Why You KNOW We Are Hosed in 9.09....
September 28, 2009
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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.
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