by Kerry Lutz, Financial Survival Network:

John Rubino returns… When it comes to government incompetence, few places can match New York’s. Corrupt labor laws, rapacious unions and bought and paid for politicians have led the CIty and State into a death spiral. It’s just one of many cities and states facing the burden of retiree pension and healthcare benefits. It’s underwater to the tune of $150 billion and counting. Get ready for the next meltdown.

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