2009....An Incredible year
Over 5000 Auto Dealerships slated to shut Down
Tens of Thousands of Retailers shut Down
Millions of Home Foreclosures
Starting 1.01.10....Construction in America less than 20% of what it was just a few years ago
2/3 of Architects unemployed
Transportion running Down over 20%
Imports/Exports down over 20% worldwide
AND ALL OF THE ABOVE WHILE GOVERNMENT RUNNING A $2 TRILLION DOLLAR DEFICIT AND NOW WE HAVE TO START WORRYING ABOUT INFLATION!!!!!!!!
The insane part is that in light of the above, government and banks have unlimited access to free money while families and small business are suffering massive interest rate increases and getting cut off from credit....the classic implementation of a Zombulation policy driving the private economy into the ground.
As a result, tax receipts are so low that even if we tripled income taxes......it would not be near enough to bridge the deficit.......as we head into 1.01.10, our economy is structurally broken confirmed by Paul Volcker on Friday in a speech in Berlin.
Only those with access to free cash will be able to endure for any sustained period of time......the rest will fail as revenues and assets will not be sufficient to cover expenses.....especially when government is forced to increase taxes.
We knew this in 9.09 when the FDIC, FHA, FNM, and Pension Guaranty were out of money.
We started to feel it by 11.10.9 when cities, counties, and state started firing tens of thousands of workers.....
And on 1.01.10......we reach concentric contraction where survival or failure becomes dependent on one's ability to access funds from government or bankers.....
It is not hard to see, simply hard to believe it is actually here.........................................