Mish does an excellent job showing how reported rising retail sales are a lie.... [more]
Warren Buffett is generating most of Berkshire's profits with Derivitives....as tens of thousands are fired from his operating businesses.....interesting perspective from the one who is touted as a value investor and his partner says IT"S OVER!!!! [more]
So let’s cut the crap - we are in a Depression right now. We are pretending we are not, just like you can pretend you didn’t really lose your job so long as your credit card does not reach its limit. We have been in that depression for about 18 months and there is no evidence that we will exit it, as we have yet to find a way to pull back the deficit spending without an instantaneous collapse in the economy. [more]
Colorado Springs, Colorado (CNN) -- If you come to a neighborhood park in Colorado Springs, plan on bringing your own trash bags. [more]
-- A Medicare meltdown now seems certain, as the U.S. Senate has left early for the weekend, abandoning seniors, military families and baby boomers. The Senate failed to repeal the Medicare physician payment formula that will cause a drastic 21 percent payment cut to physicians who care for Medicare and TRICARE patients. On Monday, the 21 percent cut goes into effect, forcing physicians to consider the difficult decision to limit the number of Medicare and TRICARE patients they see in order to keep their practice doors open. [more]
If you thought early stage Zombulation layoffs were big last year [more]
Do we really have an economy anymore? [more]
NEW YORK (CNNMoney.com) -- With a 21% cut to Medicare reimbursement rates set to take effect Monday, the nation's largest physician organization has informed its members about their options -- which include shutting off practices to new Medicare patients. [more]
New Home Sales at record lows..... [more]
As Benny The B tells you there is a recovery and the only ones bailed out live on Wall Street. [more]
The FIRE economy is finance, insurance, and real estate. For the past ten years it has been the primary driver of profits to our economy and taxes to government. Government has been the primary driver of dollars to health care. Between FIRE, government, and health care....we pretty much contemplate most of our GDP. [more]
Police fired tear gas and clashed with demonstrators in central Athens on Wednesday as violence broke out after a large protest march against government austerity measures intended to fix the country's debt crisis.... [more]
America and the world as you know it shutting down..... [more]
We now have the nation's premier legal/investment expert, Charlie Munger, bascially calling our economy and our investment system essentially a casino.......and some of you make fun of Alstry?????? [more]
Over 20% of the workforce is unemployed/underemployed [more]
Nothing more Alstry can add....but what do lawyers know about insolvencies and Ponzi Schemes anyway?
NEW YORK (MarketWatch) -- Labor unrest spread across Europe on Monday as pilots for Lufthansa walked off the job and British Airways cabin crews voted to go on strike. [more]
Government running around a $2 Trillion dollar deficit (about twice tax receipts) to keep life support going and maintain the illusion we are not in a depression [more]
Let's repeat the story from the NY Times obtained from CRisk: [more]
Even as the American economy shows tentative signs of a rebound, the human toll of the recession continues to mount, with millions of Americans remaining out of work, out of savings and nearing the end of their unemployment benefits.
Economists fear that the nascent recovery will leave more people behind than in past recessions, failing to create jobs in sufficient numbers to absorb the record-setting ranks of the long-term unemployed.
Call them the new poor: people long accustomed to the comforts of middle-class life who are now relying on public assistance for the first time in their lives — potentially for years to come.
Yet the social safety net is already showing severe strains. Roughly 2.7 million jobless people will lose their unemployment check before the end of April unless Congress approves the Obama administration’s proposal to extend the payments, according to the Labor Department. [more]
About 2/3 of all health care dollars comes directly or indirectly from government. [more]
Nevada State College Faces Possible Shutdown
HENDERSON -- Nearly 3,000 college students may lose their course credits if state lawmakers go forward with the idea of closing Nevada State College. [more]
Our Pension Funds are now over One Trillion Dollars underwater....and that is marking assets at high valuations. Our Banks are concealing the value of assets making capitalization look stronger. Are we running out of ability to pretend as revenues to cities, counties and states evaporate as fewer and fewer have access to credit. [more]
Ask yourself, how much home can a person afford if they have no income? [more]
Americans loaned each other about $25 TRILLION dollars over the past ten years so we could consume and service each other to create the illusion of an economy. The JOKE is Wall Street sold us on this debt without many of us even knowing we were lending our retirement away, and stuck it in our pension plans, life insurance companies, community banks, and investment accounts. [more]
For the past ten years, our economy was driven by borrowing trillions of dollars from our retirement accounts and foreigners and consuming massive amounts of everything from health care to welfare to houses to cars to trips to jobs servicing each other. [more]
Jackson Health System, one of Florida's largest employers, is deep in the hole to the tune of $200 million, 20-25% of its budget. Massive layoffs are coming unless something gives.
