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alstry (35.70)

No U.S. Economy Without Consumers

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September 22, 2009 – Comments (6)

You mathematically cannot sustain a leveraged consumer econoomy without consumers.  Over 80% of Americans work in the consumer economy or government supported by consumers paying taxes.

If you kill the consumer, you kill jobs.....and if you kill enough jobs, you kill the economy.  In the last ten years, our consumer economy was fueled by the excessive extention of credit by the banking system.  Now, only few have acesss to credit and the consumer economy is collapsing.

Look around, how many of your friends and neighbors are employed by the consumer economy?  It is not the end of the world, simply the end of the world as you know it.

(RTTNews) -  Tuesday, Tenneco Inc. (TEN: News ) said that it will close its original equipment, or OE, ride control plant in Cozad, Nebraska, as part of its ongoing restructuring of its operations. The planned closure will affect 460 hourly and 40 salaried workers at the plant, and the impacted employees will receive transitional assistance.

MONTPELIER – Between 200 and 300 state employees may now lose their jobs after state labor negotiations failed Monday, a result that both union and administration officials say will inevitably impact government services.

The layoffs and shutdowns are happening all across America....day after day more and more.  Few are hiring and even more are getting wages slashed.  Primarily those with acess to credit are surviving and those that work for or support government.

With over 2/3 of American retirees primarily dependent on social security to survive, we are facing massive shortfalls as fewer and fewer are paying social security taxes due to jobs loss or evaporating incomes.

Declining Social Security revenues is not just a mess Fools....this is a 9.09 catastrophe....regardless what the stock market is trading at today.

At some point, if the current policies remain in place...government will be forced to tax Americans 100% of income AND assets simply to meet growing spending obligations.  This is not conjecture, simply extrapolation of the current math of declining revenues and taxes and higher spend obligations.

 

6 Comments – Post Your Own

#1) On September 22, 2009 at 10:31 AM, alstry (35.70) wrote:

WORSE CAN ONLY BE BETTER THAN EXPECTED FOR SO LONG BEFORE EXPECTATIONS ARE ZERO AND THE ECONOMY IS DEAD!!!!!

CHICAGO-- Carnival Corp. said Tuesday that its third-quarter profit fell nearly 20 percent, but the results were still better than expected as fuel prices fell and more travelers booked cruises.

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#2) On September 22, 2009 at 10:33 AM, alstry (35.70) wrote:

MORE TRAVELLERS??????????????

For the three months that ended Aug. 31, the Miami-based company earned $1.07 billion, or $1.33 share. That's down 19.5 percent from $1.33 billion, or $1.65 per share, in last year's third quarter.

Revenue fell 14 percent to $4.14 billion from $4.81 billion last year.

COULD YOU IMAGINE HOW GOOD THINGS WOULD BE IF WALL STREET ONLY EXPECTED $2 BILLION IN SALES???

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#3) On September 22, 2009 at 10:50 AM, alstry (35.70) wrote:

CONSUMERS GETTING SLAUGHTERED ACROSS AMERICA!!!

NEWINGTON — A decline in business resulted in a "significant" number of layoffs at the Tyco Telecommunications plant last Friday, according to a company spokesman.

Mike Ratcliff, communications manager for Tyco, declined to release the number of employees who were released. He said the facility, which manufactures undersea cable and electronics equipment, will remain open.

"Basically, it was business downturn we've experienced across many aspect of business in the current global economic situation," said Ratcliff. "We've had to reduce our work force at many sites across the world. It's a result of less workload, unfortunately."

THE DEPRESSION IS ONLY BEGINNING WHEN YOU KILL ALL THE CONSUMERS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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#4) On September 22, 2009 at 2:54 PM, alstry (35.70) wrote:

IT JUST GROWS AND GROWS AND GROWS 

About 400 Premium Protein Products workers will remain on unpaid furloughs for at least another two weeks.

Workers received word of the latest furlough extensions via a recorded phone message on Tuesday.

The employees of the company's plants in Hastings and Lincoln have been out of work since the furloughs began in June.

UNIVERSITIES ARE GETTING HIT HARD!!!!!!!!!!!!!!!

GREENSBORO — When UNCG released its new list of prospective layoffs last week, it wasn’t the number that was shocking.

The surprise was how many of the eliminated positions began with “director,” “associate provost” or “assistant vice chancellor.”

UNC President Erskine Bowles this summer asked the system’s 16 campuses to cut their budgets by 10 percent, reflecting less state support. Legislators made it clear they wanted the bulk of those cuts to come from middle management and administration. At UNCG, that will mean dozens of directors, managers and other administrators following low-level assistant and adjunct professors out the door.

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#5) On September 22, 2009 at 3:53 PM, alstry (35.70) wrote:

Zombulation simply will keep accelerating as money dries up.

United Airlines furloughs 290 pilots

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#6) On September 22, 2009 at 4:12 PM, alstry (35.70) wrote:

The contraction will slow and slow and slow.

Miss. casino revenue falls 9 percent in August

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