Holy Alstrynomics...This is DEPRESSION BAD IN 9.09!!!!!!!
September 15, 2009
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SALES TAX RECEIPTS CRASHING.....HARDER AND HARDER INTO 9.09
Sales tax revenue allocated to Austin in the month of September totaled $9.8 million, down 15 percent from a year ago. So far this year, Austin has made $99 million from sales taxes, down 11.3 percent from the first nine months of September. That's the biggest year-over-year decline among the state's five major cities.
Statewide, local governments are getting $428.3 million from sales taxes this month, a 12.9 percent decline compared with a year ago.
September payments represent taxes collected in August by the state comptroller's office on sales made in July.
http://www.bizjournals.com/austin/stories/2009/09/14/daily10.html?surround=lfn
The trend is getting worse....MUCH WORSE!!!!!!!
Just as Alstry predicted...you would know by 9.09!!!!!
Sales Tax receipts DOWN 15% in Austin???? Austin is a growing and affluent town.....remember, a 10% decline in GDP is a depression.
And just like Alstry forecasted....we are now going to start to see massive municipal bankruptcies....including hospitals and schools....be patient, the parade has just begun as Benny B is telling you its over.
Downey Regional Medical Center Hospital Inc. said late Monday that it planned to file for Chapter 11 bankruptcy by the end of the day, but that the hospital and emergency room would remain open during the reorganization In a news release, the hospital said its Board of Directors unanimously approved the Chapter 11 filing after concluding that such action was in “the best long-term interests of the hospital, the community, hospital’s employees, physicians, patients, vendors, and other stakeholders.”
“Today’s necessary actions will allow us to clean up the remainder of the financial morass that the current management team inherited that was over a decade in the making, and that we have been working to fix for two years,” said Chief Executive Kenneth Strople said in a statement.
Downey Regional has 537 licensed beds and largely serves patients without any insurance or those who qualify for Medi-Cal, which pays hospitals less than private insurance. Its cash reserves ran out in March 2008, leaving the facility ill placed to respond to last year’s credit crunch.
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You can only hang on so long after the money runs out.....and the money is running out all over America.
You can doubt Alstry all you want....but in the end, the truth always bites you in the backside.
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