Wednesday, November 30, 2016


"It’s not a good situation," said Mayor Bill de Blasio. "It’s going to cost the city a lot of money."
Days before that, Mayor Bill de Blasio delivered some worrying news.
The city's pension funds were not meeting expectations. The city would have to prop them up.
"It's going to be almost three-quarters of a billion dollars – $722 million over the next few years combined," de Blasio said. "So it’s going to be a real negative impact on our budget."
That's because the city's approximately $170 billion pension fund grew just 1.5 percent in the last fiscal year, which ended in June.

And the economy there cannot depend on Asian teal estate deals after their bubble burst.  Most of their economy remains finance and most of that is regulation.  Now they are unsustainable, the Rust Belt wave looms in front and homeless in LA is the end point.

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