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alstry (36.27)

Chicago Shutting Down Before 9.09

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August 16, 2009 – Comments (7)

Many city offices will be closed Monday for a reduced-service day as part of efforts to balance the 2009 budget.

City Hall, public libraries, health clinics and most city offices will be closed, according to a news release.

As part of the 2009 budget, and without pay for affected city employees, reduced-service days also will be held on the Friday after Thanksgiving and on Christmas Eve.

On the reduced-service days, the city will have only the minimum amount of staff for essential city services. The reduced staffing will not apply to police, fire or other direct public safety providers, the city said.

City garbage collection and street sweeping will not take place on Monday, with those pickups or routes expected to be delayed one day.

The 2009 budget expects to save a total of $8.3 million over the three reduced-service days.

http://www.chicagobreakingnews.com/2009/08/monday-a-day-off-for-many-city-services.html

$8.3 million dollars?  That is not even a fraction of a taxpayer Goldman Sachs bonus.

What will happen to Chicago once they find out that the incoming tax receipts are MUCH lower than budgeted?

Welcome to Zombulation Nation... when politicians and bankers lie and citizens can't distinguish truth from trash.

Alstry will make this promise, once sales start increasing, incomes start rising, foreclosures start abating, bankruptcies start slowing, and jobs start growing.......if  just three of these things happen, Alstry will become a BULL.

or

When we finally restructure debt so more income can be applied to innovation and goods and services instead of interest to insolvent banks to offset even more defaulting debt.

Right now America is shutting down at an accellerating pace due to an inability to service debt. 

Prepare.

7 Comments – Post Your Own

#1) On August 16, 2009 at 8:06 PM, Teacherman1 (28.03) wrote:

The city council in Austin, Tx balanced their budget by requiring all city employees to take an unpaid period of time off. This is for the next fiscal year. It is on a sliding scale, with the highest paid having to take more time off, but applies to all but essentilal employees. They managed to do this without shutting down services or laying people off. I know that the news media has made Austin seem like an attractive place to live because of the relatively low unemployment, but that too is rising as a percentage because of all the people who moved here on no more than a hope and a prayer. They are now waiting in long lines at any job fair for almost any job. The consumer spending has also slowed down, reducing the sales tax on which the city primarily depends. No place is emempt during these times, but due to the conservative laws of Texas, we did not get hit with a home equity loan crisis. The law limits the second mortgage, along with the first to no more than 80% of the appraised value.

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#2) On August 16, 2009 at 8:08 PM, alstry (36.27) wrote:

HAPPY PROJECTION

Aug. 14 (Bloomberg) -- Instead of a so-called New Normal of subdued growth, the U.S. may be heading for a robust recovery.

The worst recession since the 1930s has created a reservoir of demand that will buoy the economy, say a growing number of economists led by James Glassman at JPMorgan Chase & Co., former Federal Reserve Governor Laurence Meyer and Stephen Stanley at RBS Securities Inc.

“Whenever we have plunged off a cliff and fallen into a deep hole in the past, for a while the economy has a tendency to bounce back very quickly,” said Glassman, a senior economist at JPMorgan in New York. Glassman and his colleagues this month said forecasts of 3 percent to 4 percent growth in coming quarters may be too low given “pent-up” consumer demand.

ALSTRY'S PROJECTION

UNTIL WE RELIEVE THE CONSUMER, BUSINESS, MUNICIPALITIES, SCHOOLS AND HOSPITALS OF EXCESSIVE DEBT BURDEN.....MORE AND MORE WILL BE UNABLE TO SERVICE DEBT AS THE BANKING SYSTEM CUTS OFF THE ECONOMY FROM CREDIT.

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#3) On August 16, 2009 at 9:13 PM, Varchild2008 (84.41) wrote:

Hate to break the news to you Alstry... Wait... Scratch that....

LOVE to break the folllowing news to you:

www.gallup.com

Gallup does not count CAR buying..... Does not count HOUSE buying.... Does not count BILL paying... in their survey.

And yet.. LO and Behold... We struck TRIPLE DIGITS in the 3 day average Consumer Spending $ amount.  101$ !   14 Day average is $72.

This means Retail stores will have to start hiring / expanding / opening up shops.  So much for Contraction... We are going to see some huge EXPANSION in 2010.

I think 9.09  =  DOW 10,000 !

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#4) On August 16, 2009 at 9:36 PM, JerseyShoreGirl (< 20) wrote:

Here's my report from the Jersey Shore. 

