-- 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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It’s turning out to be a lot harder to “first, you get the money” than they thought. It sounded so easy in all those Critical Theory classes.
Sadly, Mayor Idiot and the one he hired that won’t do business with the Feds because she has a hard on for Trump probably think this is good news and are glad to be out from under whitey’s capitalist, colonialist thumb.
This is a very technical article, and the Bond Buyer is an excellent source, but it is narrowly read even in the financial world. But, WOW! More of these quotes ought to be disseminated to the broader media and public. Chicago, with its inept mayor, located in Illinois, with its silly fool Governor, is on the outbound train headed to the financial wilderness. None of the bilious excuses from the paid lackey financial team can misdirect from the fact that Chicago is on the verge of fiscal collapse. And it is not far away.
Good read, the peanut gallery had better
hold on, whats the old saying, “ bankruptcy
starts slow then ends quickly.
look out below.
This story is from last week. Apologies for being late on it. This is a bigger alarm than indicated by this story. See the Tribune editorial which has it right: https://www.chicagotribune.com/2025/11/24/editorial-bond-vigilantes-brandon-johnson-debt-city-council/