Wednesday, December 7, 2016

Says Moody

Well, the most bankrupt cities. To get scale, note the Dallas pension run continues, worse than ever, as the mayor filed suit. So Chicago is a goner, pack the bags time.  Texas snuck this in on us during the second Bush term, the five Texas cities owe about 22 billion.  LA will be in crisis next year, they will easily jump to Dallas levels.  Detroit still up there even after writing off a bunch of liabilities.

Now, in the crunch, these cities have to turn to short term funding, and  the one year rate has risen four times already in one year.  LA cannot do it, Jerry Brown and Janet know this. Sometime in a few month, when Swamper in Chief calms down, Schumer will relay the bad news.

CityLiability as % of annual operating revenues
Chicago, IL719%
Dallas, TX549%
Phoenix, AZ434%
Houston, TX414%
Los Angeles, CA407%
Jacksonville, FL369%
Detroit, MI364%
Columbus, OH278%
Austin, TX267%
Philadelphia, PA223%
Honolulu, HI (city and county)221%
San Antonio, TX188%
Kansas City, MO175%
Memphis, TN167%
San Francisco, CA (city and county)151%

No comments: