-- 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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Elon musk is today’s pt Barnum. His companies cannot survive without subsidies and wild investors deceiving themselves. He’s only delivered 400 model S, and those were hand made because he can’t do mass production right. He is the biggest fraud around. But he is good at extracting govt subsidies no other honest carmaker gets. The Chevy volt outsold him by 5000 units, and Chevy made those within profit margin honestly. Musk cannot make a car in margin unless he has a handout from climate change politicians. Even his new truck is a fraud, it would take the power of 4,000… Read more »