-- Connecting the dots between our economy, government and business --
An estimated 250 million gallons of Chicago River water poured through a crack into a little-used network of tunnels under the Loop. Government and business were brought to a halt when the city's main trading floors shut down and City Hall was left unable to function.
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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During the great Chicago flood the politicians were lined up two by two looking for giant handout contracts to give to their friends and relatives.
That pales in comparison to today’s flood of WOKE in Chicago.
Remember it well. Was working in the Merchandise Mart and left early that day. Could not use the bathrooms for a few weeks. They set up porta potties to use in the Mart, not a good thing. Luckily we could cross over to the apparel mart to use regular bathrooms.