San Bernardino

Quote For The Week

“So the San Bernardino, California, terrorist attack (pretty pathetic how some tried real hard to paint this as merely workplace-related violence) wasn’t exactly ‘major,’ and anyone with at least half-a-brain should have seen this coming. But the Muslim extremists are here, and they will strike again at the ‘homeland’ on the level of what just happened out on the ‘Left Coast’ (all that gun ‘control’ didn’t work out too well for California in this instance) all the way up to another 9/11-type attack with thousands of Americans dead…”

-Christopher E. Hill, Survival And Prosperity, December 8, 2015

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

Share

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

Monday, June 13th, 2016 Crime, Firearms, Gun Rights, Middle East, Public Safety, Quote For The Week, Religion, Self-Defense, Terrorism, War Comments Off on Quote For The Week

Survival And Prosperity Terrorism Warnings

Regular Survival And Prosperity readers may recall some of these more recent terrorism warnings- and the despicable events that took place around the time the statements were made:

“Something tells me our friends in Western Europe might suffer a major terrorist attack before a strike against the United States…”

Survival And Prosperity, November 4, 2014

Charlie Hebdo terrorist attack, January 7, 2015

“I still predict major terrorist attacks having the potential of inflicting large numbers of casualties will be directed against America and its allies in the future. The possible culprits being several, but including Muslim extremists like Al-Qaeda and its affiliates…”

Survival And Prosperity, January 7, 2015

November 13, 2015, Paris, France, terrorist attacks

“After the carnage in France, America and her allies remain in the crosshairs of the terrorists…”

Survival And Prosperity, November 13, 2015

“I too believe it’s only a matter of time before a major terror attack is launched by jihadists against the U.S…”

Survival And Prosperity, December 1, 2015

San Bernardino, California, terrorist attack, December 2, 2015

“So the San Bernardino, California, terrorist attack (pretty pathetic how some tried real hard to paint this as merely workplace-related violence) wasn’t exactly ‘major,’ and anyone with at least half-a-brain should have seen this coming. But the Muslim extremists are here, and they will strike again at the ‘homeland’ on the level of what just happened out on the ‘Left Coast’ (all that gun ‘control’ didn’t work out too well for California in this instance) all the way up to another 9/11-type attack with thousands of Americans dead…”

Survival And Prosperity, December 8, 2015

Brussels, Belgium, terrorist attacks, March 22, 2016

These days, my gut feeling tells me the jihadists will strike Europe (which includes Russia) again before the United States. Although I’ve read some material about a possible attack against the American “homeland” on or before Election Day.

More later…

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

Share

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

Wednesday, March 30th, 2016 Europe, Gun Rights, Preparedness, Public Safety, Religion, Security, Self-Defense, Terrorism, War Comments Off on Survival And Prosperity Terrorism Warnings

Bill Introduced To Permit Illinois Municipalities To File For Bankruptcy

Since I started blogging about a U.S. financial crash back on Memorial Day Weekend 2007, I’ve believed one casualty will be municipal government. Particularly in Illinois. So imagine my non-surprise when I spotted an article on the Chicago Tribune website a couple of days ago about proposed legislation at the state level granting Illinois towns the authority to file for bankruptcy. Nick Swedberg of the Associated Press wrote on March 26:

Stressed by pension debt, other financial issues and the possibility losing a chunk of their state aid, some Illinois cities want the option to file for bankruptcy. They’ve found an ally in a Republican lawmaker, who’s proposed legislation to allow municipalities to follow in the footsteps of Detroit and other cities in restructuring debt and paying back creditors…

Rep. Ron Sandack is sponsoring legislation that would grant authority for communities to file for bankruptcy under Chapter 9 of the federal code. The Downers Grove Republican says it’s a “measure of last resort,” especially with Gov. Bruce Rauner’s proposal in next year’s budget to cut in half the local governments’ share of state income taxes by 50 percent.

“It’s just giving time and space to do things right,” he said…

Swedberg added later in the piece:

Municipal bankruptcies are rare, NCSL data shows. Of 37 local government filings since 2010, only 8 were cities, with the majority filed by utilities and special districts.

