-- 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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The complete collapse of Chicago is happening next. Anyone hear about the young 20’s couple practically beaten to death at State & Jackson last night? They were mugged but refused to hand over their possessions. They were brutally kicked in the head and beaten. The woman is in critical condition with a head injury right now. Who would go downtown after hours with this happening and no police presence around to stop it? aren’t the police supposed to be on every corner downtown?
“We Don’t Know What’s Going to Happen Next” Huh? Of course we know. More taxes. Higher taxes. And, if Lightfoot can figure out how, taxes on white people for the sin of being white.
Having witnessed the decline of the business districts in the Jackson Park and Englewood neighborhoods, I can attest to the fact that used hub cap shops, tattoo parlors and Jackson-Hewitt offices can’t replace department stores and grocery stores. The Central Business District is in collapse.
Where is all the Federal Money that was received?
So what’s the prediction? After decades of doom, we still can’t get many people to actually predict, which is the only interesting thing left. Otherwise it’s just whistling past the graveyard. We all know the people and pols are corrupt. Write something interesting, people.
The thing about Chicago and IL in general is that most of our problems are man made and solvable. When IL is an attractive business location it’s economic engines turn on and produce wealth like almost no place on earth, a legacy of the centralized infrastructure, corporate power and industrial DNA. We saw what that looks like in the 90s, 60s and 50s and pre great depression this was the place for business anywhere. The 80s suburban Chicago boom was about as big as any other place in the country at the time. Even the 1970s were good for suburban… Read more »
its the people in the state that are the problem. I know them, you know them, we all know who they are. Just as Afghanistan kinda secretly wants Taliban control, most of IL enjoys unrestricted abortion, high crime and socialism. There’s only one way to fix this problem and that’s to just leave the state entirely.
I think I know them. I know a lot of legacy Democrats in my family who are older, worked a union job and will vote D no matter what even if they dont agree with a single thing the 21st century Democrats stand for ( it aint the working man ). That group is dying out or retiring away. The younger D generation is fractured. A lot of them simply wont entertain voting R because of Bush and his wars. I get that, the R nationally killed their future with wars, student debt, financialization, family values culture wars, surveillance state,… Read more »
Name one R fiscal conservative. Not one who claims to be, but one who votes that way.
cannot think of one
Interest analysis. As for the D’s who vote D’s no matter what, as I explained to my spouse today, the Afghans secretly like the Taliban and want them to rule the country. Sure, the Taliban takes the Sharia law a little too far, but at they are locals, they share the same values and they got rid of the pedo warlords and the opium growers. But certainly better than the alternative, the americans or the russians or some local coalition. For goodness sakes, the western alternatives with their secular values are just unacceptable. This is *exactly* how your old timer… Read more »
They’re going to cross their fingers and hope things improve. They have questions but are terrified to ask for fear Herself will leap screaming from the podium. Yea, let’s look for root causes to violence! Whenever root causes is thrown out, it means they haven’t a clue. These morons are incapable of linear thought. Finances? How much comes in, how much goes out! Too much goes out? We’re going to the barber! There, we’re done! Can’t figure that one, you’d should be on a shovel.
Chicago! LOL
From a finance point they are sinking! Game over!!!