-- 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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I have no problem with the government providing utilities to rural areas, what’s the point of government if not to pay for infrastructure? The problem I have though is that this is grift for ‘prevailing wages’ that contractors will be unable to pay. ALso, this is too little too late because we are on the cusp of long distance wireless internet where everyone will have a satellite on their roof and get high speeds. Building all that hardwires will be obselete in a few years.
Apple 14 coming out in a few months is rumored to have satellite connectivity. If it does other companies will follow suit. Maybe the unit itself whether the 14 or 15 may be strong enough via Wi-Fi to act as a roof top satellite within the home. Bigger problem is how do all these signals affect our bodies and brain in the long term?