EVERYTHING 2 Change...RADICALLY
In addition to MASSIVE JOB LOSSES, our wages across America are evaporating at rates we have NEVER seen before....today we saw the UAW take a HUGE haircut in its GM negotiations....and this from the WSJ:
Accelerating health-care premiums and sharp revenue shortfalls due to the recession are forcing some small companies to choose between dropping health insurance or laying off workers -- or staying in business at all.
Dropping health insurance can result in a HUGE effective pay cut for that employee if he or she wants to maintain coverage...especially family coverage. We are seeing job losses, wage reductions, and benefit reductions explode across the nation....and the consequences are being felt everywhere evidenced by the FU virus pandemic.
As described in the previous blog, we are now in the Deconstructive Phase of the Industrial Age which Alstrynomics characterized as Concentric Constraction. Practically everything that had value in the Industrial Age is CRASHING right now....Housing, Commercial Real Estate, Vacation Property, Boats, Bonds, and other trappings of the age.....over the past few years, the market has lost about 40% of its value as earnings have evaporated decreasing about 90% on the S&P.
This process has a long long way to go as 30-50% of the American workforce is likely going to lose their jobs or receive such massive paycuts that they will be effectively unemployed since they will not be able to meet their minumum subsistence expenditures.
The process will be convulsive for many....but it will pave the way for what Alstrynomics characterizes as the Technological Age.....where much of what we value now will not even be relevant in the near future.
In the mean time, expect the economic pain to increase dramtically....house prices continuing to crash, jobs lost by the millions, wages and benefits slashed, commercial vacancies to explode, legacy businesses to shut down, debts to default, etc........as Concentric Contraction proceeds forward.
Today our government reported consumer confidence was up.....let's we what government reports as this inevitable process moves forward and we proceed with our Zombie Bank policy resulting in Zombulation of the Nation.
How does it feel to be Zombulated?????????????????????????????????????
However, will we reach jubilation from zombulation.......only if prepared.