When the money runs out...will police officers role simply be revenue generating machines to pay salaries and fund pension to keep the Ponzi Scheme going???? [more]
As we move into the Digital Age....here are a few positive, and only postive trends we will likely see: [more]
Calpers investing over $1 Billion into LandSource only to go bankrupt a year later giving Lennar desperately needed cash and Calpers seeing its investment wiped out???? Private equity investing over $600 million into Standard Pacific yet company is worth much less after run up in homebuilders..... [more]
When I was debating with Floridabuilder about SPF....it was my position that SPF had a value of at least NEGATIVE one billion dollars.....needless to say, the great FB, who lives, eats, breathes and admittedly one of the smartest chimps in the homebuilding sector disagreed. [more]
You better start thinking........ [more]
Approximately 50,000,000 Americans work for govenrment or health care............ [more]
Off-Track Betting Corp. officials pulled the reins on consultant and executive compensation Saturday after fielding questions from the Daily News about the payments. [more]
WHO DO YOU THINK BUYS WALL STREETS JUNK???? That is right....much of it is purchased by public pension plans. Why do you think government and Wall Street would rather tax you to death than cut pension payments.......without pensions buying ever increasing amounts of Wall Street debt, the Ponzi Scheme would unravel and everything would be exposed.....just like Madoff. Expect pensions to be off limits.....EVEN IF THE CITY IS BANKRUPT.......until you have been taxed every dime you have!!!!!!! [more]
Cash-strapped states using income audits to get funds
Speculation among local tax experts is that New Jersey’s and other states’ budget woes are driving not only the recent uptick in audits — one firm reports five times the number of audits in 2009 versus earlier years. They also say that the deeper probing by auditors makes the process longer and more costly. [more]
States Seeking Cash Hope to Expand Taxes to Services [more]
Like nearly every other transit agency in the state, AC Transit faces a huge deficit. And like many of those agencies, the East Bay's bus operator is making major service cuts to help balance its budget. AC Transit's service reductions take effect Sunday, with commuters and students feeling the full brunt of the cutbacks on Monday. And most riders will feel the pain. AC Transit is cutting service by about 8 percent, but the cuts will affect 108 of 113 routes. A total of 31 routes will be eliminated, others will run shorter hours or require longer waits, and some will be shortened or otherwise rerouted.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/03/26/BAOS1CM0V2.DTL#ixzz0jPsxMMCgYOU CAN ONLY CUT SO MUCH BEFORE THERE IS NOT MUCH LEFT TO CUT....."We've gone through fare increases, salary freezes, hiring freezes, layoffs and 15 percent reductions in every department budget," he said. "We're left with this - streamlining service."
It really is not very complicated....when you cut off credit to a credit dependent economy and pay savers nothing while letting bankers borrow for free and loan to the government.....eventually the private economy shuts down and tax receipts to government evaporate.....some call it Zombulation.
A newspaper is reporting that federal prosecutors have started a criminal investigation into investment activities at the nation's largest public pension fund.
Citing unnamed sources, The Wall Street Journal said Justice Department officials in Los Angeles are examining potential influence-peddling within the California Public Employees Retirement System.
At issue is whether the investment decisions of CalPERS fund managers were influenced by bribes.
A spokesman for the U.S. attorney's office in Los Angeles declined to comment to The Associated Press on Friday. CalPERS' chief spokesman, Brad Pacheco, told the AP his office is not aware of any criminal investigation. [more]
You have to admit....these are crazy times.....our economy being propped up by Pension recipients, Social Security recipients, food stamp recipients, unemployment recipients, government workers, health care workers who receive the majority of their income from government payments, and government contractorers who get paid by the government or those whose incomes are primarily derived serving above.... [more]
The Federal Government is borrowing about $150,000 per year to pay for each of the 10 million Federal workers generating a HUGE amount of income taxes...state government are borrowing a bunch too......yet.... [more]
It is not the end of the world.....simply most of America getting outsourced and much of the world as we know it shutting down. [more]
A decade ago, the city contribution rate for firefighters was 15.7 percent of payroll — meaning that for every $100,000 the city paid in salary, an additional $15,700 went toward retirement benefits. That rate has climbed to 28.31 percent in the current year and will be 44.61 starting in July. [more]
Are you ready to learn????? For some of you the truth may be a bit unsettling. [more]
Or should every American get a check for $1,000,000 dollars. [more]
Very few existing businesses will exist in the Digital Age...below links just from today on dailyjobcuts.com [more]
In the Digital Age, the concept as country as we know it will no longer exist. Money will convert to credits and much of what we value in the industrial age will be of little value in the digital age......but to get there will take lots of change....much more change than many of you can imagine...... [more]
Where we won't need schools....can anyone say its time for online? [more]
50,000,000 of some of the highest paid employees work for government, contract to government, or government supported health care. [more]
50,000,000 City, County, State, Federel, Education, and Health Care Workers generally making above average incomes and benefits packages. [more]
Roughly 50,000,000 Americans work for government or health care. Over the past decade, if you factor the heatlh insurance of government workers, medicare, and medicaid, most of heatlh care dollars comes from government. The 50,000,000 Americans that work for government/health are relatively very highly paid workers. [more]
