-- 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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Insane is the correct word for this.
Brilliant idea, and the first step on the road to a totalitarian communist state. Step 1 – get 90% of the population addicted to government handouts. Step 2 – take the handouts away, and let the people starve. Step 3 – the impoverished serfs vote in a totalitarian regime because they are told it is the only solution.
This recipe has been used in countless countries.
What a great idea. However to be cautious and prudent, before rolling this out to the full nation, we should test it on a smaller scale. Since Toni is the leader of the 2nd most populous county in the country, why not try it out in Cook County first? The fact that she won’t dare shows she is nothing more than a shill for the free shit army. Nowhere does she remind anyone of personal responsibility. Intellectually a fraud, but we already knew that. Soda is bad for you, but pot is just fine.
It’s funny–in a morbid sort of way–but I feel like no one is actually looking at the real world consequences of the federal debt. I did some napkin math. Someone smarter than me may take issue with the simplicity I’m offering, and please do so, if my example isn’t correct. If the federal debt hits $30 trillion, which seems all but certain at this point, do you know what 3% interest on that debt is, annually? $900 Billion. Yeah, that’s right. The last time T-bonds sold for 3% was 2011, so it wasn’t that far away. How does that get… Read more »
I am truly astonished that Powell and Yellen have let it get this far. They should both be removed from office.
Next up; negative interest rates to keep the game of musical chairs continuing on.
They will inflate the debt away. Savings will be worthless. Pensions will be worthless. The dollar will be worthless. Get out of the dollar. Buy land, food, oil, beer, tp etc.