Who Rescues the Rescuer?
I asked myself this question when I saw this headline in the Financial Times this morning: “US state steps in to meet city’s debt cost.”
The state of Pennsylvania has had to bail out Harrisburg, its capital city. The dollar amount is a modest $3.3 million–for now. Harrisburg has already defaulted on $282 million of its debt, however, and it remains to be seen how or if this will be paid. The city may eventually have to file for municipal bankruptcy.
The state’s actions raise an important question: who bails out Pennsylvania? The Quaker State is about to get hit with a pension crisis that will resemble a fiscal earthquake. According to the Pittsburgh Tribute Review, the state’s annual contribution to the public pension funds will rise to $3.15 billion in two years–up from “only” $776 million this year.
Of course, Pennsylvania’s woes cannot compare to those of California. Who will bail out the Golden State if or when the time comes?
The answer, alas, will likely be YOU, the U.S. taxpayer. Bondholders too are likely to be left holding the bag in certain cases. If you invest in municipal bonds, you should pick and choose them carefully. Choose states with balance sheets that are at least relatively healthy, and if you can get bonds that are insured, all the better.
Read the original story at H. S. Dent
Source:
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Humic & Fulvic Liquid Trace Mineral Complex
HerbAnomic’s Humic and Fulvic Liquid Trace Mineral Complex is a revolutionary New Humic and Fulvic Acid Complex designed to support your body at the cellular level. Our product has been thoroughly tested by an ISO/IEC Certified Lab for toxins and Heavy metals as well as for trace mineral content. We KNOW we have NO lead, arsenic, mercury, aluminum etc. in our Formula. This Humic & Fulvic Liquid Trace Mineral complex has high trace levels of naturally occurring Humic and Fulvic Acids as well as high trace levels of Zinc, Iron, Magnesium, Molybdenum, Potassium and more. There is a wide range of up to 70 trace minerals which occur naturally in our Complex at varying levels. We Choose to list the 8 substances which occur in higher trace levels on our supplement panel. We don’t claim a high number of minerals as other Humic and Fulvic Supplements do and leave you to guess which elements you’ll be getting. Order Your Humic Fulvic for Your Family by Clicking on this Link , or the Banner Below.
Our Formula is an exceptional value compared to other Humic Fulvic Minerals because...
It’s OXYGENATED
It Always Tests at 9.5+ pH
Preservative and Chemical Free
Allergen Free
Comes From a Pure, Unpolluted, Organic Source
Is an Excellent Source for Trace Minerals
Is From Whole, Prehisoric Plant Based Origin Material With Ionic Minerals and Constituents
Highly Conductive/Full of Extra Electrons
Is a Full Spectrum Complex
Our Humic and Fulvic Liquid Trace Mineral Complex has Minerals, Amino Acids, Poly Electrolytes, Phytochemicals, Polyphenols, Bioflavonoids and Trace Vitamins included with the Humic and Fulvic Acid. Our Source material is high in these constituents, where other manufacturers use inferior materials.
Try Our Humic and Fulvic Liquid Trace Mineral Complex today. Order Yours Today by Following This Link.
| Online: | |
| Visits: | 1,611,543,652 |
| Stories: | 8,173,874 |
Whistler Blowers, Insiders
