OVER 20 MILLION Americans collected unemployment benefits.....that doesn't include the millions of independent contractors not elligible for unemployment benefits who also suffered massive income losses....about 400K per week. [more]
Dec. 31 (Bloomberg) -- The Mayo Clinic, praised by President Barack Obama as a national model for efficient health care, will stop accepting Medicare patients as of tomorrow at one of its primary-care clinics in Arizona, saying the U.S. government pays too little. [more]
... For the first time in history, [New York]’s main bank account is poised to end the year in the red.
... New York had a negative balance of $174 million in its general fund on Wednesday, with nearly $1 billion in bills owed by day’s end. ... To fill the gap, New York will be forced to rely on ... raiding its short-term investment pool ... But that account itself is dangerously low, with only about $800 million on hand, compared with a balance in more flush years of as much as $16 billion.
And the lower the short-term balance falls, the harder it is for the state to cover its day-to-day bills and the closer New York moves toward a previously unimaginable eventuality: A government check that bounces. [more]
How long do you think Americans will remain silent while millions of Americans continue to lose jobs, homes, businesses, and livlihoods each month due to an inablitity for them or their customers to obtain credit while Wall Street Bankers, Politicians, and Federal Governement Workers are receiving very generous salaries and bonuses simply because they have practically unlimited availability to free credit????????? [more]
HILLSBOROUGH, N.J. — As chief financial officer of a top New York advertising agency, Jeff Boose boasted annual pay exceeding $400,000, a spacious office and a lifestyle to match.
Boose and his family live in a sprawling house in this affluent suburb, belonged to a country club and took numerous lavish vacations each year. [more]
The Benny The B unleashed the Zombultor upon the nation shutting down most of our ecnoomy. [more]
BEIRUT - Lebanon's army said on Tuesday it fired anti-aircraft rounds at four Israeli warplanes which flew at low altitude over south Lebanon. [more]
Isn't the recession over????? [more]
Benny The B has cut off of the interest income to savers and elderly around America for about 9 months. [more]
In 2007, developers excavated a deep hole in downtown Seattle at Second Avenue and Pine Street for the foundation of a 23-story luxury hotel and condo tower.
They filled the hole in 2009.
That pretty much captures the kind of year it's been for commercial real estate in the Seattle area. [more]
Midyear budget cuts are in store for all three branches of West Virginia state government to avoid a potential budget deficit now estimated at $120 million. The Legislature and Supreme Court have also agreed to as-yet-unspecified cuts, the governor said. Legislative officials could not immediately be reached for comment Monday. A Supreme Court spokeswoman said officials there have been asked to identify potential cuts.... [more]
I predicted that based on a zombulation policy, many contracts around the nation would not be able to be fulfilled......in addition, there would be a lot of negative social fallout from the effects of zombulation jamming up the court system..........it appears the distress is now palpable in the court system. [more]
Over a year ago, Alstry warned that governments would sustain massive revenue declines leading to large cuts to cities, counties and states. Few in government prepared leading to reactionary decision making to ever deepening crisis...... [more]
Korea Inks $20.4 Billion Nuclear Deal With U.A.E. [more]
Government is running a $2 Trillion dollar deficit.....Wall Street banks' financial condition was even worse but for a taxpayer gift of trillions of dollars. $2 Trillion dollars is such a large amount of money no nation in the world has the capacity to finance it. [more]
Right now we have tens of millions of Americans out of work, getting kicked out of their homes, and potentially going hungry because they or a family member lost their job or income due to their employer or business running out of cash flow and unable to pay them. [more]
Our Congress and Central Bank has handed us a $2 Trillion dollar annual deficit...and growing. [more]
Zombulation is simply the point where one runs out of savings, access to credit, and income is no longer sufficient to meet monthly obligations. [more]
Before Going Positive..... [more]
When Benny the B and Timmy the G unleashed the Zombulator upon America and only bail out their banker buddies......cash flow across America evaporated. Cash Flow to our families, to our businesses, to our cities, counties, and states......hospitals, schools, and universities. [more]
Over the weekend Arizona state lawmakers approved a budget for fiscal year 2010. Governor Jan Brewer said that these are, "the worst financial days ever." Arizona still faces a $1.5 billion dollar deficit this year, and a projected $3.4 billion dollar shortfall next fiscal year. The bill contained $193 million in funding cuts to reduce state services and state salaries. "We face a state fiscal crisis of unparalleled dimension, one that is going to sweep over every single person in this room, as well as every business, every family, every Arizonan," Brewer said. [more]
Our colleague Rob Arnott, who always does terrific research, wrote in his recent report that "at all levels, federal, state, local and GSEs, the total public debt is now at 141% of GDP. That puts the United States in some elite company--only Japan, Lebanon and Zimbabwe are higher. That's only the start. Add household debt (highest in the world at 99% of GDP) and corporate debt (highest in the world at 317% of GDP, not even counting off-balance-sheet swaps and derivatives) and our total debt is 557% [more]