Please consider Jackson healthcare union: Widespread layoffs expected.
Jackson Health System's union for nurses, doctors and other healthcare professionals is warning members that it expects to be notified of widespread layoffs at a 20-minute meeting starting at 9:40 a.m. Tuesday.
The public hospital system, with 12,000 employees, is one of the largest employers in South Florida. About 4,500 are members of the SEIU. Another 5,000 -- mostly hospital support and office staff -- belong to the American Federation of State, County and Municipal Employees.
Facing a deficit of over $200 million this fiscal year, Jackson Chief Executive Eneida Roldan said she needs to cut 20 to 25 percent of the budget.
Local 1991 President Martha Baker said she was willing to work with Roldan and had offered a partnership to get between $50 million and $70 million in new money out of Washington.
Christopher Bayer, acting chief financial officer, told The Herald last week that he expects Jackson to be down to six or eight days of cash on hand in March and the system will be unable to make payroll in May unless drastic cuts are made. [more]
Explosion outside J.P. Morgan in Athens: reports
It is amazing how banks can borrow for free from governments and loan it back to governments but governments and citizens can't do the same to banks.
Interesting business model.
Feb. 16 (Bloomberg) -- U.S. Secretary of State Hillary Clinton said her warning that Iran is turning into a “military dictatorship” may solidify support for sanctions against the Islamic republic over its nuclear program. [more]
A fast-growing number of Minnesota K-12 students are migrating from the classroom to a home computer, in what some experts say is the vanguard of an online education revolution that's altering how and where many students learn. [more]
You can only fool the Fools for so long before even they realize the world is broke....after all, how long can credit be the primary driver of world economies before the world figures out it is one big game of extend and pretend..... [more]
In 1980, the Dow was about 1000 and total public and private debt in America equaled about $5 Trillion dollars. In 2010, total public and private debt increased ten fold to approximately $50 Trillion dollars and the Dow increased by a relatively similar amount to 10,000. [more]
The fundemental question facing America, and the world, is whether the current economic SYSTEM is essentially a fraud and current data is illusory based on a temporary stimulous of borrowed money? [more]
I know, everyone needs a place to live.....but everyone needs money to live. Millions in Africa need food......and go without. [more]
Between 1980 and 2010.....total public and private debt in America increased from about $5 Trillion to about $50 Trillion....coincidently, the stock market increased by about the same percentage from about 1000 to 10,000. [more]
As pressure intensifies for Toyota's chief to testify before Congress about the automaker's safety lapses, Japanese political leaders and experts worry that the problem -- if handled poorly -- could damage ties between the two nations.
Relations between Washington and Tokyo are already strained by a dispute between the two governments over the relocation of a key U.S. Marine base on the southern island of Okinawa. [more]
Dubai debt concerns re-emerge [more]
We have an economy that demands a high labor rate to support our massive commerical real estate infastructure, consumer based economy, and current tax system based on income tax, social security tax, medicare tax, and property tax. [more]
INDIANAPOLIS (AP) -- Health insurer WellPoint blames the Great Recession and rising medical costs for its planned 39 percent rate increase for some California customers. [more]
The Digital Age is very green...... [more]
In the Alstrynomic Digital Age....the need for Real Estate is declining rapidly. What we were talking about ten years ago we are implementing today. Most economists don't even realize that rising unemployment is actually a sign of progress....not distress....but most economists are cyclical thinking and not revoluationary. [more]
Now MORE AND MORE in the mainstream press are using adjectives like Alstry.... [more]
Quincy Medical Center is eliminating 14 jobs and asking its 1,200 employees to take a 3 percent pay cut in an effort to cut expenses by $4.5 million by the end of the year.
