-- 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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This is one of the most massively racist articles that I have read.
Look out below Commercial Real Estate.
Yup. Our story on that coming tomorrow.
Does anyone else see the racism in this article? It’s literally right there, you can’t unsee it: The author suggests that Detroit went bad when it became a majority black city; and we shouldn’t worry, the whites won’t be fleeing Chicago today like they did in Detroit in 1967. The libs who write this stuff don’t even understand how racist they are. Edward Robert McClelland wrote this article, I’ve read some of his stuff in the past. He’s a total dinosaur backwards racist moron, thinks he’s progressive, but he’s just your typical racist Democrat. If Chicago fails it won’t be… Read more »
WFH is turning our “services’ economy over and Trading economy is almost dead. What is left of the old market makers will again be decimated by AI. It’s a sad time for Chicago
So the author lists commodity exchanges as one of the economic drivers which would keep us from becoming Detroit. Brandon wants hit them with a transaction tax which will drive them out. I love these highly educated journalists who get their degree from CNN.
This guy saying Chicago won’t end up like Detroit is meaningless. As for the diversity of the Chicago economy, any business person know that a service based business can be run from a remote location. Watch the businesses continue to abandon Chicago as violence escalates in the 2023 Summer of Hate in Chicago.
It may or may not be like Detroit, but the worst case is another comparison I sometime hear from people in real estate, which some commenters here have suggested too — Johannesburg. High rise downtown completely abandoned there to squatters.
Fake News Fraud Liars At ‘Chicago Magazine’ Say Chicago Is Not Turning Into Detroit — REALITY CHECK: Chicago And Detroit Are Both Among US Cities With Highest Murder Rates
“WHOOSH…!!!”
“Johnson says he wants to make Chicago “a city where every neighborhood is a neighborhood of opportunity, where local storefronts are bustling and new jobs sprout up in every corner of Chicago.” Every mayor promises to revive neglected neighborhoods. Lori Lightfoot spent money toward that, with her INVEST South/West program. Johnson actually lives in a neglected neighborhood — Austin — so he might do more than most mayors…”