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