Don't Shoot the Messenger
December 23, 2008
– Comments (18)
SACRAMENTO, Calif. – California's chief financial officer warned Monday that the state would run out of money in about two months
HONG KONG (AFP) – Macau's giant Venetian casino owned by troubled Las Vegas Sands has sacked 500 staff(note the location)....Last month, the US-based firm said it was firing up to 11,000 mainly construction staff as it halted work at a new 6,400-room resort close to the Venetian
The recession and housing bust have slowed migration throughout the U.S., keeping more Americans in place, according to Census Bureau data released Monday.
During this holiday season of hard times, not even houses of God have been spared. Church giving is down, and lenders believe more churches than ever have fallen behind on loans, with some filing for bankruptcy.
Japan’s exports plunged the most on record in November as global demand for cars and electronics collapsed
“You never see that,” Lytle said. “It’s quiet. Too quiet.” Port traffic has slowed from North America to Europe and Asia as a recession erodes consumer demand and the credit crisis chokes off loans to export-dependent companies.
The worst U.S. auto market since the early 1990s may force Toyota Motor Corp. to do something that was once unthinkable: cut its North American payroll.
U.S. retailers will face a Darwinian fight for survival next year as they run out of cash as early as January and competition forces thousands of store closings, according to private-equity buyers and restructuring experts.
U.K. third-quarter GDP revised down; fourth quarter looks grim
New Zealand economy shrinks further
Unisys to lay off 1,300 in cost-cutting move
Plunging home prices, rising unemployment and tightening credit have led consumers to rein in spending, resulting in what may be the worst holiday season in at least four decades.
Manpower Inc. lowered its financial forecast for the fourth quarter, in the latest sign that the job market is weakening rapidly, and that the troubles are spreading to Europe.
Old Dominion Freight Line sees drop in quarterly tonnage
Textron lowers outlook, to cut about 5% of workforce
We could go on and on and on and on and on........................
Wages being slashed, job market weakening RAPIDLY, plunging home prices, wealth evaporating, municipalities running out of money, prices for goods and services declining all over the place.....
And some CAPs members want you to believe this is inflationary?????????? My friends, I can't change the facts.....it is what it is.......
Fools, don't be fooled by the fools who are saying the fed is printing money so it must be inflation...obviously these fools never took a course in Alstrynomics(the practical and common sense application of Economics....as opposed to theory in a vacum). Even if there is printing, if wealth is being destroyed at a faster rate than the printing, WE SEE IT EVERYWHERE, there is a net reduction in spending capaciity and often prices decline. Yes, Virginia, you can have monetary inflation and price deflation. Most people in the common sense world define inflation as rising prices, not increasing money supply.
Japan practically doubled its money supply during its recession for for about 10 years during the 90s as prices kept falling and falling. Is that inflation or deflation?????
I can't change the facts....business after business is shutting down, letting workers go, or cutting pay, pension fund assets are evaporating, millions of mortgages are on the brink of default, municipalities are coping with rising costs and shrinking revenues, our investments are contracting in value, oil prices are crashing, and on and on............and this is just no not just America...its spreading everywhere like a rapidly metasticizing cancer.
Just like you can't drink your way out of alcoholism, you can't print your way out of insolvency. If most don't have any money, even if few do, life sucks for all. America was great because everyone had some chips at the poker table. It was one hell of a party. Yes some had more than others, but for the most part, everyone was allowed to play. Now that fewer and fewer have any chips at all......it is just not the same game my friends.
But don't despair.....PREPARE. The chips will start flowing again....just probably not for a while. In the mean time.....save your chips, the value is increasing everyday, hang out with friends and family, and if you are sitting on an Ace with three on the table flanked by a couple of off suited cards....go all in.
Life is one big poker game and you must know when to hold em........and now is the time to save cash.
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