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The New York City Council considers a package of bills to freeze the number of Uber-type cars on city streets. But that's at best a partial answer to a systemic crisis.

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Who Lost Lehman Brothers? Could It Have Been Saved? | RealClearMarkets
Let's start with the lunacy of unfunded pension liabilities on the part of municipalities and states.The City of Chicago is considering a plan to address unfunded pension liabilities by borrowing $10 billion in bonds......the city’s Chief Financial Officer Carole Brown and a prominent backer of Mayor Rahm Emanuel–Michael Sacks–suggested the city issue billions in obligation bonds. The plan aims to inject more cash into the pension system now in order to leverage a higher rate of return to exceed the interest that will accrue on the bonds...from Chicago Considering Plan To Borrow $10 Billion To Fund Pension Liabilities (chicago. cbslocal. com/ 2018/08/10/ chicago-pensions-plan/)In short, the city thinks it can find the magical safe long-term investment that will return more than it pays on the bonds. If the city can find that investment, those who would buy its bonds will not and will buy that investment instead (because it is obviously safer and pays better).Government should N-E-V-E-R be in the bailout business, from New York City (John Lindsay and David Dinkins) to Chrysler to TARP and beyond) - shareholders and board members deserve all the financial pain and legal ramifications they get from badly run businesses. If only the same could be applied to government entities and the bureaucrats and politicians that bankrupted them; the pain should be limited to the taxpayers who selected and tolerated them for too long.
Brian in Arizona
Another well documented (via transcripts of testimony) and stimulating article from Mr. Snider. It would have benefitted from a comparison between the magnitude of the Eurodollar market and the US dollar market that is within the purview of the Fed. One gets to the end of the article without any idea which is the tail and which is the dog.The current turmoil in emerging markets (not sure that Argentina and Turkey deserve the label emerging) suggests that trouble is on the way. Snider implies that the Fed will have to back off its plans to tighten the domestic US$ money supply to deal with overseas monetary crises for which no banking regulator is responsible or empowered.
The Mets, Yankees, and the Absurdity of Economic 'Contagion' | RealClearMarkets
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17 Aug
What a stupid article by a gold bug.There is a reason why no major country in the world ties their currency to gold.There is a reason why in the 30's that major countries started to recover AFTER they left the gold standard.Tying a currency to gold means that your money supply is literally tied to gold production in South Africa and Russia.This isn't the only problem with the article but it is impossible to take the author seriously when it is obvious he doesn't understand what he is writing.
Why Judges Aren't Buying Cities' Climate Change Lawsuits | RealClearMarkets
I would say the Left has Jumped the Shark on this one. But the Left is running a veritable circus with so much jumping and other stupid tricks, it really is difficult to tell which is the dumbest.

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