New York City Joins The “Imminent Bankruptcy” Club


By Tyler Durden in Zero Hedge

The “public pension crisis” is the kind of subject that’s easy to over-analyze, in part because there are so many different examples of bad behavior out there and in part because the aggregate damage these entities will do when they start blowing up is immense.

But most people see pensions as essentially an accounting issue – and therefore boring – so it doesn’t pay to go back to this particular well too often.

Still, New York City’s missing $100 billion can’t be ignored.

Continue reading…


Posted in Controversial, New York City, Thought-Provoking Analysis

Three articles to read before you watch the election results come in tonight

Midterms road map: 10 races to watch on Election Night – CNN Politics 

House Update: Keeping An Eye On Democratic ‘Reach’ Districts – FiveThirtyEight

Major industries shift contributions from Republicans to Democrats ahead of election day – Open Secrets

Posted in Business, Congress, Democrats, Donald Trump, Elections, PAC, Republicans, Senate, United States

Trump’s International Ratings Remain Low, Especially Among Key Allies

By Richard Wike, Bruce Stokes, Jacob Poushter, Laura Silver, Janell Fetterolf and Kat Devlin of Pew Research

  • Most still want U.S. as top global power, but see China on the rise.
  • Fewer, especially in Europe, say U.S. respects individual liberty.
  • Few think the U.S. takes their interests into account.

Continue reading…

Posted in Controversial, Donald Trump, Europe, United States

Trump’s Nationalism Is Breaking Point for Some Suburban Voters, Risking GOP Coalition

By Jonathan Martin and Alexander Burns of the New York Times

Two years ago, the presidential election hinged in large part on a rightward shift among working-class whites who deserted Democrats.

Tuesday’s House election may turn on an equally significant and opposite force: a generational break with the Republican Party among educated, wealthier whites — especially women — who like the party’s pro-business policies but recoil from President Trump’s divisive language on race and gender.

The GOP is in danger of losing its House majority next week because Mr. Trump’s racially-tinged nationalism has alienated some voters who once made up a dependable constituency.

Continue reading…

Posted in Candidates, Congress, Democrats, Donald Trump, Elections, Republicans

Can the Republic Strike Back?

By Andrew Sullivan in New York Magazine’s Intelligencer

Whatever else it will be, Tuesday will be a relief. We will finally find out where we are in the surreal dystopia of the last two years. We will see, in a tangible way, what America now is.

These years have been overwhelmed and saturated by a single figure with no political experience, who won almost 3 million fewer votes than his opponent, has had consistently lower approval numbers than any of his recent predecessors, and speaks and acts in ways no previous president ever has.

He has cast a staggering spell over a hefty segment of the population, and he has earned the intense loathing of the rest. And for these very reasons, it has been tortuously hard to see what is in front of our noses.

Is this the new normal? Or has this been a detour into the freak zone, with a president accidentally elected, a major party temporarily hypnotized, but with a population still aware of something called reality?

Continue reading…

Posted in Controversial, Democracy, Donald Trump, Ego, Elections, government, leadership, Politics, Supreme Court, United States, White House