A Risky Addition to an Otherwise Decent Dodd-Frank Reform: Part II

By ymgerman @ Shutterstock.com

Yesterday I wrote to you about a risky change classifying municipal bonds as “high quality liquid assets.” That change, though simple, could lead to increased spending by states and cities. This is obviously a danger given many states’ indebted status, take for example the state of Illinois. A spiral of debt and taxes is driving residents out of the state, which in turn is worsening the state’s revenue problem. Ben Bradley reports for WGN9 news from Chicago:

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33,703.

That’s how many residents left Illinois last year.

People leave the state for a variety of reasons from weather to career opportunities.

But experts say Illinois’ population loss bucks national trends and is the opposite of what surrounding states are seeing.

WGN Investigates traveled to Nashville, Tennessee to catch up with Chicagoans who made the move for financial reasons. How did they know it made sense? Do they have any regrets?

E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.