Wealth

Rise Of The Survival Communities

Fast and Furious.

No, not the alleged Obama administation gun-running progam.

Rather, the number and frequency of articles concerning the rich buying “luxury bunkers” these days.

That being said, I spotted a piece over on The Atlantic website (slated for next month’s print edition) which I think might interest readers.

In “A Resort for the Apocaypse,” Ben Rowen wrote:

On July 25, 1961, President John F. Kennedy spoke to the American people of a need “new to our shores” for emergency preparedness, including fallout shelters. The bunkers of that era- Brutalist, cement, with foldout beds and stockpiled food- were designed to protect families in the event that the Cold War turned hot.

It never did, but fears of cataclysm- nuclear and otherwise- are back. So are shelters, with a twist. Growing numbers of “preppers” hope to ride out various doomsday scenarios in luxury

(Editor’s note: Bold added for emphasis)

Rowen brought up Rising S Company, “one of several companies that specialize in high-end shelters,” and which I just blogged about here. But he also pointed out “a handful of bunker companies are building entire survival communities in remote locations.” From the article:

One project, Vivos XPoint, involves refurbishing 575 munitions-storage bunkers in South Dakota; Vivos Europa One, in Germany, is a Soviet armory turned luxury community with a subterranean swimming pool.

By contrast, Trident Lakes 4, a 700-acre, $330 million development in Ector, Texas, an hour and a half north of Dallas, is being built from scratch…

Seriously, what is it with Texas and bunkers?

Rowen went on to write a good deal about the Trident Lakes project, being billed as a “5-star playground, equipped with DEFCON 1 preparedness.”

He also noted the following about the deep-pocketed clients of luxury underground survival shelters and communities:

Jeff Schlegelmilch, the deputy director of the National Center for Disaster Preparedness at Columbia University, told me that the luxury-bunker trend is “not just a couple of fringe groups; there is real money behind it- hundreds of millions of dollars.” But why are wealthy people buying?

Some customers appear to be motivated by old anxieties, recently revived- the threat of nuclear war, or a national-debt default that leads to unrest. Others have newer fears: climate change, pandemics, terrorism, far-left and far-right extremism. The presidential election has brought new faces into the fold, namely liberals (who also contributed to a record number of background checks- an indicator of gun purchases- on Black Friday)…

(Editor’s note: Bold added for emphasis)

Interesting. But are any of the survival communities mentioned potentially within the budget of the not-so-well-heeled? Well, Vivos xPoint, which is being billed as “the largest survival community on earth,” advertises this on their project web page:

Priced At Just $25,00 Per Bunker
No Per Person Charge

The biggest feature is the extremely low and affordable price. Each bunker is being privately and exclusively provided under:

A Bunker Lease for 99-years, with a one-time, upfront payment of just $25,000 per bunker;

coupled with,

A Ground Lease for 99-years, with an ongoing payment of just $1,000 per year

Your bunker will be your blank canvas to prepare as much, or as little as you like, with no restrictions on how many people will share it with you when the moment of truth (aka SHTF) arrives. So, you may bring as many friends and family as you like to accommodate in your private bunker, at NO EXTRA CHARGE!

If you shelter 10 people in your bunker, the effective cost is just $2,500 each. With 20 people, the cost is just $1,250 per person. Do the math, there is no lower cost shelter solution, anywhere


Vivos xPoint Promo Video

Watching that marketing video, Vivos isn’t kidding about that “blank canvas” bit.

Regular readers of Survival And Prosperity might remember The Vivos Group from a June 2013 post about the planned construction of “the world’s largest private underground survival shelter”- Vivos Survival Shelter & Resort- in an existing below-ground complex in Atchison, Kansas. Alas, the project was cancelled as “numerous concerns arose related to the geological stability and safety of the cave structure that we believe may compromise its ability to withstand the anticipated forces of future catastrophic or earth changing events.”

From the looks of things, that setback hasn’t stopped Vivos from charging ahead with new projects.

