Illinois

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Couple Fined $746 For The Crime Of Feeding Homeless People In Florida Park





It is a well known historical trend that as discontent and dissent spread within a society, the power structure will look to demonize unpopular or weak minorities in order to deflect frustrations away from the true culprit, the power structure itself. If we want to see how the state and crony corporate status quo will treat everyone in the future, all you have to do is look at the current “war on the homeless.”

 
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Chicago Considers Boosting Minimum Wage To $15/Hour





If there is one thing that the militarized warzone with the weapons ban (and which makes east Ukraine look like a kindergarten) namely Chicago, did not need in order to fall further into social chaos and disarray, it is a new tidal wave of unemployment: people freshly without jobs who for lack of better options would likely join the daily survival of the fittest routine on the streets of the windy city. And a tidal wave of unemployment is precisely what Chicago is likely to get if, as a group of Chicago aldermen have proposed, the minimum wage in the nation's third-largest city is nearly doubled to $15 an hour. Why $15? Because according to recently striking McDonalds line cooks, it's only fair, and is the minimum pay that fast-food workers have sought during national protests.

 
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Fun Fact: Shale Strippers Make Up To $2,500 Per Night





We have discussed the 'downside' of America's "black gold" rush and the town of Williston, North Dakota is the poster child for the costs and benefits of this exuberance. But, as The BBC reports, there is some silver lining for those willing to deal..."Strippers can earn $2,500 per shift here," says a bouncer, "but the men here are 100% worse. It's horrible. They're animals."

 
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SEC Official Claims Over 50% Of Private Equity Audits Reveal Criminal Behavior





Mr. Bowden, who heads the SEC’s examinations unit, speaking at a private equity conference, explained that “more than 50 percent of private equity firms it has audited have engaged in serious infractions of securities laws.” What is so incredible about the talk, is that while Bowden goes into details of shady practice after shady practice, he ultimately admits that the SEC isn’t being particularly aggressive with the private equity industry because “we believe that most people in the industry are trying to do the right thing, to help their clients, to grow their business, and to provide for their owners and employees.” What the SEC is basically admitting, is that private equity firms are also “too big to regulate” and, of course, “too big to jail.”

 
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Initial Claims Drop But Alaska & New Jersey Remain Top Of "Insured Unemployed" List





The total number of people claiming benefits in all programs for the week ending April 19 was 2,832,693, an increase of 10,353 from the previous week (on an unadjusted basis) but the headlines will gloat of the drop in initial claims after last week's rather disturbing spike (which temporarily destroyed the pent-up demand post-weather meme). Initial claims dropped 26k to 319k, beating expectations. New York and Massachusetts saw the largest increase in claims while Michigan and New Jersey the largest drop.

 
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Half Of Illinois Wants To Live Elsewhere (But Nevadans Are The Most Anxious To Leave)





While every state has at least some residents who are looking for greener pastures; as Gallup reports, nowhere is the desire to move more prevalent than in Illinois and Connecticut. In both of these states, about half of residents say that if given the chance to move to a different state, they would like to do so (against an average 33% of all Americans who would prefer to live in another state than their own). The 'greenest pasture' or least disliked, according to Gallup, is Hawaii and Montana (where only 23% would prefer to leave). The biggest factor driving the desire to leave the current state - unsurprisingly - jobs (or business opportunities)... and Nevada residents (thank you Harry Reid) the most anxious to leave in the next 12 months.

 
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Five Stunning Facts About America's Prison System You Haven't Heard





America’s massive prison system is creating a long list of unintended consequences, some of which will effect all of us in the coming years. To help explain just how bad things have gotten, we’ve compiled this list of the most stunning facts and statistics on the America’s prison system today.

 
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"Blame The Weather" - For These CEOs, There Is Nothing Worse Than Snow In The Winter





Since stupidity rapidly goes mainstream, the same excuse used to "explain" away housing and economic deterioration was instantly (ab)used by a barrage of public company CEOs, whose earnings results were disappointing for only one reason (in their minds) - the weather. Because one always needs a narrative - any narrative - to explain away stories such as this: "Q1 Earnings Season Summary: More Than Half Have Missed Revenues"...

 
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White House Former Chief Of Staff Joins Hedge Fund Launched By Former JPM Prop Traders





"The amount of experience he has is ridiculous," says former JPM prop trader Galuti, adding "- in a positive way," as he explains why former Clinton Commerce secretary (and Obama chief of staff) Bill Daley has joined the small Swiss-based hedge fund. The revolving door of favors continues as Daley, who The FT reports will be based in Chicago and oversee US expansion (as well as provide macroeconomic and political advice), joins an ever-growing number of former Obama administration officials to have taken jobs in the financial sector.

 
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These Are America's Most And Least "Taxing" States (And Everything Inbetween)





One of the most consistent debates emanating out of Washington in the past 6 years has been that dealing with income tax. Whether high, low, "fair" or "unfair", said discussions, however, focus solely on tax paid at the Federal level, and largely ignore that "other" key tax: state. Which is surprising, considering some states such as California demand a total contribution amounting to a third of the highest marginal Federal tax bracket, which could make some wonder if those bracing sea breezes are really worth it. But what about the other states? Here is the full breakdown of the states with the top income tax rates, those with the lowest, and all the states inbetween.

 
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Hyper-Sensitive Illinois Mayor Orders Police Raid Over Parody Twitter Account





There is now a systemic two-tier justice system operating in these United States, and the result will unquestionably be tyranny if the trend continues unabated. The latest example of a lowly citizen being subject to a disproportionate use of the law, is Jon Daniel of Peoria, Illinois. Jon was behind a parody Twitter account that mocked Peoria mayor Jim Ardis, and his biggest mistake was not making it clear that it was a parody. As a result, Twitter had already suspended the account weeks ago. Problem solved, right? Wrong. The tough guy mayor was so offended that a plebe would dare criticize his royal highness that he ordered a police raid on the home of Jon Daniel and his roommates.

 
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Meanwhile In Illinois...





 
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Initial Jobless Claims Drop To 4-Month Lows





Initial jobless claims dropped 10k this week to 311k - the lowest in 4 months - offering little bad-news-is-good-news hope for renewed un-tapering to pump stocks back up. Illinois, New York, and Pennsylvania (all weather-related) saw the biggest drops in claims in the prior week. Continuing claims also fell 53k to 2.82 million, its lowest in 3 months.

 

 
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