Use access key #2 to skip to page content.

alstry (35.96)

The Biggest Lie Since Global Warming

Recs

15

November 24, 2009 – Comments (1)

No...Not 911 You Conspiracy Theory Fools

It is The Fed and "Economists" forecasting or sugggesting growth in the American economy

Let's list all the areas where there is KNOWN contraction:

TECHNOLOGY....Most tech companies reported negative y/y sales comparisons including HPQ tonight

AUTOS

NEW HOME CONSTRUCTION

COMMERCIAL CONSTRUCTION

MANUFACTURING

HOTELS

Bjorn Hanson, a clinical associate professor at the Tisch Center, said that average domestic hotel occupancy this year would be about 55 percent.

Average national occupancy has dipped below 60 percent only twice before since the 1920s, he said, during the Great Depression, and in the aftermath of the 2001 terrorist attacks.

The occupancy dip following the 9/11 attacks was barely below 60%, so, according to Hanson's comments, the current hotel recession is the worst since the Great Depression.(calculatedriskblog.com)

RESTAURANTS

The number of people visiting restaurants has plunged for four consecutive quarters, according to NPD Group, a market research firm. ... chains such as McCormick & Schmick's, the seafood house, and Morton's, the steak purveyor, saw same-store sales, or sales at restaurants open at least a year, fall 18.8% and 16.8%, respectively ... according to Bellwether Food Group, a food industry consulting firm.
Research firm NPD doesn't expect an industry turnaround any time soon. ... In 33 years of tracking restaurant traffic, NPD "has never seen this type of a weakness for this long of a period," [Bonnie Riggs, a restaurant industry analyst with NPD in Chicago] said ...(calculatedriskblog.com)

AIRLINES

CONSUMER AND CORPORATE LENDING

SALES TAX RECEIPTS

INDIVIDUAL AND CORPORATE INCOME TAX RECEIPTS

TRUCKING REVENUES

RAILROAD SHIPMENTS

AND LOTS LOTS MORE.......

Unless the economists are applying Military Keynsianism and forecasting a massive military build.....which seems very possible at this juncture, it seems impossible that any rational person could forecast growth...especially in light of the dramatic cuts in bank credit and massive cuts to government, education and health care already announced and likely to be announced in coming weeks.

When you incentivize banks to hoard cash and speculate on financial instruments with guaranteed taxpayer protection, a zombulator is formed and it will suck the life out of the real economy by extracting most of the money out of the system diverting funds that would otherwise be necessary to sustain the private economy.

Now we are feeling the effects with company after company laying off workers, slashing wages, or simply shutting down completely.

1 Comments – Post Your Own

#1) On November 24, 2009 at 9:50 AM, drgroup (69.20) wrote:

alstry... nice piece of work. There does not seem to be any relief in site. What are three actions that you would implement  to help change the present course of destruction our grear country is on?

Report this comment

Featured Broker Partners


Advertisement