With so many of our citizens unemployed, fewer and fewer are able to pay taxes. With real estate crashing and businesses shutting down, corporate tax receipts are collapsing. Even sales taxes are imploding. [more]
As we proceed towards 50% unemployment...think about how efficient our corporations will be with a lower cost structure. Not only that, thing of all the conservation of fuel that won't be consumed by needless people driving to and from work. And the savings by not having to support all those employees with computers, desks and so forth. We will save lots of landfill space. [more]
Sanofi-Aventis sales reps are sitting by the telephone this morning, waiting to find out whether they still have jobs. BNet Pharma quotes sources saying that laid-off reps will get the news today, apparently as part of a "realignment of sales and marketing resources" CEO Chris Viehbacher mentioned in his Q3 earnings presentation. [more]
Coal Glut Rocks Mining Companies [more]
Alstrynomics is simply forecasting the end of the industrial economy......as such, most of our current occupations will not be necessary in the new Alstrynomic age. [more]
SIMPLY SPEAKING ECONOMICALLY......because what is good for America is not necessarily good for Americans. If you were on an Amphibeous landing craft storming Normandy....what you were doing was good for America but not necessarily good for you. [more]
Once its oil reserves were running out, Dubai was basically a ocean front sand due trying to be a port. However, if you invest hundreds of billions of dollars and loan billions as well....you can even turn a sand dune into the world's most luxurious playground for the uber rich. [more]
IF REALITY DISTURBS YOU.....go make pancakes on an eclectic griddle or play with your plasmas. [more]
Welcome to Zombuation Nation....where you begin to FEEL after 11.10.9 when you are being told the Recession is OVER!!!!! [more]
Almost all the camping grounds within 100 miles of Los Angeles are now filled with people living in them. [more]
In war we take the children of the poor.....maybe we should take the money of the rich???? [more]
You Knew...You Felt...We Now Shut Down Government and few will have much to do!!!!! [more]
9.09 You Knew America was bankrupt and the only ones getting bailed out was The Wall Street Banks [more]
When practically every economy in the World is about to financially collapse.
Welcome to 1.01.10 where we knew in 9.09 and we felt by 11.10.9........
1s, 0s, and 9s......is there any significance??????
Seriously Fools...what is your suggestion for investing in a world that is about to finanically collapse?
Alstrynomics has a simple basic premise.....much of the world is insolvent from an accounting perspective. Much of the world's insolvency has been masked by fraud and improper accounting actions. And a material part of recent corporate earnings has been improperly influenced as well. [more]
HAPPY THANKSGIVING!!!!!! [more]
Today the dollar tanked and gold shot up...... [more]
Now War'O'Nomics is going mainstream: [more]
MASSIVE troop build ups by many nations around the world [more]
Alstrynomics Three Stages To A Nation's Collapse [more]
NEW YORK -- Saying the state faces an unprecedented fiscal crisis, New York Gov. David Paterson on Tuesday sought emergency legislation that would give him authority to implement a one-time, across-the-board reduction in state payments to close a $3.2 billion budget gap for the current year. [more]
You can KNOW your finanicial system is a Fraud on 9.09 with the government handing the bankers trillions of dollars of free money to speculate on finanicial instruments and not give much to the real economy....the best evidence of that is GS unbelievable trading accuracy and success quarter after quarter. [more]
(MarketWatch) -- A sharp rise in Chinese car sales and vehicle ownership hasn't been reflected in nationwide gasoline consumption this year, an anomaly that has some analysts scratching their heads in the search for answers.
The disconnect has sparked a range of possible explanations, and even some suspicious musings: One such theory goes that Beijing and its state-owned enterprises are using stimulus funds to buy up new vehicles to subsidize local car makers, with the vehicles then hidden away or turned back into scrap metal. [more]
No...Not 911 You Conspiracy Theory Fools [more]
I warned you fools, under Zombulation half of America will lose its jobs. When you give bankers money for free and allow them to speculate with no downside as any losses will be bailed out, most of the money that would otherwise be used to drive the economy is diverted into speculation. [more]
Where Global Warming is a Global Fraud. [more]
Tax collections tumbled 11% across 44 states in the third quarter, according to a report that suggests government revenue will remain depressed long after the economy has recovered from recession. [more]
The Debt That Drove America Is Now Shutting America Down [more]
"We are in dire circumstances," Paterson told reporters. [more]
Lebanese anti-aircraft guns opened fire on Saturday on an Israeli drone that entered Lebanese airspace in the south of the country, the military said in a statement.
