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alstry (36.57)

11.10.9...Now you FEEL why 50% unemployment.....no end in sight.

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October 13, 2009 – Comments (11)

RALEIGH, N.C. -

The Department of Health and Human Services as well as the state's service providers will likely lose thousands of jobs in the coming months.

That was the message Tuesday from DHHS secretary, Lanier Cansler, who said the department is having to make cuts of $1.7 billion, which was required by the legislature.

http://wake.mync.com/site/Wake/news/story/43126/dhhs-expects-thousands-of-job-loses-cut-services/

ThousandS of Jobs Lost....in just North Carolina and just Department of HHS.....

The problem is simple.....zombulation policies means massive unemployment.....high unemployment means millions not paying medicare or social security taxes....millionS not paying medicare means massive cuts to medicare.......

medicare/medicaid is responsible for a massive amount of health care spend.....approaching 50%.

Health Care employs about 20 million workers......and now millions are likely going to lose their jobs are revenues evaporate....which means medicare revenues will contract further feeding Alstrynomics concentric contraction.

None of this is hard to see....just hard to believe that govenrment would pursue a Zombulation policy.

Do you think those thousands of workers own a house?  How about a car?  If few are hiring, that means a bigger burden on the state for unemployment payments further exacerbating the deficit.

NOT JUST N.C. EITHER!!!!

OKLAHOMA CITY – State officials have again ordered a 5 percent across the board budget cut after state revenue declined in September.

September marked the ninth consecutive month of revenue declines and triggered the third month of 5 percent budget cuts.

“Monthly collections in September continue to be well below the official tax commission estimates and last year’s actual collections,” State Treasurer Scott Meacham said.

State Finance Director Michael Clingman ordered a continuation of the 5 percent cutback in allocations to each state agency that was instituted in August.

“Unlike our action of the past two months, we were able to make this allocation without transferring cash reserves," Clingman said

The 5 percent reduction in October’s allocation of annual appropriations represents a total cut of $21 million for the month.

All state agencies are hurting, but it's the small ones that are taking the biggest hit.

"There's really no help or end in sight," Pardon and Parole Board Executive Director Terry Jenks said.

BETTER GIVE THE BANKERS BIG BONUSES BEFORE THE MONEY RUNS OUT...JUST WAIT UNTIL YOU SEE GS' BONUSES FRIDAY....

11 Comments – Post Your Own

#1) On October 13, 2009 at 10:24 PM, wvillegas007 (< 20) wrote:

Romanian government collapses after less than a year:

http://www.ft.com/cms/s/0/347311be-b859-11de-8ca9-00144feab49a.html

 WHO'S NEXT??

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#2) On October 13, 2009 at 10:30 PM, alstry (36.57) wrote:

Bulgaria already went down....Latvia will have a big impact on Sweden's banks.....

But that said....we have enough problems here....between heatlh care and government....the two employ almost 50 million Americans with a total spend of OVER 50% of GDP....and now both are getting hit hard with cities, counties and states facing MASSIVE CUTS.

SANFORD -- A smaller budget means a lot of changes for the city’s residents.

From the monthly newspaper to road projects and park upkeep, Sanford is cutting back. The city has just cut the budget by 20 percent or $26 million.

"Do I like it? No. but I understand it's frustrating all around. Our citizens are suffering," said Interim City Manager Tom George.

http://www.cfnews13.com/Business/LocalBusinessHeadlines/2009/10/12/sanford_budget_cut_by_26m.html?cid=rss

A 20% cut in government spend would result in a $1.3 Trillion dollar hit to GDP...or about 10% placing our economy clearly in a DEPRESSION.

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#3) On October 13, 2009 at 10:40 PM, alstry (36.57) wrote:

American Government is the LARGEST CONSUMER in the World....if government is not consuming.......than the economy is shrinking.  The numbers really get big when you consider it is practically every city, county and state.

AURORA, Colo. (CBS4) ― Some city workers in Aurora got bad news at work Tuesday morning after the City Council voted to cut millions of dollars from the 2010 budget.

Aurora's general operating budget for 2010 is about $14 million less than this year. That means budget cuts in almost every city department.

Fifty people will lose their jobs and 85 open job positions will not be filled.

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#4) On October 14, 2009 at 12:00 AM, lquadland10 (< 20) wrote:

Oh well they will just release the swine flu through what chem trails after all the Health Care workers are let go. Then to stem the terrible tragedy they will impose martial law. Piff...........so simple on their part. Durn Rockefeller and Rothschild. They seem to be winning again.

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#5) On October 14, 2009 at 12:01 AM, lquadland10 (< 20) wrote:

Oh well they will just release the swine flu through what chem trails after all the Health Care workers are let go. Then to stem the terrible tragedy they will impose martial law. Piff...........so simple on their part. Durn Rockefeller and Rothschild. They seem to be winning again.

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#6) On October 14, 2009 at 12:12 AM, lquadland10 (< 20) wrote:

Sorry about double post. Computer problems. No worries. They will all just join the Military and fight the wars. Problem solved.

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#7) On October 14, 2009 at 2:06 AM, awallejr (75.87) wrote:

Alstry I thought you said you were going to stop? Please do what you said you would.  You have cost people a ton of money if they listened to you.  So you screwed up on DOW 5,000-2,000 by end of summer.  Your whole 9.09 moap was a complete dud.  Now you are talking November as a scare month with 50% unemployment.  Did you even listen to Intel's guidance?  Do you even know what you are talking about when it comes to investing?  Or are you just a "world is coming to an end" bullshitter?

As Deej once said, "Alsty go away."  You have done more harm than what you try to blog about, scaring people into 1-2% cash after a slew of stocks grew as literally 1 to even 30 baggers over the last 7 months.  Newsflash, this isn't merely a bear market rally, those are sharp and short (like what happened end of 2008). Seriously, stop hurting people.

Honor your word, if you even know what that word means.

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#8) On October 14, 2009 at 3:02 AM, wvillegas007 (< 20) wrote:

Awallejr: If you don't like Alstry’s blogs perhaps you can start your own blog about the magnificent state of the economy. Enough disinformation is being pushed by the mainstream media already and we need more patriots like Alstry shedding light to the truth. I am sure you will build a huge following as people prefer to get lied to rather than confronting the painful truth. This blog is about facts no matter how painful they are.

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#9) On October 14, 2009 at 7:59 AM, awallejr (75.87) wrote:

Yeah right, "facts" on how unemployment will hit 50%.  Being lied by whom?  Keep drinking his koolaid.  You missed one of the greatest market runs you have even seen during your lifetime.

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#10) On October 14, 2009 at 8:02 AM, awallejr (75.87) wrote:

And as a P.S. I notice you don't even have stock picks there wvillegas.  At least if you had followed all my blog suggestions you would have made a nice profit overall.

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#11) On October 14, 2009 at 8:43 AM, catoismymotor (< 20) wrote:

Saddest of all Brigadoon will not be able to appear this century due to budget constraints.

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