-- 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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This could be a great opportunity for looting. Sorry for my cynicism, but the world just witnessed supply chain looting in South Africa, after a year of “reparations” in the USA.. Chicago is surrounded by endless rail yards and trucking warehouses full of goods in transit. When certain politicians decided to promote racial violence in the run up to the 2020 elections, they weren’t smart enough to think about how to put this cat back in the bag. Surprise. North Africa was the bread basket of the Roman empire, but it is still a desert after being burned down near… Read more »