The economy keeps collapsing, slowly but shurely

Discussion in 'Economy' started by Neubarth, Dec 31, 2009.

  1. Neubarth

    Neubarth At the Ballpark July 30th

    Nov 8, 2008
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    I point out to people that this is a service sector economy, considerably different from the industrial economy of ages past.

    Manufacturing makes up about ten percent of the economy. If Manufacturing goes up two percent it has a net effect on the overall economy of 0.2 percent. In the past few months, we have seen the New York sector collapse in manufacturing and the Chicago sector increase about one percent with Phili up less than one percent.

    All told, with a generous estimate on my part, the manufacturing in the whole of the United States might be up one to two percent from the depths of its collapse. If so it has increased the overall economy less than 0.2 percent. In other words there is no appreciable increase and any ballyhooing by the corrupt Obama administration is just political posturing.

    As the depression continues, we need to look at the income that Government is seeing both on the state level and the Federal level to see what the degree of collapse is.

    Third-quarter tax revenue for state and local governments was down 6.7 percent through Sept. 30, marking the fourth consecutive quarter of decline. Four straight quarters! Can anybody see a recovery in that data?

    Tax revenue in this year's third quarter totaled $266.5 billion, compared with $285.6 billion reported for the third quarter of 2008, according to the U.S. Census Bureau. Revenue has been rapidly dropping as the recession cuts into tax receipts from corporate earnings, personal incomes and sales. As government spending is skyrocketing, revenue is faltering. That is a hell of a way to run a business.

    In the state of Florida, general sales tax revenue fell 8.2 percent in the third quarter, compared with the same period in 2008. Corporate net income tax fell by 11.1 percent.

    We all know about the woes of the late Great State of California. Can we cut our budget any more? Dare we cut our budget any more! We are in serious trouble and there is no way that revenue will increase in the near future.

    Nationwide, general sales tax revenue in the third quarter was down 9 percent. Individual income tax revenue declined 11.7 percent, and corporate income tax revenue dropped 18 percent.

    The Obama administration came out today and claimed that Unemployment Insurance Claims were at a multi year low. Of course that is the false numbers. In actuality the number of newly unemployed last week was approaching 600,000, not the 400,000 that the government wants the pathetic sheeple to believe. We are in a world of hurt and our government is lying like hades to us about it.

    We need to get these totally corrupt and disgusting politicians out of office. The sooner the better.
    Last edited: Jan 1, 2010

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