Detroit filed for the nation’s largest municipal bankruptcy in July 2013, looking to restructure $12 billion of debt…

It’s true. Municipal bankruptcies haven’t happened too often. But keep in mind what Eric Weiner wrote on the NPR website back on February 28, 2008:

For most of U.S. history, cities and towns were not eligible for bankruptcy protection. But during the Great Depression, more than 2,000 municipalities defaulted on their debt, and they pleaded with President Roosevelt for a federal bailout. “All they got was sympathy,” reported Time magazine in 1933. Instead, Roosevelt pushed through changes to the bankruptcy laws that allows towns and cities to file for bankruptcy. They even got their own section of the bankruptcy code: Chapter Nine…

(Editor’s note: Bold added for emphasis)

There’s also this from Robert Slavin on The Bond Buyer website back on January 14:

For the municipal bond industry, 2015 marks the midpoint in what may turn out to be the decade of the bankruptcy.

Four of the five largest municipal bankruptcy filings in United States history have been made in roughly the last three years, a trend analysts attribute to the aftereffects of the 2008 credit crisis and Great Recession, as well as changing attitudes about debt.

“The crash of 2008 and five years of stagnation preceded by years of escalating wages, pensions and Other Post-Employment Benefits set the stage for our recent Chapter 9 filings,” said Arent Fox partner David Dubrow.

Chapter 9 municipal bankruptcy was adopted in 1937 but had been rarely used, particularly by large governments. However, since November 2011 San Bernardino, Calif., Stockton, Calif., Jefferson County, Ala., and Detroit have filed four of the five largest bankruptcies as measured by total obligations.

(Editor’s note: Bold added for emphasis)

Could the specter of Meredith Whitney, the “Diva Of Doom,” be returning to take revenge on the municipal bond industry?

I’m not surprised Illinois municipalities would be interested in House Bill 298. From Patrick Rehkamp and Andrew Schroedter on the website of the Chicago-based Better Government Association back on December 6, 2014:

Reasons for filing vary but often include troubled public development projects, unanticipated hefty legal judgments against a taxpayer-backed entity, or massive pension and bond debt payments that leave a municipality cash-strapped and unable to cover operating costs of employee salaries, vendor payments and other expenses.

(Editor’s note: Bold added for emphasis)

The public pension crisis in Chicago and Illinois has been well-publicized for some time now. And while such entitlements are supposedly protected by a provision in the 1970 Illinois Constitution, the BGA noted in their piece:

In Illinois, public employee pensions are guaranteed by the state constitution. But in the Detroit and Stockton, California bankruptcy cases, federal judges have ruled that pension benefits can be adjusted, the same as other debts, despite a constitutional guarantee.

(Editor’s note: Bold added for emphasis)

You can track the progress of HB 298 on the Illinois General Assembly website here.

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

Sources:

Swedberg, Nick. “Bill pushes for possible municipal bankruptcies in Illinois.” Associated Press. 29 Mar. 2015. (http://www.chicagotribune.com/news/sns-bc-il–closer-look-bankruptcy-20150329-story.html). 3 Apr. 2015.

Weiner, Eric. “What Happens When City Hall Goes Bankrupt?” NPR. 28 Feb. 2008. (http://www.npr.org/templates/story/story.php?storyId=60740288). 3 Apr. 2015.

Slavin, Robert. “Why So Many Big Bankruptcies?” The Bond Buyer. 14 Jan. 2015. (http://www.bondbuyer.com/news/markets-buy-side/why-so-many-big-bankruptcies-1069539-1.html). 3 Apr. 2015.

Rehkamp, Patrick and Schroedter, Andrew. “Next Up: Illinois Municipal Bankruptcy?” Better Government Association. 16 Dec. 2014. (http://www.bettergov.org/next_up_illinois_municipal_bankruptcy/). 4 Apr. 2015.

