Category: Pension funds

Month in Review: September, 2015: Part 2, When things are getting better

13 October, 2015 (10:00) | Apartments, Berlin, Chapter 121A, Global news, Homeownership, Housing, London, Markets, Month in review, Pension funds, Real estate taxes, Rent control, Rental, Tax abatement |

By: David A. Smith [Continued from yesterday’s Part 1.] After having written in August about the three laws of urbanization, I followed up in September by chronicling the future – that is, what will happen in Germany and Berlin now that the nation has authorized, and the city has adopted, a seemingly benign form of […]

Month in Review: September, 2015: Part 1, When things are getting worse

9 October, 2015 (10:00) | Apartments, Berlin, Chapter 121A, Global news, Homeownership, Housing, London, Markets, Month in review, Pension funds, Real estate taxes, Rent control, Rental, Tax abatement |

By: David A. Smith Something really awful over here! During September, I returned yet again, like a bloodhound to a foul-smelling mound of earth, to the seemingly endless maze of doublethink connivances related to public-employee pension fund accounting, management, overspending, and general defalcation, with the discovery of the cottage industry of strategically underestimating costs of […]

Month in Review, August 2015: Part 2, Lingering debts

25 September, 2015 (10:00) | Actuaries, Bankruptcy, Berlin, Boston, de Blasio, Economic development, Essential posts, Greece, Housing, Illinois, Month in review, Olympics, Pension funds, Puerto Rico, Urbanization |

By: David A. Smith [Continued from yesterday’s Part 1.] The true mystery of capital lies in its mutability: property can be turned into money, money into chattel, chattel into property, and all through the chemical reaction of markets; moreover, money can be created (value greater than cost) and money can be lost (cost greater than […]

Month in Review, August 2015: Part 1, Enduring assets

24 September, 2015 (10:00) | Actuaries, Bankruptcy, Berlin, Boston, de Blasio, Economic development, Essential posts, Greece, Housing, Illinois, Month in review, Olympics, Pension funds, Puerto Rico, Urbanization |

By: David A. Smith For a month in which normal people (e.g. those not obsessed with blogging) go on vacation, August contained plenty of material related to affordable housing, starting with the ever-inventive Mayor Bill de Blasio in the ever-political city of Gotham, with the city’s attempt to create its own home-rule version of the […]

With any luck you’ll die soon: Part 5, A study in obfuscation

2 September, 2015 (10:00) | Actuaries, Bankruptcy, Cities, Doublethink, Illinois, Investment, Municipal bankruptcy, Pension funds, Principal-agent risk, Real estate taxes, Speculation, US News | 2 comments

[Continued from yesterday’s Part 4 and the preceding Part 1, Part 2, and Part 3.] By: David A. Smith ‘Everyone is cured sooner or later.’ As the preceding parts have shown, catastrophe being a precondition to fundamental financial reform, the biggest adjustment to be made following the mess of the Great Recession will not be […]