Almost EVERY American... 30-70% Paycut????
Many Pilots are making about 40% less than they used to a few years ago.
Many Auto Workers are making about half if you factor benefits.
Many Real Estate agents are making about 66% less than they did a couple years ago.
Graphic Artists, Advertising, Construction and on and on and on.....
Company after company in America are demanding workers to take paycuts. Expect this trend to expand as we go forward.
Recently IBM announced it is shipping ANOTHER 5000 jobs to India due to lower labor costs. Manufacturers have outsourced millions of jobs in recent years. Technology companies are doing it more and more. Now, even radiologists and other medical specialties can be done overseas at a fraction of the cost.
The problem is that many of the above workers have not reduced debt as their wages decreased....as a matter of fact, many have had to increase debt simply to pay for health insurance and food for their families.
As the debt has increased and the wages decreased.....more and more have had to say FU.....as the trend continues and the government only bails out the banks....expect millions more to say FU.
If your wage hasn't been cut....don't fret.....it likely will....Alstry is almost positive. You see, revenues are drying up at almost every company and municipality in America.....NOT all yet....but definitely most.
I am talking to lawyers, doctors, and business owners who have seen their incomes drop hundreds of thousands per year....these are people who thought their incomes were recession proof. Let me inform you, under the Alstrynomic theory of Concentric Contraction....NO INCOME IS RECESSION PROOF!!!!
I have been warning you about this phenomenon for over a year.....I told you to prepare. Pay down debt....raise cash.....and move to higher ground as the tsunami hits the shore. It is very rewarding to hear that a number of you have prepared.....those that havn't there is still time.
If you think we are close to the bottom.......that is fine.....but Alstry is just starting to sip on his bloody.......as from this view on the hill........we must all make sacrifices to unwind the greatest debt bubble in history.....and judging on how relatively small the debt default has been so far... the sacrifices are just beginning.
Some of Alstry's Early Predictions...
Home Values would drop 70-80% from Peak. We have already seen 50% and more drops in a number of locations.
Commercial Real Estate Values will Drop 80-90% from Peak....we are already seeing 50% declines at the early stages.
Stock Market Correction of 80-90% from Peak.....we are already at 50%.
Wage Cuts between 50-75%. We have already seen cuts of 50% or more in a number of professions. Expect a lot more to come.
This not something to fear...it is necessary so our wages can be competitive with Asia so the outflow of jobs stops. And for those of you that don't think the Indians and Chinese are creative....it is obvious you are not very friendly with the natives like Alstry....and now that they are the repcipients of capital......you are about to find out just how creative they are.....
The world is flatening out....anyone with a bit of insight could have seen it coming....those that practice Alstrynomics have been warning people for the past few years.
Now CAPs is the exclusive place where you can read Alstry's wisdom day after day. Hopefully some of you will benefit. I know Alstry has become a much much better trader from CAPs...for that he thanks you all.