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alstry (35.42)

Why You KNOW We Are Hosed in 9.09....

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September 28, 2009 – Comments (13)

Practically every American's income and wealth depends on other Americans working and consuming from EACH OTHER.....we really don't export very much like Japan and simply produce and service for each other all day long.

What few realize is that most of our consumption over the past few years was simply from the private economy borrowing trillions of dollars each year and consuming lots and lots of stuff driving sales and revenues everywhere.

During that period, through credit default swaps, bankers were making bets that we would default after their buddy Allen G raised interest 17X......and just to make sure it was mathematically certain we would crash.....they tightend credit to confirm revenues simply evaporated.

AND HAVE REVENUES EVAPORATED...EXCEPT FOR THE SAVING GRACE OF OBAMA BORROWING $2 TRILLION DOLLARS THAT DOESN'T EXIST AND NO ONE CAN AFFORD TO FUND WITHOUT COUNTERFEITING CURRENCY.

As a result, many have had to resort to tapping into savings to survive to make up for the decline in income and revenues.  But now the savings is running out and banks are not lending.  We are now seeing massive layoffs and shutdown all across America.  Government, Hospitals, Schools have joined the million of businesses cutting back.  Many of the layoffs announced earlier in the year are being implemented NOW!!!!!

The first wave of what could total 2,600 job cuts is scheduled for this week, but a state employees union is hoping for more time to work something out. AFSCME took the state to court, filing for a temporary restraining order in Johnson County in southern Illinois. That's where the Vienna prison is located and some of the proposed layoffs would affect that facility.

And the cuts are not limited to any geographical region...they are everywhere and no local, county or state government is being spared from the fallout of Zombulation.

King County Braces for Major Cuts


We are now laying off Millions and Millions of workers and cutting the wages of tens of millions of additional people through furloughs, wage cuts, and revenue declines for independent contractors.  Revenues to Social Security will not just decline....it will evaporate as the burdens on Social Security will increase with an aging population.

We are not talking about years down the road...we are talking about now.  And with 2/3 of retirees primarily dependent on Social Security income for living expenses.....we have a MASSIVE MESS on our hands.

Again, this is not the end of the world...just the end of the world as you know it.

13 Comments – Post Your Own

#1) On September 28, 2009 at 11:25 AM, ChannelDunlap (< 20) wrote:

3 days and counting till MOAFP.  Do you have your party hat yet? 

Apparently some areas are being spared... HELENA - The state ended the budget year in mid-2009 with a preliminary general fund surplus of $392 million, nearly $23 million more than the Legislature had projected, a legislative fiscal analyst told a committee Thursday.  Monana is doing fine, it would seem.

Whoops, I slipped into providing meaningful content for a moment there.  Let me get back on track.

MOAFP HERE!  Get your MOAFP commemorative blog comments! Relax on 10.09 with the Mother of all MOAFPS!  10.09! 10.09! 10.09!

Are you ready?!

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#2) On September 28, 2009 at 11:25 AM, alstry (35.42) wrote:

EXPECT LOTS MORE BANKRUPTCIES AT END OF Q3...

Holley Performance, a supplier of high-performance products to professional racers and street car enthusiasts, has filed again for Chapter 11 bankruptcy protection.

FairPoint Communications Inc. (FRP) is in talks with its lenders about restructuring its debt, a deal which could lead to a bankruptcy filing, as it announced $42 million in interest and other payments may not be made Wednesday.

HURRY UP AND GO BUY DRUG STOCKS BEFORE THE HOSPITALS GO BANRUPT AND MONEY RUNS OUT

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#3) On September 28, 2009 at 11:35 AM, alstry (35.42) wrote:

Actually, HELENA is very tight right now and the numbers you cite are only through April....things have gone really downhill since then....

The reversions helped make up for tax collections for the year that came in at $36.6 million less than the Legislature had anticipated.

These lower tax collections were on top of the $290 million that legislators reduced the official revenue estimates by from their November 2008 estimates. These in-session adjustments came as income and corporate revenue collections tailed off.

Johnson said the final numbers showed $23.9 million in some revenue collections greater than anticipated. The top one was the corporate income tax, which was $9.1 million more than projected.

However, some other revenue sources came in $60.5 million less than expected. The biggest one was individual income taxes, which was $37.5 below estimates.

