Is Alstry Motley Fool's Fool
To give you a different perspective than my own and somewhat of an institutional insider's view..... I spent some time with a Mutual Fund manager who manages a Growth Fund of a major well known brand. His perspective on the world is very different than mine and I thought I would summarize simply to give an altnernative view. He is fairly optimistic about the current Fed policies and is focusing on Large International Companies with strong brand names and solid growth prospects....companies like Phillip Morris. He thinks the worst is behind us and although we may see some bumps.....things look generally favorable to him for the future.
Needless to say, I told him I thought he was cracked and it was my belief we are facing the most challenging economic times in our history....much more challenging than the issues that confronted America during The Great Depression. I expressed my concerns about the quality of accounting of public companies, HFT, collusion between the ratings agencies and Wall Street, Credit Default Swaps, evaporating revenues and tax receipts, rising unemployment and massive bankruptcies ahead.
Basically I told him that America is shutting down and it should not be too long before much of America resembles Detroit.
So there you have it, a really successful guy who sees green shoots and a Fool who thinks we are simply shooting blanks. I think the evidence far favors the Fool.
PERU, Ind. -- A company that makes sensors for the steel industry plans to close a manufacturing plant in northern Indiana by the end of this year, a move that will eliminate nearly 80 jobs.
Heraeus Electro-Nite Co. has notified employees at the Peru plant of the shutdown, saying it was unavoidable because of decreased demand for its devices that monitor and control molten metal processes.
Windstream said today it will lay off 280 to 290 employees, or nearly 60 percent, of D&E's 500 employees across central and eastern Pennsylvania.
Most of those cuts will occur in Lancaster County, where D&E has its biggest concentration of workers.
Retailer Barnes and Noble is closing all 50 of its B Dalton book stores. Barnes and Noble Senior Vice President of Corporate Communications Mary Ellen Keating tells us that on Wednesday, managers of the B Daltons were told that their stores would be phased out by the end January.
http://www.wsjm.com/Orchards-Mall-B-Dalton-Store-Closing/5398049Mass. facing $600M budget gap; may force more cuts
Boston Globe - 9 hours ago Budget Cuts Harm Public Safety, Unions Say
TMJ4 Milwaukee - 2 hours ago Milwaukee police and firefighters to rally against city budget cuts
From Alstry's perspective....America is shutting down and unless we restructure debt......we will continue to see our Economy deteriorate until much of America will long for the day where it could resemble present day Detroit.
It ain't complicated...the banks are cutting off credit to America.......and America is dependent on credit to function......now that government is the only one really borrowing.......just wait until credit is cut off to government.............that will be the Ultimate Zombulation.