By: Garry L. Hamilton
From: Stocks on Alert
YouTube – RunToGoldDotCom:
44 States face massive funding problems. These problems are estimated to persist until 2011. Where will they get the revenue to continue operating?
For those in Pennsylvania who have lost the contents of their safe deposit boxes I would recommend checking auctions from the seller pastatetreasury on EBay.
Delaware appears to be exceptionally proud of their increased revenues. For examples these quotes come from the State of Delaware Comprehensive Annual Financial Report.
From page 10: Key elements of the increase in net assets are as follows:
Total general revenues increased overall $168.1 million (5.1%) with significant increases in tax revenues and interest income. In addition, strong growth in … abandoned property collections, helped offset decreasing personal income tax growth.
From page 14, Other non-tax revenue increased in fiscal 2007 by $66.3 million (16.9%) due to continued strength in abandoned property collections, which grew $39.8 million (12.2%).
So, you have some cash or jewelry or maybe a keepsake (like your grandpa’s antique pistol), and you don’t want to expose it to the risk of burglary, where would you put it…?
So much for the idea that a safe deposit box is a “safe” place to keep your money and valuables.
Let’s be careful out there.