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alstry (36.27)

25% Less Workers....Medicare Premiums UP 25%

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October 14, 2009 – Comments (5)

Medicare Advantage Premiums Expected to Rise 25% Next Year

http://online.wsj.com/article/SB10001424052748704107204574473642625591258.html?mod=WSJ_hpp_MIDDLTopStories

Guess where this is going as practically every city, county, state, police department, fire deparment, school system, and hospital are now beginning to layoff or cut wages????

None of this is hard to see......

Maybe a better way to look at employment/unemployment is to count the number of workers actually working plus reduction in incomes to determine the actual impact to income on the nation.......

At this point...with credit being cut off to a significant part of the population....revenues are evaporating, only being aggravated by the fact that many are cutting spending on top of credit cuts..

With OVER $25 Trillion of debt and a few trillion of savings, it is mathematically impossible for our society to pay off debt absent a massive extention of credit at a lower interest rate than that which is being imposed on existing debt.

Until then, it is mathematically certain that America will continue to contract at increasing rates until the debt is cleared and most of America has shut down.....welcome to Zombulation Nation.....now we really begin to Feel as money evaporates.

Amherst H Wilder Foundation - 200 Over Next 9 Months

Update: Onondaga County - 135 Layoffs / Unfilled Positions 

Until you understand Zombulation.......you have no clue how bad things are going to get if we maintain the same policies.....if you think it is only like Detroit.....you are not even close as Detroit has America to subsidize it....what happens when America has no one?

5 Comments – Post Your Own

#1) On October 14, 2009 at 8:21 PM, alstry (36.27) wrote:

 FDIC bank fund in the red until 2012

NEW YORK (CNNMoney.com) -- The government insurance fund designed to protect consumer bank deposits will likely stay in the red through 2012, Federal Deposit Insurance Corp. chief Sheila Bair said Wednesday.

Testifying before members of the Senate Banking Committee, the nation's top commercial bank regulator stressed that her agency was taking immediate steps to replenish the dwindling fund. But she said those efforts would not put the rescue fund in the black until a little more than two years from now at the earliest.

Jobs being cut until 2012?.... banks bleeding until 2012?...wait a second....isn't the recession over?????????

What will be left......as we all Feel?

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#2) On October 14, 2009 at 8:35 PM, alstry (36.27) wrote:

Still on the Job, but at Half the Pay

MECHANICSVILLE, Va. — The dark blue captain’s hat, with its golden oak-leaf clusters, sits atop a bookcase in Bryan Lawlor’s home, out of reach of the children. The uniform their father wears still displays the four stripes of a commercial airline captain, but the hat stays home. The rules forbid that extra display of authority, now that Mr. Lawlor has been downgraded to first officer.

He is now in the co-pilot’s seat in the 50-seat commuter jets he flies, not for any failure in skill. He wears his captain’s stripes, he explains, to make that point. But with air travel down, his employer cut costs by downgrading 130 captains, those with the lowest seniority, to first officers, automatically cutting the wage of each by roughly 50 percent — to $34,000 in Mr. Lawlor’s case.

In recent decades, layoffs were the standard procedure for shrinking labor costs. Reducing the wages of those who remained on the job was considered demoralizing and risky: the best workers would jump to another employer. But now pay cuts, sometimes the result of downgrades in rank or shortened workweeks, are occurring more frequently than at any time since the Great Depression.

State workers in Georgia are taking home smaller paychecks. So are the tens of thousands of employees in California’s public university system. The steel company Nucor and the technology giant Hewlett-Packard have embraced the practice. So have several airlines and many small businesses.

The Bureau of Labor Statistics does not track pay cuts, but it suggests they are reflected in the steep decline of another statistic: total weekly pay for production workers, pilots among them, representing 80 percent of the work force. That index has fallen for nine consecutive months, an unprecedented string over the 44 years the bureau has calculated weekly pay, capturing the large number of people out of work, those working fewer hours and those whose wages have been cut. The old record was a two-month decline, during the 1981-1982 recession.

“What this means,” said Thomas J. Nardone, an assistant commissioner at the bureau, “is that the amount of money people are paid has taken a big hit; not just those who have lost their jobs, but those who are still employed.”

http://www.nytimes.com/2009/10/14/business/economy/14income.html?_r=1&hp=&pagewanted=print

IF YOU ARE NOT PREPARED FOR A 50% PAYCUT....YOU ARE NOT PREPARED!!!!!!!

Why do you think Alstry has been focusing on restructuring debt....if you only bail out the bankers and cut the wages of the people, it will not be too long before the bankers own the people....and government too.

If wages, factoring unemployment, shrink 50% in a service economy.....you have a pretty good idea that GDP will shrink 50% or more as well....think about that and trying to service $50 Trillion of debt plus rising taxes and government fees????

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#3) On October 14, 2009 at 9:18 PM, leohaas (30.99) wrote:

Wow, you are good at spinning. Your title seems to suggest that Medicare premiums will go up 25% because there are 25% less workers. But when I click on the link to the WSJ you provide, it says that Medicare ADVANTAGE premiums will be up 25%. The article does not mention anything about there being 25% less workers. I guess you just made that up.

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#4) On October 14, 2009 at 9:20 PM, alstry (36.27) wrote:

No, actually McKinsey came out with that number factoring the reduction in the labor participation rate....

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#5) On October 14, 2009 at 9:44 PM, themanwon (< 20) wrote:

leohaas havent you learn by now what alstry is all about.  Why waste your breath reading his blogs.  The best we can do is sympathize with him.

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