"A surveillance drone of the Israeli enemy" overflew "the area of Bint Jbeil at medium altitude" in the morning, the statement said. [more]
Are most economists simply a mouthpiece for the Fed? [more]
The Federal Reserve, through its extensive network of consultants, visiting scholars, alumni and staff economists, so thoroughly dominates the field of economics that real criticism of the central bank has become a career liability for members of the profession, an investigation by the Huffington Post has found. [more]
We are draining the economy of money by bailing out the banks and keeping the debt burden on society......fewer and fewer have prospects of employment. [more]
Colombia has accused neighbouring Venezuela of blowing up two pedestrian bridges on its shared border. [more]
We are building homes at 1940s rates....when our population was a fraction of the size. [more]
Over 500,000 people per week are STILL filing unemployment claims for the first time. [more]
There is NO money for health care.........health care is about 20% of GDP and government provides the marjority of dollars to health care. [more]
Elk Grove Unified board members voted last night to cut all district sports programs, increase class sizes in kindergarten through third grade and cut 592 positions that include all library staff and counselors and some vice principals and clerical position. [more]
Nov. 18 (Bloomberg) -- Iran’s top general denounced Saudi Arabia’s air strikes against rebels in Yemen as the start of “state terrorism” that may have consequences throughout the Middle East. [more]
The lawsuit, filed by the Sacramento Municipal Utility District, is based on federal and state antitrust claims. It alleges Charlotte, North Carolina-based Bank of America and more than a dozen other banks conspired to pre-select winners of municipal derivative auctions, coordinated their pricing, and accepted kickbacks disguised as fees from co-conspirators. [more]
Englewood Hospital and Medical Center is laying off 24 employees, reducing hours for five other staffers and leaving 22 open positions unfilled in a restructuring to stabilize finances, hospital officials confirmed Monday. [more]
Cities shutting down despite LARGE tax increases.....that is what happens when you bail out banks and screw citizens in an overleveraged credit dependent ponzi economy. Sorta like bailing out Bernie and hosing his clients. You knew this was coming in 9.09....now you feel. [more]
Tens of Millions of Americans Going Hungry [more]
HARRISBURG -- The head of Pennsylvania's largest state employees' union said it was bracing for layoffs in advance of a Monday announcement by the Rendell administration. [more]
PhD economist Marc Faber predicts that the U.S. will launch a war to distract people from the bad economy. [more]
The Federal Reserve — the quasi-autonomous body that controls the US’s money supply — is a “Ponzi scheme” that created “bubble after bubble” in the US economy and needs to be held accountable for its actions, says Eliot Spitzer, the former governor and attorney-general of New York.
In a wide-ranging discussion of the bank bailouts on MSNBC’s Morning Meeting, host Dylan Ratigan described the process by which the Federal Reserve exchanged $13.9 trillion of bad bank debt for cash that it gave to the struggling banks. [more]
We are suppposed to believe that 40 of our best and brightest about to be deployed were gunned down by a single whacky psychiatrist carrying a .357 and 9mm in each hand like Jesse James and had time to get off over 100 rounds and reload being forced to put one gun down without being stopped by the best trained soldiers in the world? [more]
As the banking system shuts down the private economy by failing to restructure the debt, cutting off credit, and jacking up interest rates...it appears fewer and fewer options remain to prevent out economy from falling into the abyss. [more]
Absent Defense.....pretty much every sector in America's economy is contracting rapidly. [more]
"Now many of the legislatures don’t understand what a downgrading in a credit rating is eventually going to do. They need to go spend a few weeks in California, it might be a good investment for us to send them there because California is in a state which, I don’t know, in spite of the valiant efforts of their governor, I don’t know that California can remain in a place where they don’t inevitably go into default." [more]
The government-chartered company that insures the pensions of one in seven Americans said Friday that its deficit this year nearly doubled to $22 billion.
That's an improvement over the Pension Benefit Guaranty Corp.'s midyear record deficit of $33.5 billion, which spiked as auto makers and other companies faltered and caused the insurance fund's liabilities to spike. [more]
ZOMBULATION SPREADING DESPITE MASSIVE DEFICIT..... [more]
Now that the banks are stabilized......it is now time. What are Obama's choices if his currency is worthless? [more]
As we approach the end of the year.....thousands and thousands of small businesses are realizing they simply can't make it financially anymore. In addition, thousands more are making massive cuts to labor forces. 10-15% of total workforce cuts will be routine.....20-25% will not be uncommon. [more]
Desperate for cash amid the worst fiscal crisis in years, New York State is pursuing tax debtors more aggressively than ever before, doubling the number of cases it is investigating and seeking to collect from delinquents ranging from JPMorgan Chase to an out-of-business convenience store on the Bowery. [more]
The dollar fell to a 15-month low versus major counterparts today [more]
Alstry realized in 2005 that most of our PRIVATE economy centered simply around real estate..sales, construction, finance, residential, commercial, insurance, furnishing, renovating etc.......between 2001 and 2007 much of the other areas of the PRIVATE economy was supported by borrowing against real estate.....especially travel and autos. [more]
California has stumbled badly in its latest foray into the municipal bond market -- a sign that investors are overloaded with the state’s debt.
Borrowing $1.9 billion Tuesday via bonds that mature in June 2013, the state was forced to pay a 4% annualized tax-free yield to lure investors to the deal. [more]
"We stand on the brink of a financial challenge of unprecedented magnitude in the history of this state,” Mr. Paterson told lawmakers as he warned that New York was rapidly running out of cash ...
