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Chicago Credit Risk Soars On Rahm Emanuel's Re-Election
It appears the re-election of Rahm Emanuel as Chicago Mayor has done nothing to assuage concerns about the city's insolvency. As Emanuel's victory became more assured, credit risk (measured by the spread between Chicago Muni yields and Treasury yields) has soared from 180bps to over 240bps.
Chart: Bloomberg
Furthermore, it has accelerated even more since the April 7th election. Recent statements by S&P that if the city fails to articulate & implement a plan by the end of 2015 to sustainably fund pension contributions, or if it substantially draws down reserves to fund contributions, they will likely lower the rating; has not helped (given that Moody's already have Chicago at Baa2 - just 2 notches above junk).
Chart: The Economist
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Just raise the taxes.
Or simply don't retire. Work 'til you drop.
I say "do both". Require government permission before you stop working and paying taxes.
Getting back to my idea for a second:riase the taxes until we find the optimal tax rate that maximizes tax revenue. Keynes would've. People exist to be farmed for taxes.
if the city fails to articulate & implement a plan by the end of 1015
Better a thousand years late than never.
American voting sheeple obviously love Zionist bosses like they love their Zio-media.
Glad I got the Fuck out of there!
Last one out turn out the lights
It has been fun to watch the demographic shifts in Chicago.
The "browns" are leaving as fast as they can, while the blacks just continue to marinate in their self-made cesspools, and Jews "comeback" and build new multi-lot homes. White kids from Ohio are not coming much anymore, or are leaving for southern states like Texas, and the old white Poles are dying off.
Soon, as a friend of mine is fond of saying, "Chicago will be just 'black and Jew.'"
The banksters need to repay us.
GOING BACK TO MY ROOTS?
Research shows that more than 90% of the African slave trade was controlled by Jews.
So black Americans are just electing their old masters again that transferred them to America...
Also a way to say "Thank you!".
I think they already did, just like Detroit. Its like suggesting a crack addict's predicament is to find the optimal dose of drugs...the optimal being the next higher dose, until overdose is reached. As with drug addicts, their tolerance level rises to accommodate each successive increase in dose so that the body loses its ability to sense when an overdose is imminent.
What would Corzine do ..........?
I freelance over th? internet and earn about 80-85$ an hour. I was without a job for 7 months but last month my paycheck with big fat bonus was $15000 just working on my computer from my home for 5-6 hours. Here's what i have been doing... www.globe-report.com
Are the Tylers overwhelmed by the number and variety of internet attacks on their site,
too disinterested to coordinate an effective response,
or just pissing on the floor in their own house?
They deserve nothing but the best. May Chitcago collapse in a fashion that makes Detroit look like Shangri-La.
Year To Date
Shot & Killed: 89
Shot & Wounded: 486
Total Shot: 575
Total Homicides: 104
All the fault of "white privilege," I have no doubt.
definitely what they want us to believe.
http://heyjackass.com/
breaks it all down.
mmm ... they sound "exceptional" in the Windy City.
I heard they want to raise taxes on all people that moved from Chicago.
Little late to get this done by the end of 1015 don't you think?
Chicago's problem is they've got so many sets of cooked books floating around that nobody knows exactly how bad it really is, but when they hit bankuptcy court it takes years just to figure out the roster of players.....
Generous teacher pensions continue as Illinois’ financial crisis worsens
Meet Neil Codell an Illinois educator with a $26 million state pension.
Look for 'Codell, Neil C' -- 4th from the top of the list. His estimated career pension is $26,661,604. That's almost $27 million for a single administrator within just one local Illinois school system (Niles, to be exact).
http://www.washingtontimes.com/news/2014/sep/1/generous-teacher-pensions-continue-as-illinois-fin/?page=all
http://dailybail.com/home/make-this-story-go-viral-you-thought-california-state-pensio.html
Some pretty sweet retirement packages they have, verdad.
But Chicago Public Schools is regarded as the finest educational institution in this or any other hemisphere, preparing a new generation of doctors, lawyers and astronauts to lead in the new century.
