thestatedtruth.com | December 6, 2010
This is an interesting summary of a review on retirement plans “Broken Promises” from Knowledge@Wharton …… From the women’s movement to the sexual revolution, the generation of 77 million baby boomers born in the United States between 1946 and 1964 has spent the last five decades loudly breaking new ground. Now, as they head toward their “golden years,” […]
Category: Commentary, Economy, National News, News Letters, Pensions and Retirement, Wall Street |
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Tags: Broken Pension Promises
thestatedtruth.com | December 6, 2010
We agree with this new bill to protect national security interests. As for corporate interests, well that’s another story!  These excerts from The Hill Blog: Sens. John Ensign (R-Nev.), Joe Lieberman (I-Conn.) and Scott Brown (R-Mass.) introduced a bill Thursday aimed at stopping WikiLeaks by making it illegal to publish the names of military […]
Category: Commentary, National News, National Security, World News |
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Tags: Anti-wikileaks bill
thestatedtruth.com | December 6, 2010
From Art Cashin on the floor of the New York Stock Exchange On this day in about 705 A.D., the Nordic tribes of Europe, recently converted to Christianity, began to adopt a theologically un-definable affection to an Archbishop who had existed three centuries before in an area east of Greece. Legend says he was as […]
Category: Commentary, Tid Bits |
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Tags: The Sory of santa Claus
thestatedtruth.com | December 6, 2010
This from NBC: Julian Assange’s attorney says a place and time are being negotiated for a meeting with Scotland Yard. There will be a waiting line of countries that want to arrest Julian Assange. Interestingly, despite discussion that the British authorities are well aware of where Assange is located, his arrest has so far been elusive.  It […]
Category: Commentary, Economy, National News, National Security, World News |
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Tags: julian assange, wikileaks
thestatedtruth.com | December 5, 2010
Let’s put these two answers in deep perspective….Troubling is putting it mildly! Q: [On calls to cut the deficit] We’re looking at ten, 15, 20 years from now, a situation where almost the entire federal budget will be spent on Medicare, Medicaid, Social Security, and interest on the debt. There won’t be any money left […]
Category: Commentary, Economy, National News, Pensions and Retirement, Wall Street, World News |
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Tags: Bernankes's Troubling Answers on 60 Minutes
thestatedtruth.com | December 5, 2010
Here are a couple of zinggers…..Ben Bernanke: Economic recovery is very close to not being self-sustaining…..Anyone surprised on this one? …….and……We’re looking at ten, 15, 20 years from now, a situation where almost the entire federal budget will be spent on Medicare, Medicaid, Social Security, and interest on the debt. There won’t be any money left for the military […]
Category: Commentary, Economy, Finance, Interest Rates, Bonds, National News, Wall Street, World News |
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thestatedtruth.com | December 5, 2010
Sounds like the United States had better re-assess its relationship with China……The situation becomes even more interesting with China owning so much of the United States debt (bonds). Oh, that’s right, we can’t…..nobody else will buy our debt. “Patriotic hackers†backed by Chinese authorities conducted extensive computer hacking on U.S. government agencies and companies, including computer networks of […]
Category: Commentary, Economy, Finance, Interest Rates, Bonds, National News, Wall Street, World News |
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Tags: China and U.S. debt
thestatedtruth.com | December 5, 2010
Inflation anybody? “What we’re seeing is really just the tip of the iceberg,†Trilby Lundberg said today in a telephone interview. “At the retail level, we could see another six to eight more cents†per gallon as refiners pass through higher crude costs. The average price for regular gasoline at U.S. filling stations rose 3.92 cents […]
Category: Commentary, Economy, National News, Oil and Nat Gas, Wall Street, World News |
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Tags: Gasoline prices rising fast
thestatedtruth.com | December 5, 2010
It sounds like we have everybody’s attention here, doesn’t it! President Barack Obama said any new legislation must extend federal jobless aid and include his own soon-to-expire tax policies. Obama told Democratic leaders in Congress he’d reject even a temporary extension of the Bush-era tax cuts if the legislation doesn’t encompass his own policies, which include […]
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Tags: Obama tax demands
thestatedtruth.com | December 5, 2010
Well, here is our opinion on this and it’s just an opinion. Sounds like the New Orleans Hornets name will be retired at some point (maybe next season) just like the baseball Motreal Expos were (they moved to Washington D.C. and became the Nationals), and the Supersonics may be reestablished in Seattle. The old Sonics moved […]
Category: Commentary, National News, Sports, World News |
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Tags: NBA to own Hornetts, New Orleans Hornets taken over by NBA
thestatedtruth.com | December 5, 2010
It tells us that things are not, repeat are not getting materially better. People are giving up on getting a job. This is not what we want to see, especially not at this point in an economic recovery (that’s what the government calls this). The Unemployment is shown by the (red line). The Employment-Population ratio declined to […]
Category: Charts and Graphs, Commentary, National News, Wall Street |
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Tags: employment population ratio, job chart
thestatedtruth.com | December 5, 2010
7:00 PM: Fed Chairman Bernanke discusses the economy on CBS 60 Minutes. This interview took place on November 30th, and parts were leaked out on Friday.