You can read “A Resort for the Apocalypse” here on The Atlantic website.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: Posting of information about any product/property offerings is not to be construed as being a recommendation from this blog and its editor, unless specifically indicated. I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

Share

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Wednesday, February 8th, 2017 Debt Crisis, Defaults, Emergencies, Europe, Man-Made Disasters, Natural Disasters, Preparedness, Shelter, TEOTWAWKI, Terrorism, War, Wealth Comments Off on Rise Of The Survival Communities

The Rich Keep Buying Survival Bunkers

Back in March 2011 I started blogging about underground survival shelters on Survival And Prosperity. Anyone remember that Discovery Channel TV series Doomsday Bunkers focusing on Dallas-based shelter fabricator Deep Earth Bunker? Yeah, I covered that production in a number of posts.

Chatter about survival bunkers in the mainstream media kind of subsided for a few years. Then I noticed a definite pickup about such shelters in the news over the last few months. Two just-published articles appear on the Fort Worth Star-Telegram and BBC News websites. Gordon Dickson reported on the Star-Telegram site Friday:

Inside his football field-size warehouse an hour’s drive southeast of Dallas, Gary Lynch is busy trying to keep up with orders for his solid-steel bomb shelters

Lynch explains that orders for his most expensive shelters, which can cost as much as several million dollars, have increased since the November election.

“It definitely has picked up a little as Donald Trump emerged as president,” said Lynch, general manager of Rising S Co. on the outskirts of the rural city of Murchison…

Sales of Rising S’s most luxurious shelters have jumped 700 percent in recent months…

(Editor’s note: Bold added for emphasis)

“Americans buy bomb shelters, prep for ‘Trumpocalypse”
Star-Telegram Video

Regular readers of Survival And Prosperity shouldn’t be surprised rich Americans are acquiring survival shelters. Last Thursday I discussed an article from the January 30, 2017, issue of The New Yorker entitled “Doomsday Prep For The Super-Rich.” There was this bit in the piece:

In private Facebook groups, wealthy survivalists swap tips on gas masks, bunkers, and locations safe from the effects of climate change. One member, the head of an investment firm, told me, “I keep a helicopter gassed up all the time, and I have an underground bunker with an air-filtration system.”

(Editor’s note: Bold added for emphasis)

The article also talked about Larry Hall (first blogged about here in March 2012), the CEO of the Survival Condo Project, who sells luxury survival condos built underground in former Atlas missile silos. Hall and his survival condos were the focus of a January 31 BBC News piece analyzing the market for such shelters. Neil Koenig, “The Life of Luxury” series producer, penned on the BBC News website earlier today:

Despite the fact that the apartments cost millions of dollars each to buy, starting at $1.5m (£1.2m), Mr Hall says he is seeing strong demand from wealthy customers

Hall is by no means the only player in the specialist market for survival bunkers, with rivals offering facilities at several locations across the globe. But with his use of luxury elements, experts say, Mr Hall is exploiting a growing trend

(Editor’s note: Bold added for emphasis)

Koenig added that one complex is already completed, with another one “well under way.” The New Yorker piece noted every unit in the first complex has sold out.


“This doomsday bunker costs $3 million”
YouTube Video

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Sources:

Dickson, Gordon. “Bomb-shelter builder stays busy as customers prep for ‘Trumpocalypse.'” Fort Worth Star-Telegram. 27 Jan. 2017. (http://www.star-telegram.com/news/business/technology/article129232199.html). 31 Jan. 2017.

Koenig, Neil. “The nuclear bunkers designed for luxury living.” BBC News. 31 Jan. 2017. (http://www.bbc.com/news/business-38795967). 31 Jan. 2017.

