-- 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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They must have measured the level after a lot of obese people got out of the water at the beach.
Very first comment on zero hedge:
“Ancient peoples camped along the Great Lakes shorelines believed that the water level went up and down depending on how much water there was in the lake. “
More subtle than usual there. Man, they are brutal, and lots of traffic there. 65K page views after about 5 hours. It’s so good that Al Gore invented the internet to allow sharing and commenting like this.
“The idea that the current high water levels in the Great Lakes must be directly and primarily attributable to human-caused climate change is presently popular, but it ignores science and history.”
https://www.badgerinstitute.org/Diggings/Spring-2020/Lakes.htm