Alstrynomics Warned You!!!!!!!!!!!!!!!!!!!
Budget deficit widens 10% as receipts fall to 14-year low
U.S. Feb. budget deficit 2nd highest monthly gap ever
U.S. Feb. individual income tax receipts at 24-year low
U.S. Feb. tax receipts plunge to 14-year low
U.S. budget deficit year-to-date record $765 billion
U.S. Feb. budget deficit widens 10% to $192.7 billion
Early last year I was warning you that budget receipts to local, state, and Federal government was evaporating. We are now tangibly seeing the effects of all the job losses, wage cuts, and declining incomes of individuals and corporations accross America that I was blogging about day after day. As credit contracts further, the problems will only get worse as more and more can't spend and business slows further and values of just about everything crash.
We are seeing the evidence get clearer and clearer everyday. More and more companies are cutting benefits, reducing wages, and eliminating large percentages of their workforce altogether. There is nothing fun about this or its effect on our people.....it truly sucks and is likely to get worse.
As more and more workers get pay cuts and lose their jobs, as more and more business see sales slows and profits erode, revenues to government are going to continue to contract. Until we purge the debt out of the system......it seems from this perspective that it is contraction as far as the eye can see.......please don't dispair.....try to prepare.
TRDH said this blog was "dribble"....pretty soon we will all be dibbling trying to figure out where our cities and states are going to raise money to pay for essential services. If you don't think this relates to investing and corporate earnings......then please enjoy this rally....it is likely to be very short lived.