Share

Tags: , , , , , , , , , , , , , , , , , ,

Tuesday, January 31st, 2017 Business, Government, Preparedness, Wealth Comments Off on The Rich Keep Buying Survival Bunkers

Milwaukee County Sheriff David Clarke: Mainstream Media Now Democrats’ ‘Propaganda Wing’ As Trump Defends Nation

Let’s turn our attention north of the “Cheddar Curtain” now. Milwaukee County Sheriff David Clarke, Jr., appeared on FOX News Saturday morning and really let the mainstream media and opponents of strengthening the borders/homeland security have it. On the sparring between President Trump and the mainstream media, Sheriff Clarke informed FOX & Friends Weekend viewers:

Well, first of all, the mainstream media, The New York Times, The Washington Post, CNN, MSNBC- they have become the propaganda wing of the Democrat Party and of leftist ideology. They abandoned their responsibility under the Constitution, their First Amendment protection. And we want them to have First Amendment protection but we don’t want it to be used against people whose political views they don’t agree with or that they oppose. They’re supposed to be a watchdog but instead what they have become, like I said, is an echo chamber for leftist ideology. So I think it’s good because the media has changed. And organizations like The New York Times, The Washington Post, and others do not realize that this is a new media age and every person in the United States now is their own reporter. And that is competition to them as well and they don’t like it.

On President’s Trump’s initiatives to protect the nation’s borders and strengthen homeland security, Clarke said:

First of all, I’m tired of these one-percenters like Mark Zuckerberg and others lecturing us about who we are. I know who I am, and most Americans know who we are. We are a sovereign nation. If you’re going to be a sovereign nation, you have to have borders and you have to protect those borders. Mark Zuckerberg has no idea of who’s coming into this country and what it takes to vet those individuals. I as a law enforcement officer- I’m in my 39th year- we do a lot of vetting of people. I know how it’s done. But you have to have databases with which to compare. So you take a name, someone coming in as a refugee. And we’re not talking about the kids. I’m tired of all this crocodile tears about the kids, the poor kids coming. We’re not talking that. We’re talking about abled-bodied, grown men, fighting-age, that should be back in Syria and back in the Middle East fighting for their country coming over to the United States to spread jihad. So that’s who we’re talking about. But if you don’t have a database, someone gives you a name, and you don’t have a database in Syria, because they don’t have the record systems and the databases like we have with people- you have nothing to compare it to. So they give you a name and you look and there’s nothing there. That doesn’t mean that they’re safe to come in. So Donald Trump is right on this. And I hope that the rest of the people in Washington, D.C., realize that this thing is a mess and we have to get our arms around it. And at least President Donald Trump recognizes that…

What’s interesting is former President Barack Obama said that they were already doing it. So if he said- and they weren’t- but if he said they were already doing it, and now President Donald Trump comes along and says we’re doing it and now these same people who said, “Well, hey, Barack Obama’s taking care of it”- these same people are now being critical of it. The hypocrisy of this is profound. But, President Donald Trump understands that his first obligation is to defend and protect American citizens, and defend and protect America from foreign threats. That is his first and most important obligation. So he is rising up to that. And people should be proud of that. It makes me feel more secure that finally, somebody understands that the defense of this nation is government’s number one priority.


“Sheriff Clarke: Mainstream Media Has Abandoned Its Constitutional Responsibility”
FOX News Video

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Share

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Monday, January 30th, 2017 Government, Immigration, Mainstream Media, Middle East, North America, Political Parties, Propaganda, Public Safety, Religion, Security, Terrorism, Wealth Comments Off on Milwaukee County Sheriff David Clarke: Mainstream Media Now Democrats’ ‘Propaganda Wing’ As Trump Defends Nation

Expensive SHTF Preps New Status Symbol In New York City?

Last night’s post about rich Americans charging full-steam ahead with their prepping reminded me of an article I read on the New York Post website at the start of this month. The January 1 piece focused on afluent New Yorkers shelling out big bucks on preparedness these days. Dana Schuster reported in “These families have elaborate escape plans if terror hits NYC”:

It seems that the new status symbol in NYC is safety. City dwellers are splashing out serious dough for everything from five-figure air infiltration systems to swanky survivalist kits. Luxe retailer Moda Operandi has jumped on the bandwagon, hawking a $4,995, monogrammed “go bag,” with essentials such as night-vision scopes, a GPS satellite communicator and a caviar serving set and Mast Brothers chocolate…

But New York preppers aren’t your run-of-the-mill doomsayers. Tom Gaffney, CEO of Gaffco Ballistics, a safety design firm in NYC, said he’s seen requests for dirty-bomb protection double in 2016.