Share

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

Sunday, April 5th, 2015 Bankruptcy, Credit, Debt Crisis, Defaults, Depression, Entitlements, Government, Legal, Political Parties, Recession, Taxes Comments Off on Bill Introduced To Permit Illinois Municipalities To File For Bankruptcy

More Homicides Happening In ‘Nice’ Places

On the topic of homicides this morning, here’s something I hear being said more these days…

That kind of thing usually doesn’t happen around here.

Or something along those lines.

Consider the following from Gene Blevins and Eric Johnson on Reuters.com this morning:

Four shot dead in ‘nice’ California suburb – police

The bodies of four gunshot victims were found outside a single-family home being used as a boarding house in a normally peaceful suburb of Los Angeles early on Sunday morning, police said…

Shootings are uncommon in the suburb in the San Fernando Valley region, [Los Angeles Police Department spokeswoman Terri Brinkmeyer] said.

“It’s a nice, middle-class neighborhood,” she said.

“Nice.” “Uncommon.” Sound familiar?

Sadly enough, many of us are probably going to hear this stuff being uttered with increasingly regularity as the financial crash draws closer.

As the economy worsens, government budgets will most likely suffer (again) as well, making it difficult to maintain those levels of public safety many of us have grown accustomed to over the years.

In some areas of the country, this situation is already happening. Consider the case of San Bernardino, California. From the CBS Los Angeles website Friday:

City Attorney Tells San Bernardino Residents To ‘Lock Their Doors,’ ‘Load Their Guns’ Because Of Police Downsizing

The city attorney of San Bernardino is under scrutiny for telling residents to “lock their doors and load their guns” during a city council meeting.

The official explained that because the city is bankrupt and slashing public safety budgets people will need to start protecting themselves.

City Attorney Jim Penman said he doesn’t regret what he said…

“Well, if I remember right, I told them to ‘lock their doors and load their guns,’” Penman said.

According to CBS Los Angeles, San Bernardino has cut its police force by about 80 officers as it deals with bankruptcy, and has seen a 50 percent increase in murders in 2012 as compared to last year.

San Bernardino’s experience reminds me of something I wrote all the way back on only the third day of this blog’s existence. From November 24, 2010:

A 25-year veteran of the Toldeo (Ohio) Police Department offered this advice (via FOX’s Toledo affiliate) to residents last year prior to 75 officers being let go by the city:

If I’m an average citizen of Toledo, I definitely would be concerned… Tell people to buy guns. Invest in precious metals – lead, gun powder and brass.

The senior police officer added:

The gang element and the criminal element are getting a little bolder because they know there’s not enough officers out there.

Other law enforcement personnel have shared the same advice with their residents since the onset of the financial crisis.

As the case of San Bernardino shows, similar warnings have been issued since that time, highlighting the importance of the individual taking responsibility for their own safety.

I’ll leave you with what I left those earliest of readers back in November 2010:

This last thought about the individual being ultimately responsible for their own personal protection is hammered home by John S. Farnam, a long-time defensive firearms instructor and deputy sheriff (training officer) in the Park County, Colorado, Sheriff’s Office. In The Farnam Method of Defensive Shotgun and Rifle Shooting, the founder and president of Defense Training International wrote:

It is said by enlightened social scientists, “If it rained twenty-dollar bills every Monday morning, there would still be people begging for their dinner ever Monday evening!” The same is true with criminals. No matter how “civilized” or indulgent our society becomes, there will always be criminals. And, the more foolishly dependent we all become upon governmental institutions as the only means of preserving civil order, the more dubious our continued existence becomes, and the more quickly order will disintegrate when our societal underpinnings are crippled or even imperiled. When citizens become additively dependent on an eleemosynary and paternal government to do for them what they could be, and, of right, ought to be, doing for themselves, that civilization’s days are surely numbered. Never forget, regardless of how politically incorrect it may sound to the uninformed, your personal security is always your responsibility, and yours alone!

“Your personal security is always your responsibility, and yours alone!”

