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alstry (35.96)

When Will Fools Have Enough????

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January 09, 2010 – Comments (2)

Last year, over 20,000,000 Americans lost their jobs and applied for unemployment benefits.

Millions of independent contractors, especially in the construction industry, also lost jobs/income but were never counted.

Tens of millions of additional Americans saw their incomes reduced materially....many forced to work part time.

AND THE ONLY REASON THE GOVERNMENT IS REPORTING ONLY A 10% UNEMPLOYMENT RATE IS BECAUSE IT IS REDUCING THE LABOR FORCE EVEN THOUGH THE POPULATION IS GROWING.

Evidencing the above is the largest drop in government tax receipts in American history even though the government incurred a $1.4 trillion dollar deficit driving massive taxes to government.

CRAZY ISN'T IT......THE ONLY THING KEEPING OUR ECONOMY AFLOAT IS GOVERNMENT RUNNING A DEFICIT THE CITIZENS CAN'T AFFORD.......as the citizens lose their jobs, homes and and politicians are bailing out the bankers for cutting off credit to the nation destroying our private economy and the incomes of private citizens??????

People are finally waking up and figuring out they have been had.......maybe it took enough distress and pain to see how ridiculous it is to bail out the bankers that drove American into insolvency and punish the citizens.

It is getting very clear that a division is developing between private America and government/bankers......as the division gets wider, frustration and anger will drive increasing tension within America.

The question is whether the private economy has a chance to recover or has it and the nation been infected with so much debt that it is basically insolvent and inneffective to compete against the unlimited free money being given to Wall Street?

As the private economy employs over 2/3 of America.....we are well on our way to lose many more jobs this year than we lost last year......and we are starting the year with over 17% unemployment applying the BLS' own numbers.

Until we bring debt levels in line with decreased revenue levels as a result of bankers cutting off credit.............our nation will continue to shut down......until there is not much left to close.

 

2 Comments – Post Your Own

#1) On January 09, 2010 at 8:53 PM, BillyTG (29.12) wrote:

Amen. Our country is led by morons trying to appease other morons. People are saying capigtalism doesn't work...maybe that's because our elected "leaders" ARE NOT LETTING IT WORK!!! Let the banks fail, let the country go into a depression. Why do so few people understand that these corrections are capitalistic necessities to rid the economy of weak business? Why are we bailing out the worst performing banks? Why do Warren Buffet and Eddie Lampert talk about how the bailouts have given their crummy competitors a leg up in terms of loan rates? These CEOs of Sears and Berkshire can't get as good of rates as the companies that should have failed, but are now backed by the "stimulus" spending? Capitalism is broken??? Please...it's the government that's broken, and the Constitution that is being broken regularly. Solution: there is none. This is a one-way road the country has been on for several years, if not decades, and there's no reversing the momentum. Save yourselves and invest wisely. Get OUT of the US stock market. Happy to see another person that "gets it."

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#2) On January 09, 2010 at 9:26 PM, alstry (35.96) wrote:

AFTER ENOUGH SHUT DOWN...WE ALL WILL

International Game Technology is closing its Corvallis office on the Hewlett-Packard campus. The move will mean the loss of 57 local jobs, mostly software engineers and information technology professionals.

Twenty-five employees, or about 20 percent of the nonunion work force at Makaha Resort & Golf Club, were laid off yesterday, with hotel ownership citing the downturned economy.

ALBANY, GA (WALB) –  Some long-time Albany restaurants have closed, in part because of the economy.

Naperville has eliminated 49 positions - including 27 that were vacant - as part of an effort to reduce projected budget deficits, officials announced Friday.....When combined with the 43 positions eliminated last January, the city has reduced its work force by 10 percent at an annual savings of nearly $7 million..... Even with all that, Krieger said the city still has a $1 million hole in its budget...

AND THE HOLE WILL INEVITABLY GET BIGGER AS TAX RECEIPTS CONTINUE TO DECLINE....AND OUR POLITICANS BAIL OUT THE BANKERS????????

GET READY FOR MORE AND MORE AND MORE CUTS....

The head of New Hampshire's Department of Health and Human Services said Thursday he will present a plan to cut $38 million from his budget to the governor and lawmakers within 10 days.

Droves of Oshkosh residents spoke out Wednesday against school district plans to cut up to $5 million from its budget, many urging the board to raise taxes before closing schools or laying off teachers.

CHARLESTON, W.Va. -- Chief Justice Robin Davis has announced that the West Virginia Supreme Court has voted to cut an additional $2 million out of the current fiscal year budget to help reduce state expenditures. The court previously reduced its 2010 appro...

HUBBARD, Ohio- Hubbard officials will meet Thursday to try and find solutions for the city's budget deficit. Treasurer Marsha Ruha said tax collections have fallen while expenses have risen, making it necessary for the city to cut about $1 million from the budget.

PLYMOUTH -- Because of state budget cuts in education, the superintendent of Plymouth Community Schools says the district will need to cut nearly $1 million from its budget.

OSHKOSH The state is considering requiring assistant district attorneys throughout the state to take additional time off or forcing prosecutors offices to cut positions in an effort to address a state budget shortfall.

Already coping with two consecutive rounds of state budget cuts, area universities and colleges are responding to a midyear budget cut of about $7 million using measures including freezing open positions, restricting travel and postponing equipment purchases.

IF YOU SIT BACK AND DO NOTHING.....IT IS JUST A MATTER OF TIME BEFORE IT IS YOU.....WHEN YOU CUT OFF CREDIT TO A CREDIT DEPENDENT ECONOMY AND FAIL TO RESTRUCTURE THE COST....PRETTY SOON EVERYTHING SHUTS DOWN.

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