Finally Alstry's Predictions Are Coming True
July 13, 2010
– Comments (6)
Isn't it amazing, Americans bailed out Wall Street and now Wall Street is shutting down America.
Three years ago....Alstry promised America's economy as you knew it would shut down if Wall Street cut off credit to small business and the consumer.....
At the time, small business was responsible for 50% of American employment and consumer spending was responsible for over 2/3 of the economy......
Without free flowing credit the consumer would stop consuming and small business would collapse. Such a collapse would be followed by a collapse of the banking sector followed by a collapase of state and local government due to evaporating tax receipts.
Now nearly every city, county state, and pension fund is on the brink of insolvency. Practically every hospital in America if firing workers and scaling back....so are most school districts......not to mention most cities, counties and states including police departments and firefighters.
Our college graduates can't find jobs......over 40 million familes are now dependent on food stamps to eat....50 million dependent on social security......and over 15 million on unemployment........
NEVER BEFORE IN AMERICAN HISTORY HAVE SO MANY BEEN DEPENDENT ON GOVERNMENT SPENDING TO CONSUME AND THE ECONOMY IS STILL COLLAPSING...
All of the above while government is running a massive deficit in an attempt to stimulate the economy......
You know the game is over as our cities, counties, states, schools, hospitals start laying off millions of workers.....not to mention hundreds of thousands of postal workers.....plus countless numbers of uncounted small business people and independent contractors.
Just check out the links below as tax receipts continue to contract despite massive government deficits.......
Dade City FL - Budget Plan could = 76 Layoffs
Novant Health Inc - 48 Layoffs in Winston Salem
New Jersey City NJ - More Layoffs Possible
Texas A&M University - 66
Nordonia Hills Schools - 14
St. Francis Health Center - 105
Newark Public Library NJ - Job Cuts, Closures
Update: Long Beach School District CA - 357
Biolase Technology Inc - 20 Buena 911 Service NJ - 10 Possible
Schenectady NY - Budget = 160 Layoffs / Retirement
New Jersey Turnpike Authority - 24 Possible Layoffs
Forsyth Medical Center NC - 48
Pretty soon, when few have anything to do...the only thing left to do is fight....especially if there are no police to respond....
CRIMINAL'S DELIGHT: OAKLAND COPS WON'T RESPOND TO 'MINOR' CRIMES
Now the question is how long can Obama keep handing out free money to over 100,000,000 Americans so they can consume even though the government doesn't have the money to hand out?
We will see what kind of recovery we are having when hundreds of millions of Americans can't consume....simply because Wall Street cut off credit to main street and main street bailied out Wall Street.
Why would main street have down such an idiotic thing without bailing itself out?
RSS Headlines
Fool UK