-- 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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“One of the things that both the public and many scholars have tended to take as given is that slavery was always racial in nature – that only blacks have been slaves. But that is not true.” – Robert Davis
Over the course of four centuries, the Atlantic slave trade was much larger – about 10 to 12 million black Africans were brought to the Americas. But from 1500 to 1650, when trans-Atlantic slaving was still in its infancy, more white Christian slaves were probably taken to Barbary than black African slaves to the Americas, according to Davis.