MarjorieR on Nostr: npub1g0tuf…3tvm4 what does LA debt actually represent? My understanding is that LA ...
npub1g0tuf634rz4suczwj7kgnecr6cyt0eu9xmp3sp0fku68mqehq4msp3tvm4 (npub1g0t…tvm4) what does LA debt actually represent?
My understanding is that LA have increasingly been having to fund increased expenditure by running down their reserves. This implies that they still, mostly, have reserves. Can they have both reserves and debt? I got the impression that debt (cheap govt. money) was often taken on to fund speculative investment in commercial real estate which has often since gone sour (Slough, Croydon, Woking), debt interest will of course hit expenditure.
My understanding is that LA have increasingly been having to fund increased expenditure by running down their reserves. This implies that they still, mostly, have reserves. Can they have both reserves and debt? I got the impression that debt (cheap govt. money) was often taken on to fund speculative investment in commercial real estate which has often since gone sour (Slough, Croydon, Woking), debt interest will of course hit expenditure.