-- 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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There’s simply little demand from current residents for these projects and are newest third world residents can’t afford them either.
Please document the use of public funding for seed-funding-phase research, and subsequent in-the-room-where-it-happens insider-only access to venture funding at initial round valuations as these correspond to Pritzker Family venture capital funds investments.
Useful idiots are free to be such, so long as they aren’t responsible for bankrupting neighbors to serve ui’s dogwhistle masters.
It’s Fascism; it always fails.