$27M pension? Remember . . .IT'S FOR OUR CHILDREN. WE MUST ALWAYS THINK ABOUT THE FUCKING CHILDREN!
If we were thinking about the children we wouldn't be burying them under infinite debt.
The K-12 cartel will demand payment.
Yo! Chicago's public schools gots to be near da top:
Chicago's Schools, Police Work To Stem Violencehttp://www.npr.org/2011/03/21/132678405/chicagos-schools-police-work-to-...
King Rahmy Should look deeply at this embarrassment, but the School Lobby probably just re-Elected him Obviously!
- VENDOR SPENDING
- Nearly $36 billion in disclosed spending was aggregated and delineated by school district covering the years 2011, 2012, and 2013. The top vendor industries were banks, busing companies, construction companies, health insurance, and food service providers
- Another egregious example of vendor spending continues to be the tens of millions spent on taxi cabs. In 2013, over $11.1 million was spent on taxi cabs with over $71,000,000 in payments since 2006. In 2012, we found that 47 Northern Illinois school districts didn’t follow bid - contracting requirements and an NBC5 investigation discovered 1 in 10 drivers of the school taxi cabs
had an arrest record.
- At least $55,000,000 million was paid out to “consultants” by Illinois school districts in the year 2013. With over 16,000 administrators and educators earning a six - figure salary, why were so many extra experts needed?
- Didn't see the $26 Million to one guy yet, but truth is stranger than fiction
- Should be Racketteering Investigations all across the USA, Hello FBI???
https://www.openthebooks.com/assets/1/7/Open_The_Books-_IL_School_Distri...
Knucks, I don't think the charts and math above include their billions in pension obligation bonds. So far, the bond insurers don't seem worried.
I mean, if I wrote a policy on a house that was running a meth lab in the basement, I would be concerned.
And what is the motivation for them to even try? Want to get thrown out of office? Just come up with an austerity plan.
Fuget aboud it......
The Global War on Terriers continues...
The Boston Terriers?
I thought it was the Afghan hounds we hated...
If you can't trust ol' Rahm?
http://www.rense.com/general74/demoem.htm
www.bollyn.com/the-zionist-criminal-network/
who *can* you trust?
"he Emanuel family name was Auerbach until 1936, although they are not related to the famous rabbinical family of Germany and Krakow named Auerbach. Ben said that his family was from Russia. (Well, the pale but not quite Russia.)
His father Ezekiel supposedly changed the family name to Emanuel when his son with that name died fighting Palestinians in 1936.
Many Jewish families in Palestine changed their names to make themselves sound like they actually came from Palestine. And you wondered where all those Jews disappeared during World War II?
Sheinerman became Sharon, Yezernitzky became Shamir, and Auerbach became Emanuel, and so on. And then multiply by a few hundred thousand. Voila! Millions of European Jews vanish from the face of the Earth - and build new lives in Palestine.
Ben told me that Emanuel Auerbach had died from "shrapnel in the knee" in 1936. When I asked him today for details on this incident he suddenly decided that he did not want to do an interview on the phone and hung up. "
- http://www.rense.com/general74/demoem.htm
Emanuel's father was a bona fide zio terrorist.
He blew up busses full of people among other things.
Rahm Emanuel's Father Specialized in Bus Bombings in Palestine
http://www.salem-news.com/articles/january262011/emanuel-palestine.php
don't you know that if a Jew does it, it's not terrorism?
http://electronicintifada.net/blogs/rania-khalek/israels-extermination-w...
Just like when the Jewish state blows up schools and hospitals and power plants - it's "defense"!
http://electronicintifada.net/blogs/rania-khalek/israels-extermination-w...
http://original.antiwar.com/justin/2014/07/08/who-started-the-cycle-of-v...
********
http://electronicintifada.net/content/netanyahu-government-knew-teens-we...
********
How dare you, Jews are not terrorists, they are chosen.
