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More: Greece Allegedly Gets Time, Not Money; Mish Says Time Is Money
Mass Firings Soar at Fastest Pace Since 2010; What’s the Impact on Unemployment? In precisely the kind of news president Obama does not want heading into the election, Ford (F), Dow Chemical (DOW), DuPont (DD), and Advanced Micro Devices (AMD) all announced mass layoffs this past week as Firings Reach Highest Since 2010 . North American companies have announced plans to eliminate 62,600 positions at home and abroad since Sept.
Today we learned from El Pais English edition that Brussels Revises Spain’s Deficit Upward to 9.4% of GDP The European Union’s statistics office, Eurostat, on Monday said it had revised Spain’s public deficit for last year upward from 8.5 percent of GDP to 9.4 percent to reflect state injections of capital into nationalized banks. That put Spain on a par with Greece and only behind Ireland, whose shortfall was 13.4 percent of GDP, in the EU
View post: Fact Check: Debate Filled With Half-Truths, Distortions, Outright Lies
Read this article: US Runs 4th Straight $1 Trillion-Plus Budget Gap; More Stimulus? You Already Got It; Welcome to Slow…
A summary of California State Finances for August 2012 looks like this: Except for corporate income taxes (down a whopping 71.5% vs. projections), the state is doing better in August than budgeted.
Total Revenues: -$468.8 million (-10%) Income Tax: $156.2 million (5%) Sales Tax: -$390.7 million (-40%) Corporate Tax: -$26.4 million (-9.1%) What the Numbers Tell Us Typically, July is a month when California revenues go on vacation, as the month accounts for about one dollar of every $20 deposited in the General Fund.
Please consider this news headline which I openly mock: Expert says bankruptcy for Syracuse is unlikely, but mayor should explore option While the financial situation in the city of Syracuse hasn’t been described as desperate yet, Mayor Stephanie Miner has asked for some legal expertise on municipal bankruptcy. The signs of the city’s financial problems have been evident for several years as city employees accept wage freezes and fire and police departments see staff reductions. The city will use an early payment from Albany to help keep the budget from dipping into dwindling reserves.
In turn, I give credit to Michael Snyder for his writeup Anyone With Half A Brain Should See That A Gigantic Economic Collapse Is Coming Snyder, referencing Ron Paul and Tony Robbins, writes … For the past four decades, the United States has been enjoying a 15 trillion dollar party. All of this borrowed money has enabled us to live far, far beyond our means