-- 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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Automobiles, whether EV or gas, are going to be built in the places it is advantageous for them to be built, which is wherever they are built today. All these existing plants in RTW states are going to be retooled for EV, just as they are retooled when a new or updates model comes out.
Illinois thought it had a head start because it had an EV start-up, and the only reason we got that start-up was because we had a vacant auto plant. But Lucid chose AZ and Tesla expanded into TX. The window has passed.
My goodness, that is a dilemma. How can Illinois be the leader in the EV industry if their Clean Energy laws raise the cost of production to uncompetitive levels? They will have to get Biden to issue an executive order that sets the price of electricity across the country. Then those other less virtuous states will not be able to snatch Pritzker’s rightful crown as the King of Green.
How many hydrogen fuel vehicles and refueling stations for trucks and autos are proposed in Illinois? Everything is EV and how will the fragile power grid handle it?
Does anyone recall reading about this from 1859? The Carrington Event. We are overdue and what happens if we experience this in the near future with everything going on in the world. Does JB and our officials know about Carrington other than from the show Dynasty?
https://www.gaia.com/article/carrington-event