In 2008, we saw unprecedented Bankruptcy with Lehman Brothers. Is 2012 an even bigger year?
It might not just be dodgy deals anymore...now we're looking at Default!
Torah has the concept of the Jubilee Year (Yovel), where debt is restored and the "start over" button is pushed, to regain a fresh start and opportunity for all. Is there a Cosmic Yovel coming? One big Default..and this is the 2012 scenario? Is it for not, that every branch of Wisdom is going through this? (politics and science to name a couple...disproving Einsteinian Physics!?)
The EU has members slated for Default (as it is D'Fault of poor Non-Torah Economics;Pun intended) as soon as January February of 2012. Greece, Italy, and Germany being asked to foot the bill.
Now America is catching on..The Postal Service is about to go Postal...will this be the new Tsunami of 2012 of prediction? Who is next? Is this a cause for World War III?
The Postal Service reported a net loss of $5.1 billion for its 2011 fiscal year and on Tuesday warned that could run out of cash by September of next year if Congress did not offer relief.
The rise of e-mail and online bill payments combined with the recession has eroded mail volume, which fell by 3 billion pieces, or 1.7 percent, during 2011.
The Postal Service, which receives no taxpayer money for operations, says it is limited in how it can respond to shrinking revenues and high labor costs.
Operating revenue for the 2011 fiscal year ended September 30 was $65.7 billion, down 2.1 percent from 2010.
Revenue from First Class Mail, the Postal Service's most profitable product, fell 5.8 percent, overwhelming gains in shipping and advertising mail.
Joseph Corbett, the Postal Service's chief financial officer, said during a conference call with reporters that the agency could run out of cash by the end of fiscal year 2012.
"We will likely nearly run out or run out of money at the end of this year, and ... if the economy turns south or we are unable to achieve our plan, we could run out of cash earlier," he said.
The losses could add pressure on Congress to pass legislation offering relief to the cash-strapped agency.
Postmaster General Patrick Donahoe said in a statement the agency needs to cut $20 billion by 2015 to return to profitability.
The agency has proposed a strategy for trimming costs but has said it needs congressional action for more dramatic measures.
The Postal Service is reviewing 3,700 post offices and hundreds of processing facilities for possible closure, temporarily halted payments into a retirement fund, and it announced a one-cent boost in stamp prices to start in 2012.
The agency has previously said it may need to cut more than 220,000 of its about 550,000 career jobs by 2015, many through layoffs.
PRESSURE ON CONGRESS
Officials have asked lawmakers to let the agency end Saturday mail delivery, spin off its retirement and health programs, and renegotiate union contracts. The agency also wants to tap into an estimated $6.9 billion surplus in a retirement fund.
Bills in Congress take some of these steps, but lawmakers in the House of Representatives and the Senate have yet to reach an agreement on how to fix the problem.
"There are 8 million private sector jobs that rely on the Postal Service, and these jobs will be put at risk unless Congress quickly enacts bold reforms," Art Sackler, of mailing group the Coalition for a 21st Century Postal Service, said in a statement.
The loss reported on Tuesday did not include a $5.5 billion payment to prefund retiree health benefits, which was extended by Congress to November 18 to help conserve cash.
Corbett said the agency will default on the payment if it is not extended again and that the Postal Service will not have the cash to make next year's payment either. The mail carrier wants Congress to end the prefunding requirement, which was imposed in 2006.
A stopgap bill proposed this week to fund the federal government for another month would give the agency until mid-December to make the payment, a congressional staffer said on Tuesday.
I think 2012 will actually measure up!
כח ב''תשעה...Power of 2012/5772-3 !
As it is said, The Shabbos Queen makes her way into the world after 9 hours into the day, corresponding with our year, "5772"..which literally means,"with 9".
B'H Jerusalem will be rebuilt soon!
Posted in: 5772,Geulah,Moshiach,Politics
4 comments :
"Once a certain limit is reached, a change to the opposite direction is inevitable" (Confucius)! The lesson of The Flood has shown that Hashem will not allow the pleasures of material existence to reach orgiastic proportions, and thwart mankind's raison d'etre by overwhelming the spiritual. Investment falls, company and bank crashes, pension fund scams, share price slumps, land value slides, mass unemployment, recessions and depressions are all examples of these checks and corrections."Before those days come, there will be no wages, not for man nor beast; I will set every man against his neighbour" (Zechariah 8) - "Before the Messiah, human wages will not exist" (Chofetz Chayim). "There is no clearer sign of the coming of Moshiach than when all prices become equal" (Sanhedrin 98). "Before the Moshiach, poverty will increase, prices will rise; even though the vine will produce its fruit, the wine will still be expensive" (Sotah 49). "The Moshiach will not come until the Jewish People have been cured of their obsessional love for money!" (Rav Rafael Eisenberg, 1976). "It will become harder to provide a man with his livelihood than to bring the Redemption" (Pesachim 118)! "There are certain sins for which the only atonement is to be in debt. When these sins multiply, then everyone falls into debt" (R.Nachman of Breslov). "Three types of individual will not be required to see even the entrance to Gehennom: he who was pursued by his creditors,..." (Eruvin 41)!
Why use the Gregorian year 2012 when what you are claiming could very well happen before the end of 2011 during the year 5772?
tag-phrase...and laws of probability
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