Chrysler to Cut 25 Percent of U.S. Dealers!!!

This is a HUGE DEAL!

What is going to happen when your local Chrysler dealership closes? I will tell you.

First, there is the obvious immediate take away of a profitable enterprise from a “greedy” corporation… are you hearing my sarcasm?

Next, there is the immediate loss of all jobs at the dealership. All the salespeople. The office staff. The entire service department. Notice anything here? No union jobs being lost here…

Next, your local city and county loses all that income and sales tax revenue as car buyers go to other cities and counties to purchase their cars.

Next, your local commercial real estate market is harmed, as the empty dealership blights the area and drags down other businesses that used to be patronized by all of the employees and staff of the dealership. These include restaurants, window tinting, gas stations, and tire distributors.

As you can see, the repurcussions are HUGE. TRICKLE DOWN ECONOMICS is REAL! Whoever told you it’s not real was simply trying to make a politically motivated statement and has obviously never lived in the real world in a real locality…

No ivory towers people.

Mandrake

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So, let me get this straight… since the depression began in Decemeber 2007, we have shed a NET total of 5.1 MILLION jobs… that is NET PEOPLE… that means that 5.1 million more people are currently out of work since December 2007… and here is the most striking part of this horrible statistic – almost 2/3 of those job losses came in the past 5 months… for those of you who don’t see the significance of this, let me break it down: We have been in a depression for 15 months now – the first 10 months only produced about 1.6 million job losses… meaning, the sub-prime blow up, hedge fund crash, etc… only can really account for about 1.6 million jobs lost… now, the logical result of all this is more job losses, ala in the next 5 months (previous 1/3) of the depression we lost around 3.3 million MORE jobs (about 2/3 of the job losses in 1/3 of the time)… now, lets back up here for a second… does anyone know what the result of job losses is to a capitalistic economy? – The answer is clear, simple, and shockingly reliably predictable – ECONOMIC CONTRACTION! Economic contraction is what we are going through right now… and what does economic contraction produce? – MORE JOB LOSSES. And so the cycle will continue until some major catalyst stops the cycle and turns everything around. So, I ask you… what MAJOR CATALYST can you point to in the past 30 days has stopped the cycle and is turning things around? The answer is NOTHING… there is NO MAJOR CATALYST! How dare the liar press run around spewing lies about things turning around when it clearly isnt turning around… absent the major catalyst, there is not going to be a change…
At what point are people going to realize that a family where one or two of the breadwinners have lost their job – and are on unemployment or have given up working or have taken part time work – SPEND LESS MONEY!!! – Spending less money does NOT create economic expansion! Hello! Looking back at the vicious cycle above, as households spend less money, private employers SHED MORE JOBS! This cycle will continue forever, until something happens to stop it… I am sick and tired of this simple, kindergarten level economic principal being completely ignored by the American JOKE of a FREE PRESS…

So, I repeat, THIS IS NO RECOVERY! This is NOT A RECOVERY PEOPLE! Stop buying the BULL. Stop drinking the POISON COOLADE… you are fooling yourselves…

So, the DOW is all the way back to 8000, and here come the same idiots that told us to buy buy buy all the way down from dow 14000 all the way down…  here they come… spouting such diahrhea of the mouth as this is the best buying opportunity of a lifetime… and stick with your long term strategy, and don’t change your strategy now… why? simple, it is in their best interest… they work for brokerages, news networks, or other financial related industries that BENEFIT from idiot America simply following their advice like lambs being led to the slaughter… BEWARE of advice givers that have an interest in you taking their advice… in other words, when a loan broker says – yes, choose the option ARM, it will save you money, get you into the house you want, and you can always refinance later… think about how much more money he makes when you choose this TOXIC ASSET. Or how about the real estate agent who advises you to make an above asking price offer on the house of your dreams, as they state that real estate is the best investment you will ever make, and prices are lower than they have been in years, and housing prices can only go up from here, and other TOXIC spewage, as they have only one desire… to get the deal done so that they can cash their commission check (oh yeah and they referred you to that expert loan broker, who will take them on a vacation later on that year as a kickback for sending them so many sheep to be slaughtered)… and a year later, as you sit in your dream home – and you stare at a foreclosure notice… your home now worth $100,000.00 LESS than what you paid for it… your loan payment about to TRIPLE, and you call your loan broker and your real estate agent for advice on what to do now, and what do you know… they are together on a 5 STAR VACATION in an exotic location somewhere, SPENDING your money that they fleeced from you – without mercy, without a heart, without ever caring about what is happening to you, as you crash and burn and go down with the ship and lose it all… they sip champagne and laugh at your stupidity and say to each other – “we didn’t hold a gun to their head and make them buy the house, or sign on the dotted line, they have to hold themselves responsible for their own actions”.

BEWARE I say.

Mandrake

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I don’t want to get into the mumbo jumbo of all the details of the 700 BILLION Wall Street Bailout plan… but, what I do want to say is… come on people… let’s get some simple common sense here…

THE only thing that is going to stop all this pain is an IMMEDIATE and COMPLETE STOPPAGE of ALL NEW FORECLOSURES… PERIOD. That’s the ONE SINGLE thing that can make a difference right now today…

So politicians… please please… do something to stop the foreclosures… that means do something for the average joe… stop giving buckets of money to wall street CEO’s, and start giving some money to average people.

Mandrake

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IndyMac Bank appears to be stopping taking any new mortgage applications anymore… its a total mortgage implosion. A total blow up… SUB PRIMES has reared its ugly head yet again as IndyMac Bank announces massive job cuts amid horrible writedowns and mortgage losses…

Is this the last mortgage blowup ? It this the last mortgage bank to implode ?

I would really like to hear stories from people who have had dealings with IndyMac Bank. If anyone has a mortgage with them, please post a comment… share with our readers your story.

Robert Mandrake

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