The Government Crash......This One is Alstry BIG
Health Care, Education, Cities, Counties and States
Oklahoma City sees an unprecedented decline in sales tax receipts
Sales Tax Receipts Show Worst Decline in Half a Century
Revenues drop in October
Government spend is about 50% of GDP....it affects everything.
Now revenues to government are evaporating at unprecedented rates........
We are just starting to see the cuts roll into health care, education, welfare, social security, and pension benefits........
Over Half of America is dependent on government spend directly or indirectly......the fallout will be UNPRECEDENTED as government was only responsible for a very small percentage of the economy going into The Great Depression.
With tax receipts crashing while running a $2 Trillion dollar deficit.....it seems like we are stuck between a rock and a hard spot....either keep spending what we don't have and destroy the dollar, or start cutting back and bring us to some sort of level ground.
With the release of the jobs report on Friday, the broadest measure of unemployment and underemployment tracked by the Labor Department has reached its highest level in decades. If statistics went back so far, the measure would almost certainly be at its highest level since the Great Depression.
In all, more than one out of every six workers — 17.5 percent — were unemployed or underemployed in October. The previous recorded high was 17.1 percent, in December 1982.
Now comes the fallout from the Government cutbacks....it could make the last crash look very mild in comparision.
Pfizer - Aiming for 30,900 Layoffs Through 2012
Teens Suffer Record Unemployment at 27.6%
Laguna Honda & San Francisco General Hospital - 600 Layoff Notices
Puerto Rico - Eliminated 2,000 Civil Service Jobs
Update: Ameren - Job Cuts Grow to 300
Regence BlueCross Blue Shield - 400
British Airlines - Post Huge Loss , 5,000 Job Cuts by Year End
Leviton Manufacturing Co. Inc - 100
Duke University - 400 so Far, More to Come?
AFTER this crash....Alstry becomes POSITIVE!!!!!!!!!!! The issue is what will America look like after things settle out?