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  • May 26, 2013 at 9:08 AM #762226
    Allan from Fallbrook
    Participant

    Anyone gonna bring up the $9.4 billion in unfunded pension liability?

    May 26, 2013 at 4:55 PM #762229
    CA renter
    Participant

    [quote=Allan from Fallbrook]Anyone gonna bring up the $9.4 billion in unfunded pension liability?[/quote]

    That’s part of what I was talking about in my post up above. It can be a relatively easy fix.

    Also, that could be a $9.4B liability, or much, much less (or more). Again, the #1 reason for the pension liabilities is the Federal Reserve’s asinine boom-bust maneuvers.

    May 27, 2013 at 9:30 AM #762237
    Allan from Fallbrook
    Participant

    Hey, things could be worse. Apparently, the mayor of Toronto, Rob Ford, is a crackhead.

    So there’s that.

    May 27, 2013 at 1:59 PM #762239
    no_such_reality
    Participant

    .

    May 28, 2013 at 6:54 AM #762243
    The-Shoveler
    Participant

    [quote=Allan from Fallbrook]Anyone gonna bring up the $9.4 billion in unfunded pension liability?[/quote]

    No fan of Villaraigosa but the city was on its way to big trouble long before he got in office, he just got there in time to put some blame on.

    $9.4 Billion for a city with a total revenue of about 3 billion is daunting enough but that is assuming 7.5% or so return, if you do the numbers with a more realistic long term return of a little less than 4-5% Then you are looking at about $26 billion short fall.

    Trying to pay that down with a $3 billion revenue (when times are good!!!) is just not really feasible,
    They better hope there is no recession or housing bust (that would impact revenue) in the next 20 years or so !!!

    More businesses leave L.A. every day, I have not heard of any returning.

    Oh yea, sales tax is about 10% in L.A. county.

    May 28, 2013 at 8:27 AM #762247
    no_such_reality
    Participant

    LA’s problem is really simple. Countywide, 10% of the adult population has no legal status for being in the country. In some communities, that ratio goes above 30%.

    Couple that non-legal status across the communities with many enclaves of people coming from places that are even more corrupt and have even lower respect for life, and you have LA’s formula for problems.

    May 28, 2013 at 12:59 PM #762256
    Anonymous
    Guest

    [quote=Allan from Fallbrook]Hey, things could be worse. Apparently, the mayor of Toronto, Rob Ford, is a crackhead.

    So there’s that.[/quote]

    I believe the preferred term is “crack aficionado”…

    http://tinyurl.com/oqhqccb

    May 28, 2013 at 2:19 PM #762257
    Allan from Fallbrook
    Participant

    [quote=DriveByLurker][quote=Allan from Fallbrook]Hey, things could be worse. Apparently, the mayor of Toronto, Rob Ford, is a crackhead.

    So there’s that.[/quote]

    I believe the preferred term is “crack aficionado”…

    http://tinyurl.com/oqhqccb%5B/quote%5D

    Are you sure? I was under the impression that “aficionado” only applied to the upmarket stuff, like cocaine.

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