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alstry (34.92)

FU flu goes VIRAL

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March 18, 2009 – Comments (6)

March 18 (Bloomberg) -- U.K. unemployment rose at the fastest pace since at least 1971 in February, deepening the plight of Prime Minister Gordon Brown as he struggles to stop the economy’s downward spiral.

This will be without a doubt the most unsettling phase of Alstrynomics concentric contraction and the one I have been warning you to prepare for.

There are two types of FU:

1.  FU by necessity

2.  FU by desire

FU by necessity will be the most common.  It happens when there is simply an inability to pay ones counterparty obligation.  A city tells its workers FU...your fired..or we can't afford to pay you as much even though we have a contract.  A business tells another business...FU we can't pay your invoice because we can't pay our rent.  An individual tells the credit card company..FU we can't pay our credit card bill because we need to pay rent.

But FU by desire will raise its ugly head as well.  For example, when the credit card company raises the interest rate from 18% to 32%...many will say FU and not pay even though they may have the funds to do so...same with mortgage rates going from 6% to 9%....FU too.  Taxpayers will revolt telling government FU..I am tired of using my tax dollars to give executives of private bankrupt companies millions in bonuses.

We are seeing the the beginning of the epidemic right now:

The city of Valejo CA has been judically authorized to break its union contracts with workers.

GM considering bankruptcy and likely to say FU to workers, corporate debt holders, and retirees.

Commercial Retail tenants closing down shop and saying FU to landlords everywhere.

Employers telling employees FU...we can't afford to have you around.

Employees telling credit card companies and mortgage holders in record numbers FU...we are not going to pay.

Insurance companies telling doctors...FU for a variety of reasons

Doctors telling patients FU..if you don't pay me first I am not going to treat you

Vendors telling customers..FU we are not going to supply you any more

Once enough people say FU...the stream of commerce grinds to a halt the plane lands on the Hudson...the problem now is we don't know if it stays together or not....

The FU flu is going viral and soon to be an epidemic...the current treatment plan is doing nothing to arrest it...LOANING MORE MONEY TO A PERSON WHO CAN'T PAY ONLY COMPOUNDS THE PROBLEM!!!!!!!

Is there a COMPETENT doctor in the house?????

Anyone want to share their personal encournter with the FU flu please feel free to comment below...I do have a minor background in psychology.

6 Comments – Post Your Own

#1) On March 18, 2009 at 8:52 AM, Chrisynd (< 20) wrote:

Didn't you say just the other day that this would happen? 

Consumer prices rise in Feb. by largest amount in 7 months as gasoline, clothing prices jump.

http://biz.yahoo.com/ap/090318/economy.html?sec=topStories&pos=main&asset=TBD&ccode=TBD

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#2) On March 18, 2009 at 8:59 AM, alstry (34.92) wrote:

U.S. Feb. food prices fall 0.1%, first decline in 3 years

U.S. Feb. real weekly earnings fall 0.3%

Home prices 50% off

Rent rates imploding

Clothing.....we all have too much....

Food, Clothing and Shelter falling in price....sure looks like inflation to me..................just wait until more and more contract the FU virus...pretty soon people will take just about anything just for the assurance they will be paid....

If don't believe me....I suggest you contact some commercial landlords

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#3) On March 18, 2009 at 9:28 AM, alstry (34.92) wrote:

FU virus attacks hospital!!!!!!!!!!!!!!!!

March 18 (Bloomberg) -- South County Hospital Chief Financial Officer Thomas Breen thought he’d seen the worst of the credit market’s seizure when the interest rate on $52 million of its debt doubled to 12 percent a year ago.

That was just the start. The Wakefield, Rhode Island, hospital has also been forced to give Merrill Lynch & Co. $12.7 million of collateral for an interest-rate swap that backfired. South County could have used those funds to counter a drop in state aid for treating uninsured patients, compensate for declining admissions or buy four years’ of orthopedic supplies. Instead, the facility is firing workers and cutting pay.

“We’ve been working extraordinarily hard to try to find a way out of this,” said Breen, who joined the hospital in 2007, a year after it bought the swap. “It’s threatening to the institution.”

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#4) On March 18, 2009 at 10:41 AM, 4everlost (29.35) wrote:

Al - Why didn't you call it the FY virus?

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#5) On March 18, 2009 at 11:56 AM, angusthermopylae (38.77) wrote:

I'm waiting for the Big One--telling current and soon-to-be retiress FU, we can't pay.

Are baby boomers still the big money with respect to purchasing power?  Or has that changed hands to their children (that would include me)?  Either way, that would be a fundamental blow to the whole shebang...and then we'll see the mass protests in DC.

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#6) On March 18, 2009 at 2:43 PM, shffl (< 20) wrote:

Food, Clothing and Shelter falling in price....sure looks like inflation to me..................just wait until more and more contract the FU virus...pretty soon people will take just about anything just for the assurance they will be paid....

hold on a sec alstry, how is falling prices a sign of inflation? unless of course you're just exagerating then nm lol!

i can see what you mean by when credit companies raised interest rates ppl stopped paying debts. a lot off ppl i know have been doing late. some even file for bankrupcy and foreclosed their home and run away with the money lol. though that was a while ago before the government making it harder for someone to file a bankrupcy now.  

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