Could this be the tipping point for Illinois?
- Thread starter jbkunt2
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This is not Chicago, but it shows the kind of money cities are prepared to flush down the toilet to supposedly help the disadvantaged. It's not about helping anyone. It's pure corruption and graft.
Los Angeles Spends $44,000 Per 'Temporary' Tent For Homeless Village | ZeroHedge
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Does anyone have a low-down on the coming budget crisis in Chicago/IL? @Blade Runner ? I believe government lackeys can have insane pensions, even higher than salaries.
Government lackeys in fact do have insane pensions, in CA/NJ/NY/IL they are at the forefront, indeed. I can give you many funny examples I know of pensions in these places, regarding how absurd they are (yes, higher than most people's yearly salaries).
What exactly do you want to know regarding budget issues? I've hinted that the bond problems in 2024 will create greater insolvencies that I believe will be papered over by the Feds, in large part. Like most things in America, the solution will be printing and inflation to overcome the "borrowing at higher rates" part.
I live in Chicago right now. Only a couple months ago the new Mayor poo-pooed the downtown fiasco with the teens beating people up.
It is my goal by next year to move somewhere else. It's getting bad out here, employers don't want to do much to retain staff, etc.
It is my goal by next year to move somewhere else. It's getting bad out here, employers don't want to do much to retain staff, etc.
How do you think a recession will leave the state and city's finances.
They are already broken, so the modern day is more about testing current vs "conservative" labels of insolvency. That is, it used to be that when you approach 60% funded or even closer to 50%, you were considered "insolvent." The municipal pensions in Chicago, for example, went all the way to the 20s and teens in the last few years, if you consider fire (worst) and police. If we get a decline in the market, any sort of quake in the RE market, and rates that stay above even 4% (all of which will happen by Q2 next year), the rush to the exit will be grand. What the Feds do will be the only solution, and in my view, that means brrrr - which doesn't mean much for the pensioner or average citizen, who unlike us doesn't know, or worse even, won't be able to capitalize on this situation.
About the only thing that I can be happy about, paradoxically or sadly, is that I can see what's coming and make money while the others mire in the matrix. If I didn't try to tell as many people, or see so many of my countrymen willingly reject the truth, I'd feel bad.
Douglas Quaid
Kingfisher
I'm from Chicago and left about five years ago. I do not miss it all. It's a disgrace what's going on there. There's a big, beautiful country/world out there and I enjoy life a lot more now.
You won't regret leaving.
Seconded, I moved almost 20 years ago and I will never set foot in that awful cesspit again. Worried about friends and family that are OBLIVIOUS because they don't pay any attention.
Low IQ DNC voters are perplexed at getting what they voted for and went out and protested in support of...
What does he mean what is going on? Chicago is being enriched with vibrant newcomers.
Teens. That's a bit worse than I thought. I thought maybe 30% or so.
So, you think that the federl government will begin printing money to roll over some presumably trimmed pensions? Seems that can't be a game with much life in it. And I hear that social security is going to run out by 2027 or so.
Presumably this will speed up, as a lot of big businesses have been moving out of Chiraq, like Citadal. Also heard De Sancimonius is offering Chicago police $5K to move to FL.
Florida Gov. Ron DeSantis launches billboards in Chicago area offering $5,000 signing bonus to Illinois police officers who relocate
In an effort to recruit Illinois police officers to the Sunshine State, Florida Gov. Ron DeSantis announced a program that offers a $5,000 signing bonus to out-of-state police officers who relocate to Florida while launching billboards in the Chicago area to promote the effort.
www.nbcchicago.com
Chicago’s Pension Debt Continues to Rise, Increasing $1.74 Billion in 2022 to $35.4 Billion: City Analysis
Chicago’s Pension Debt Continues to Rise, Increasing $1.74 Billion in 2022 to $35.4 Billion: City Analysis
In all, Chicago owes $35.4 billion to its four employee pension funds representing police officers, firefighters, municipal employees and laborers, according to the 2022 Certified Annual Financial Report.