- Restaurants are packed, bars packed, steady flow of traffic coming down for weekend from Fri AM until Sunday PM (more day trippers for sure!), beach areas packed, upscale retails stores can be dead at times, 50%+ off signs plastered in windows, garden centers look empty and are blowing out merch. Things seem to be thriving here for tourism at least.

- From reading local papers, I haven't seen anything about budget issues, but I know NJ is having some major financial issues and was recently downgraded.

- All in all, I don't get the feeling here that things are crumbling .. things feel bustling here .. but then again, people aren't going to just sit home .. and gas is still relatively cheap so people will travel on the weekends.

MY POINT OF THE DAY:  Alstry, I do not doubt the facts you present about local govts, state govts, etc., hurting and how our govt has so many 'safety net' programs in place that the working/taxpaying citizens need to support .. and with revenues evaporating as millions of jobs have been lost, we're heading down a dark path because something has to give.  Like Teacherman1 I have full confidence in the capitalistic system ... BUT THIS IS A CORRUPTION RIDDEN, bailout, stimulus package, Goldman Sachs bonus era and our deficit is $2T .. we haven't lived with this deficit for long and really haven't seen the implications of such a deficit.  I agree that it does seem as though the GOVT SEEMS TO BE INTENTIONALLY RUNNING US OFF A CLIFF .. and the capitalistic system is being smothered.

Having said that, the way I see Alstry's 9.09 MOAP play out .. where we all feel something simultaneously is if the Govt does pull a drastic move .. like a bank holiday or something else that will intentionally incite panic or anger .. or if some tipping point goes off internationally that causes a global chain reaction. 

Like Teacherman1, I do have confidence in this system, but it does seem like there are forces at work to intentionally derail our system; therefore, we could see an extreme situation unfold very easily .. and I don't believe we've seen such forces at work against our system in our lifetime .. our way of life is more fragile than we know .. remember the aftershocks of 9/11.

Cloward-Piven .. if you haven't googled it, do so!

Because we look at issues via Hegelian Dialectic, some have a hard time fathoming what Alstry predicts. 

Hegelian Dialectic .. google it if you haven't. Here's one take on it http://www.amerikanexpose.com/hegel/

I think what Alsty does here is help us think outside the box ... what's happening in our country isn't black/white ... there are a lot of moving parts and many scenes playing out simultaneously .. Alstry helps us keep our eyes on all the balls in the air .. there is a lot coming at us!

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#5) On August 16, 2009 at 11:32 PM, alstry (36.27) wrote:

If Alstry make you think, than he has accomplished a lot.  Alstry's goal is to be rated 100....right now that seems like a tall order.

Sorta strange don't you think that we bail out banks for trillions, give banking exectutives of insolvent banks billions in bonuses, yet we can't afford to keep city offices open for a few million of our third largest city in the nation?

Hmmmm.

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#6) On August 17, 2009 at 12:38 AM, alstry (36.27) wrote:

HOUSING IMPROVING!

From Bloomberg:
“Banks repossessed almost three times as many U.S. homes in July as a year earlier and the number of properties at risk of foreclosure jumped 55 percent as falling prices made it harder to sell or refinance.

“Bank seizures rose 184 percent to 77,295, the steepest increase since reporting began in January 2005, RealtyTrac Inc., an Irvine, California-based seller of foreclosure data, said today in a statement. More than 272,000 properties, or one in 464 U.S. households, got a default notice, were warned of a pending auction or foreclosed on. ‘It’s getting worse,’ Rick Sharga, RealtyTrac’s executive vice president for marketing, said in an interview. ‘The number of properties that have been foreclosed on by the banks and still haven’t sold is the highest we’ve ever seen.’

“… Bank seizures, known as real estate-owned or REO properties, are the ‘fastest growing segment of foreclosure activity,’ James Saccacio, chief executive officer of RealtyTrac, said in the statement. The REO properties in the company’s database represent about 17 percent of the inventory of existing homes reported in June by the National Association of Realtors, he said.

“Default notices in July increased 53 percent from a year earlier and auction notices rose 11 percent, RealtyTrac said. The June total of 252,363 reflected an ‘artificial depression’ due to new state laws designed to help homeowners avoid foreclosure, Sharga said.”

THE ABOVE WAS OBTAINED FROM THE HOUSINGBUBBLEBLOG.COM

Whooops....sorry about the headline, just wanted to know what it felt like to be the mainstream press for a second.

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#7) On August 17, 2009 at 10:04 AM, brickcityman (< 20) wrote:

In true "Faux News" style...

 

Alstry, can you address allegations (that i have just made in another blog post) that you are nothing more than an advertising tool for the movie "9"?

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