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As U.S. 'superstar' cities thrive, weaker ones get left behind

reuters.com

41–50 of 69 posts

Re: As U.S. 'superstar' cities thrive, weaker ones get left behind

#41
post #20

Earlier quoted context omitted.

This is a bad take. You're assuming that incoming folks won't change the politics of funding decisions of the city. In most cases, they do change them, and change cities for the better.

Do you have an example of that? Perhaps I’m biased being in LA and SF but those city budgets seem irreplaceable broken. Infinite amounts to pensions while no one can propose viable fixes to problems.

Sorry, how is meeting pension obligations "irreplaceable broken"? They hired people for years with the promise of retirement pensions. It's a debt, not a budget item.

Re: As U.S. 'superstar' cities thrive, weaker ones get left behind

#42

This probably gonna get me killed but I've got to put it out there. I was so disappointed by the food and music scene in Nashville. Literally every restaurant was some trendy clone of some vaguely hipster cracker barrel (one exception). The music I could find (with one exception) was just sad cover bands doing the same Counting Crows covers over and over again. Redeeming restaurant: Princes hot chicken. Got that shit…

Midtown.

Re: As U.S. 'superstar' cities thrive, weaker ones get left behind

#43
post #35

Perez's Technological Revolutions and Financial Capital makes the point that when a technological revolution occurs, gains are frequently concentrated in a small number of locales that are the first to adopt the new technology and adapt their local industries to the new structure of the economy. This results in significant economic (short term), military (medium term), and geopolitical (long term) power. The changing…

Fundamentally, fragmentation. I think the Civil War is a relevant example, honestly. What happens when the disparity between the Silicon Valley elite and the Iowa cattle farmers becomes too much for one side to bear? What's weird this time is the technocrats are pretty spread out on the coasts, and then you have cities like Denver right in the middle. It will be a bit more nuanced than "North vs. South" next time. Pe…

You don’t get paid if you don’t sell the “resources you control”, also mega corps own farms, mines etc so this isn’t as relevant.

Re: As U.S. 'superstar' cities thrive, weaker ones get left behind

#44
post #41

Earlier quoted context omitted.

Do you have an example of that? Perhaps I’m biased being in LA and SF but those city budgets seem irreplaceable broken. Infinite amounts to pensions while no one can propose viable fixes to problems.

Sorry, how is meeting pension obligations "irreplaceable broken"? They hired people for years with the promise of retirement pensions. It's a debt, not a budget item.

Do you not include debt payments in your budget planning?

Re: As U.S. 'superstar' cities thrive, weaker ones get left behind

#45
post #20

Earlier quoted context omitted.

This is a bad take. You're assuming that incoming folks won't change the politics of funding decisions of the city. In most cases, they do change them, and change cities for the better.

Do you have an example of that? Perhaps I’m biased being in LA and SF but those city budgets seem irreplaceable broken. Infinite amounts to pensions while no one can propose viable fixes to problems.

Not forgetting the absurd levels of NIMBYism and a coordinated effort to make the life of newcomers as hard as possible

Re: As U.S. 'superstar' cities thrive, weaker ones get left behind

#46
post #41

Earlier quoted context omitted.

Do you have an example of that? Perhaps I’m biased being in LA and SF but those city budgets seem irreplaceable broken. Infinite amounts to pensions while no one can propose viable fixes to problems.

Sorry, how is meeting pension obligations "irreplaceable broken"? They hired people for years with the promise of retirement pensions. It's a debt, not a budget item.

Because the pension obligations are impossible to meet without bankrupting the local governments or causing them to massively slash other services. The financial liability of these underfunded and overpromised pensions should be shared with those whose unions corrupted the electoral incentives and now depend on these pensions. Either accept reductions to a reasonable level or watch the govt go bankrupt and get nothing.

Re: As U.S. 'superstar' cities thrive, weaker ones get left behind

#47
post #33

Earlier quoted context omitted.

Culture counts. This is probably gonna get me killed, but I would have qualms with starting or moving a business to a city where reproductive rights are under continual attack. The situation is inhumane.

Part of the problem with places like Alabama getting left in the dust is opinions voiced by elected officials in Alabama. There's literally nothing that would motivate me to move to a place like that despite extremely low cost of living.

I second this opinion.

Re: As U.S. 'superstar' cities thrive, weaker ones get left behind

#48
post #35

Perez's Technological Revolutions and Financial Capital makes the point that when a technological revolution occurs, gains are frequently concentrated in a small number of locales that are the first to adopt the new technology and adapt their local industries to the new structure of the economy. This results in significant economic (short term), military (medium term), and geopolitical (long term) power. The changing…

Fundamentally, fragmentation. I think the Civil War is a relevant example, honestly. What happens when the disparity between the Silicon Valley elite and the Iowa cattle farmers becomes too much for one side to bear? What's weird this time is the technocrats are pretty spread out on the coasts, and then you have cities like Denver right in the middle. It will be a bit more nuanced than "North vs. South" next time. Pe…

[deleted]

Re: As U.S. 'superstar' cities thrive, weaker ones get left behind

#49

>But interviews with entrepreneurs and officials in Nashville point to a mix of factors behind its success, including some that were out of the city’s control, such as the state’s lack of an income tax, and others associated with its unique local assets. NYC and SF, both big tech hubs, both have income taxes.

NYC and SF both have tremendous advantages that Nashville doesn't, Nashville needs to compete. I don't know if NYC and SF are examples of good governance, or examples that show great cities can support lots of poor governance as long as they retain the things that make them great.

[deleted]

Re: As U.S. 'superstar' cities thrive, weaker ones get left behind

#50
post #41

Earlier quoted context omitted.

Sorry, how is meeting pension obligations "irreplaceable broken"? They hired people for years with the promise of retirement pensions. It's a debt, not a budget item.

Do you not include debt payments in your budget planning?

Not as an optional item to be ejected because of "better planning", no. Absent any budgetary concerns, there are hundreds of thousands of people who worked careers for these cities with the expectation that they could skip retirement savings because there was a pension. Throwing that out at the behest of a 20-something on HN who's fully funding a 401k with a tech salary isn't "responsible government", it's just selfish.
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