THE STATE OF OUR STATE
On January 11, 2016 CTNewsJunkie
reported
Malloy
Touts Economic Growth, Downplays Concerns About GE
Relocation
Today we have learned
GE IS MOVING… READ ON….
January
13, 2016
From:
The Federation of Connecticut Taxpayer Organizations
Contact: Susan Kniep, President
Website: http://ctact.org/
Email: fctopresident@aol.com
Telephone: 860-841-8032
BREAKING NEWS…
General
Electric will announce tomorrow that it has selected Boston for global
headquarters, according to an official ...
The Boston
Globe - 19 mins
ago
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By: Keith M. Phaneuf | December 16, 2015 CTMirror.org
A major Wall Street rating
agency warned it might lower Connecticut's
bond rating -- pushing up interest costs on capital projects -- if the state
adopts Gov. Dannel P. Malloy’s plan to restructure
contributions to the employee pension fund.
Continue Reading →
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By: Keith M. Phaneuf | January 11, 2016 CTMirror.org
The state's controversial
practice of borrowing to pay off debt now threatens to poke new holes in the
budget — a small one this fiscal year and a larger one after June — just a few
weeks after lawmakers and Gov. Dannel P. Malloy
wrapped a special session to balance the books. Continue Reading →
By: Keith M. Phaneuf and Jacqueline Rabe Thomas | December 21, 2015 CTMirror.org
Connecticut is on pace to exceed
its hard credit card limit by more than $320 million in two years — a
projection that will tighten available borrowing for local schools, public
colleges and universities, state building renovations and various projects in
legislators’ districts. Continue Reading →
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UConn Health paid $192,500 to the former John Dempsey Hospital
CEO who chose to resign because of a pending reorganization – a waste of
resources, state auditors wrote in a report released Wednesday. Continue Reading →
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IRAN, CHINA,
THE US, AND THE
STOCK MARKETS FREE FALL
Susan Kniep
January 13, 2015
On Wednesday morning we
awoke to some good news as we learned that the Iranian Revolutionary Guard
released the 10 American sailors, captured the day before under the suspicion of “snooping” while they traveled in
international waters. What
was perceived to be a diplomatic crisis the night before – just as President
Obama was to about to give his State of the Union address - ended with the
American sailors - 9 men and 1 woman - being allowed to continue their journey
from Kuwait to Bahrain albeit under the watchful eye of Iranian officials.
The latest Iran incident
drew criticism from Republicans in Congress who reflected on the December
incident in which a U.S. aircraft
carrier – while in the Strait of Hormuz -
came within about 1,500 yards of an Iranian rocket.
When reflecting on Iran’s latest
incident it’s fair to question if Iran was being gracious or just plain smart
in releasing the 10 Americans.
After all the carrot waived
under their noses smelled a lot
like buckets of cold hard cash as billions await the Iranians under the nuclear
deal. A
controversial deal which has drawn the criticism of many Americans throughout
the country as well as some officials in Washington. And the deal is lucrative for Iranians
as it could net them $100 Billion or more.
Texas Senator Ted Cruz – who is
giving the Donald a run for his money in the Republican primary – stated “If
you vote to send billions of dollars to jihadists who have pledged to murder
Americans, then you bear direct responsibility for the murders carried out with
the dollars you have given.” Donald
Trump – who is leaving the majority of Republican Presidential candidates
running for their political lives trying to catch up to him – stated “the
accord will make Iran unbelievably rich.”
Of course, we have to remember
that this was Iran’s
money in the first place. Money which we seized in 2011 and 2012 when we froze their assets
in International banks with the help of our friends in Europe.
Whether those assets are $100
billion or – as some speculate - $150 billion - some of the money is
anticipated to go to China and other countries Iran is presently indebted to. The amount of that debt is speculated
to be $50 billion. And, of
course, we know – if you have kept your pulse on the stock market – China is in dire financial straits. As CNBC reported this morning -
"This [volatility] is not likely about the Chinese stock market itself,
but instead all about one of the drivers of the Chinese stock market - namely
the Chinese currency, the renminbi”. Surely China would welcome a few extra billion $$$
to relieve their financial stress.
And Iran may see its coffers further enhanced
as they approach what is being called "Implementation day". Iran with the 4th largest oil reserves in
the world could soon begin to provide oil to the world markets as early as this
month. That day could fall
on January 27, 2016, after having satisfied the International Atomic Energy
Agency (IAEA) Board of Governors who cleared Iran’s nuclear
program of having any offensive use. More
specifically on December 15, 2015 it was reported that “The Agency has no
credible indications of activities in Iran relevant to the development of a
nuclear explosive device after 2009. “Nor has the Agency found any credible
indications of the diversion of nuclear material in connection with the
possible military dimensions to Iran’s nuclear programme.” More can be learned at …..
https://www.iaea.org/newscenter/news/iaea-board-adopts-landmark-resolution-iran-pmd-case
But we may all feel the effects
of a free fall in our rainy day funds we call savings if we have them invested
in the stock market – here or abroad. It
was reported yesterday by The Telegraph that “The Royal Bank of Scotland (RBS) advised clients to brace for a
‘cataclysmic year’ with its credit team advising clients that a global
deflationary crisis is about to hit. “RBS
warned global stock markets could fall by one fifth and oil could fall to as
low as $US16 a barrel”. The article is continued at
http://www.telegraph.co.uk/finance/economics/12093807/RBS-cries-sell-everything-as-deflationary-crisis-nears.html
Maybe the State of Connecticut
might wish to heed the warning of RBS and curb their spending habits with our
money!
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