The cost-cutting measures are needed because inpatient volume has declined 5 percent compared with the same time a year ago, CEO Dr. Gary Gibbons said. [more]
All architects I spoke to said business was terrible and some in coma mode. [more]
Senior Chinese military officers have proposed that their country boost defense spending, adjust PLA deployments, and possibly sell some U.S. bonds to punish Washington for its latest round of arms sales to Taiwan. [more]
London - Major record label EMI is planning "radical cost cuts, including a further reduction in its 3,500-strong workforce," in a bid to make the company more attractive to investors, the Telegraph reported. [more]
In the Digital Age....how does one create a DURABLE competitive advantage???? [more]
DES MOINES, Iowa - Officials of Iowa's largest city say more job cuts and a hiring freeze for Des Moines' police and fire departments are in the works.....Des Moines officials have cut nearly $16 million to keep the city's budget in balance over the past three fiscal years. [more]
Most people think of Alstry as negative or doom and gloom.....it is the furthest thing from reality. Alstry is simply documenting the shutting down of the Industrial Age and preparing for the rise of the Alstrynomic Digital Age. [more]
The long-threatened CTA service cuts took effect early this morning, despite last-minute efforts to strike a deal with the agency's unions. [more]
Treasury Secretary Timothy Geithner, appearing on ABC News' "This Week," said he thinks the economy is back in growth mode and, "We're seeing some encouraging signs of healing" following better-than-expected unemployment data released Friday. [more]
As many of you are now beginning to realize, Wall Street lent Americans more money than existed in America. Essentially engaging in Ponzi like activities. With only a few trillion in savings and over $50 trillion of total debt.....it is impossible to pay off the debt with savings.....but here is where the amazing irony comes in..... [more]
The U.S. plans to rein in the deficit once the labor market recovers, Geithner said. In the short run, that means focusing on ways to “make sure that this economy is growing again,” he said. The administration says the deficit will shrink over the next four years as more Americans find jobs and the economy accelerates. [more]
After months of shrugging off debt problems in Dubai, Greece and other smaller economies, markets yesterday seemed suddenly aware of the risks of sovereign default. [more]
Feb. 5 (Bloomberg) -- Federal Reserve Bank of St. Louis President James Bullard said the U.S. economic recovery “remains on track” and that he expects job growth in coming months. [more]
Based on the fact that the Fed no longer counts the general American public as part of the labor force, from now on Alstry is going to modify the Alstrynomic labor force to only include the Fed Governor, Treasury Secretary, and CEOs of Goldman Sachs and JP Morgan. [more]
Many of you Fools are going to have a hard time leaving the industrial age........but you really won't have a choice. [more]
WARNING: Don't drive forward while looking in the rear view mirror. Just because what worked yesterday does not mean it will work tommorrow or next week or next year. What we are facing is the most incredible revolutionary change in human history....the progression from the Industrial Age to the Alstrynomic Digital Age. [more]
As we prepare to enter the Alstrynomic Digital Age....we are going to see opportunities arise at speeds never seen in human history before.....wealth will be created and detroyed at unprecedented rates. [more]
Alstry's blogging is going to take on a more positive perspective focusing in part on what will be ahead of us. [more]
Under current Zombulation policies..... [more]
It is not just Alstry anymore..... [more]
But the present will be very convulsive for many as we close out the Industrial Age.......a large number current jobs and businesses will be obsolete in just a few years........ [more]
Are cops coming to Wall Street????? [more]
As America shuts down and its people driven into unemployment and ever lower wages with millions now in poverty......we see more and more commentary like the following: [more]
COLORADO SPRINGS — This tax-averse city is about to learn what it looks and feels like when budget cuts slash services most Americans consider part of the urban fabric. [more]
Another 2,900 Delphi Corp. salaried retirees soon will receive letters disclosing the amount of cuts in their pensions that will go into effect on March 1. [more]
It is not the end of the world....simply the end of a world as you know it....... [more]
Our tax receipts are evaporating [more]
Now the MASSIVE wage cuts and job losses begin?????? We knew it was coming....right? [more]