While the state faces a deficit of more than $3 billion for the remaining four and a half months of this fiscal year, the greater worry among state officials are the unprecedented deficits the state faces in 2011 and 2012, after federal stimulus financing and a temporary tax increase on the wealthy expire.
“We’re going to fall off a cliff unless we get our revenues and our expenditures in true sync,” said Lt. Gov. Richard Ravitch ... [more]
"There are families not eating at the end of the month,” said Stephen Quinn, executive vice president and chief marketing officer at Wal-Mart Stores, and “literally lining up at midnight” at Wal-Mart stores waiting to buy food when paychecks or government checks land in their accounts. [more]
WASHINGTON (MarketWatch) -- Banks operating in the United States continued to restrict the availability of credit to consumers and business customers over the past three months, with only a few banks showing more willingness to lend, the Federal Reserve reported Monday. [more]
The three primary drivers of tax receipts to government are income tax, social security tax, and property tax. [more]
It is interesting when you talk to people at parties. First they tell you all is great, and then ask a few harmless probing questions and you realize anxiety is skyrocketing out of control. Many want to talk about it but are uncomfortable raising the issue. People are concerned as more and more of their coworkers are being let go...they are now afriad to voice an opinion at the job, or anywhere for that matter, for fear they might be next. [more]
THE PUBLIC SECTOR, RESPONSBILE FOR HALF OF GDP, IS NOW SPIRALING DOWN..... [more]
In the western half of Wisconsin, there were about 7,000 filings for all of last year. This year there were almost that many as of last month. [more]
WHAT STARTED IN CALIFORNIA IS SPREADING LIKE A PANDEMIC................ [more]
Health Care, Education, Cities, Counties and States [more]
America's Private Economy is primarily driven by Real Estate and Auto Manufacturing plus the Financing Surrounding those two sectors of the Economy. Collectively we are looking at the majority of the nation's assets factoring outstanding debt and equity collectively exceeding $50 Trillion dollars. [more]
10.2% U3 Unemployment Rate [more]
NetJets Inc. said today it will lay off nearly 500 pilots, as its new management deals with a prolonged economic downturn that has hit the company hard. [more]
Fannie Mae (FNM/NYSE) is implementing the Deed for Lease™ Program under which qualifying homeowners facing foreclosure will be able to remain in their homes by signing a lease in connection with the voluntary transfer of the property deed back to the lender.
The new program is designed for borrowers who do not qualify for or have not been able to sustain other loan-workout solutions, such as a modification. Under Deed for Lease, borrowers transfer their property to the lender by completing a deed in lieu of foreclosure, and then lease back the house at a market rate.
To participate in the program, borrowers must live in the home as their primary residence and must be released from any subordinate liens on the property. Tenants of borrowers in this circumstance may also be eligible for leases under the program. Borrowers or tenants interested in a lease must be able to document that the new market rental rate is no more than 31% of their gross income. [more]
About 40,000,000 Americans receive Food Stamps. [more]
PLUNGING TAX RECEPITS DESPITE RISING TAXES [more]
The concept of a jobless recovery is nonsense in a service economy. Sure it is a lagging indicator in a production economy where you can increase production without hiring more....but in a service economy, it takes people to service. Job/hours creation is a leading indicator in a service economy. America is declining in both jobs and hours worked. [more]
DON'T SAY ALSTRYDOMOUS DIDN'T WARN YOU.....it is not the end of the world, just the end of the world as you know it when money runs out in preparation for the Alstrynomic Age....... [more]
Alstry's Blogging Will Take On A Positive Component: [more]
It appears Buffett knows or believes dollars will not be worth much going forward and appreciates the economics of the rail business in a carbon credit world. Rail is a much "greener" form of transportation than trucking. If we are all going to get taxed on our emissions going forward.....Buffett is well positioned to take advantage of a new business paradigm with BN. [more]
With the Q3 2009 earnings season in the rearview mirror, I can say my prediction was off the mark: The job situation at ad agencies is actually a lot worse than it looked before the U.S. holding companies made their earnings releases. It’s not “dozens” of layoffs — it’s thousands. [more]
The Honolulu Symphony may file for bankruptcy protection as early as tomorrow, according to people familiar with the situation. [more]
CAUTION: Alstry's Blog should only be read by those CAPs players scoring, or wanting to score OVER a 99 rating. [more]
IN A NUMBER OF INDUSTRIES..... [more]
I warned you Fools...you should be prepared for a 50% family income loss or you are not prepared. [more]
Simply the End of the World AS YOU KNOW IT. [more]
Remember the Tsunami in Indonesia....the first wave came in, did a bunch of damage, and washed back out. Many were killed and injured, but most were spared. As the waters pulled back, scores wandered back on the beach to view the spectacle.....only to be washed away when the BIG one came ashore. [more]
Tim Geithner's definition of Recovery: [more]