The Elevation Group from Mike Dillard exists to help people understand the dire nature of the current economy.
Countries are going bankrupt, the U.S. is deeply in debt, many states are dramatically cutting costs to try to overcome budget shortfalls, some states like California may need a bailout, and many cities are on the verge of bankruptcy……
According to The Business Insider, 2011 will be the year of the municipal default. At least that’s what analysts like Meredith Whitney predict, as do bond investors that have been fleeing the muni market.
There are many reasons to be worried. First, the expiration of Build America Bonds will make it harder for cities to raise funds.
Second, city revenues are crashing and keep getting worse. Property taxes haven’t reflected the total damage from the housing crash. High joblessness is cutting into city revenues, while increasing costs for services.
The next default could be a major city like Detroit, or it could be one of hundreds of small cities that are on the brink. Here’s a list of financially strapped cities:
- San Diego, CA
- New York, NY
- San Jose, CA
- Cincinnati, OH
- Honolulu, HI
- San Francisco, CA
- Los Angeles, CA
- Washington, D.C.
- Newark, NJ
- Detroit, MI
- Reading, PA
- Joliet, IL
- Camden, NJ
- Hamtramck, MI
- Central Falls, RI
- Paterson, NJ
- Chicago, IL
On a more personal level, families are being affected by high unemployment; rising food, gas and goods prices; and declining values of their 401k and homes.
Prepare now before your city, state or federal government experiences more bankruptcies and financial shortfalls, which could cause even more financial hardship on your family.
The Elevation Group from Mike Dillard can help you position yourself to leverage the money crisis to multiply your wealth.
Prepare for the worst, plan for the best!