“If I did 30 town houses in Manhattan last year, 25 of them got infiltration units,” said Gaffney, who says the systems cost between $20,000 and $30,000 and are typically incorporated into the safe rooms of his A-list clients, including Fortune 500 CEOs, hedge-funders and music-industry honchos.

For some, an air-purified bunker isn’t enough. It’s more about escaping New York

(Editor’s note: Bold added for emphasis)

Schuster brought up Chris Dowhie and Plan B Marine private evacuation services, which maintains a small fleet of emergency evacuation boats docked in Brooklyn and Manhattan “as an alternative to chaos in the event the unthinkable happens. We provide peace of mind and the fastest possible way off the island under catastrophic circumstances.”


“PlanBmarine”
YouTube Video

Another interesting look at how well-heeled Americans are prepping, which you can find here on the New York Post site.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Share

Tags: , , , , , , , , , , , , , , , , , , ,

Friday, January 27th, 2017 Emergencies, Gear, Man-Made Disasters, Natural Disasters, Preparedness, Terrorism, Transportation, Wealth Comments Off on Expensive SHTF Preps New Status Symbol In New York City?

Rich Americans Keep On Prepping

Regular readers of Survival And Prosperity know that I’ve been observing and blogging about “prepping” for several years now. Case in point, this 2011 post recapping a new TV show called Doomsday Preppers (ever heard of it?).

Early on I noticed wealthy Americans were getting into preparedness. They recognized and took steps to deal with potential TEOTWAWKI scenarios- just like their lower-net worth compatriots.

And such activity continues to this day, spurred on not just by concerns over major emergencies and man-made/natural disasters, but fears of a financial crash, civil unrest/war, and impoversihed and angry masses turning against the rich.

Earlier this evening I finally got the chance to read an article from the January 30, 2017 issue of The New Yorker entitled “Doomsday Prep For The Super-Rich.” Evan Osnos penned:

Survivalism, the practice of preparing for a crackup of civilization, tends to evoke a certain picture: the woodsman in the tinfoil hat, the hysteric with the hoard of beans, the religious doomsayer. But in recent years survivalism has expanded to more affluent quarters, taking root in Silicon Valley and New York City, among technology executives, hedge-fund managers, and others in their economic cohort…

The lengthy-yet-interesting piece took a closer look at the prepping mindset and priorities of the wealthy these days. One notable passage was:

I asked [prominent investor and co-founder of LinkedIn Reid] Hoffman to estimate what share of fellow Silicon Valley billionaires have acquired some level of “apocalypse insurance,” in the form of a hideaway in the U.S. or abroad. “I would guess fifty-plus per cent,” he said…

There was also this from Osnos:

In building Reddit, a community of thousands of discussion threads, into one of the most frequently visited sites in the world, [co-founder and CEO Steve] Huffman has grown aware of the way that technology alters our relations with one another, for better and for worse. He has witnessed how social media can magnify public fear. “It’s easier for people to panic when they’re together,” he said, pointing out that “the Internet has made it easier for people to be together,” yet it also alerts people to emerging risks. Long before the financial crisis became front-page news, early signs appeared in user comments on Reddit. “People were starting to whisper about mortgages. They were worried about student debt. They were worried about debt in general. There was a lot of, ‘This is too good to be true. This doesn’t smell right.’” He added, “There’s probably some false positives in there as well, but, in general, I think we’re a pretty good gauge of public sentiment. When we’re talking about a faith-based collapse, you’re going to start to see the chips in the foundation on social media first.”

(Editor’s note: Bold added for emphasis)

I’ve noticed a growing amount of anger directed against President Trump and the Republicans on my Facebook “home page” these days.

“Early signs” of significant civil unrest coming?

