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alstry (35.99)

America...Shutting Down Or Outsourced

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July 09, 2010 – Comments (8)

For the past hundred years, by loaning more and more money....America grew into the most amazing industrial economy the world has ever seen....

In the last ten, much of our economy we simply driven by debt induced consumption....

Now that Wall Street is cutting off credit to our private sector.....our Industrial Economy is collapsing.

The RUST BELT has been outsourced.....

and

The GULF STATES are now shutting down......

And soon revenues will be so low that we will simply not be able to support our very expensive health care system, state/local governments, universities and schools...and pretty much everything else.

You knew this would happen once Wall Street cut off credit to a credit based conumption economy....

Credit Crunch Alive and Well

YET WALL STREET AND POLITICIANS ARE GETTING RAISES AND BONUSES EVEN THOUGH THEY ARE INSOLVENT TOO? 

Public University Face 'Dramatic' Funding Cuts: Moody's says 

Toxic Bank Assets Haven't Gone Away Yet

East Hanover NJ - Taxes are going to Rise in new Budget

 

8 Comments – Post Your Own

#1) On July 09, 2010 at 10:20 AM, alstry (35.99) wrote:

It is simply Wall Street killing the American Industrial economy....it is not the end of the world........just the end of a world as you know it......

Welcome to the Digital Age....

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#2) On July 09, 2010 at 10:34 AM, brickcityman (< 20) wrote:

Well when one of the major broadcast networks puts together a sitcom centering around outsourcing...

 

And even makes the title "Outsourced" with the intent of it being a comical statement you know we've turned a corner.

 

Perhaps it will be a public service...  In that it might piss people off enough that joking about Americans losing their jobs will cause some to start taking action.  But sadly I doubt that will happen.

 

 

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#3) On July 09, 2010 at 10:43 AM, alstry (35.99) wrote:

I am not sure why the Fools think they are so special....if we can outsource the entire Rust Belt because of "efficiency"....why not simply outsource the rest of America?

Heck...why pay an Indian Doctor in America $500K per year and pay that same Indian Doctor in India $50K per year?

The problem is not many of the current contractual obligations in America can be executed at much lower revenue receipts.

Get ready...this will be interesting as America learns it was outsourced by Wall Street AFTER it bailed Wall Street out....

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#4) On July 09, 2010 at 11:21 AM, lquadland10 (< 20) wrote:

Wall Street is the government. How many of GS is running the treasury? Also the FED who is not part of the government is running the Country. No we need a trade war IMO and end the FED.

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#5) On July 09, 2010 at 11:32 AM, alstry (35.99) wrote:

It is funny....we are cutting wages and revenues to private America but INSOLVENT politicians and bankers are getting raises and bonuses....

Your paycheck is shrinking

You would think if America was insolvent...bankers and politicians would be too...

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#6) On July 09, 2010 at 11:35 AM, alstry (35.99) wrote:

Relink...

http://www.marketwatch.com/story/workers-salaries-lost-ground-in-past-decade-2010-07-07?link=kiosk

Isn't it criminal if Bankers are Politicians are stealing from the people while cutting off the people from the benefits they are giving themselves?

Anyone hear of Bernie Madoff?

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#7) On July 09, 2010 at 12:08 PM, vriguy (80.01) wrote:

Few doctors make 500K, but even if we take your numbers, it is better for us to pay our folks here. If you pay a doctor 500K our economy recovers 250K in taxes (that translates to govt. spending), and another 100-150K worth of consumer spending, and 100-150K worth of investment in real estate and stocks.  If 50K is sent overseas less than 5K returns here.

I doubt most Fools think they are special and can avoid any crash.  Simply, there is a dearth of viable alternatives for those of us with jobs and living expenses. I'm unhappy with the shenanigans being perpetrated by bankers and politicians, but there really isn't much I can do beyond voting against them.

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#8) On July 09, 2010 at 12:40 PM, jddubya (< 20) wrote:

I'm voting against any incumbent this November.

....and Alstry continues to be wrong.

(comment added by my 'outsourced' mf account from india)

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