.com | July 27, 2010
About 18.9 million homes in the U.S. stood empty during the second quarter as surging foreclosures helped push ownership to the lowest level in a decade. The number of vacant properties, including foreclosures, residences for sale and vacation homes, rose from 18.6 million in the year-earlier quarter, the U.S. Census Bureau said in a report […]
thestatedtruth.com | July 27, 2010
This is going to be the new normal……specifically the savings part! American consumers lost confidence in July, shaken by mounting concern over jobs and wages that threatens to constrain the economic recovery. The Conference Board’s sentiment index fell to 50.4, below the median forecast of economists surveyed by Bloomberg News and the lowest level in five months. […]
thestatedtruth.com | July 26, 2010
July 26 (Reuters) – Iranian criticism of Russian President Dmitry Medvedev is “unacceptable” and “fruitless, irresponsible rhetoric”, the Russian Foreign Ministry said on Monday. Medvedev told foreign ambassadors on July 12 that Iran was moving closer to the potential to create nuclear weapons. Iranian President Mahmoud Ahmadinejad reacted harshly last weekend, calling Medvedev’s statement “the […]
thestatedtruth.com | July 26, 2010
WASHINGTON – It could take days to restore power to hundreds of thousands of people in the D.C. area after a violent storm downed power lines and trees and left three people dead. Powerful, fast-moving storms swept through the region Sunday, leaving hundreds of thousands of families without electricity. Three people died as a result […]
thestatedtruth.com | July 24, 2010
 About 31 percent of U.S. oil output and about 10 percent of gas production, comes from the Gulf of Mexico according to the Energy Department By Dan Hart – Jul 24, 2010 Bonnie has degenerated to a “disorganized area of low pressure†near the U.S. Gulf Coast, hours after the National Hurricane Center lifted […]
thestatedtruth.com | July 24, 2010
THIS MAY BE THE ONLY THING GLOBAL ECONOMIES OF THE WORLD HAVE TO LOOK FORWARD TO.  IN THE END, EVERYONE WILL BE WORSE OFF.  GOLD ANYONE? Gloom, Boom and Doom publisher Marc Faber says the Fed will begin “massive†quantitative easing by October.  “The economy is not robust,†Faber told Bloomberg. “We have mixed signals, but […]
thestatedtruth.com | July 24, 2010
By John Mauldin July 24, 2010 Â The Elements of Deflation Just as every school child knows that water is formed by the two elements of hydrogen and oxygen in a very simple combination we all know as H2O, so deflation has its own elements of composition. Let’s look at some of them (in no […]
thestatedtruth.com | July 22, 2010
Gobbledygook?    We encounter it frequently.   Contracts written at a reading level most can’t understand. Only one in five adults reads above a 12th-grade level.   By Connie Prater Credit card agreements are written on average at a 12th grade reading level, making them not understandable to four out of five adults, according to a CreditCards.com […]
thestatedtruth.com | July 22, 2010
 By Lydia Saad   PRINCETON, NJ — Gallup’s 2010 Confidence in Institutions poll finds Congress ranking dead last out of the 16 institutions rated this year. Eleven percent of Americans say they have “a great deal” or “quite a lot” of confidence in Congress, down from 17% in 2009 and a percentage point lower than […]
thestatedtruth.com | July 22, 2010
  * Louisiana declares state of emergency  * U.S. officials evaluating whether to evacuate area  Thu Jul 22, 2010 By Kristen Hays and Anna Driver HOUSTON, July 22 (Reuters) – BP Plc (BP.L) (BP.N) oil spill workers in the Gulf of Mexico prepared for a possible evacuation on Thursday as a tropical storm threatened […]
thestatedtruth.com | July 21, 2010
 Posted July 21, 2010 CHICAGO (Reuters) – The intense heat and humidity that blanketed central Kansas since late last week have killed more than 2,000 cattle and one state official called the heat-related losses the worst in his 17 years on the job. However, conditions for the cattle improved somewhat on Tuesday as the […]
thestatedtruth.com | July 20, 2010
