-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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All these criteria’s for a salon to open. Unless you’re the Mayor. Then you do whatever you want because you’re concerned about your hygiene.
Seems like every phase is one size fits all. No attempt to carve out areas that can go back sooner, etc. no finesse’.
Our benevolent leaders keep following one man made disaster with another.
Might not seem like it, but this is a rebuke of Pritzker’s plan. First, she’s rejected his excessive 28-day periods in favor of only 14-day periods. Second, she distinguishes between community vs. congregate positivity, which Pritzker doesn’t want to have to address because it makes him look bad. Third, she puts down more specific metrics (e.g., 5% testing per month ~ 4500 tests/day) where his plan is deliberately vague. And finally, she’s vague on tracing, but still placing the burden on Pritzker by acknowledging it. Overall, I’m willing to bet that Pritzker is pissed about this. The way she’s structured… Read more »
All I heard today was “We have no idea when we can even begin to think about reopening…” Meanwhile, business makes its plan to permanently reopen elsewhere…Capital is free flowing and easily movable…
Is it even possible to recall the Guvnah?
No. No one is able to “lift” that.
I agree that it is still a vague political document. What constitutes “select businesses”? Only Lightfoot can say. On the other hand, the city can already meet her hospital capacity requirements to move to the next phase and if the city gets a bump in testing then that will reduce testing percent positive even if it increases # of incidences. My point isn’t that this is “good plan” but rather one that appears consistent with Pritzker’s plan, while actually allowing her to move to re-opening earlier or alternatively push blame on Pritzker for lack of testing, inability to reopen some… Read more »
So Chicago is basically never going to reopen? Waiting for a vaccine is a pipe dream. There is a good chance that one will never be developed and even if one is, it may only be 40-50% effective. Lightfoot is anti-science.
Bail-out gambit…As a resident, I would love to see the FED say “no”. A rebuke to the despicable nature of that which is Illinois government.
Lori is more interested in crippling Chicago because she refuses to stop her base on the south and west sides who refuse to socially distance. The black and brown community is the reason the virus is spreading. Fact, look at the map. Refusal to follow the rules. Typical of that community. Lori wants money from trump and is not interested in opening up.
56 homicides in April of 2020 versus 61 in 2019. It is amazing she is more concerned about those who are less concerned about her. LL, just wait for a teeny bit of normalcy and watch the makers leave this dump to the takers.
These people keep saying they are making decisions based upon science but it is more similar to SCIENCE FICTION.
How about the science around the unemployment rate jump from 4% to 15%, numbers last seen in the great depression?
She keeps saying ‘science’ but I don’t think she understands what that means. Because we both see the same science (at least what they show us) and we come to vastly different conclusions.
From WSJ:
“Employment fell sharply in all broad business sectors last month and across all groups of workers, with particularly large increases in unemployment among women, college dropouts and Hispanics.”
So much for Jabba’s and Lori’s “equity lens”…
“Requirements to get to phase three:
A set of epidemiological factors has been established to guide the next transition from phase two (Stay-at-Home) to phase three (Cautiously Reopen), including:”
-Long list of unattainable criteria due to Democrat incompetence.
This is a disaster, and Chicago will lose it’s second tier city status after that. Chicago will have more in common with Baltimore and Wuhan than Sydney or Singapore.
Starting to contemplate the rate of return that would be acceptable on my real estate holdings to flee this state. Just for grins, have the folks who set the “expected rate of return on the pension funds” made any more adjustments? The minute they move rates into the real world, the liquidity and operating funds for all of these entities are DONE.