-- 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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Old Joe paid “Detroit city” rates when he lived in a city that bordered Detroit. I didn’t stop until I moved again 5 miles North of the Detroit city limit!
What idiocy from Alexi. Insurers should use whatever data they have the best correlates to loss records and to paying on time.
There may be a good reason for this other than the implied racism angle. Certain areas may be, mathematically evaluated, more prone to car theft, vandalism, accidents involving uninsured motorists to name a few. Certainly those well meaning publications looked into this to assure their hypothesis of racism was correct assuming the mention of minority areas popped right up. The Trib once again publishes fake news generating headline coupled with a plug for a State politician, then wonders why they are losing so many subscribers.
I have an adult child that has had the catalytic converter sawed off Grandma’s older car twice. He rents an apartment in Lincoln Square on the north side. Insurance company paid out roughly $3k each time. The rate of that crime happening on the North Shore or most suburbs is much lower than in the city. City residents should pay more if they choose to live there.
Little Alexi is certainly one of the dumbest political animals infesting Illinois. Not the dimmest of the dim bulbs, he always strives to at least ‘place’ in the race to root out common sense in American society. Here’s how insurance companies determine rates, Alexi: Claims History Simple, isn’t it? Too simple for Alexi and race-infatuated Karens at Consumer Reports and ProPublica. Let’s examine it further and help this political animal gain understanding. How do automobile insurance companies set rates? Insurance companies are not government agencies run by incompetent, free spending political animals like Alexi and JB the Hutt. They are… Read more »
Life is much easier if you can reduce causation to racism. The factors you noted are far too complex for the average CPS grad to grasp.
If race was actually used in pricing, guess whose rates would be even higher?