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The Domino’s keep rolling along.
By Robert Melaccio, sr(28,936)
Posted Tuesday, May 27, 2008
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The Domino’s keep rolling along and yes 11 billion less miles driven this year by Americans which means impacts to the Big Amusements Parks, vacation resorts and small time businesses that cater to vacationers. Does this impact state revenue like Florida? You bet it does and it is already rearing its ugly head in layoffs being reported all over this nation in local communities and more to come. Yes a decline in miles driven, car pooling, use of public transportation, when it can be found, is impacting state revenues. The decline in tolls collected and the availability of ticket income are simple examples of major impacts to local government, education, services and police forces. They can’t pull everyone over, can they? Yes and who will process them with the courts being reduced in size?
What does that mean for the Auto industry. GM stocks fell to a new 27 year low with other Americans car manufacturers right behind them. hey don;t cry for them they are off in China helping them build cars. However, they are saying that specific market won’t recover until 2009. Just in time to sell you 1/4 the car for double the price. The real question is will it ever recover with fuel prices as they are, the cost of those cars and just who can afford them but those who have or a person having to have perfect credit to even finance a purchase. Throw in that they claim these cars get X miles per gallon when they don’t and you have an another issue. Hey they did so good a job at dismantling America they out did themselves. I'd be betting on bike sales and public transportation.
Now if we switch gears over to purchasing and sales we see that is also on the downside. Oil a major player in much of what is manufactured is hitting those markets as well. Transportation costs driving the prices higher and higher. Consumer confidence was just over 57% the fifth straight month of decline,even with a projected 62% projection. One might suspect these figures could be even less then what is actual?
Well certainly the haves, those who got, are also reducing their spending and even with the stimulus. Too many bills to pay and too many behind on payments. The small business owner who once was doing well is feeling the pinch and is starting to get worried about his customer base. Yes, you know those average Americans who supported them and who now can only afford the necessities like food, and shelter. Yes and even the big supermarket chains are feeling the pinch. Raising prices but lowering the quantities and size to maintain profit. Yes go ask your local store manager and he will tell you all is fine but ask the department manager and you will get the real story. Have you checked out bread and milk prices lately?
So one must ask just why would average consumers opinions be good? Just why when you apply nothing more then simple logic would people expect better? Do they not see it all about even in their own families? Layoffs, low paid jobs, increasing costs and no future or real facts to change that opinion. Hope or hype still the same, nothing in my opinion can change. Where, how, when? Of course we could digress about the Credit Card snowball that in my opinion is ready to burst open as people try to survive charging gas, fuel, food, doctor expenses, etc until hope kicks in. Yes and like I asked before the very sad part about all this is when will this hope arrive and in what form and for who? Will it be for average Americans?
So in my opinion the Domino effect keeps rolling along because, well it is simple economic physics. The problem has built up enough momentum that it requires action but simply put, what immediate action will work? Well here are some right off the bat that would have immediate impact with little to no cost to the taxpayers. Of course these are all anchored by that all important jobs for Americans. That is good paying, stay in America jobs that puts average people back to work in productive jobs. No, in my opinion not those call center types or retail sales and service with lousy hours and pay and a layoff after 89 days - unemployment you know. So in my opinion these simple steps could have been taken months ago and as I predicted then nothing has happened. I suspect it never will. Too complex you know. So here they are in simple form. You think about them.
1- Stop Credit Usury immediately by rolling back the high rates of 31% and greater that make it impossible for peole to pay. Also eliminate the excessive fines, penalties and fees to where a fair charge is made. Then freeze the account and accept a reasonable payback amount that can be made. If a person is out of work and unable then we must remeber much of this is "unsecured" which means they took the risk. That used to be called "assigned risk" for those legal types out there.
In my opinion this would take care a substantial number of people forced into bankruptcy or default. Oh, rhetorically speaking I'm sorry, I forgot, the system wouldn't make enough and these unsecured lenders wouldn't get their tax write off. Yet if they had what it takes to do it would in my opinion have major impacts all across this economy immediately. Rhetorically, why would they hesitate?
2- Another simple step is to stop the bail outs of these big investors and provide immediate help to average Americans in Foreclosure, right Mr. McCain, Obama and Hillary, these people are Credit Worthy if not being gouged. You have the cash for big business though, right? yes give them the money to reduce their debt, give them a new fixed rate and many would not go into foreclosure.
3- Start a Public Works Rebuild America program as Roosevelt did getting people back to work immediately rebuilding our sorely needed infrastructure, providing training and job skills for the less advantaged. You could put many unemployed to work who do not have jobs immediately all over this land who have no income coming in. Are their not bridges to build, New orleans and the Gulf Coast, etc, etc, etc?
4- Enforce current immigration law and close our borders as part of that work program. Heavy fines for all employers currently having illegal workers on their payrolls and jail time if required. No rewards for breaking the law and address the issue with Mexico who everyone seems to ignore while shipping American manufacturing there. Rhetorically, could it be all about cheap labor?
Yes these simple steps they could have taken at any time. Did they, would they, why not? I wouldn’t bet a dime on any of them being incororated by this bunch unless they had no other choice.
Robert T. Melaccio Sr. 2008 Copyright ©2008 Robert Melaccio
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Posted to ProBlogs.com on Tuesday, May 27, 2008
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