It’s foolish to think that garnishments are going to solve anything. Taxpayers in municipalities across the state – who already pay the highest property taxes in the nation – have been putting more and more money into pensions, only to watch the funds continue to deteriorate.
Despite a doubling of taxpayer contributions since 2005, police and fire pension debts have doubled to $10 billion instead of shrunk, while funding ratios have fallen.
HT – Tyler Durden at ZeroHedge.
Source: Michael Hudson: Are Students a Class? | naked capitalism
“Debt is not just a credit instrument, it is an instrument of political and economic control.”
Every now and then you stumble upon an article that effectively changes your world view.
Every city wants to have a strong local economy, high quality of life and housing affordability for its residents. Unfortunately these three dimensions represent the Housing Trilemma. A city can achieve success on two but not all three at the same time.
Source: The Housing Trilemma | Oregon Office of Economic Analysis
Check out the graphic above courtesy of the Oregon Office of Economic Analysis. I may have been biased about life in the middle but never had the facts to back up my opinions. But after reading this article I now have facts. This analysis demonstrates a city can have success on two fronts, but rarely on all three.
I started life in New York and grew up in New Jersey. A sizeable amount of time was also spent in Dallas. For over a decade I’ve held the belief that my family could not replicate our lifestyle and quality of life anywhere else in the country. Well, I admit to being wrong. We could probably do as well in Cincinnati, Omaha, or Des Moines.
If you can stand the weather, OKC is not a bad place to live in.
HT – Calculated Risk.
So, How Do You Think This Movie Will End?
The two charts you’ll discover through this link were so scary I was unable to copy and insert into this post.