Category: Commentary, Economy, National News, Wall Street |
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thestatedtruth.com | December 5, 2010
Hmm…..It’s really a simple concept…..Even with sales below prior peeks, the auto makers are profitable now because they have shed so much debt. GM did it through bankruptcy which converted much of its high interest bond debt into equity, and Ford did a bond to stock swap and buy back.  When you don’t pay all of that interest, natuarlly your expenses […]
Category: Charts and Graphs, Commentary, Economy, National News, Wall Street |
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thestatedtruth.com | December 4, 2010
Federal, State and Local City workers are about to see related  jobs destroyed. This has never…read never happened before. Governments at every level are broke. This is going to end badly. It will take a while, but it will end badly. There simply isn’t economic growth when this happens. Period! A few years down the road, […]
Category: Commentary, Economy, Finance, National News, Wall Street, World News |
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Tags: David Stockman's Opinions
thestatedtruth.com | December 4, 2010
From Art Cashin on the floor of The New York Stock Exchange………..Moscow and Europe may have its coldest winter in 500 years! Wheat and Rice in short supply and grain supplies indicating potential shortages next year…..Oh, and Oil heading back towards $100 a barrel! It’s going to be an expensive winter for heating on the U.S. East Coast, in Europe […]
Category: Commentary, Economy, National News, Wall Street, Weather, World News |
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Tags: cold winter brewing
thestatedtruth.com | December 4, 2010
We fully expect that the ‘can will get kicked down the road’ on this matter…… WASHINGTON…..An increase to the federal government’s borrowing limit is being considered in talks on extending the Bush-era tax cuts. But that issue would be politically very toxic. The current federal government debt limit stands at $14.3 trillion, a mark that may be reached […]
Category: Commentary, Economy, Finance, National News, Wall Street |
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Tags: government debt ceiling, Government debt limits
thestatedtruth.com | December 4, 2010
As expected the Senate votes No on tax deal…..around and around we go, where we stop nobody knows! Democrats are demanding a one-year renewal of jobless benefits for hundreds of thousands of Americans or no deal on tax cuts. The benefits begin to expire this week.  But….Obama’s top economic advisers are in talks with key lawmakers […]
Category: Commentary, Economy, Finance, National News, Wall Street, World News |
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Tags: Senate votes on taxes
thestatedtruth.com | December 3, 2010
The Supplemental Nutrition Assistance Program (SNAP) data is out and the number of poor Americans has set a new high – SNAP recipients just hit 42.9 million participants.
