-- Connecting the dots between our economy, government and business --
I’ll just repeat one line from a newspaper report from which I quoted this morning.
The Financial Times:
Volodymyr Zelensky has called on energy producing countries to step up their output in order to prevent Russia from using its oil and gas to “blackmail” European nations.Chicago is a “sister city” of Kyiv, I see.
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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Oil and natural gas have not yet been declared illegal. Electricity in Chicago/Cook County is still being generated by fossil fuel and will be for a long time to come. Lastly, the one and only goal of a fund manager is to legally maximize return for fund members. When political functionaries virtue signal they hurt the working person relying on the fund for old age. But then again, Jane Byrne robbed the police pension to give teachers a raise back in 1980 and only the police cared.