"Loyalty to the Nation all the time, loyalty to the Government when it deserves it." ~ Mark Twain
By Catherine Austin Fitts
This week on The Solari Report, economist Bill Bergman, Research Director of Truth in Accounting, joins me for discussion of Truth in Accounting’s new report The Financial State of the States 2020.
Not that long ago, most U.S. citizens could take state and local government stability for granted. No more. Understanding your state and local jurisdictions and their finances is becoming more and more important, a message that has been brought home many times during the events of 2020. Jurisdictional risk is real and growing with each passing month.
One important aspect is the financial soundness and management of your state or province. Truth in Accounting’s new report on state finances is an excellent source for U.S. citizens to understand quickly where their state stands. Looking to move? Make sure you move to a state that is in sound financial condition. The implications for property values, future taxes, essential services, public safety, and law and order can be profound. All across the United States and the world, homeowners are having the value of their properties devastated by failures of local law enforcement or poor governmental financial management, resulting in rising property taxes and deteriorating municipal services.
While Truth in Accounting’s work and this report focus on America’s fifty states, the report offers ideas relevant to citizens throughout the developed world about how to analyze the finances, debt, and contingent liabilities of their local jurisdictions.
In Let's Go to the Movies this week, take a look at The Real Dirt on Farmer John. It demonstrates one example of community-supported agriculture (CSA) and a community gathering to invest in land for lease to their CSA farmer.
There is no Money & Markets this week. If you have questions for Ask Catherine, please email or post them in the Money & Markets commentary for November 5th here.
Talk to you Thursday!
Mapping Your Local Financial Ecosystems
Related Solari Reports:
“Follow the Money” – Financial Transparency with William Bergman