If you’ve got some time to spare, head on over to The New Yorker website and check out the Osnos piece here.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Share

Tags: , , , , , , , , , , , , , , , , , , ,

Thursday, January 26th, 2017 Civil Strife, Class Warfare, Emergencies, Government, Man-Made Disasters, Natural Disasters, Political Parties, Preparedness, Technology, TEOTWAWKI, War, Wealth Comments Off on Rich Americans Keep On Prepping

Martin Armstrong: ‘The United States Will Most Likely Break Apart By 2036’

Back on January 27, 2016, I asked:

Do any readers follow Martin Armstrong, economist at Armstrong Economics (and former chairman of Princeton Economics International Ltd.) and the creator of the Economic Confidence Model? While the jury’s still out on him (for me), I do read his blog almost daily…

I still “read his blog almost daily.” And something Armstrong wrote last week really caught my attention. From “The Termination of Cash Approaching Rapidly”:

I am becoming deeply concerned that the United States is headed into its version of a communist revolution under the label “progressive” and the bankers, who Larry Summers has always supported, will be used as the scapegoat for Wall Street and the “rich” who have to be stripped of their liberty and their money for the “good of the people” as they always say. The United States does not look like it will be a country we can recognize by 2032 if we can even make it past 2024. The United States will most likely break apart by 2036. There are separatist movements rising in many areas from Vermont and Texas to California, who reasons they voted for Hillary not Trump justifying their departure.

The entire purpose of eliminating cash is to strip us of our assets, liberty, and to prevent bank runs. The youth, who have been brainwashed by Bernie Sanders and people like Elizabeth Warren, will turn against the older generation and enslave them if at all possible. This threatens our future with outright civil war. They will not be satisfied until they destroy the freedom of their opposition. It is starting to appear that 2036 is our date with destiny

(Editor’s note: Bold added for emphasis)

America kaput by 2036- if not earlier?

That’s a pretty disturbing thought. And reading that blog post reminded me of an article I pulled up almost eight years ago on The Wall Street Journal website (my how time flies) by Andrew Osborn, who discussed a similar prediction made by Russian academic Igor Panarin, a former KGB analyst and Dean of the Russian Foreign Ministry’s school for future diplomats (then and now). On December 29, 2008, Osborn wrote:

Mr. Panarin posits, in brief, that mass immigration, economic decline, and moral degradation will trigger a civil war next fall and the collapse of the dollar. Around the end of June 2010, or early July, he says, the U.S. will break into six pieces — with Alaska reverting to Russian control…

California will form the nucleus of what he calls “The Californian Republic,” and will be part of China or under Chinese influence. Texas will be the heart of “The Texas Republic,” a cluster of states that will go to Mexico or fall under Mexican influence. Washington, D.C., and New York will be part of an “Atlantic America” that may join the European Union. Canada will grab a group of Northern states Prof. Panarin calls “The Central North American Republic.” Hawaii, he suggests, will be a protectorate of Japan or China, and Alaska will be subsumed into Russia…

(Editor’s note: Bold added for emphasis)

Obviously 2010 came and went… and the good ol’ U.S. of A. remains intact.

But I can’t help but wonder if Panarin’s prediction might not be in the same category as an infamous forecast made by the American financial analyst Meredith Whitney about a wave of municipal defaults. I wrote back on December 22, 2010:

Last night Whitney, now CEO and founder of Meredith Whitney Advisory Group, appeared on CNBC and warned that a wave of defaults by state and local governments in the coming months will cause a sell-off in the municipal bond market, hurting U.S. economic growth and stocks- and causing social unrest

I blogged a year-and-a-half later:

Whitney will eventually be vindicated about the wave of defaults (her timing was just off)…

“Her timing was just off”

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information contained herein.)

Sources:

Armstrong, Martin. “The Termination of Cash Approaching Rapidly.” Armstrong Economics Blog. 24 Nov. 2016. (https://www.armstrongeconomics.com/world-news/taxes/the-termination-of-cash-approaching-rapidly-the/). 1 Dec. 2016.

Osborn, Andrew. “As if Things Weren’t Bad Enough, Russian Professor Predicts End of U.S.” The Wall Street Journal. 29 Dec. 2008. (http://www.wsj.com/articles/SB123051100709638419). 1 Dec. 2016.

