The City of Chicago just chose not to proceed with the sale of general obligation bonds in a larger bond offering planned for this week. An early news report framed that decision in terms of market conditions amidst upheaval in the Mideast. But the independently poor financial condition of the city is also in the mix.
Chicago has just hit bedrock, they just can’t dig any deeper into debt.
Bankruptcy WILL come to Chicago, the next candidate if it hasn’t happened will need to run under the Bankruptcy Now motto!
I disagree. I think they can and will go deeper. Let’s see who is right.
Fullbladder
2 months ago
With all that’s going on in the financial world, war, oil, private credit, commercial real estate collapse, we just might be seeing the beginning of the washout of all washouts. Remember, Bear Sterns collapsed in the spring of 08′, we know how things went from there. It really appears that a Whistling Past the Graveyard scenario is building. Society can’t hopelessly indebt itself into prosperity.
The washout started in Chicago LONG before ago.
Subsidizing trash 300 MILLION with 3 UNION members on a truck while every other garbage truck in the state with 1.
Democrats have destroyed this state largely starting with Madigan in the early 70’s.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Chicago has just hit bedrock, they just can’t dig any deeper into debt.
Bankruptcy WILL come to Chicago, the next candidate if it hasn’t happened will need to run under the Bankruptcy Now motto!
you clearly have no idea how public finance works
I disagree. I think they can and will go deeper. Let’s see who is right.
With all that’s going on in the financial world, war, oil, private credit, commercial real estate collapse, we just might be seeing the beginning of the washout of all washouts. Remember, Bear Sterns collapsed in the spring of 08′, we know how things went from there. It really appears that a Whistling Past the Graveyard scenario is building. Society can’t hopelessly indebt itself into prosperity.
I agree.
The washout started in Chicago LONG before ago.
Subsidizing trash 300 MILLION with 3 UNION members on a truck while every other garbage truck in the state with 1.
Democrats have destroyed this state largely starting with Madigan in the early 70’s.