Our politicians shoveling trillions of dollars to their banker buddies.....the bankers handing back millions to politicians as a millions of Americans are losing their jobs and getting kicked out of their homes. [more]
America is simply not generating enough tax revenues to sustain THE WORLD AS WE KNOW IT. [more]
When you have OVER $50 Trillion in Debt.....and massive and growing entitlement obligations...... [more]
The City of Reno will need to cut $16 million from next year's budget which starts on July 1st. [more]
A nation running a $2 trillion dollar deficit against evaporating tax receipts [more]
Right now, America is confronting a number of issues which could very easily escalate into military , conflicts with serious economic implications. For example, troops are facing each other off in Colombia and Venezeula, Iran is always volitile, Saudi Arabia is bombing Yemen daily ....just to name a few all with significant oil reserves. [more]
WASHINGTON (MarketWatch) - The Federal Deposit Insurance Corp. on Tuesday agreed to nearly double the amount of capital in its 2010 budget used to deal with bank failures and plans to add more than 1,600 staffers. The agency released a $4 billion operating budget, of which $2.5 billion has been set aside to fund the takeover of failed banks. The 2009 operating budget was $2.6 billion. "It will ensure that we are prepared to handle an even larger number of bank failures next year, if that becomes necessary, and to provide regulatory oversight for an even larger number of troubled institutions," FDIC Chairman Sheila Bair said in a statement. The additional staff members will be needed to help the agency unwind failed banks. Many of the new staffers are expected to be added permanently at a later date. [more]
I know everybody knows this and we should all buy municipal bonds despite the fact that tax receipts are evaporating...but for those select few that might still want a different perspective from the pancake perspective: [more]
At this rate, it will not be long before 1/2 the country is unemployed with lots of time to eat pancakes..... [more]
Gov. David A. Paterson announced on Sunday that he would unilaterally withhold $750 million in scheduled payments to schools and local governments, saying that strong action was necessary to prevent New York State from becoming insolvent. [more]
Banks get trillions of free taxpayer money...but not lending to citizens or small business [more]
A WHILE BACK.....THE FOLLOWING FORECAST WAS MADE IN WRITING..... [more]
Dec. 11 (Bloomberg) -- Former Federal Reserve Chairman Paul Volcker said imbalances in the structure of the U.S. economy pose a bigger challenge than the financial crisis and will impede economic growth for some time. [more]
When you focus on pancakes and flatscreens, and fail to heed the danger of the Zombulator and take action.....inevitably Zombulation is the result and 50% unemployment is the best you can hope for....... [more]
Dec. 11 (Bloomberg) -- Shiite rebels fighting the Yemeni national army and Saudi forces on Yemen’s northwest border said today they had taken control of a Saudi military post. [more]
LANCASTER — At least one Lancaster job has been saved due to a city employee getting called up for military duty. [more]
Americans remain pessimistic about the economy and have little trust in Washington's economic leadership—despite $1.5 trillion in federal spending on stimulus and bailouts, a new CNBC "Wealth in America Report" finds. [more]
Insolvent Banks get unlimited free money from government and loan that same money back to the government at much higher rates where government gives trillions of that money to insolvent citizens in the form of welfare, food stamps, unemployment checks, medicare, and medicare so they can spend into the economy. [more]
It looks like Bill's Lake Tahoe Casino in Stateline will close Jan. 4.
The Tahoe Daily Tribune cites an internal memo from Harrah's and Harveys Lake Tahoe saying the decision came after a "consistent downward trend" in business over the past few years. [more]
If the last 9 months is an indication....not a chance...... [more]
Stock futures pointed to a higher market open Thursday, as more signs of weakness in the labor market led investors to bet that the government will keep interest rates low. [more]
MUNCIE -- Muncie motorists would be well served to check their high-beam headlights in the coming weeks. [more]
WELCOME TO ALSTRYNOMIC'S DIGITAL AGE.........
THE END OF THE WORLD AS YOU KNOW IT WHERE 50% OF WHAT WE CURRENTLY DO WILL NOT BE DONE IN THE NEW AGE.........
Is the book as we know it dead?
THE NEW AGE WILL BE VERY EXCITING...BUT THE CHANGE WILL BE VERY CONVULSIVE FOR MANY
The U.S. Census Bureau reports that state governments took in nearly $1.7 trillion in total revenues in fiscal year 2008, a 15.8 percent decrease from 2007. [more]
Consumers and businesses may finally be seeing some relief from rising utility bills, thanks to the biggest decline in U.S. electricity demand in decades. [more]
I have to admit, the Alstry project has been an interesting ride. In a world where the world is bankrupt.....what is the safe area for investing? [more]
As the Zombulator Zombulates our Nation....... [more]
As we bonus the bankers billions as the money drains from Zombulation......so many Fools will realize that most of our Jobs are not needed in a Zombulated Economy!!!!!! [more]
The Los Angeles Unified school board is expected to vote on a two-year budget plan today that calls for the elimination of more than 5,000 district positions unless employee unions agree to furloughs and pay cuts.