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thestatedtruth.com | December 3, 2010
The Government has recently appointed a new Golf Czar and major rule changes in the game of golf will become effective as of December 10, 2010.  This is a preview, as the complete rule book (expect 2,000 pages) is being rewritten as we speak.  Here are a few of the changes.: Golfers with handicaps: ~ below 10 […]
Category: Commentary, Jokes, National News, Tid Bits |
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Tags: golf rules, new golf rules
thestatedtruth.com | December 3, 2010
Thinking the Unthinkable By Bill Bonner  This week, like the last one, was dominated by euro babel. Speaking in their various tongues, all at once, Europeans were talking nonsense. Especially Jose-Ignacio Torreblanca. The senior fellow at the European Council of Foreign Relations begins: “in an ideal world,” he says it is “fair and rational” for […]
Category: Commentary, Interest Rates, Bonds, National News, Pensions and Retirement, Wall Street, World News |
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Tags: Euro debt, europe entitlements
thestatedtruth.com | December 3, 2010
So inquiring minds want to know…. what happens when the ‘Spanish Flu’ strain hits the United States! Update from the AP:   Spain orders its air traffic controllers to resume work or military will take over control of airspace. That’s some serious flu going around. If you are reading this from an airplane, we can only hope […]
Category: Commentary, National News, Wall Street, World News |
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Tags: Spains air traffic controllers call in sick, Spains austerity moves
thestatedtruth.com | December 3, 2010
Some interesting thoughts out of China…………. From Corriente Advisors. The anomalies in China are some what familiar: Excess floor space exceeds 3.3 billion square meters and there are still 200 m being built this year…. The price to rent ratio is 39.4 times versus 22.8 times in America before the housing crises…. Banks are hiding their exposure […]
Category: Commentary, Economy, National News, Wall Street, World News |
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Tags: China anomalies, china economy growth
thestatedtruth.com | December 3, 2010
The Guardian, which earlier was conducting a live chat with Julian Assange from an undisclosed location, has generated such massive internet traffic that the entire Guardian website (which is the 16th top ranked site in Britain on a regular day getting tens of millions of hits) was knocked out. Looks to be back up now.  Full transcript from […]
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Tags: wikileaks interview with the Guardian
thestatedtruth.com | December 3, 2010
WikiLeaks…. EveryDNS says it dropped the website after it became the “target of multiple distributed denial of service attacks.”   WikiLeaks.org was forced to move its domain name to Switzerland after its U.S. service was withdrawn, may now be banned from French servers. It is “not acceptable†for servers in France to host the site, French Industry […]
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Tags: Bush Adviser Slams WikiLeaks
thestatedtruth.com | December 2, 2010
Let’s dig a little deeper on this subject…..Here’s what Bloomberg had to say about this morning’s reported jump in pending home sales (signed sales agreements). Pending sales of U.S. existing houses unexpectedly jumped by a record 10 percent in October, indicating the industry at the center of the last recession is stabilizing as the job […]
Category: Commentary, Economy, Finance, National News, Real Estate, Wall Street, World News |
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Tags: Real Estate, real estate pending sales
thestatedtruth.com | December 2, 2010
A holder of a bond may “buy protection†to hedge its risk of default. In its simplest form, a credit default swap is a bilateral contract between the buyer and seller of protection. The CDS will refer to a “reference entity” or “reference obligor”, usually a corporation or government. The reference entity is not a […]
Category: Commentary, Economy, Finance, Interest Rates, Bonds, National News, Wall Street |
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Tags: state finances
thestatedtruth.com | December 2, 2010
We’ll have to see how this plays out in the U.S. Senate over the next few days and weeks. But as everybody knows, time is running out for 2010. WASHINGTON…..The U.S. House of Representatives approved legislation to make permanent tax cuts only for households earning less than $250,000 in a symbolic vote aimed at the Democratics as the […]
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Tags: tax changes
thestatedtruth.com | December 2, 2010
This was a no brainer……from the ECB (European Central Bank) The ECB has abandoned its plans to wind down emergency support for banks and government debt markets.  The ECB will continue to offer unlimited liquidity to banks for as long as necessary, ECB President Jean-Claude Trichet said at a news conference in Frankfurt Thursday. It had […]
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Tags: ECB, european central bank
