October 4, 2017 by SchiffGold
Peter Schiff, the gold and silver guru writes about the worsening economic conditions of Hartford, the capital of the state of Connecticut.
Hartford was going through budget and spending crisis for more than a decade, ultimately reaching a level where nations two rating agencies S&P and Moody's downgrading Hartford Economic condition to a Junk status, and the city might default on its obligations may further lead to bankruptcy as early as November. Schiff's piece came up just two days ago, but several days earlier, the WSJ published a report on the ratings on Sept28
WSJ: Hartford Downgraded Further Into Junk StatusSchiff digs further into how did the city of Hartford reached this stage, further expanding the understanding that not only city of Hartford, but the once wealthiest state of CT, the state as a whole is in trouble too, owning 3.5Billion debt and close to 70Billion in pension liabilities etc?... It does not look for the city or state economically and otherwise, what about other cities and states nationwide, read the piece here.....LINK
Moves by S&P and Moody’s cites increased likelihood of default as early as November
By Joseph De Avila
Two credit-ratings firms on Tuesday downgraded the city of Hartford further into junk status, citing an increased likelihood of default as early as November.