Yes Illinois is bankrupt and yes government employees are sitting in fat pensions. I’m curious: which company is in charge of paying out Illinois state govt pensions? Are they solvent? Where is the money coming from ?
For example, For many years the university of California paid out many of the pensions for lab at Livermore labs, Berkeley labs etc employees. They are no longer managing the pension program so it’s less attractive to potential workers. Who is paying out the pensions for all of the Illinois govt pensions? If it’s the tax payer well they are broke and the federal government has said they will not bail out Illinois no matter how many times they ask.
I can already hear the Karen’s screaming about losing their pensions, but how long until that happens?
I got stuck in this on Saturday. I was supposed to be onboard a river cruise (the Odyssey) that was departing at 7:30 PM. I could not get across the river.
I made my way to lower Wacker Drive and pulled a U-turn. I headed back north and made a right hand turn going east on Michigan Avenue right as the Police SUVs were blocking that intersection like all of the others. I parked my car and hoofed it back to the river but got turned around. I missed the boat.
It cost me $31 dollars to park for less than an hour. Had I made it on time I could have enjoyed three hours on the water drinking overpriced cocktails and then had my parking validated for $15 so I guess I got off cheap.
Going home I decided to take the outer drive rather than fight my way north on Ashland. What should have been a 30 minute trip took 55 minutes (I took Lake Shore Drive all the way to Sheridan). I was kicking myself because I got stuck in this last year all the way from the South Loop by Soldier Field.
My mom recently died (thanks, Pfizer) and I inherited her house along with my siblings. It is in a good neighborhood north of the city. I am reluctant to sell because I still have family here. When I retire I would like to keep the house but a $14,000/year property tax bill plus deferred maintenance will be tough to swallow.
I'm sure JB will do what he can to help me out. /S
Ready to be bailed out by the Federal gov't again.
Illinois, Chicago Set To Become More Dangerous As Cash Bail Ends | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
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Chicago has just ended cash bail , which I believe means that all suspects will just be released without needing to post bail money. Correct me if I am wrong.
It seems IL is putting itself right in the crosshairs of liberal decline.
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Illinois, Chicago Set To Become More Dangerous As Cash Bail Ends | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
Chicago has just ended cash bail , which I believe means that all suspects will just be released without needing to post bail money. Correct me if I am wrong.
It seems IL is putting itself right in the crosshairs of liberal decline.
Yes that's correct. Fuentes covered it last night.
So murderers, for example, will be released without bail, in the hopes that they come back for their trial and sentencing that could land them 30 years to life in prison.
Conversely, the righteous who oppose the jewish liberal order of wokeness, will get no such leniency in regards to imaginary political crimes such as speaking out against gays, rainbows, trannies or jews. They will get the harshest treatment normally reserved for rapists, murderers and violent terrorists.
Another terrible threshold in society has been crossed. There are basically no words.
I know a lot about the state and municipal pensions in IL - don't ask me how or why, lol - but they are muni "funds" that are run by each sector, which is a public grouping/fund with board (elected by the members) oversight. The taxpayer is the revenue/collateral, much like the Feds in terms of confidence, what's different (slightly) is that states or counties/munis are a little more sensitive to bond ratings, but they are still in a weird relationship with rating agencies where the agencies are more or less bought off by the political system or dependent on their payments to keep their own coffers full. Yes, I know, it's all a scam, because Moody's et al won't go full junk rating on anything because it would mean they lose money, ha. People or businesses believe that there will always be bailouts so they keep buying the bonds. We are coming to the cataclysmic finish though, which is pure math even if I'm right and the Feds do bail them out (they will). The problem will be the same, though, and the six figure pensioners will, I'm guessing, take a haircut (they'll whine about what they are "promised" but it won't matter) but they'll be paid mostly, just with massively inflated dollars. With the dollar as strong as it is currently worldwide, I don't think any of these people truly understand how in just 5-7 years there pension will be cut in half, at least, in purchasing power.
I see that NF went to Lyons Township High School. That's amusing.