New York City Joins The “Imminent Bankruptcy” Club

By John Rubino – Re-Blogged From Dollar Collapse

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:

New York City Owes Over $100 Billion for Retiree Health Care

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Caught Lying: NYC Climate Lawsuit Really IS About Restraining Industry, Not Saving the Planet

From Energy In Depth, by Lea Giotto – Re-Blogged From WUWT

A top environmental lawyer for New York City says that the goal of the City’s climate litigation efforts is to restrain industry activity, an apparent contradiction to what the City has stated in recent legal filings in federal court. This admission could have a significant impact on the case moving forward.

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Another Trillion-Dollar Unfunded Liability, Part 2: Running The Hurricane Numbers

By John Rubino – Re-Blogged From Dollar Collapse

The idea that as more people move to Hurricane Alley and other storm-prone places, the future cost of those storms will rise – and that we’re not accounting for that future cost and are therefore likely to be shocked by it – makes intuitive sense.

Now some recent studies have fleshed out the numbers, making it possible to tell this story visually (courtesy of yesterday’s Wall Street Journal). So here goes:

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What the Hell Happened to San Francisco?

Re-Blogged From Restore American Glory

It wasn’t that long ago when people all over the country were moving to San Francisco and other areas of Northern California, dreaming of living the good life, with great weather and fine neighbors. Now we’ll concede that some portion of the city’s reputation was forged from PR campaigns, vacationing Americans who didn’t see the whole picture, a mythological 1960s origin story, and hell, maybe even “Full House.” But there’s no doubt that however overblown the city’s reputation was a few short years ago…well, it ain’t the city it used to be.

These days, you have a major Chicago-based medical association pulling their annual 15,000-attendee convention out of San Francisco because the place is turning into an unsafe garbage dump. Oh, did we say “garbage?” We meant feces. Because that’s what mysteriously showed up on a sidewalk in San Francisco last week: A 20-lb bag of human excrement. This is what the city looks like today.

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Protesters Aren’t Stopping US Pipeline Network Growth

By Steve Goreham – Re-Blogged From WUWT

Opposition to oil and gas pipelines produces sensational headlines. Protests of the Keystone XL, Dakota Access, and numerous smaller projects are well-covered by the media, creating the impression of an industry halted by public outcry. But the US pipeline network is steadily expanding and safety is improving.

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Housing Bubble Pathologies, Part 2

By John Rubino – Re-Blogged From Dollar Collapse

Home prices are still rising pretty much everywhere in the US, with California as usual leading the way. State-wide, the median CA home is now above $600,000, up 9% year over year. In San Francisco County, homebuyers are paying an average of 18% above the asking price, and price per square foot is now more than $1,000.

Even Silicon Valley residents, who are used to this kind of thing, are finding it remarkable. See ‘Facebook is taking everything’: rising rents drive out Silicon Valley families.

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Looming Catastrophe: Power Grid Collapse Now In Sight in New York

By John Droz Jr. – Re-Blogged From http://www.WattsUpWithThat.com

Indian Point Nuclear Power Station in New York. It sits on the east bank of the Hudson River, about 36 miles north of Midtown Manhattan, plans to shut down both of its operating reactors by April 2021.

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