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...]
The Economy is Prone to Accidents
August 16, 2012 by
An article from the International Monetary Fund recently said that Europe is facing a financial crisis that has started a “dangerous new stage” and has the possibility of paralyzing global economic growth even with the best of circumstances. Things are only looking worse for Europe with warnings of more instability in the near future causing a breakdown in lending, investment and production that would bring forth a brutal recession in Europe, in contrast of what the IMF is expecting which is a mild recession. According to the current World Economic Outlook released by the … [Read more...]
Worldwide Economic Crisis is Huge
September 12, 2011 by
Hendrikus Johannes Witteveen who was head of IMF from 1973-1978 recently said in the Financial Times that the worlds financial system could become even worse than in 2008. He also said it is happening in other developed countries which slows the growth of the worlds economy and rising countries. The Current European debt issues and the crisis of 2008 have made the ECB and the Federal Reserve have fewer options to help and make an impact. His solution is to allow countries with debt problems to kind of form a safe haven or debt facility that would allow them to borrow funds from stronger … [Read more...]
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