-- 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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How quickly they forget this debacle going on now which may have repercussions throughout the financial markets
https://kanebridgenews.com/empty-buildings-in-chinas-provincial-cities-testify-to-evergrande-debacle/
Who owns this dream? One Central Transit Hub! For what? Chicago the Midwest transportation giant?
One Central makes sense if you’re building a city from scratch. At this point, it’s just another development in a city full of them (think Fulton Market). Will OC be such a game changer that it will attract major corporations to re-locate? More likely, it will poach from existing Loop office space.
Build it if you want, but on your dime, not mine. This will be a good experiment to see if the free market, sans govt subsidies, can make this economically viable.