-- 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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Slowing down = early stages of crash.
Even Robert Shiller of the Case-Shiller index says to delay your home purchase.
They have taxed all the equity out of the homes. Soon you will have to pay buyers to take the house with a HUGE tax bill. As taxes go up values go DOWN. This is a train wreck caused by the need to fund overly generous ponzi scheme PENSIONS. Houses in Punta Gorda, Fl are going up and up. What are they doing differently???