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State Budget Shortfalls and Safety Deposit Boxes

by Trace Mayer, J.D. on January 4, 2009 · 10 comments

Reading time: 3 – 4 minutes

Mish has provided a great commentary on the Center on Budget and Policy Priorities report that State Budget Troubles Worsen.  In essence 44 states face budget shortfalls and they are estimated to persist until 2011.  I think the states will be lucky to see the economic pressure ease by then.  Most people do not understand the scope of the FRN$ Ponzi Scam.

Government always spends more than they take in.  Rarely is government spending ever cut.  This misallocation of capital and waste of resources is extremely damaging to society.  Nevertheless, those costumed in governmental regalia seem to think that they provide some type of value to society and that they are justified in lying, defrauding, intimidating and murdering any who disagree with or oppose their immoral conduct.  In almost all cases, governmental officials violate the Non-Aggression Axiom.

The State budget shortfalls will only continue to erode.  The more misallocations of capital are made and the more of society’s resources are wasted the longer and more painful the Greater Depression will be.  It is only through governmental intervention that the misallocations of capital happened to this large of a degree.

The United States has long been a socialistic country that thinks they are capitalistic.  For decades America has had a centrally planned economy through the unconstitutional legal tender laws and illegal Federal Reserve which attempts intervention of both the money supply and cost of money.  Government holds no solutions and is only making the situation worse the same way they did with the Great Depression.

How are the financial parasites going to continue their misallocation of capital and wasting of societal resources?  Well, they are going to lie, cheat, defraud, intimidate and murder in order to steal wealth to waste.  The following video is a great example of it happening.  Because all bankers are liars and frauds they should not be trusted.

For those in Pennsylvania who have lost the contents of their safe deposit boxes I would recommend checking auctions from the seller ‘pastatetreasury’ on EBay.

Delaware appears to be exceptionally proud of their increased revenues.  For examples these quotes come from the State of Delaware Comprehensive Annual Financial Report.

From page 10: “Key elements of the increase in net assets are as follows:

Total general revenues increased overall $168.1 million (5.1%) with significant increases in tax revenues and interest income. In addition, strong growth in … abandoned property collections, helped offset decreasing personal income tax growth.”

From page 14, ”Other non-tax revenue increased in fiscal 2007 by $66.3 million (16.9%) due to continued strength in abandoned property collections, which grew $39.8 million (12.2%).”

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10 comments

ABOUT THE AUTHOR: Trace Mayer, J.D., author of The Great Credit Contraction holds a degree in Accounting, a law degree from California Western School of Law and studies the Austrian school of economics. He works as an entrepreneur, investor, journalist and monetary scientist. He is a strong advocate of the freedom of speech, a member of the Society of Professional Journalists and the San Diego County Bar Association. He has appeared on ABC, NBC, BNN, radio shows and presented at many investment conferences throughout the world. This is merely one article of 241 by .
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{ 8 comments… read them below or add one }

1 David Neubert January 5, 2009 at 3:29 pm

The safe deposit thing is a bit scary.

2 Andrew Ator June 26, 2009 at 4:22 pm

Clearly the inability for men to sell women sex toys in the state of Texas has led to an enlightened state of mind for the treasury.

3 Trace Mayer, J.D. June 26, 2009 at 7:51 pm

Missing out on sales tax revenue eh? Makes you wonder what types of things are found in the safety deposit boxes and auctioned off.

4 Peter Muir September 9, 2009 at 12:40 am

How can they hijack soneone’s safeyty deposit box if the rental of the box is still being paid?

5 ScottinKorea November 18, 2009 at 9:01 am

Down with the fiat US dollar inflation scam and bogus banks. Come on gold and silver!

6 Paul Eade November 18, 2009 at 8:45 pm

Why are 2006, 2007, and 2008 missing from the graph? This omission destroys credibility of an otherwise important graph.

7 Debra December 3, 2009 at 6:01 pm

Hi, Trace. I attempted to forward this email as there are a number of people I’d like to have see this very serious warning about safe deposit boxes. I found that the links don’t work when the message is in the forwarding box. I THEN went in search of copyright info. and found yours at the bottom. Do you object to it being forwarded, exactly as it is, for no purpose other than warning family and friends? If you don’t object, can you tell me whether there’s any way to forward it with the links intact and functional? Thank you for your consideration of this request.

Debra

8 Trace Mayer, J.D. December 3, 2009 at 6:13 pm

Please, forward this to all your friends and family as it is an extremely important warning. I think the easiest ways would be to use the Email link at the end of the post. Or you can just forward them the URL:

http://www.runtogold.com/2009/01/state-budget-shortfalls-and-safety-deposit-boxes/

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