AUTHOR: TOWNE SCHERER.COM/BLOG5/16/2019: TowneScherer Private Wealth Management BLOG:
American Cities in Debt
‘Deluged in municipal debt’ are America’s 10 largest cities, reports FOXNEWS, 5/15/2019. In particular, the article calculated the taxpayer burden of Chicago at $119,110 and New York at $85,600 per taxpayer. Additionally, Forbes, in the article, says Chicago’s unfunded retirement obligations are $39 billion in retirement benefits with $28 billion in pension and $842.9 million in retiree healthcare benefits unfunded. Further, the article noted that these cities are Democrat strongholds.
Tariffs on China Goods
‘$200 Billion in tariffs on Chinese goods’ were increased from 10% to 25% after trade talks failed to reach an agreement, says FOXNEWS, 5/12/2019. According to Larry Kudlow, the Trump White House top economic advisor, intellectual property theft, forced technology transfer ownership of American companies, cyber interventions, tariff and nontariff barriers need to be fixed. Kudlow remarked that they continue to be in talks with China and that new talks will be scheduled. In this environment the Dow pulled back nearly 1000 points but has flatted in recent days.
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The opinions expressed in this material do not necessarily reflect the views of LPL Financial and based on the political content of this material are for general information only and are not intended to provide specific advice or recommendations for any individual. The economic forecasts set forth in this material may not develop as predicted. All indices are unmanaged and may not be invested into directly.
Russell E. Towne, LPL Financial Advisor, is a registered representative with and Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.