-- 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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Rivian is hemorrhaging money. The more they sell, the more they lose. Don’t worry says Pritzker, they’ll make it up in volume!
Two guys wanted to sell watermelons so they bought a cart and paid $2 for each melon. They sold them for $1 each. At the end of the day they found out they lost money. So the one guy turns to the other and says. Why don’t we buy a bigger cart? The other guy says. Now your talking.