-- 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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“To be sure, capitalists are known for hyperbole. Often their threats are just hot air, and often businesses disinvest or invest for purely economic reasons. But given their control over the resources that we all depend on, their words carry real political weight…”
It’s incredible to see that this leftist cant is still being given a platform. But then the creeps that publish “Jacobin” still thank the old communist East Germany was a dandy place:
https://jacobin.com/2019/11/east-germany-berlin-wall-november-4
ANOTHER EAST GERMANY WAS POSSIBLE
https://jacobin.com/2015/10/germany-cold-war-reunification-berlin-wall-stasi
WHAT REUNIFICATION WROUGHT
https://jacobin.com/2019/11/east-germany-egon-krenz-berlin-wall
THE MAN WHO COULDN’T SAVE EAST GERMANY
Thems insurrectionist words. lol
It’s hard to believe there actually are people who read this and think “This time it can really work! “. Beware capital strikes AKA reality.
I don’t find it hard to believe at all. Some neighborhoods in Chicago have per capita incomes less than the poverty line, and working your way up the list, you don’t really get to $25k per capita until you reach Dunning, Jeff Park and Irving Park. The ‘rich’ northside neighborhoods are well in excess of $40,000. I’d be 2/3rds of the city doesn’t have $500 to pay for a car repair. They’re mostly poor and think socialism is the answer. Which for somebody with a CPS education, cant’ barely read, has a minimum wage job and such, then yes, I… Read more »