Source: Institute for Policy Studies The above shows a solid plutocracy is already here. Wealth is the key issue. As many people are now finding out simply having a massive home with a jumbo mortgage and a leased foreign car is no sign of wealth. In fact, that can be taken from you quickly (and […]
thestatedtruth.com | July 20, 2010
For decades the idea was that you can spend more than you earn. This came all the way from the top so it shouldn’t be a surprise that many in the middle class took their signal from their leaders. What happened? Source: Lew Rockwell The personal savings rate went so low that it went from […]
thestatedtruth.com | July 20, 2010
Interesting happenings between U.S. government and BP………….A standoff between BP and the US government over the handling of the stricken Macondo well in the Gulf of Mexico continued with a sharp exchange of words over the best way to keep the oil contained .   At the heart of the dispute is anxiety about what is […]
thestatedtruth.com | July 20, 2010
Write up from Byron Wein…………”The Smartest Man In Europe” Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Commentary courtesy of www.fmxconnect.com We recently came across an interesting piece from Blackstone on the European Stimulus and the road to recovery. Bryon Wein is a well known strategist. The most salient points are outlined below: No clear way out of the enormous debt burden […]
thestatedtruth.com | July 19, 2010
July 19 (Bloomberg) — Billionaire investor George Soros said U.S. lawmakers should refrain from withdrawing stimulus measures because the economy hasn’t strengthened enough.“I think the timing is wrong with withdrawing the stimulus,†Soros said at the Hamptons Institute in East Hampton, New York on July 16. “Cutting employment benefits, cutting aid to states that are […]
thestatedtruth.com | July 19, 2010
   July 19, 2010    .     By Carly Porter               AccuWeather.com Staff Writer    . A well-developed tropical wave currently bringing strong winds and rough seas north of Puerto Rico could develop into a tropical system by the weekend. According to AccuWeather.com hurricane meteorologist Dan Kottlowski, there is high potential for this tropical wave to evolve […]
thestatedtruth.com | July 18, 2010
Must listen interview of Matt Simmons. Absolutely a must listen interview. He is not sure a trillion dollars will be enough to clean up the Gulf!   Simmons thinks British Petroleum is a dead company walking. http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/7/17_Matt_Simmons.html
thestatedtruth.com | July 17, 2010
Generally very good news out of the Gulf of Mexico….Bloomberg says the well is capped successfully,     AP says looking much better, but still puzzling readings from busted well. BP Says Cracks in Well Head Still Possible As Cap Test Goes On But Are Encouraged.    Bloomberg        07-17-2010  BP Plc said tests on its Macondo well show no […]
thestatedtruth.com | July 16, 2010
CNBC’s Simon Hobbs fought it out with Michael Pento today about the reality of the current economic situation in the U.S. Â http://www.youtube.com/watch?v=mfd8ZwMfG34&feature=player_embedded
thestatedtruth.com | July 16, 2010
One, but not the only reason the commodity grain markets have been going bananas lately.  An emergency drought situation has been declared in 19 of Russia’s 83 regions with crops dying on an estimated 9.6 million hectares of fields. The drought-struck areas were suffering “colossal destruction,” Agriculture Minister Yelena Skrynnik said.   July 16, 2010 […]
thestatedtruth.com | July 16, 2010
By CalculatedRisk Posted 07-16-2010 According to the Bank for International Settlements, at year end 2009 worldwide sovereign debt exceeded $34 trillion, and is greater than the amount of corporate bonds outstanding. Japan and the U.S. dwarf most other borrowers. Together they have about half of all sovereign debt worldwide. Still, 23 other countries have over […]
thestatedtruth.com | July 16, 2010
Michigan Consumer Sentiment Index Fell in July By Shobhana Chandra      Jul 16, 2010 July 16 (Bloomberg) — The Thomson Reuters/University of Michigan preliminary index of consumer sentiment fell to 66.5 in July from 76 a month earlier, below forecasts. Economists surveyed by Bloomberg News had a median projection of 74. Bloomberg’s Mike McKee reports. (Source: […]
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
