The World As You Know It.....Ending
Since Alstry started Blogging:
New Construction DOWN Over 80%
Auto Sales DOWN 50%
Tens of Millions Out of Work and/or suffered Massive Wage Cuts
Commercial Real Estate Values DOWN 50%
Government Deficit grew from a few hundred billion to $2 Trillion
FDIC, FHA, FNM, Pension Guaranty, 40/50 State Unemployment Funds.....All Broke
Cities, Counties, and States facing unprecedented financial crisis
Bankruptcies, Personal and Business, Skyrocketing
Dollar Crashed OVER 20%
Fools.....this is not a recession, it is a Massive Depression being masked by an UNSUSTAINABLE and growing deficit
When you give bankers unlimited money for free and bankers then raise interest rates and tighten credit, it becomes impossible to compete against such a low hurdle rate, and the private economy shuts down.....and when the private economy shuts down, tax receipts evaporate and we become a Zombulated Nation.
We are losing about half a million jobs per week and very few are hiring......at this pace we will have massive and unprecedented unemployment by mid summer......
The problem is, unlike The Great Depression, our nation is not structured for massive unemployment....our medicare system, our social security system, our tax system, our massive retail and office structure, our high property tax structure, our expensive health care system etc......
Again, it is not the end of the world.....simply the end of a world as you know it.
If we are not building, selling cars, and real estate is crashing.....the rest of America's economy as we know it will implode.
Welcome to Zombulation Nation....it has arrived 1.01.10....our economy as we know it is imploding.
When few have anything to do or much money......the only thing left is fight for what you need.....unless a new policy is initiated.