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alstry (35.21)

Will Post Office Fire OVER 300,000 Workers?

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August 25, 2009 – Comments (5)

SAN FRANCISCO (MarketWatch) -- The U.S. Postal Service said Tuesday that it will offer buyouts to 30,000 workers, or about 4.5% of its workforce, in an effort to cut costs. The one-time offer is expected to save USPS as much as $500 million next year. The agency said the buyouts are part of an effort to cut $6 billion in annual costs. USPS has about 656,000 career employees, according to the agency's Web site.

Hmmmm.

Firing 30K saves $500 million.  Needs to cut $6 Billion.  Looks like another 330,000 workers to go to reach their goal......

That is a lot of people not paying income taxes or social security/medicare.

As the cutting continues, so does the tax revenues to Federal, State, and Local governments.

Pretty soon, there are going to be a lot of Americans with not much to do and government with not much money coming in to offset a rapidly rising obligation base.

With over 40% of the NYSE trading just four Zombie financial companies and massive numbers of government layoffs and cutbacks ahead of us, thank goodness Bennie the B says the recession is over......otherwise we could be in for some serious trouble.

Think about this for a second......as revenues to government continues to evaporate, what will politicians demand from you so they can pay their salaries?

As you sit there trying to find out the next great investment, although this has never been an issue in America since George Washington was president.....up to now......when your government is broke.....so are you.....unless you are hiding your money in a Swiss account...but then you might be in jail.

You might want to start talking to your politicians about how we are going to restructure this mess.....or maybe they just think they own everything you have?

Welcome to the world of joint liability.....and you won't even have to go to law school to learn about it.

5 Comments – Post Your Own

#1) On August 25, 2009 at 9:51 PM, alstry (35.21) wrote:

In Alstry's world....it appears people are waking up and finally calling BS.

Examples being the Federal Courts' rulings in the Bank Americal/SEC decision and Bloomberg's FOIA request on the TARP disbursements.  Are the judge's finally getting a spine?

Then Buffett's a little late and self serving OP ED piece in the NYTimes and Pimco's warnings about the deficit.

My guess is this trend to truthfulness will accellerate as we enter into 9.09.  When the truth comes out, Madoff will look like a petty criminal.

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#2) On August 25, 2009 at 10:01 PM, alstry (35.21) wrote:

ISN'T A 10% DECLINE IN GDP A DEPRESSION?

Aug. 26 (Bloomberg) -- Japan’s exports fell for a tenth straight month in July, an indication that overseas demand won’t be strong enough to sustain the nation’s recovery from its worst postwar recession.

Shipments abroad tumbled 36.5 percent from a year earlier, steeper than June’s 35.7 percent drop, the Finance Ministry said today in Tokyo.

Thank goodness our recession is over...otherwise Japan would be in serious trouble.

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#3) On August 25, 2009 at 10:05 PM, alstry (35.21) wrote:

AT LEAST THE U.S. IS DOING  BETTER THAN EUROPE

Declines in shipments accelerated in all major regions: Exports to China fell 26.5 percent, shipments to the U.S. slid 39.5 percent and those to Europe fell 45.8 percent, according to today’s report.

BUY BUY BUY??????

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#4) On August 25, 2009 at 10:44 PM, alstry (35.21) wrote:

HOW CAN SO MANY BE SO WRONG????? 

Detroit Mayor Dave Bing's top financial and administrative officers today are laying out for City Council the city's bleak budget status.


Charles Beckham, Bing's chief administrative officer, said the city is operating with a $60-million to $80-million cash shortage -- one that could implode come October -- on top of the $275-million to $300-million overall deficit.

“All of our revenue projections have been off in the wrong direction," Beckham said.

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#5) On August 26, 2009 at 7:28 AM, whereaminow (46.24) wrote:

In response to the title of this blog, I hope so.  There is always a scarcity of labor.  Why?  Because those business people are trying to make a buck.  And you make a buck by  hiring a guy for $0.95 and he returns you $1.00 in value. (Unless he's a worthless piece of crap.) Unemployment is primarily a function of minimum wage laws and intervention.  Perhaps FedEx and UPS can take the not-so-fat-lazy-and-worthless ones and expand their operations.  The rest can go join the military for all I care.  They can go cry to the obamabots about the right to a living wage, or whatever they're calling it these days.

David in Qatar

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