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alstry (35.36)

How Far Will Wages Have to be CUT???

Recs

13

June 17, 2009 – Comments (3)

British Airways are asking their employees to work for free.....

And this from California this morning:

A legislative budget committee on Wednesday rejected Gov. Arnold Schwarzenegger's proposal to cut state employees' paychecks by an additional 5 percent, as part of the ongoing effort to balance a badly out-of-whack state budget....

"We're encouraged," said Jim Zamora, a spokesman for the Service Employees International Union 1000, which represents about 95,000 state workers. "We are hoping that the state will look at other options for cost savings, in part because our members have already experienced (a) pay cut through the furloughs."

Zamora's reference was to the two-days-a-month unpaid leaves the governor imposed on state workers earlier this year. The unpaid days are equivalent to a 9.3 percent pay cut.

http://www.sacbee.com/capitolandcalifornia/story/1953080.html

California has a lot of cutting to do......so do a lot of American corporations.........

How low will wages have to go to balance budgets and make our businesses competitive?

....how many will get zombulated as a result?

Prepare!!!

 

3 Comments – Post Your Own

#1) On June 17, 2009 at 9:18 AM, alstry (35.36) wrote:

THE RECESSION IS OVER!!!!

While most are debating whether the "green shoots" are real or just weeds, Liz Ann Sonders is declaring the recession over.

Yes, Charles Schwab's chief investment strategist says the recession has ended, and believes second quarter GDP could be marginally positive.

Improvements in the components of the index of leading economic indicators, as well as new orders in the ISM data, and other technical indicators provide the basis for Sonders' call.

"We look backed in history when recessions have ended and it looks very similar to the environment we're in now," she says. "You have to go through ‘less bad' on your way from ‘less bad' to ‘good.'"

http://finance.yahoo.com/tech-ticker/article/265253/The-Recession-Is-Over-Schwab's-Sonders-Says?tickers=%5EDJI,%5EGSPC,SPY,DIA,QQQQ,%5ERUT?sec=topStories&pos=9&asset=&ccode=

"You have to go through ‘less bad' on your way from ‘less bad' to ‘good.'"

?????????????????????????????????????????????????????

My feeling is there are too many people waiting for pigs to fly.....

As a pilot tries to pull up just before smashing into the ground, his rate of decent slows......but continues to decend nonetheless....until of course, the plane hits the ground......then the rate of decent stops!!!!!

If millions of workers are getting fired and tens of millions are getting wage cuts...and most of the economy is the consumer.....things are getting WORSE!!!!!!

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#2) On June 17, 2009 at 10:05 AM, carcassgrinder (35.34) wrote:

Note to self....short Schwab

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#3) On June 17, 2009 at 11:40 AM, AdirondackFund (< 20) wrote:

I agree.  The Government should work for free.  If they refuse to work for free, then fire them and let the next guy work for free.  The mere 'hope' that perhaps a paying job might be in the offing should be all the incentive necessary to sort out those who are there to loot the place and those who are there to buildup the place.  I would include CEO's in that mix as well.  

Hey ... it seems all people need to do is to listen to Alstry and then short the PHONE BOOK.  I came to Caps to make a list of major brokerage recommendations, as well as Cramer's recommendations as posted here at Caps.  After falling to <20 in Caps score with this approach, I thought I'd give Alstry a try.  So far, I've double my score in about 3 weeks by simply shorting the phone book.  Seems like this Alstry guy is on to something.  Or, maybe he's just smarter than any Brokerage, smarter than Jim Cramer, smarter than the Federal Government which has now incinerated trillions trying to keep this market and economy afloat. 

Or, it's just as simple as we have been, have always been, and will forever be lied to, by persons on TV belching out recommendations to buy stock the moment before the economy falls into the abyss.  I hope that is just stupidity and that it's not intentional.  Of course, that sort of flies in the face of reason, since all of the folks belching out these stock recommendations, over the last several years, have more degrees than a thermometer.  It would be hard to imagine they are stupid.  The facts speak otherwise.  So, I guess then it is intentional.  Welcome to our "Egghead Depression". 

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