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alstry (35.42)

MOAP #2....Historicially Few are Hiring in America as Revenues Evaporate

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September 16, 2009 – Comments (10)

Since credit is being cut off and interest are being raised by the bailed out bankers, our credit dependent consumer economy collapsing all around us.  Since the consumer is the primary driver of our economy, by cutting off the consumer to credit and income, savings are being depleted.  Our nation is shutting down as revenues and tax receipts contract at a pace NEVER before seen in our nation's history.

When few are making money....few are paying taxes.

OKLAHOMA CITY -- Oklahoma financial officials ordered Tuesday another 5 percent across-the-board cut in budget allocations to state agencies after state Treasurer Scott Meacham said tax revenue fell by more than 31 percent in August -- the eighth consecutive monthly decline in collections.

Preliminary reports show General Revenue Fund collections last month totaled $335.2 million. That is $154.9 million, or 31.6 percent, below collections in August 2008 and $131.3 million, or 28.2 percent, below the estimate.

For the first two months of the fiscal year, collections total $672 million, Meacham said. That is $275.3 million, or 29.1 percent, below the prior year and $209.7 million, or 23.8 percent, below the estimate.

THE TREND IS GETTING WORSE!!!!

Despite collapsing revenues, evaporating profits, massive losses....the stock market is manging to rise.  The problem now is when workers get fired, very few are getting hired.  The American infastructure is not geared to an economic based with declining wages and high unemployment and a low consumption population.

We have lots of real estate, high taxes, high health care costs....all of this needs lots of revenues to function.....and revenues are evaporating...VERY QUICKLY NOW... as few are getting hired.  Our entire economic system is in jeopordy of collapsing unless we restructure soon.

If you don't believe Alstry....here is a bit of evidence...THERE IS A LOT MORE HERE.. http://www.dailyjobcuts.com/ :

The Village of Paw Paw - 2

Hinds County - 48

Update : Neosho MO - 9

City of East Brewton - Budget Cuts Forces Layoffs

Mercedes-Benz Alabama - 200

Department of Education Local 372 Members - 750 Possible layoffs 

Department of Children and Family in Ma - 100

City of Derby ( International ) - 465 over next three years

The Washington Workforce Sheds - 8,000 Jobs in August 

City of Rockford Begins Layoffs - 30 +

Onondaga County - Possible 163 Job Cuts for 2010 Budget

The Kentucky Administrative Office of Courts - 47

City of Denver - Besides Layoffs, 600 Positions to Stay Unfilled

Cooper Wiring Devices in Brunswick to close within a year

The Metro Grocery Store in Parry Sound Mall

Naked Kingfish Restaurant in NC 

Anderson Inc to close Lima Ohio Store in Nov.

Jim Moore Cadillac 

The County Buffet in Oneonta 

El Paso Grill & Bar-B-Que in Farmington 

Sukons Kids Furniture 

Palmer Ford Dealership

R.J. Gator's Florida Sea Grill & Bar

Oracle State Park closed to Public - 30 layoffs 

Neely's Wholesale Supply Inc

MEMC to close O'Fallon Plant By June 2010 - 240 Layoffs Resulting

Borders ( International ) Closing its Books Etc Store

Driver Licensing Office in Tacoma closing

Baltimore-Washington Airport Communication Center closing - 8 layoffs

Dollar / Thrifty to close more locations 

VodaFone to Reduced Exchanges from 48 to 2

Gladys Young Closing Car Dealership 

Corsicana Window Factory closing by Sept 25

10 Comments – Post Your Own

#1) On September 16, 2009 at 3:22 PM, jason2713 (< 20) wrote:

Doesn't matter, market doesn't care.

hope you're in man...cuz im not, and haven't been for over a month now.

Ah well too bad.

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#2) On September 16, 2009 at 6:03 PM, alstry (35.42) wrote:

More than 1 billion hungry as food aid hits record low

When people have no jobs, no credit and run out of savings...they depend on others to eat.

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#3) On September 16, 2009 at 6:07 PM, alstry (35.42) wrote:

IF THE GOVERNMENT IS NOT SPENDING, AND THE CONSUMER IS TAPPED OUT...WE HAVE NO ECONOMY....

Sept. 16 (Bloomberg) -- Chrysler Group LLC, the U.S. automaker run by Fiat SpA, said nationwide industry sales are off 19 percent so far this month after a government purchase- incentive program ended.

“We are going to see harsh reality in September,” Sergio Marchionne, the chief executive officer of Fiat and Chrysler, said at the Frankfurt Motor Show. He described the U.S. industry results as a “disaster.” Fritz Henderson, CEO of General Motors Co., said the market is “very weak” this month.

THE GOVERNMENT IS RUNNING OUT OF MONEY

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#4) On September 16, 2009 at 9:43 PM, alstry (35.42) wrote:

LOOKS LIKE LOTS MORE CUTTING IN MARYLAND AS REVENUES KEEP SHRINKING AND SHRINKING AND SHRINKING...

Gov. Martin O'Malley said today that he may need to order as much as $300 million worth of additional budget cuts in the current fiscal year, on top of $735 million in reductions that were approved in recent weeks. State officials will know the full extent of the writedown when a board that forecasts revenue collections releases its latest report Thursday.

ANY THOUGHTS WHAT THE NUMBERS MIGHT LOOK LIKE TOMORROW???

 

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#5) On September 17, 2009 at 11:55 AM, cudakhan (< 20) wrote:

I thought the Dow was going to be a 4500?  Although the economic outlook is still dire, you seemed to have missed the mark on this. 

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#6) On September 17, 2009 at 1:50 PM, ipfmanager (95.59) wrote:

I'd rather just look at the unemployment index rather than spending the day reading about 10 jobs at a time.  I know what your going to say- the unemployment report skews the #'s not to reflect disenfrachised workers- people who stop looking for work.  I say balogna.  Most of those people won't go back to work anyway as they are forced into early retirement as our baby boomers grow in age. Many who know they are retiring ASK to be fired to get the unemployment.

 

Regardless, this is a lagging indicator.   You should be picking your spots a little better these days, since your score and clout are waining a bit.

 

Good luck!

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#7) On September 17, 2009 at 2:36 PM, bcchamp (32.62) wrote:

is alstry ok-not a single post today

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#8) On September 17, 2009 at 3:07 PM, mawnck (< 20) wrote:

Oh, great. He's been raptured, and we're left behind.

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#9) On September 17, 2009 at 3:10 PM, jason2713 (< 20) wrote:

550,000 more jobs lost.

The numbers don't lie, its not getting any better, and hiring is at a all time low.

Lagging?  It's not even dropping below 500,000 and is still roughly 2x the normal unemployment totals for a normal economy.  Have you forgotten about this?

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#10) On September 17, 2009 at 8:44 PM, blueberrygoo (74.06) wrote:

Now dig, I have heard from some other people smarter than me (or so they think) that the breakpoint on unemployment is 400k.  So if unemployment reports are greater than 400k then we have things getting worse in the economy.  If less than 400k we have things getting better.  Not sure when things are just staying the same which is what I believe.  Things are not better or worse right now.  To me we are just sitting in the new reality.  No one wants to believe that.  Well, at least the people on TV that is.

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