WELCOME TO "REVERSION" TO THE MEAN IN 9.09

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#4) On September 28, 2009 at 11:48 AM, ChannelDunlap (< 20) wrote:

Is that all 9.09 is now?  "Reversion to the mean"?  What happened to Dow 4000 and 100% taxes and 50% unemployment? 

Smells like MOAFP to me.

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#5) On September 28, 2009 at 12:14 PM, alstry (35.42) wrote:

We are already at 52% unemployment for a material segment of the population......and unemployment is continuing to rise as few are hiring and more and more are laying off.

As far as the DOW.........that is clearly not trading where I forecasted it would for an environment of evaporating revenues, crashing earnings, rising bankruptcies and growing loan defaults.

Oh Well......and as far as 100% taxes....that will occur the day government decides to balance the budget of the currency collapses effectively being a full tax.  Either one is mathematically certain to occur under the current policy direction.

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#6) On September 28, 2009 at 12:17 PM, catoismymotor (24.55) wrote:

Mommy, this Kool-Aid tastes funny.

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#7) On September 28, 2009 at 12:21 PM, finabuddy (95.38) wrote:

a material segment of the population.

 

who?

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#8) On September 28, 2009 at 12:22 PM, dare1182 (< 20) wrote:

alstry, you sound like a broken record. you said your peace and you should get going . no one cares about what you say anymore. things are not as gloomy as you would like it to be. we as a country have economic issues that we are dealing with. Thats not the end of the world. Dont you get it, few names are Recs your posts now. and these names are probably your other fake names in here.09/09 has come and almost passed and guess what? the world is still ok. plz get a hubby or take a hike.

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#9) On September 28, 2009 at 12:22 PM, weg915 (< 20) wrote:

Young people, aged 16-24.

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#10) On September 28, 2009 at 12:32 PM, tomatoflu (< 20) wrote:

"As a result, many have had to resort to tapping into savings to survive to make up for the decline in income and revenues.  But now the savings is running out and banks are not lending".

 Ok, so savings are running out, but where are they going??

 According to the best information i have been able to find, when a mortgage or any other loan is payed down, the money that is used to pay down the loan 'un-creates' the loan, and thus the money as well.

I would like to suggest this is where these savings you speak of are eventually going. To service, and uncreate the created fiat money.

 Is this right? Are you aware of this Alstry?

 I am pretty sure it is.

In this way, if new loans are not made, the existing loans which are still being serviced destroy what money is existing on a Joe The Plumber level as the are payed down. Dollar for dollar.

The interest collected is not destroyed in the process of uncreating the loan. Only the principal.

Fiat money is created out of thin air, but with respect to the text i quoted from your excellent article, it needs to be remembered that in a 'fracitonal reserve banking economy' .....money is also destroyed by way of the opposite of the creation process.

With respect, to the best of my knowledge.

 

 

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#11) On September 28, 2009 at 1:03 PM, alstry (35.42) wrote:

Bingo....

That is why over the next 12 months...absent obscene deficits by government or some miracle new technology...mathematically our nation will contract at a rate never seen before in history.

Just look at how many cities, counties, states, hosptitals, schools, and businesses have fired or announced layoffs in 9.09.

We are already at 52% unemployment for citizens aged between 16-24 who are not in school.  Credit is being cut off to tens of millions and savings is evaporating as it tries to pay down a debt burden that is mathematically impossible to pay off in this environment.

We are already using potentially lethal Long Range Accoutical Devices against our citizens for crowd control......if you think Americans are angry about health care...just wait until after the Michael Moore movie gets widespread distribution.

I forecated you would know in 9.09 that our entire financial system is one big Ponzi scheme....absent a restructuring of debt, our nation will collapse.

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#12) On September 28, 2009 at 1:07 PM, tomatoflu (< 20) wrote:

 

My pet theory is they will do each other in.The global banking structure is too inbred and stale. And centralised power is inherantly extrememly unstable.

Citigroup (NYSE: C) filed a suit against Morgan Stanley Inc. (NYSE: MS) on Friday for allegedly breaching an agreement related to credit-default swaps Report this comment
#13) On September 28, 2009 at 1:58 PM, booyahh (< 20) wrote:

First alstry said Dow 5000 (or something close to it) by the end of the summer. That didn't happen. 

Then he went on and on about 9.09. This clearly isn't happening: the Dow is at 9800 today.

What's next? 9.10? And after that, lemme guess, 9.11 ? LOL

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