-- 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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FDR administration made very low interest loans ONLY to manufacturers for machinery to increase productivity for war. It is incredible that this country by the end of 1944 was building
75-90 thousand aircraft for that year. We need industrial policy like Japan’s MITI and reinstate the Glass-Steagle Act. The low interest rates for the past was only used by the central bankers for speculation and prop up the Wall street.