-- 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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100% sure they are leaving sooner or later. Most traders think sooner is better than later.
(In way over his head) Mayor Brandon will have to get used to hearing another three-letter word from the businesses he seeks to shake down:
Bye.
Illinois is a mess with imbeciles like Alexi Giannoulias and trust fund babies like JB the Hutt in positions of power. Chicago is in some real pretty schite with Brandon in charge.
Detroit 2.0
BJ the Race Clown will tax these cash cows — and they can leave the next morning with the flip of a switch
High-speed data comm lines to CBOT/CBOE LaSalle St. are the only reason tape-racing/tax-paying algo trading still remains in Illinois.
When there are articles like this in financial rags, it means the industry has already made the decision to move.
Because communists destroy. That’s what communists do.