-- 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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Too many retailers selling essentially the same items, too much retail space for the too many retailers (too many vacant malls, strip malls and big box stores too), too many restaurants serving too few people in this state. The industry has been overblown for a long time now. The red death is only the catalyst to hasten the end of their years of misery. There’s only so many times I can eat out in a week, only so much junk I can buy at the store, and only so many service experiences (haircuts, salons, massages, dog grooming) I need in… Read more »