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alstry (36.00)

Did Benny Kill The Economy???

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November 19, 2009 – Comments (17)

We are building homes at 1940s rates....when our population was a fraction of the size.

After Jan 1st, commercial RE construction basically comes to a grinding halt.

Commericial RE sales are down 70-90%.

Auto Sales are tracking 1960s sales levels.

Airlines are flying at early 1990s capacity.

Power plants are shutting down going off grid due to lack of demand.

YET DEBT AND COSTS ARE AT 2008 when revenues were flowing at MUCH HIGHER levels.

As are result, small businesses are in a depression and have difficulty accessing credit.

Tax receipts are contracting at the fastest rate in history.

Unemployment is approaching depression era levels and government and health care have just started laying off in large numbers.

ALL WHILE BENNY B IS RUNNING A $2 TRILLION DOLLAR DEFICIT SO WE CAN GIVE MOST OF THE NATIONS WEALTH TO THE BANKS while he tells us the recession is over.

So here we are, banks can't make much lending, RE is practically dead, and insurance is suffering.  Without FIRE humming, our economy is not generating much in earnings.  Little earnings little tax receipts and we begin to starve the largest consumer in the world, U.S. Government.

In order to save the banks did Benny kill the economy with his zombulation policies???  Just wait for January, after millions more have lost their jobs, thousands of businesses have shut down, state, county, and municipal government learn that revenues they became dependent upon become a distant memory of the past.  Same with the income of many in the private sector.

Pretty soon, millions of Americans will be sitting around with not much to do and little prospects employment.......the masses will likely get restless........what do you think might happen to get  people working or distract them from their condition?

17 Comments – Post Your Own

#1) On November 19, 2009 at 4:23 PM, alstry (36.00) wrote:

Get rid of millions of jobs, you don't need millions of computers.

Dell Inc. on Thursday reported a fiscal third-quarter profit of $337 million, or 17 cents a share, on revenue of $12.9 billion. The PC giant's profit fell 54% from the same period a year ago when the company earned $727 million, or 37 cents a share, on $15.2 billion in sales.

or $15,000 per year health insurance policies....or $25,000 cars......or $300,000 mortgages......or $100  cable bills.........or......

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#2) On November 19, 2009 at 5:08 PM, alstry (36.00) wrote:

And lots more jobs lost.....

Fairfax County Libraries - 107 ?

Vista electric-vehicle maker Aptera - Funding  Problem = Layoffs

AOL - 2,300

Vallejo police officers - 7

Calhoun County - Likely to see Layoffs

Update: Clariant - 570

City of Livonia - 12

Mountainside Hospital - 300

Fresno California Mayor Announces Layoffs and Cuts

Clermont County - Layoffs / Furloughs Likely

Arizona School Teachers At Risk of Job Cuts / Pay Cuts

Eagle County - Layoffs Next Year

Las Palma’s Authentic Mexican restaurant

P&C Grocery Store ( Penn Traffic) - Possibly Closing Some Stores

Secretary of State Office in Frankenmuth

Job Service Center at Strother Field

New Era Company Closing Some US Facilities 

Limited Brands Closing Canadian Apparel Chain

Legacy Magazine Closing

Angelina's Pasta Shop in Portsmouth

Advanced Laser Clinics of Illinois

Nicolosi’s family restaurant Closing 

Ethan Allen Furniture Store on The Liberty Square 

The Little Falls Family Dollar

Panera Bread in Lincoln Closing Monday

 

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#3) On November 19, 2009 at 5:22 PM, jason2713 (< 20) wrote:

I'm in IT at a healthcare provider.  I like my odds, although I know I'm not 100% safe, but I've never been 100% safe.  This is the reason I have side consulting and have been doing it for years.  Always a nice fall back.  My side business hasn't slowed what so ever.  I continue to stay busy, and the company I work for is growing by leaps and bounds (have tripled in size since 2003).  It continues to hire people at a ridiculous pace. 

That's the other side of the coin.

The way I see it, its the under educated, low skilled workers that are getting pummeled the most.  Next in line is the fresh grads from college.  I have a master's degree, 6yrs of experience, I feel pretty safe.  I hope people get more educated, and we continue to lag every other country in education.  That means the generations coming up will not have a competitive edge vs the world....we are in dire times.

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#4) On November 19, 2009 at 5:36 PM, alstry (36.00) wrote:

Tell that to the teachers, pilots, architects, lawyers, and accountants now being cut.....

health care and government is just beginning.