The layoffs could be avoided if all district employees were to take an 11.75 percent pay cut, which could come in the form of furloughs or other cuts. [more]
Yolo County will close 14 departments Dec. 21 through Jan. 2, as part of an aggressive cost-cutting effort. [more]
WASHINGTON (MarketWatch) - To prevent another devastating financial crisis, the Federal Reserve is going to have to learn how to identify and deflate asset bubbles before they can destabilize the economy, New York Federal Reserve Bank President Bill Dudley said Monday. The best way to control bubbles may be to monitor and limit the amount of leverage (or debt) that the financial sector takes on, Dudley said. Targeting asset bubbles would be a massive cultural shift for the Fed. "Limiting increases in leverage may help to prevent bubbles from being created in the first place," Dudley said in speech at Columbia University in New York. [more]
WHEN YOU LIVE IN A NATION THAT PURSUES ZOMBULATION.......AND THE CITIZENS ONLY FOCUS ON PROCRASTINATION AND NOT ADVOCATION......PRETTY SOON FEW HAVE ANY ASSETS LEFT FOR CONFISCATION [more]
WE BONUS A FEW BANKERS BILLIONS WITH TAXPAYER MONEY....AND SLASH THE INCOME OF MILLIONS OF TEACHERS......JUST WAIT UNTIL THEY FIND OUT THEIR PENSIONS ARE BANKRUPT...........HOW LONG DO YOU THINK BEFORE THE RIOTING BEGINS?????? [more]
BOISE -- For Dallas retiree Richard Snyder, the thrill of his central Idaho getaway is gone. [more]
For Kathy Lougheed, there's no mistaking the thrill of getting a new job at a brand new hospital in Maple Grove. [more]
What Alstry realizes that most of you don't is we have inflation and deflation going on simultaneously. [more]
Lebanese army chief: Prepare for Israeli attack [more]
To the best of my guestimate......revenues across most industries in America have dropped at least 20% over the past few years. The rest of the world is not too much different. In America a number of industries, such as health care and defense, have been artificially supported by an unsustainable deficit.....and as a result the dollar has plunged. [more]
Tax Receipts Down Massively [more]
For the past month we have posted hundreds of news releases documenting hundreds of thousands of job cuts.....in addition, we have documented hundreds of companies and municipalities close open job positions making it more difficult for millions to get rehired. [more]
Just to make things clear, being bullish on the dollar does not mean Alstry is bullish on the market.....further, each day that goes by brings us closer to 50% unemployment. [more]
A Much Stronger Dollar...... [more]
Alstry's moto has been IT is not the end of the world, simply the end of a world as you know it......in other words massive change.....and in the end, we will probably be collectively better off, but the process will be convulsive. [more]
Dubai, Ireland, Iceland, Greece, Spain, Bulgaria, Ukraine, Eastern Europe, Japan, China, United States, Russia, England, etc........ [more]
North Carolina's high unemployment rate has stuck the state with $1.4 billion in debt - money that officials don't know how they'll pay back.
It gets worse. The debt is still rising. The problem is that with about 500,000 people out of work, the state has more unemployment claims than it can pay. So it has been borrowing from the federal government since February, sometimes as much as $20 million a day.
The tally will rise to at least $2billion by the end of the year, said David Clegg, deputy chairman and chief operating officer of the N.C. Employment Security Commission. Next year, depending on the economy, could add another $2 billion to the tab, he said.
For purposes of comparison, the state budget for the current fiscal year is $19 billion. [more]
(Crain’s) — Local bar and grill chain Boston Blackies is seeking Chapter 11 bankruptcy protection from creditors after an ambitious expansion plan that was fried by the recession. [more]
A new trend is rapidly developing across America.....corporations and governments are shutting down and closing vacant positions in addition to laying off existing employees. [more]
At some point, bankers and foreign nations are going to stick the middle finger up at America and say we are no longer going to finance your unsustainable and growing defict. They will demand higher interest rates which will in turn require more printing pushing up interest rates even higher until we are printing so much just to meet interest obligations that our currency is practically worthless. [more]
An American Lawyer survey of law firm leaders found that 40 percent of the firms had reduced starting pay for their associates, and 44 percent are considering cuts next year. Venable managing partner Karl Racine sees permanent change afoot. “With associate salaries there is no doubt there is a correction taking place," he told the American Lawyer (sub. req.). [more]
Our tax receipts to government is evaporating while government's needs are at UNPRECEDENTED highs. [more]
Since Alstry started Blogging: [more]