Share

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Thursday, December 1st, 2016 Asia, Bonds, Civil Strife, Class Warfare, Crash Prophets, Currencies, Defaults, Europe, Government, Immigration, North America, Political Parties, Revolution, Stocks, Wall Street, War, Wealth Comments Off on Martin Armstrong: ‘The United States Will Most Likely Break Apart By 2036’

James Rickards: Gold Other Money That Renders Central Bank Power ‘Meaningless’

The “Quote For The Week” runner-up. From American investment banker, risk manager, attorney, and financial commentator James Rickards, in a recent interview with Schiff Gold’s Albert K. Lu:

I actually think of gold as money. Money is different from an investment or a commodity, so, is gold a commodity? Is it an investment? Is it money? Well, it depends a little bit. Like a chameleon, it changes color. I think of it as money. But I think that’s why there is such bitter opposition, and so many really canards and made-up stories, anti-gold. These come from the PhDs. Whoever controls money controls the world. You control wealth, you control politics; you control who wins and who loses. It’s a very powerful thing to control.

Who controls money today? The answer is the central banks, and those are all PhDs, they come from MIT, Harvard, Chicago, Stanford, just a really small number of universities. They all know each other. It’s a club. Well, if you were in this PhD club that controls the central banks, you wouldn’t want people to even think about gold. You wouldn’t want them to talk about gold, because gold is the competition. Gold is the other money that can render their power meaningless. And so they perpetuate these myths about gold. Unfortunately, a lot of students, a lot of journalists, a lot of everyday citizens follow the leader, follow these PhDs without ever examining the assumptions…

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on information found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

Rickard’s new book…

Share

Tags: , , , , , , , , , , , , ,

Monday, April 11th, 2016 Banking, Commodities, Crash Prophets, Education, Federal Reserve, Government, Investing, Main Street, Mainstream Media, Precious Metals, Quote For The Week, Wealth Comments Off on James Rickards: Gold Other Money That Renders Central Bank Power ‘Meaningless’

Signs Of The Time, Part 98

“Well, if they’re in Illinois today, they’re probably so much in love with Illinois that they’re not going to leave”

-Illinois Speaker of the House Michael Madigan, on whether a proposed tax hike on millionaires might drive them from the state, Chicago Tribune website, March 21, 2014

According to a report last month from the Johannesburg, South Africa-based research firm New World Wealth, about 3,000 individuals with net assets of $1 million or more, not including their primary residence, moved out of Chicago in 2015. From the March 2016 report entitled “Millionaire migration in 2015”:

The following cities had the biggest net outflows of millionaires in 2015

Country/Outflow of millionaires in 2015/Millionaires, 2015/% lost

1. Paris, 7 000, 126 000, 6%
2. Rome, 5 000, 73 100, 7%
3. Chicago, 3 000, 134 000, 2%

Destinations:

• Paris: most moved to the UK, USA, Canada, Australia and Israel.
• Rome: most moved to the UK and USA.
Chicago: most moved to other parts of USA (internal migration)

Why did they leave?

We interviewed migration experts and HNWIs to find out on their reasons for leaving. Notable reasons that they mentioned included:

• Paris: Rising religious tensions, lack of opportunities.
• Rome: Economic slump, lack of opportunities.
Chicago: Rising racial tensions, rising crime levels

(Editor’s note: Bold added for emphasis)

Shocking, right?

The entire report can be view on the New World Wealth website here.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Share

Tags: , , , , , , , , , , , , ,

Illinois Tax Hikes Coming Warn Municipal Bond Fund Managers

Talk of rapidly-approaching tax hikes in the “Land of Lincoln” is growing. Reuters’ Nick Brown, Megan Davies, and Karen Pierog reported yesterday:

With no easy way to financially engineer or negotiate its way out of a budget and pensions crisis, Illinois is likely to dish out some unpleasant medicine to its residents in the next few years. And investors say that is most likely to come in the form of higher taxes.

