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alstry (36.24)

When Worse Is Better Than Expected

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September 16, 2009 – Comments (6)

For the past few years, we have been seeing declining performance but have been told it was better than expected.  As things get worse, more will shut down...but it will be better than expected.  Until there is nothing left to shut down, but it will be better than expected.

Gladys Young, a revered local figure who helped create the Escondido Auto Park in the early 1980s, will close her Cadillac, Pontiac and Buick dealership this month after 39 years in business.

Young's is the second new car dealership in Escondido to close since the recession began, following Witt Lincoln-Mercury last October. In addition, eight of the city's two dozen used car dealerships have closed.

http://www.nctimes.com/news/local/escondido/article_d8d239ff-8502-5b0f-811f-0308e6cab9b4.html

Pay attention to declining tax receipts....they will continue to decline....but will be better than expected.

The auto park dramatically boosted the city's sales tax. In recent years, it has typically covered about $20 million of the city's $80 million budget, helping to pay for police, firefighters, parks and other city services.

And when the tax receipts decline...millions of jobs will be lost and pay cut....but it will be better than expected....unless we stop zombulation soon and restructure.

Onondaga County - Possible 163 Job Cuts for 2010 Budget

The Kentucky Administrative Office of Courts - 47

City of Denver - Besides Layoffs, 600 Positions to Stay Unfilled

State of Penn. - Possible more Layoffs than the 315 that occurred in August

As more and more lose incomes, credit and savings....business will continue to slow....but it will be better than expected.

The average price of a hotel room in the U.S. fell 17 percent, year-over-year, in the first six months of 2009, according to the latest Hotels.com Hotel Price Index.

The average room rate in the U.S. cost, on average, $115 a night in the first half of the year, down from $139 in 2008.

"This is, by far, the most significant change in prices we've seen since we created the Hotel Price Index,” Hotels.com President David Roche said in a news release. “Americans' travel dollars have never gone farther than in 2009.”

As hotels shut down due to declining revenues, expect many other businesses to shut down as well....but it will be better than expected.

Since October 1, 2008, approximately 115 corporate-owned locations of the Dollar Rent A Car and Thrifty Car Rental brands have been closed in the US and Canada. In addition, there are approximately 10 additional locations to be closed during the remainder of 2009 as the underlying leases at those locations expire.

Jeld-Wen officials have confirmed the company is closing the Corsicana window factory by Sept. 25, putting about 90 full-time employees out of work. The workers learned of the closure on Monday.

Hale's had been in business for 154 years, but Tuesday marked the end. They closed their doors at 5:00 pm.  The owner of Hale's said the economic downturn was the beginning of the end for Hale's. Ancient photographs underscore the historic importance and scope of the store, which was the oldest family-owned department store in Michigan.

None of this is the end of the world nor is it doom and gloom....simply Benny B's policy of destroying our consumption economy in America and switching to a savings economy as we bail out Wall Street.....and after 50% of the population loses their jobs, I am sure most will say.....it was better than expected.

6 Comments – Post Your Own

#1) On September 16, 2009 at 5:09 AM, alstry (36.24) wrote:

 

U.K. jobless claims see August rise

British shares hit fresh annual high

YUP...better than expected as they keep telling you its OK for everyone to get fired.

Yet there is a flip side to the lack of churn. Instead of doing lots of firing and some hiring, many companies have done only some firing and virtually no hiring, the statistics show. And that isn’t all bad.

http://www.nytimes.com/2009/09/16/business/economy/16leonhardt.html?hp

But now that companies are starting to do lots of firings again and virtually no hiring, what do you think they are going to say?

Better than expected.

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#2) On September 16, 2009 at 5:20 AM, alstry (36.24) wrote:

USD Falls To Fresh 7 Month Low Under Y90.18 - EBS

As tax revenues keep declining and deficits grow larger and larger, more and more will look at the dollar as simply a counterfeit currency as Benny B keeps printing more against declining tax receipts.

As wages will be constrained and prices skyrocketing, fewer and fewer will be able to afford to buy much and business will slow to a trickle.....but that is just fine....it will be better than expected.

S&P 500 futures up 3.90 at 1,049.80

Until one day we will not have much business, not much consumption and not much government....but at least the futures will be up as it will be better than expected.

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#3) On September 16, 2009 at 5:54 AM, alstry (36.24) wrote:

As Benny B and his banker buddies are cutting off credit and raising interest rates on a credit dependent consumer economy, we will not be consuming much.....as fewer and fewer are spending revenues will shrink more and more...as incomes evaporate many will be unemployed or suffer wage cuts and fewer and fewer can meet monthly obligations...

Bank of America said write-offs rose to 14.54 percent ... That compares with 13.81 percent in July ...

Citigroup’s soured loans rose to 12.14 percent last month, from 10.03 percent, while JPMorgan said write-offs advanced to 8.73 percent from 7.92 percent in July ...


Discover Financial Services ... said charge-offs rose to 9.16 percent from 8.43 percent in July. ...

But it's OK because Benny will bail out Wall Street and let the citizens suffer...after all, that is better than expected as Benny keeps printing and the dollar buy less and less.

As more and more age, those on fixed incomes will barely make ends meet and poverty will skyrocket.

The official poverty rate for Americans 65 years and older has stood for years at 10 percent, the lowest rate among age groups. But the true rate could be nearly twice that high, according to a revised formula created by the National Academy of Sciences that is gaining favor among public officials, including some in the Obama administration.

After much of America is living in poverty due to limited income with skyrocketing prices, Benny B and his banker buddies will step up to the podium and tell you on TV...It is better then expected as they told you today the Recession is OVER!!!!

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#4) On September 16, 2009 at 7:55 AM, alstry (36.24) wrote:

IT IS ALL BETTER THAN EXPECTED...

Better than expected is what happens when you bail out the banks and cut off credit to the citizens....pretty soon the banks have everything and the citizens starve....

Number of hungry people will pass 1B for 1st time in '09

Unemployment in industrial world to hit new high

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#5) On September 16, 2009 at 9:40 AM, jason2713 (< 20) wrote:

I think the key and underlying fact and number is TAX RECEIPTS.  If corporations and businesses were really doing fine and the recovery has started, tax receipts would not be DECLINING, but getting better.

This the true stat and tell the tale of the true state of the economy.  Can't fudge these numbers!!!  You can only hide this for so long.

Yet the market chugs chugs chugs along.  10,000 here we come. 

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#6) On September 16, 2009 at 9:50 AM, alstry (36.24) wrote:

jas,

The key to any good Ponzi Scheme is confidence....that is why it is called a Con Game.

Right now, as evidenced by the rising price of gold and the falling dollar, trust is breaking down in the dollar.

If America's dollar collapses....Americans starve because we are dependent on imports to survive.  Our government must now deal with a collapsing dollar as the world is dumping like crazy.

I am sure there are very high level discussions being talked about on how to deal with this issue, economic collapse, war, pandemic, terrorist attack...who knows???.......it will be interesting and whatever the result, it will be MOAP....mother of all projections.

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