Economics
Dec. 13th, 2025 12:15 amGround Zero: Los Angeles and the Endgame of the Growth Ponzi Scheme
Los Angeles didn’t mismanage its way into crisis. It built its way here.
I disagree. If a city does not track all of its liabilities, such as the maintenance costs of roads and utilities, that is mismanagement. You can't run a budget when you don't know where your money is going. That ought to be obvious.
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Los Angeles didn’t mismanage its way into crisis. It built its way here.
I disagree. If a city does not track all of its liabilities, such as the maintenance costs of roads and utilities, that is mismanagement. You can't run a budget when you don't know where your money is going. That ought to be obvious.
( Read more... )