IT'S OFFICIAL: WE ARE IN A DEPRESSION!!!!!!
July 17, 2009
– Comments (21)
Alstry was waiting for GE's earnings report before making the call....and now with a 17% decline in revenues, it is confirmed we are now in a DEPRESSION as defined as a 10% declined in GDP from peak to trough.
New home starts also supports the thesis as new home builders have morphed away from building more expensive homes to less expensive homes, so from a revenue standpoint, a builder must build 5 $150K homes to equal one $750K home......and practically every builder is scaling way back....way way back on the size of home built.
Preactically every industry in America is reporting massive revenues declines over the past year or two.
Imports down over 25%
Exports down over 25%
Autos down 50%
New Houses down over 80%
Technology down over 20%
Transportation down over 20%
Hotel revenues down over 20%
Airline revenues down over 20%
Retail down double digits
Home prices crashing
Commerical real estate prices crashing
Bankruptcies going parabolic
Foreclosures at record highs
Tax Receipts over 20%
It is a crazy time in our nations history, banks that would be bankrupt but for a citizen bailout are foreclosing on bankrupt citizens homes and raising their credit card fees. While citizens are losing their jobs by the millions and suffering paycuts by the tens of millions, otherwise insolvent banks are giving their executives massive bonuses......for what????
Infecting our nation with a debt burden that can never be paid back......
As the economy continues to slow, as is mathematically certain under current Zombulation policies, a greater and greater percentage of our economy will simply go to make interest payments......and there will be very little left for goods and services.
This cycle will also apply to government forcing government to raise the taxes on those few citizens left who can afford to pay taxes.
Further, the increased interest payments the banks receive will simply go to pay their huge bonuses and offset the continuing failure of the destructive debt they created for the past ten years.
There is no way to avoid this cycle under the current policies.....we are already in a depression and it is about to get much worse. State workers are being forced to work without pay. University workers are being furloughed. All of this is fine, but for the fact that bankers who would otherwise be insolvent are receiving massive bonuses as the rest of the nation rots....
and under the current policies, the rotting will accellerate as the bankers get rich.....that is guaranteed.
It is time to destroy the Zombulator.....audit the Fed!!!!!!!!!!!!!!!!!!!!!!!!!
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