-- 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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Who’s going to man the hamster wheels
And powered by unicorn farts, good intentions and solar/ wind in IL, right? Wait until they tax Com Ed’s capacity to the limit and the residential consumers have to pay through the nose as other electric sources are necessarily sought out to pick up the slack. Com Ed isn’t going to supply you with power they had to purchase from another outlet without tacking on a handling fee, green taxes, the “ poor folks “ fees and all the other ways they screw you as detailed in the fine print of your monthly bill.
I hear the Lion Electric clock ticking down…
“The relevant thing is now that the investors can very well make a profit even if the technology doesn’t work. What the startup can do then is to become a public company and sell shares on the stock market. But a lot of those quantum computing startups have no plausible way to ever generate revenue. They have no patents. They often don’t even have quantum computers, they might just say they’re developing software that one day might be run on technology that someone else builds. In the tech industry they call it vapourware. … By going public, these companies can… Read more »
“It is one of very few technologies that you can view as a generationally important technology that’s on the brink of becoming real.”
Tells you everything you need to know – it’s not ‘real’. Just another grift.
Interesting the BlackRock backed company said it chose the location because of access to water and electricity. I thought these supercomputing sites were going to build their own power plants – or was that yesterdays news? More freebies for a company promising the world and JB too stupid to know the difference.