Given the Democrats’ control of the state legislature and their opposition to many proposals for spending cuts, municipal bond fund managers see little alternative for Republican Governor Bruce Rauner other than eventually agreeing to hike taxes, such as raising the state’s income tax or broadening its sales tax base…

(Editor’s note: Bold added for emphasis)

Regular readers of Survival And Prosperity shouldn’t be surprised when the hikes (fees, fines, and taxes) arrive, as they’ve been discussed on this blog for quite some time now. The tragedy is that Springfield continues to waste time and resources on trivial matters while neglecting to tackle crucial issues like the well-publicized debt crisis. Monique Garcia and Kim Geiger reported on the latest nonsense preoccupying the politicians. From the Chicago Tribune website this afternoon:

Democratic Speaker Michael Madigan’s effort to ask voters to approve a measure to impose higher income taxes on millionaires failed in the House on Thursday, but provides the powerful Southwest Side politician ammunition to attack Republicans in next year’s legislative campaigns.

The proposal needed 71 “yes” votes to pass, but received just 68. But now there’s a roll call, and Madigan’s Illinois Democratic Party could send out mailers criticizing Republicans who voted against the idea. Democrats already have sent out attack ads against Republicans who did not vote in favor of a property tax freeze last week

(Editor’s note: Bold added for emphasis)

Games. Stupid political games as the state’s “financial reckoning day” fast approaches.

By the way, back on March 24 of last year I blogged about that push for a “millionaire’s tax” in Illinois. My prediction now is pretty much the same as it was a year ago:

Should Illinois Democrats jack up their income taxes, I suspect the number of Illinois millionaires right before the tax hike is implemented will plummet. Revenue will follow. Out-of-state vacation homes in Indiana and Wisconsin will be declared as primary residences.

The only difference being, I forgot to mention Michigan vacation homes.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Sources:

Brown, Nick, Davies, Megan and Pierog. “As Illinois runs out of options in budget crisis, tax rises seen in the cards.” Reuters. 20 May 2015. (http://news.yahoo.com/illinois-runs-options-budget-crisis-tax-rises-seen-051616644.html). 21 May 2015.

Garcia, Monique and Geiger, Kim. “Madigan’s ‘millionaire tax’ question fails in House.” Chicago Tribune. 21 May 2015. (http://www.chicagotribune.com/news/local/politics/ct-rauner-warns-of-long-overtime-20150521-story.html). 21 May 2015.

Share

Tags: , , , , , , , , , , , , , , , , , ,

Friday, May 22nd, 2015 Debt Crisis, Fiscal Policy, Government, Political Parties, Socialism, Spending, Taxes, Wealth Comments Off on Illinois Tax Hikes Coming Warn Municipal Bond Fund Managers

Chicago Should Prepare For Baltimore-Style Civil Unrest

Have any readers been following what’s been going on in Baltimore as it concerns the protests and riots over the death of Freddie Gray?

Do Chicago-area readers think such civil strife could happen here someday?

It’s happened before. And considering the potential flash points that currently exist (ongoing racial tension, limited economic opportunities in lower class neighborhoods, growing divide between the economic/political elite and everyone else) which could be sparked by intense financial pain as the business cycle inevitably turns down and/or some crisis, I think it could definitely happen again. I’m not the only one. Early Tuesday I was watching the WGN morning news when Corey Brooks, Senior Pastor at New Beginnings Church of Chicago, came on. The South Side reverend advised:

I’m hoping and praying that it never happens in Chicago. But it would be best if we would prepare.

“But it would be best if we would prepare”

Amen to that.


“Chicago Pastor Corey Brooks headed to Baltimore to help stand against violence”
WGN News Video

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Share

Tags: , , , , , , , , , , , , , , ,

Thursday, April 30th, 2015 Civil Strife, Class Warfare, Employment, Poverty, Preparedness, Recession, Wealth Comments Off on Chicago Should Prepare For Baltimore-Style Civil Unrest
Survival And Prosperity
Est. 2010, Chicagoland, USA
Christopher E. Hill, Editor

Successor to Boom2Bust.com
"The Most Hated Blog On Wall Street"
(Memorial Day Weekend 2007-2010)

PLEASE RATE this blog HERE,
and PLEASE VOTE for the blog below:



