Fitch downgrades Connecticut bond rating
Tuesday, June 8, 2010
Deficit problems are affecting states as well as the federal government.
- By John March
World markets have been increasingly concerned about sovereign debt woes confronting several governments in Europe, and even in the United States. However, federal deficits aren't the only potential ticking time bomb when it comes to financial markets - a number of states are confronting their own substantial deficits as well.
For example, California's budget woes have been well-documented in the national media for months. The state has been suffering from a multibillion dollar budget deficit, and lawmakers have remained divided on ways to resolve the problem.
More recently, Fitch Ratings announced that it had downgraded Connecticut's GO bond rating from AA+ to AA. Fitch added that its rating outlook has been revised to stable from negative.
The downgrade was said to be due to what was called "the state's reduced financial flexibility, illustrated by its reliance on sizeable debt issuances during the current biennium."
Fitch also noted that Connecticut is the nation's wealthiest state by per capita personal income, and that "significant revenue declines" were among the reasons the state's budget reserves have been on the decline.
John March is the Chief Technical Officer for the Superior Gold Group, his financial insights on precious metals are sought after by Gold & Silver Dealers globally.
If you have any questions about how to buy gold coins, and want to learn how to grow your portfolio call 888.374.4032 or write to askjohn@gold101.com.
Showing posts with label inflation. Show all posts
Showing posts with label inflation. Show all posts
Tuesday, June 8, 2010
Sunday, April 11, 2010
Combined credit debt fell again in February
Thursday, April 8, 2010
Consumers may be making more progress on personal financial issues.
- By Bruce Sands
Consumers have continued making progress in paying down their credit debts and auto loans, despite a shaky economy and questions about the strength of the recovery.
In the latest announcement from the Federal Reserve, the nation's combined consumer credit debt stood at $858.1 billion as of the end of February, down from $867.6 billion in January. The latest rate of decline, 13.1 percent on an annualized basis, was consistent with numbers seen in the fourth quarter of 2009.
In the fourth quarter of 2008, revolving consumer credit debt peaked at $958.1 billion, indicating that people have been paying down debts they ran up in the prelude to the financial collapse.
Some economists have also warned that the current decline in consumer credit is due considerably to the fact that many lenders have simply charged off old debts and are extending loans to fewer people. This is particularly likely now that federal credit card reforms have made it less profitable for lenders to offer new accounts to people with lower credit scores.
While consumers have showed progress in this area of the economy, it remains to be seen if the combination of weak spending and high unemployment will continue to make dealer gold an attractive investment option.
News brought to you by Superior Gold Group – expert gold dealers offering precious metals products. Become part of the gold affiliate program today!
Contact The Superior Gold Group and learn how to get on the gold standard at www.gold101.com or Call (888) 374-4032.
Consumers may be making more progress on personal financial issues.
- By Bruce Sands
Consumers have continued making progress in paying down their credit debts and auto loans, despite a shaky economy and questions about the strength of the recovery.
In the latest announcement from the Federal Reserve, the nation's combined consumer credit debt stood at $858.1 billion as of the end of February, down from $867.6 billion in January. The latest rate of decline, 13.1 percent on an annualized basis, was consistent with numbers seen in the fourth quarter of 2009.
In the fourth quarter of 2008, revolving consumer credit debt peaked at $958.1 billion, indicating that people have been paying down debts they ran up in the prelude to the financial collapse.
Some economists have also warned that the current decline in consumer credit is due considerably to the fact that many lenders have simply charged off old debts and are extending loans to fewer people. This is particularly likely now that federal credit card reforms have made it less profitable for lenders to offer new accounts to people with lower credit scores.
While consumers have showed progress in this area of the economy, it remains to be seen if the combination of weak spending and high unemployment will continue to make dealer gold an attractive investment option.
News brought to you by Superior Gold Group – expert gold dealers offering precious metals products. Become part of the gold affiliate program today!
Contact The Superior Gold Group and learn how to get on the gold standard at www.gold101.com or Call (888) 374-4032.
Tuesday, February 2, 2010
China is just one country being closely watched by investors these days.
- By John March
Investors and financial experts around the world have reacted with concern to reports that China is scaling back its lending activity with an eye on preventing its economy from being undermined by too much credit activity.
While the U.S. has decided to keep its own interest rates low for the time being, few expect this to remain the case for long. And in the case of China, its own recent announcement has already created some economic effects.
For example, a recent Reuters report noted that stocks in Shanghai have lost 9 percent since the January 12 announcement, and there is concern among companies that the news could lead to cancellations of Chinese imports and inflation.
China is an increasingly important player in the global economy, with Reuters also noting that the country's economy is expected to grow at a 10 percent rate this year, which is five times higher than the prediction for all advanced economies combined.
With other countries, such as Greece, also causing alarm among investors because of looming debt problems, gold investments remain an attractive option in light of uncertain economic prospects.
News brought to you by Superior Gold Group – expert gold dealers offering precious metals products. Become part of the gold affiliate program today!
Contact The Superior Gold Group and learn how to get on the gold standard at www.gold101.com or Call (888) 374-4032.
Investors and financial experts around the world have reacted with concern to reports that China is scaling back its lending activity with an eye on preventing its economy from being undermined by too much credit activity.
While the U.S. has decided to keep its own interest rates low for the time being, few expect this to remain the case for long. And in the case of China, its own recent announcement has already created some economic effects.
For example, a recent Reuters report noted that stocks in Shanghai have lost 9 percent since the January 12 announcement, and there is concern among companies that the news could lead to cancellations of Chinese imports and inflation.
China is an increasingly important player in the global economy, with Reuters also noting that the country's economy is expected to grow at a 10 percent rate this year, which is five times higher than the prediction for all advanced economies combined.
With other countries, such as Greece, also causing alarm among investors because of looming debt problems, gold investments remain an attractive option in light of uncertain economic prospects.
News brought to you by Superior Gold Group – expert gold dealers offering precious metals products. Become part of the gold affiliate program today!
Contact The Superior Gold Group and learn how to get on the gold standard at www.gold101.com or Call (888) 374-4032.
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