thestatedtruth.com | December 2, 2010
Attacks on Nuclear Scientists in Tehran December 1, 2010 By Ben West On the morning of Nov. 29, two Iranian scientists involved in Iran’s nuclear development program were attacked. One was killed, and the other was injured. According to Iranian media, the deceased, Dr. Majid Shahriari, was heading the team responsible for developing the technology […]
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Tags: Stratfor Attacks on Nuclear Scientists in Tehran
thestatedtruth.com | December 2, 2010
That’s why they call these types of high yield high risk bonds ,” Junk Bonds”……  High-yield, or junk, debt is rated below BBB- by S&P and an equivalent Baa3 by Moody’s Investors Service. So the governments of the world take interest rates down to current ultra low levels and leave them there for a prolonged period, forcing […]
Category: Commentary, Economy, Finance, Interest Rates, Bonds, National News, Wall Street |
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Tags: high risk bond defaults, junk bond defaults
thestatedtruth.com | December 2, 2010
The other shoe is dropping in real estate. The banks have a lot of inventory to sell, so this will take a while! Sales of existing homes, which make up more than 90 percent of the market, declined more than forecast in October amid the foreclosure moratoriums and the absence of the tax credit of as […]
Category: Commentary, Economy, Finance, National News, Real Estate, Wall Street, World News |
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Tags: Real Estate, real estate bank owned, real estate fraud;real estate foreclosures
thestatedtruth.com | December 1, 2010
No wonder the fed didn’t want this material released………Geez, they really did save the World financial system between October 27, 2008 and August 6, 2009! One may be forgiven to believe that via its FX liquidity swap lines the Fed only bailed out foreign Central Banks, which in turn took the money and funded their own […]
Category: Economy, National News, Wall Street, World News |
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Tags: Fed bailout of 35 foreign banks
thestatedtruth.com | December 1, 2010
This excerpt from Art Cashin on the floor of The New York Stock Exchange Cyber Warfare – Maybe because of the apparent success of the Stuxnet virus on the Iranian nuclear efforts, there has been a lot of floor chatter about the new age of cyber warfare. The chatter got a lot more active with the […]
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Tags: cyber warfare
thestatedtruth.com | December 1, 2010
In response to Wikileaks website closure……An interesting analysis out of TorrentFreaks contemplates a BitTorrent based DNS which would make shutting down sites virtually impossible. In a direct response to the domain seizures by U.S. authorities during the last few days, a group of established enthusiasts have started working on a DNS system that can’t be […]
Category: Commentary, National News, Wall Street |
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Tags: BitTorrent, internet
thestatedtruth.com | December 1, 2010
We’re not a believer in journalism at the expense of government or state secrets…..especially when it puts innocent lives at risk. Wikileaks should rethink their model.  Wikileaks says it has switched its DNS to Sweden, from where it continues operating. Wikileaks tweeted the following response about Amazon’s action shutting down its website: “WikiLeaks servers at Amazon ousted. Free speech the […]
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Tags: Wikileak's reopens website in Sweden
thestatedtruth.com | December 1, 2010
Under orders from Congress pursuant to the Dodd-Frank financial legislation, the Fed has finally released details of its emergency lending starting in 2007. Huffington Post is providing an excellent live-blogging round up as new discoveries are made from the Fed’s data release. Here are some of the more interesting insights: Mutual funds, hedge funds and […]
Category: Commentary, Economy, Interest Rates, Bonds, National News, Pensions and Retirement, Wall Street, World News |
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Tags: Fed Emergency Lending Program 2007, TAF
thestatedtruth.com | December 1, 2010
Yes, you are wondering how this is possible while the market is going up? The logical answer is the powers to be (government) have total control of things for now….but if something should happen to change that (and it will), run baby run! ICI reports for the week ending November 24, we had $2.6 billion in outflows from […]
Category: Commentary, Economy, Finance, National News, Pensions and Retirement, Wall Street, World News |
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Tags: ICI equity fund outflows, mutual fund outflows
thestatedtruth.com | December 1, 2010
This shouldn’t be surprising…….what did he (Julian Assange) think would happen? From Reuters: “Amazon.com ceases hosting services for WikiLeaks website – Senator Lieberman” and “DHS says Amazon has agreed to stop hosting WikiLeaks.” Game Over…..Julian Assange looks like a hot potato.
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