Submitted by Tyler Durden on 08/09/2012 - 09:03 European Central Bank
Update: USPS STILL EXPECTS TO RUN OUT OF CASH IN OCTOBER - well, this is the bailout request that Draghi was waiting for. All your ECB - get involved.
The epic collapse of one of the most bloated government institutions continues at a ridiculous pace. From Bloomberg:
U.S. POSTAL SERVICE LOST $5.2 BILLION IN THIRD QUARTER
POSTAL SERVICE LOSS Q3 COMPARES WITH $3.1 BILLION LOSS YEAR AGO
POSTAL SERVICE 3Q REVENUE FALLS TO $15.6 BILLION FROM $15.8B
POSTAL SERVICE `LIQUIDITY CHALLENGES' REMAIN IN 2013
POSTAL SERVICE MAIL VOLUME FALLS 3.5 PERCENT IN THIRD QUARTER
POSTAL SERVICE WILL CONTINUE TO PAY EMPLPOYEES, SUPPLIERS
And it gets better:
POSTAL SERVICE LOSS INCLUDES SKIPPED PAYMENT TO TREASURY - in other words the taxpayer bailouts of the USPS have begun... and the loss would have been even bigger.
The punchline:
POSTAL SERVICE WILL `NEVER' CEASE DELIVERING MAIL: MARSHALL
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http://www.zerohedge.com/news/insolvent-us-postal-service-loses-whopping-52-billion-third-quarter-70-higher-year-ago
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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