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alstry (35.70)

Michigan and Ohio....spreading around America

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April 09, 2009 – Comments (4)

 

Fort Meyers, Florida......many areas in California......Arizona.....Indiana......Pennsylvania.... West Virginia.......

Soon will all of America look like Mighigan and Ohio???.....the average selling price of a home in Detroit is $5000.  Yes, that is a five with only four zeros behind it......

Jobs are being cut by the thousands everyday around the nation.....today Minneapolis based 3M announced it is cutting 11% of its US workforce....and 3M is supposedly doing relatively well.  We have read about hundreds and hundreds of LARGE companies reducing workforces by 10% and MORE....and so called experts a calling for only 10% umemployment rates as we are already approaching 9% u3 and 16% u6........how long will you Fools be fooled?????

As the lies get BIGGER and BIGGER...so will the consequences!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

How much home can an unemployed person afford??????????????????

At an ever increasing pace... American companies are outsourcing millions of American jobs overseas....now millions of Americans are unemployed and millions more will likely be fired in upcoming months as tens of thousands of restaurants and retail stores are about to shut down in addition to hundreds and hundreds of auto dealerships.

Food banks are running out of Food!!!!!!!!!!!!!!!!!!!!!!!!!

Soon there will be relatively few Americans able to pay taxes and even fewer who will be able to pay back debt.......and to add insult to injury.....banks are raising interest rates on Americans all across our country as the Federal Government hands our tax dollars to banks for free.

Once vibrant communities are becoming ghost towns as jobs evaporate and businesses shut down.  Crime is rising in these areas as unemployment skyrockets and cities are forced to cut back police patrols.

All the while...we keep being told we are at the bottom.....how long do you think the residents of many towns in Ohio and Michigan have been told they are at the bottom.  Now we know the bottom in Detroit is less than $10K per home.....what do you think the bottom will be in your town as fewer and fewer are employed as more and more lose their jobs???????

It may not be that bad in your community right now.....but the FU virus is spreading rapidly.....very rapidly!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Prepare....Don't Fear.......................FU symptoms are Near!!!!!!!!!!!!!!!!!!!!!!!!!!

Unless we restructure......prepare for further destruction!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

4 Comments – Post Your Own

#1) On April 09, 2009 at 7:45 PM, alstry (35.70) wrote:

MASSIVE MUNICIPAL LAYOFFS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Sweeping layoffs of government employees are needed to prevent New York going bankrupt, Mayor Michael Bloomberg said Thursday.

Bloomberg, who is in tense negotiations with municipal workers' unions, said an extra 7,000 jobs would have to go unless major reductions are made in employee benefits.

"We cannot continue. Our pension costs and health care costs for our employees are going to bankrupt this city," he said in comments broadcast on NY1 television.

Bloomberg, running for a third mayoral term at the end of this year, said that proposals from unions so far were "nowhere near what is adequate."

The possible job cuts, first announced Wednesday, would be on top of 1,300 already proposed and another 8,000 that could be axed through attrition.

http://rawstory.com/news/afp/Job_cuts_needed_to_stop_NY_bankrupt_04092009.html

Welcome to Alstrynomics.......

Just wait until next week........

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#2) On April 09, 2009 at 8:00 PM, DemonDoug (98.73) wrote:

Bakersfield is ground zero for fraud, overbuilding, oversupply, hyperspeculation, excess, and flat out illegal activity.  Look up "Crisp and Cole" if you want to see some of the worst of the real estate bubble.

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#3) On April 09, 2009 at 8:18 PM, alstry (35.70) wrote:

Demon,

In the end, most everything will be fraud like.....we loaned out trillions of dollars in the last eight years against inflated assets.  It is mathematically impossible to pay the debt back....

In many cases, the assets are only worth a fraction of the debt  amount and the borrower has little to nothing of savings.....

There are MASSIVE defaults ahead of us as more and more develop the FU virus.  We are seeing HUGE layoffs as revenues continue to evaporate.

We are already at 16% real umemployment and the layoffs are just beginning.  Just wait until companies are forced to shut down because they can't service debt.....

30-50% unemployment is in the bag unless we restructure debt soon.........

Interesting times indeed.

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#4) On April 09, 2009 at 8:46 PM, alstry (35.70) wrote:

GUARANTEED DISASTER!!!!!!!!!!!!!!!!!!!!

A March 30 editorial suggests that if we don’t spend all the stimulus money as Washington thinks best, we’ll be courting disaster for our state. Let me lay out why I disagree.

First, requiring our state to spend beyond its means for the next 24 months to be eligible for stimulus money guarantees that South Carolina would dig itself a $740 million financial hole.

Second, more than $8 billion of total stimulus is projected for South Carolina, and we proposed applying about 10 percent of it to paying down debt. Is that really an effort that will court disaster?

A family winning the lottery and setting something aside to pay down the mortgage would be viewed as prudent. Why should it be different for our state, particularly if we are fourth in the nation in the percentage of our budget that goes not to teachers or health care, but to debt repayment?

Finally, spending all this money relieves the political pressure to make reforms essential to South Carolina’s competitiveness in the global economy.

Simply accepting Washington’s well-intended but ill-designed stimulus efforts for South Carolina would indeed move us from courting disaster to guaranteeing it.

Mark Sanford
Governor
Columbia, S.C., March 31, 2009

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