King Rahmy: AYE, It's good to be Da King!!
chief Chicago buddy will just forgive all debt and Yellen will just print a couple billion for good luck. Why bother with any sanity now.
Naw, Chicago Buddy in Chief will call up Eric Holder, have him stick up a few banksters, problem solved. It worked with Jamie Dimon in Detroit.
"re election" in quotes because the polls are entirely rigged in the USA.
In other news, Rahm Emanuel has repealed City taxes on Chicagos gay bathouses to stimulate the economy and in his words "Insure local patrons get more bang for the buck".
I heard the latest on Rahm was he is volunteering at the fudge packing factory, pushing in stools. He keeps going in the wrong way when parking the pink cadillac in the back alley, though.
I have the last will and testament to State Street Chicago in my possession. Unfortunately it is from 1842. Wadsworth family. But it is the real will.
They burned the place down once. Why not do it again.
The sheeple say Baa 2
Fucking Chicago.....stupid assholes elect a piece of shit like Emanuel....then re-elect the fucker.
They deserve his nappy ass....fools.
They elected corrupt governors. A number of them went to prison. Sringfield is wheeling and dealing for Chicago.
After Chicago winds up like Detroit Rahm can go back to sharing his bottom with Barry.
He's done such a fine job up there in Chiraq, that he should seriously consider taking on Pantsuit Cankles Lady for the Blue Team Captain in 2016.
Wow, what a disgraceful place this has become...
True. But the only thing different about Chuy is that in electing him Rham would thrown out. No one in Chicago believes there's a fix. Like Detroit, everyone is waiting for a bailout and a bankruptcy manager that will impose whatever he's going to impose. The politicians will be happy with that because then they can scream at the manager.
http://www.reddit.com/r/conspiracy/comments/2m57z8/top_hacker_guccifer_c...
http://www.shtfplan.com/headline-news/top-hacker-chicago-nuke-attack-pla...
The thing is - Guccifer was/is widely deemed to be legit.
And don't forget . . . unionized schoolteachers in Chicago were somehow allowed to "OPT OUT" of participation of social security . . . we got a pension, bitchez, we don't need that peon SS payment!
Imagine the expression on the face of a five-year-old (union member) when he realizes his ice cream cone (pension) just fell in the gutter.
The markets seem pretty assured they're fucked with rahm.... which is interesting to see numbers get real about facts. I wasn't sure they had that ability anymore.
Illinois in general is a tax-happy, pro-union oriented state. It's where the SEIU flocks.
SEIU as Astroturf - Protesters say, "Give up the bucks!"
"Where's our money, Save our children, give up the bucks"
https://www.youtube.com/watch?v=rSh7WUK1GDc
"Fed may allow banks to use muni bonds to meet liquidity rules: WSJ"
http://www.reuters.com/article/2015/04/17/us-usa-fed-municipals-idUSKBN0...
Another politically created cesspool courtesy of the black dick in DC. Stupid fucking people in Chicage deserve to get just what they voted for....idiots!
Another politically created cesspool courtesy of the black dick in DC. Stupid fucking people in Chicage deserve to get just what they voted for....idiots!
The Chicago plan is as follows. We look around and we see every city and state on the brink of pension collapse. We think that when the collapse begins there will be a federal attempt at bailout. First one city will receive billions of federal dollars by way of a bailout, then two cities, then five, and then....people will say "wait a minute...how can the federal government bailout the entire country???" And then the bailouts will stop. But Chicago, being the first in line will be one of the few cities to reap the rewards of total collapse before everyone wises up.
No one in official Chicago says this, but that's what we think. And we aren't going to do anything to change course in the meantime.
Chicago- The anchor baby capital of the USA. They can't build schools fast enough to house them all, while closing schools in black neighborhoods at the same time. Where do you think Barry sends all his potential Dem voters that he loads onto buses straight from Mexico.
Gangster POS put a fish in every mail box.
The Ratings Houses are known for their generosity.
Situation Rep: FUBAR Tango Uniform.
http://www.middleeast.org/archives/1999_01_06.htm