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#5) On November 19, 2009 at 6:01 PM, davejh23 (< 20) wrote:

I work for a large engineering firm and IT spending has been cut dramatically.  We used to have a lease program with Dell, but it was dropped.  IT support was also consolidated and jobs were cut.  We always have openings for talented engineers, but it's hard to fill these positions.  Many fresh engineering grads, even from top programs, are sub-par.  Without a strong shift towards math and science in our schools, I can't see how the US will lead the "green revolution".  As it is, many of our most talented engineers aren't from the US...and many of the most promising alternative energy technologies are already coming from foreign based companies.

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#6) On November 19, 2009 at 8:16 PM, jddubya (< 20) wrote:

"Power plants are shutting down going off grid due to lack of demand."

That is so not the case.  When you make stupid statements like that you better be able to back them up, or qualify the statement.  Sheeesh!

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#7) On November 19, 2009 at 8:20 PM, jddubya (< 20) wrote:

"Pretty soon, millions of Americans will be sitting around with not much to do and little prospects employment......."

I suppose that's going to be why it's the end of the world as YOU know it.   Pray tell when will this be? 

You've stated before that you hope to be wrong - well then, I'm here to congratulate you and explain to you that you've been mostly wrong with your predictions since you started.

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#8) On November 19, 2009 at 8:47 PM, FoolsGrad (99.95) wrote:

"Power plants are shutting down going off grid due to lack of demand."

This is a very ignorant statement.

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#9) On November 19, 2009 at 9:08 PM, Starfirenv (< 20) wrote:

#8  That's why Falstry has zero cred. I mean that's why he's an Oracle. 9.10.11-  it's coming!!!!!!!!!! Prepare!!!!!!!!!!!! And JDUBYA, you need to pray for snow. Shredstrydomous.

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#10) On November 19, 2009 at 9:34 PM, alstry (36.00) wrote:

A year ago, the North American Electric Reliability Corp. had predicted that total electric power consumption in the United States and Canada's southern provinces would top 4,700 gigawatt-hours this year. In its annual long-term assessment released yesterday, NERC predicted that total would not be reached until 2011, two years later. NERC's new forecast of the annual increase in electricity demand has dropped below 1.5 percent per year. Four years ago, it was predicting annual electricity growth of nearly 2 percent.

Peak power demand forecasts for 2009 have dropped by 4 percent from 2008 estimates, FERC said. The economy's slump accounts for 80 percent of the reduced demand.

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#11) On November 19, 2009 at 9:57 PM, jddubya (< 20) wrote:

Hello?!?!?  That statement says that the demand didn't INCREASE AS MUCH AS PREDICTED.  Plants ARE NOT shutting down. Demans is INCREASING. PEAK forecasts have dropped.

Idiotic.

starfirenv - yes, I'm praying for the snow... tahoe getting some tomorrow i guess.  I'M PREPARING!!!!!!

 

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#12) On November 19, 2009 at 11:34 PM, alstry (36.00) wrote:

The recession was hardly anybody’s idea of a good way to put the country on a sensible energy diet. But it may have done just that. Many coal plants whose emissions were spreading acid rain, mercury and the ingredients of global warming have not been running as much lately, and the price of coal was down by half in the last year — like the price of oil. Demand for electricity was down 1 percent last year and another 4 percent in the first half of 2009; ordinarily, electric use would be expected to grow 5 percent in three to four years. Industrial demand was down to levels not seen since the 1990s.

http://www.nytimes.com/2009/11/19/business/energy-environment/19SURPLUS.html?_r=1

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#13) On November 20, 2009 at 12:00 AM, Rasbold (91.47) wrote:

Alstry, Alstry , Alstry....dude.

 

Relax.

 

and....not just Tahoe, but SNOW TO 3500 FEET!!!

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#14) On November 20, 2009 at 12:06 AM, alstry (36.00) wrote:

War will begin soon Ras.....we can all relax then......

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#15) On November 20, 2009 at 12:12 AM, Starfirenv (< 20) wrote:

Al, would you tell us about BLOOD IN THE STREETS BY 9.09 some more? I fergit.

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#16) On November 20, 2009 at 12:25 AM, alstry (36.00) wrote:

No banker will ever let a nation run a $2 Trillion dollar deficit without serious consequences and costs to the nation and its citizens

In 9.09....one in six Americans were hungry, one in five were unemployed.....soon, these numbers will explode.....then you  will feel as our only option will be to fight

It is inevitable and is what always happens when a nation runs out of money......why do you think defense is the only segment seeing growing spending....especially overseas.

When a nation's population does not appreciate the consequences of its condition....the population eventually feels the condition.

 

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#17) On November 20, 2009 at 10:30 AM, jddubya (< 20) wrote:

#12

Dumb.  The fact is Power plants are not shutting down.  The only thing that *might* be shutting down are "Peakers" - small power plants that are started up to cover the excess load during, you guessed it, peak times.

You should thank me.  You have said several times that you hope you are wrong.

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