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alstry (35.09)

Are YOU PREPARED for a 50% WAGE CUT????

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May 31, 2009 – Comments (5)

June 1 (Bloomberg) -- Treasury Secretary Timothy Geithner arrived in Beijing with a pledge that the Obama administration will control its borrowing as he sought to reassure China its holdings of U.S. government debt are safe.

No one is going to be more concerned about future deficits than we are,” Geithner told reporters on the way to two days of meetings that start today in China’s capital.

http://www.bloomberg.com/apps/news?pid=20601087&sid=afg8MXnVGSGo&refer=home

Interesting....as Obama faces evaporating tax revenues with exploding entitlement costs in part due to a Zombulation policy...at this point the ONLY way to control deficits is fire workers, cut wages, and eliminate entitlements.  All of these actions will only slow the economy further resulting in millions of job losses and tens of millions of wage reductions.. if borrowing is curtailed even more... it will very likely result in 30-50% unemployment and/or massive wage cuts.

At this point, it is very clear that many CAPs players have little clue what rests ahead.....but Alstry has little doubt that soon many of your heads will clear.

Prepare.

5 Comments – Post Your Own

#1) On May 31, 2009 at 8:43 PM, PrestonCheek (31.87) wrote:

Here is something that adds to your case.

Foreclosures add to hurricane hazardsAP IMPACT: More foreclosures in hurricane-prone communities mean more danger if storm strikes Tamara Lush, Associated Press Writer On Sunday May 31, 2009, 12:18 pm EDT

LEHIGH ACRES, Fla. (AP) -- Mike Manikchand points toward his neighbors -- a half-dozen empty, foreclosed-upon homes, sitting on weed-strewn yards -- and he wonders: What will happen if a hurricane slams into southwest Florida this year?

His simple answer: "A lot of these places will get destroyed."

Unoccupied, these homes would be defenseless in a storm; there will be no one to put up shutters, batten down garage doors and otherwise secure homes. But that's not all. Nearby homes and their residents would also be at risk from wind-propelled debris.

Lehigh Acres and other communities at the epicenter of the nation's housing crisis are coming to realize that this year's hurricane season, beginning June 1, represents yet another pitfall. Hurricanes could make hazards of thousands of foreclosed-upon houses, and their diminished value could decrease even more.

"Here's your choice," said Julie Rochman, president of the Tampa-based Institute for Business and Home Safety. "Spend a little bit of time and money to secure the properties to withstand wind and water or not do the right thing and have the homes become damaged and are valued less."

The Associated Press Economic Stress Index -- a month-by-month analysis of foreclosure, bankruptcy and unemployment rates in more than 3,000 U.S. counties -- confirms that some of the areas most likely to be stuck by a hurricane are suffering the most in this recession.

In March, there were 281,691 homes in foreclosure in Florida and coastal counties in Alabama, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Texas and Virginia.

How are the bloodys going tonight?

Preston

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#2) On May 31, 2009 at 9:48 PM, alstry (35.09) wrote:

CLEVELAND -- More and more Ohioans are turning to food stamps to make ends meet as the state's economy continues to worsen.

Lisa Hamler-Fugitt, executive director of the Ohio Association of Second Harvest Foodbanks, says food stamp participation is skyrocketing.

Nationally, 32.6 million people received the benefit in February, the highest number in the program's history.

http://www.newsnet5.com/money/19612177/detail.html

Over 32 million people receiving food stamp in February...and likely more now with additinal job losses and wage cuts...please explain how can Obama possibly control deficits unless he cuts these people off soon???  After all, tax revenues to the Federal Government are evaporating.

What a bunch of moochers we Americans must be to think we should get money from our government that doesn't have much money itself.

But if Obama does cut food stamps, what do you think cutting off over 30 million people to money will do to grocery sales??

 

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#3) On June 01, 2009 at 2:26 AM, kaskoosek (67.10) wrote:

You need to take some Valium.

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#4) On June 01, 2009 at 9:53 AM, jddubya (31.97) wrote:

At this point, it is very clear that many CAPs players have little clue what rests ahead.....

Ha!  Very true statement!  These statements are what make your blogs so entertaining....take an irrelevent piece of information and then sensationalize it.

The fact is 100% of CAPS players have little clue of what's ahead, including you.  The future is the future.  If there is anyone out there that consistently has a clue of what rests ahead then that person or persons will have continually made financial progress throughout the years and as a result, are not likely to even be CAPS members.

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#5) On June 01, 2009 at 10:20 AM, bigpeach (27.88) wrote:

What should I do if I'm offered a raise? Should I PREPARE!?!?!?!?!?!?

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