Sources:

Blevins, Gene and Eric Johnson. “Four shot dead in “nice” California suburb- police.” Reuters. 3 Dec. 2012. (http://www.reuters.com/article/2012/12/03/us-usa-crime-shooting-idUSBRE8B20AY20121203). 3 Dec. 2012.

“City Attorney Tells San Bernardino Residents To ‘Lock Their Doors,’ ‘Load Their Guns’ Because Of Police Downsizing.” CBS Los Angeles. 30 Nov. 2012. (http://losangeles.cbslocal.com/2012/11/30/city-attorney-tells-san-bernardino-residents-to-lock-their-doors-load-their-guns-because-of-police-downsizing/). 3 Dec. 2012.

Share

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

Monday, December 3rd, 2012 Bankruptcy, Crime, Debt Crisis, Firearms, Fiscal Policy, Government, Public Safety, Self-Defense, Spending Comments Off on More Homicides Happening In ‘Nice’ Places

Three California Cities File For Bankruptcy In Less Than Two Weeks

Stockton, Mammoth Lakes, now San Bernardino.

Three California cities that have filed for bankruptcy in less than two weeks.

Is the prediction by Meredith Whitney, aka the “Diva of Doom,” about a wave of municipal defaults finally coming to fruition?

From NBC Los Angeles on the MSNBC website this morning:

San Bernardino became the third California city in less than two weeks to file municipal bankruptcy protection Tuesday night when the city council voted to make the move in the face of a $45-million budget shortfall…

Officials in Stockton said their June decision to seek federal bankruptcy protection was the “only choice” for the city that was unable to reach finance agreements with creditors to address a $26 million budget shortfall…

On July 4, Mammoth Lakes sought bankruptcy protection from a $43 million court judgment, according to Bloomberg News.

NBC Los Angeles staff pointed out:

In the six decades since Congress created bankruptcy protection for cities, fewer than 500 municipal bankruptcy petitions have been filed, according to the United States Courts website.

As much as I hate to say it, it’s my belief there will be a lot more local governments filing for bankruptcy before this ongoing economic mess is all sorted out. And Whitney will eventually be vindicated about the wave of defaults (her timing was just off). I come across stories about distressed municipalities on a daily basis out in cyberspace. The city that’s grabbing the headlines the last couple of days is Scranton, Pennsylvania. From Perry Chiaramonte on the FOX News website Monday:

Employees of a Pennsylvania city, who have all seen their salaries cut to minimum wage as the mayor grapples with budget problems, are hoping a judge restores their paychecks in full.

Scranton Mayor Chris Doherty cut everyone’s pay — including his own — on Friday, saying the state’s sixth-largest city is broke because the City Council blocked his proposed tax increase. Doherty, a Democrat, warned nearly 400 police officers, firefighters and public works employees about his doomsday plan, prompting a Lackawanna County judge to order the city to pay full wages to all employees, citing that it is a violation of their contracts. Hours later, the payday envelopes went out, and, despite the judge’s order, they were light…

The city of Scranton has battled budget woes for years, but the problems reached a boiling point after the City Council blocked Doherty’s plan to raise taxes to cover a $16.8 million shortfall, opting instead to borrow money to cover the budget gap.

More to come (I’m sure)…

Sources:

“San Bernardino becomes 3rd Calif. city in 2 weeks to file for bankruptcy protection.” MSNBC. 11 July 2012. (http://usnews.msnbc.msn.com/_news/2012/07/11/12675262-san-bernardino-becomes-3rd-calif-city-in-2-weeks-to-file-for-bankruptcy-protection?lite). 11 July 2012.

Chiaramonte, Perry. “Pennsylvania city workers to take mayor to court over across-the-board minimum wage salaries.” FOX News. 9 July 2012. (http://www.foxnews.com/politics/2012/07/09/political-statemate-leads-to-city-workers-salaries-cut-down-to-minimum-wage-in/). 11 July 2012.

Share

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

Wednesday, July 11th, 2012 Bankruptcy, Defaults, Deficits, Government Comments Off on Three California Cities File For Bankruptcy In Less Than Two Weeks
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 […]