Thank you very, very much!
Advertising Disclosure here. Ad captions last reviewed/updated 4/18/17.
ANY CHARACTER HERE
Freeze Dried Food SPRING ADDITIONAL 15% DISCOUNT (promo code- home page); Free Gift w/ Purchase; Free Shipping (domestic orders). Review coming soon.
ANY CHARACTER HERE
Family-Owned & Operated in Chicago Suburbs! SAVE 10% OFF ALL ITEMS (promo code- home page); Free Shipping (U.S. orders) & Returns. Review coming soon.
ANY CHARACTER HERE
Buy Gold And Silver Coins BACK-DATED SILVER & GOLD EAGLE SALE!; Secondary Market Silver Coin/Bar Sale (1 oz. coins, 10 oz., & 100 oz. bars); 90% Silver U.S. Dimes & Quarters Sale; U.S./World Gold Bullion Coins/Bars also on sale; Free Shipping on U.S. orders $99 and up (only $5.95 below $99!). BGASC reviewed HERE.
ANY CHARACTER HERE
BullionVault World's Largest Online Investment Gold Service taking care of $2 billion for over 65,000 users from 175 countries. BullionVault.com reviewed HERE.
ANY CHARACTER HERE
SAVE 20% OFF ALL CASE PACKS!; BUY 3-MONTH SUPPLY GET BREAKFAST KIT FREE!; Big Savings on "Deal Of The Day" page; Free Shipping on orders over $79. MyPatriotSupply.com reviewed HERE.
ANY CHARACTER HERE
bullet proof vestsWorld's First Bulletproof Baseball Cap only $129; Bulletproof Ceramic Plate (NIJ Level III Stand-Alone) only $169; Bulletproof Backpack/Messenger Bag Panel only $99. BulletSafe reviewed HERE.
ANY CHARACTER HERE
Survival Titles Save 20% SAVE 35% ON SURVIVAL TITLES! (promo code- home page); Discontinued Title Sale- Savings up to 75% Off Original Price. Paladin Press reviewed HERE.
ANY CHARACTER HERE
This project dedicated to St. Jude
Patron Saint of Desperate Situations



happyToSurvive

Categories

 

Archives

RSS Chris Hill’s Other Blog: Offshore Safe Deposit Boxes

  • Degussa Singapore Launches YouTube Channel
    It’s been some time since I last blogged about the first Asian branch of Degussa, a leading international player in the precious metals world. Degussa Singapore opened its doors at 22 Orchard Road in October 2015 and operates a safe deposit box service in addition to selling bullion bars, coins, and precious gifts. Yesterday I […]
  • Nomad Capitalist’s 5 Best Countries For Offshore Gold Storage
    Research related to Monday’s post about precious metals storage in Singapore led me to a piece published last fall by Andrew Henderson over on the Nomad Capitalist website. I’ve mentioned Andrew and his company before on the blog, but for those readers not familiar with them, Henderson is the founder and managing partner of Hong […]
  • Singapore’s ‘Strong’ Precious Metals Storage Infrastructure Anchors Trading Hub Push
    It’s no secret that Singapore has become a global leader in the storage and safekeeping of private wealth. In fact, the last mention of the Southeast Asian city-state on this blog concerned a December 12, 2016, article on the The Business Times (Singapore) website which noted privately-owned precious metals from around the world are finding […]
  • List Of Offshore Private Vaults Updated
    The list of private, non-bank vaults outside the United States (offering safe deposit boxes/lockers at a minimum) located on this blog’s sister site- Offshore Private Vaults- was recently updated. Safe deposit facilities now open for business have been added under the following countries: -Hong Kong (Royal England Safe Deposit Box Ltd.) -Thailand (Magna Carta Law […]
  • Next Degussa Numis Day To Take Place May 4, 5
    Degussa, a leading international player in the precious metals world which also offers safe deposit boxes (for customers) at branches in Germany, Singapore, Spain, and Switzerland, has just posted information about their next Numis Day (first blogged about here) at their Geneva and Zurich showrooms. From their website: The Next Numis Day We appreciate and […]