The Case –Shiller index shows that property values on homes are continuing to decrease. Since 2003 homes have hit the lowest value we have seen in 20 major cities and there are a lot of homes in the process of foreclosing which will hit the market soon. It may take years before we come out of this housing crisis. Along with the foreclosure problem, we are also facing an increase in unemployment. Currently unemployment is at 8.3%. It is a lot harder to take out a loan due to stricter guidelines creating a decrease in the amount of homes being purchased. These issues are causing … [Read more...]
Will The Federal Government Face the Same Cash Crisis as California?
August 16, 2012 by
A recent letter from State Controller John Chiang stated that lawmakers in California were stunned when they came to find out recently that tax collections were not moving at the same rate as existing budget amounts, which could possibly cause the state to go broke sometime in the near future. Chiang said, “state receipts were $2.6 billion lower than forecast through December 31st, while expenditures were the same amount or higher.” This is pushing many Californians to seek out the best place to buy silver coins, out of fear for their assets. It brings back memories of the 2009 … [Read more...]
Debt Denial
February 9, 2011 by
The recent astounding debt crisis is now beyond economics; it is more complicated now with figures casting an impending catastrophe. Moving on, the debt plague takes precedence over elections or policies, predicting hard outcomes. A time will come when the real debt is not affected by growth and taxes; it cannot be covered up easily. Debt comprises contingent liabilities and bonds; in the US, it is translated as social security, housing obligations and health-care which is costing the nation more than $60 trillion. This figure does not include state pension obligations that are unfunded but … [Read more...]
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