Not true. As of today. lol. This was almost true yeaterday. Today LTC has jumped in price to over $4/LTC and 0.028/BTC.
My very stable pool i use,
www.give-me-ltc.com is running at 284581 paid shares so far with only 4515 unpaid stales (1.59% stales) and only a 2% fee. So mining costs are about a steady 3.6%.
Playing with their calculator today @ 404 difficulty I am pulling in near $5 a day now off a single MSI 7950! This was under $2 at the low point last week and has averaged for a while at $3 so we have make a break now upwards.
Have converted some LTC in BTC, but hold most in LTC still and have converted none in FIAT yet becuase I have not yet had my credit card bill or any new power bill since I started up 3 weeks ago.
Way more profitable than BTC now again!
M