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Home
THE STATE OF OUR STATE

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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S&P warns Malloy’s pension plan could cause bond rating cut

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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Borrowing to pay off debt could poke new holes in CT’s budget

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 →

 

State must cut its borrowing to avoid maxing out credit card

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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Auditors: UConn Health paid $192,500 to resigning CEO

 
By: Arielle Levin Becker and Keith M. Phaneuf | December 30, 2015  CTMirror.org

 

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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