-- Connecting the dots between our economy, government and business --
Buyers and sellers at the tip-top of the real estate market often do not make real estate decisions for the same practical reasons as people lower down the ladder. Nevertheless, Ames said, "what's happening at that end is symptomatic of what's happening across the board: hesitance about the real estate market because of the financial instability in the state."
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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“Financial instability” is the main concern?! What if the state had a solid plan to get back on solid financial footing but it required significant across the board tax hikes, would “stability” still be a main concern then? Or is it the overall cost?
The whole idea of not knowing being the main reason is a false flag. The fear is a higher rate. Once that fear is realized, you’ll still have the same problems as before.
Exactly, everything is getting worse until a bankruptcy with a clean slate for growth. They can’t tax their way out, people can bite the bullet and leave or vote in politicians who won’t raise taxes.