GOVERNMENT AND HEATLH CARE constitute about 2/3 of the consumption in America. People who work in government and health care in America make very high salaries based on world standards.....and insane levels based on tax receipts.... considering tax revenues are evaporating. [more]
Is America being outsourced and shutting down while Fools are distracted by the ticker???? Operation Zombulation working perfectly!!!!!!! [more]
Schools, Hospitals, Municipalities, Counties, and States to Layoff Millions as TAX revenues evaporate [more]
"We face a square-off between the public-sector unions and the taxpayers of the commonwealth." [more]
I took my kids to the dentist, a higher end child practice, and asked the asssistants how is business expecting not much difference as the answer. The response was shocking, it appears that a number of the patients' parents have stopped bringing their kids in due to loss of a job or loss of dental insurance as businesses cut back. [more]
It was clear that when you cut off credit to our credit dependent consumer economy, our economy would implode. It has despite massive borrowing and spending by government. [more]
Soon you will understand when there is no money.....there is no money and fraud can only go on for so long before time runs out.....often much longer than those that are aware think possible. [more]
On March 11th, the following blog was written on CAPS [more]
WARNING: ONLY WATCH IF YOU CAN HANDLE THE TRUTH!!!!!!!!! [more]
Soon you too will understand what it is like to get a hot long injection from the Zombulator.....as AMERICA GETS OUTSOURCED AND MOST OF YOU FOOLS DON'T EVEN KNOW IT....BUT YOU WILL FEEL IT AS WE ENTER THE DIGITAL AGE. [more]
YOU KNEW, YOU FELT....IT NOW HAPPENS [more]
My friends...we simply can't loan each other over $50 trillion dollars and then cut off credit and not expect our nation to collapse. [more]
Over 21,000,000 people work for government....many of them have very high incomes and pay significant taxes. [more]
Geithner Sees 4% Global Economic Growth This Year, Next
Based on current austerity measures being implemented around the world.....the only foreseeable event that could generate that much spending growth would be a very large military conflict.
Are you prepared???? It appears Mr. Geithner is......
When we go to war, government can take our children to protect the nation...... [more]
WHERE THE UNTHINKABLE BECOMES REALITY [more]
Petters was petit compared to what is about to face us........ [more]
America's governments are borrowing $2 trillion dollar per year, last year our public companies borrowed about a trillion and a half. Despite approaching $4 trillion in borrowing by Wall Street companies and government, our economy is still contracting. [more]
Haiti>>>>>>>Chile>>>>>Japan>>>>>Taiwan>>>>>>TurkeY>>>>>>>>What do these nations have in common? [more]
When you zombulate a nation, practically every dollar of its citizens must be spent on servicing interest or supporting government.....we are just about there as much of the nation has or is starting to shut down.... [more]
For sacrificing their pension to prop this market up as credit is cut off to the private economy and millions lose jobs and businesses shut down..... [more]
When you built an economy based on lend and spend, and you lever it up to massive levels.......once you cut off credit to the Private Economy......soon the private economy shuts down. Most of our labor force works in the private sector. Once the private sector dries up, revenues to government evaporates. [more]
Some of you Fools have the misguided belief that the Chinese might be concerned about their treasury holdings. Such a perspective would be the furthest point from current reality. [more]
You simply can't print money so Fools can consume and lend each other money.......now the money is running out and there are fewer and fewer places to borrow. We are closing schools, hospitals, police departments and more. Our cities, counties and states are essentially bankrupt....... [more]
At what point are tax receipts to government so low....that effectively government spending is no longer legitimate? [more]
The state budget presented six weeks ago by Missouri Gov. Jay Nixon may have overestimated revenues by as much as $1 billion, lawmakers warned Tuesday.
The stunning deficit could force lawmakers to go beyond program and service cuts to consider major structural changes to state government. [more]
Nor will there ever be for the current economic structure...... [more]
In 1994, there resided in the cell next to mine a certain “Tommy”. He had been imprisoned for counterfeiting Dutch Guilders to such a high standard that he had fooled the banks themselves. [more]
Foot Locker Inc. said Thursday that it plans to open about 40 stores and close about 150 underperforming stores this year. [more]
Government is running a $2 Trillion dollar deficit AND we are still losing jobs??? [more]
(Bloomberg) -- European Central Bank President Jean-Claude Trichet pressed Greece to halt its flirtation with International Monetary Fund aid and work with European allies to tame its record budget deficit.
As protesters besieged the Greek Finance Ministry to denounce 4.8 billion euros ($6.5 billion) of tax increases and spending cuts, the Athens government said the absence of European support might force it into the hands of the IMF. [more]
This month, the state will face its worst cash shortage yet, New York Gov. David Paterson said on Wednesday. [more]
There are two sides to Alstry's blogging...... [more]
Why is the MSM so slow to pick up on Alstrynomics?????? [more]
Wall Street mathematically infected America with more debt than we citizens can ever pay back.....as there is OVER 5X the debt as there is money......and the only way to sustainably service the debt is issue more credit just like Madoff needed more investors to service his existing investors. [more]
A major round of layoffs got under way this morning at AstraZeneca’s U.S. headquarters in Fairfax and around the world. [more]
From 2000 to 2008, it was private sector borrowing that drove our economy. Once the banks started cutting off credit to the private sector.....revenues collapsed....especially to government. [more]
Watch and learn....... [more]