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Chicago politics and events

It’s call winning and more countries will follow the playbook. Wait for the first CB to buy Bitcoin😘. You’re failing basic math.

Oh yea, I'm sure those pensioners are winning alright. They received BTC payments worth the equivalent of $45K/per a year ago. Now they have 40% less purchasing power.

That's before factoring in high inflation.
 
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Oh yea, I'm sure those pensioners are winning alright. They received BTC payments worth the equivalent of $45K/per a year ago. Now they have 40% less purchasing power.

That's before factoring in high inflation.
Do you really think the people of El Salvador are worse off today than they were before adopting Bitcoin as a currency? GDP growth? Tourism? Crime rates? Price of real estate? Ability to access money? 3 years ago it was literally one of the worse places to live.
 
Do you really think the people of El Salvador are worse off today than they were before adopting Bitcoin as a currency? GDP growth? Tourism? Crime rates? Price of real estate? Ability to access money? 3 years ago it was literally one of the worse places to live.

Yes. They are certainly poorer.
 
They might as well kept Beatle Juice!
You are correct Lucy. She would be preferable. Lightfoot was universally loathed in Chicago but what some people miss is there was a not-insignificant contingent that loathed her because they actually believed she wasn’t progressive ENOUGH. Imagine that.

I would wager a 15-20% contingent of absolute radicals who hated her for even having the nerve to enter into negotiations with CTU in 2019.

How do you avoid negotiations? Put CTU in the mayors office, no fuss, no muss.

Public sector unions are the most malignant and corrupt force in American politics today.

For those that complain about corporate cronyism. Now imagine that said corporation and said government officials are one in the same. They put people in office on the back of massive union donations, once in office said politician funnels more money back to the union to be used to re-elect them. An open checkbook. All while the powerless tax payer weeps.

And if the government does try to enter into a good faith negotiation? Well then we won’t teach your kids, we won’t police your streets, take the garbage to the dump yourself.
 
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It will be interesting to see ‘mainstream’ media ignore the empty storefronts on the mag. Mike, and other Chicago problems that are now seen in the loop as well as the storied south and west side neighborhoods.

Some of the iconic images of 1968 was the Chicago police breaking up the ’peaceful’ protests at the ‘68 Democratic Party convention.
 
Perfect city for the Dem convention. Only Portland, San Francisco, St Louis, Detroit, Baltimore, and maybe NYC come close in terms of quality of life.

 
Can anyone who subscribes to Crain's tell us what this is about?


Here's the article:

One part of the bill appears to have wide support. It would codify Preckwinkle's decision several years ago to begin contributing more to the fund than was actuarially required, something that has enabled the pension system to catch up after earlier underfunding and draw closer to having the assets on hand to pay promised benefits

Another section would give Preckwinkle two more appointees to the pensions system board. Currently she and County Treasurer Maria Pappas each select one person, with seven others elected by workers and retirees. Though there is some dispute over the shift, the Civic Federation says county officials or management should have more say on a board that is closer to parity with labor.

But it's a third clause that is drawing attention. It would boost the maximum wage base for purposes of pensions from $123,489 now to up to $160,000, the current cap used by Social Security.

Martwick says the change is needed to fix a flaw in the 2010 law that created a Tier 2 for newly hired government workers.

The law capped annual increases in benefits to the lesser of 3% or one half of inflation — the Consumer Price Index. Social Security uses a more expansive inflation measure. As a result, a significant gap steadily has grown between the county's and Social Security's maximum covered-salary figure.

Martwick said he doesn't know how much the shift would cost local taxpayers — the increase in pension likely would be reflected in a boost in the county's unfunded pension liability — but conceded it would cost "billions" if it was extended to state and other local government workers covered by the Tier 2 law. Eventually, he said, "I believe every pension fund in Illinois will have to adopt a Tier 2 fix."
 
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Here's the article:

One part of the bill appears to have wide support. It would codify Preckwinkle's decision several years ago to begin contributing more to the fund than was actuarially required, something that has enabled the pension system to catch up after earlier underfunding and draw closer to having the assets on hand to pay promised benefits

Another section would give Preckwinkle two more appointees to the pensions system board. Currently she and County Treasurer Maria Pappas each select one person, with seven others elected by workers and retirees. Though there is some dispute over the shift, the Civic Federation says county officials or management should have more say on a board that is closer to parity with labor.

But it's a third clause that is drawing attention. It would boost the maximum wage base for purposes of pensions from $123,489 now to up to $160,000, the current cap used by Social Security.

Martwick says the change is needed to fix a flaw in the 2010 law that created a Tier 2 for newly hired government workers.

The law capped annual increases in benefits to the lesser of 3% or one half of inflation — the Consumer Price Index. Social Security uses a more expansive inflation measure. As a result, a significant gap steadily has grown between the county's and Social Security's maximum covered-salary figure.

Martwick said he doesn't know how much the shift would cost local taxpayers — the increase in pension likely would be reflected in a boost in the county's unfunded pension liability — but conceded it would cost "billions" if it was extended to state and other local government workers covered by the Tier 2 law. Eventually, he said, "I believe every pension fund in Illinois will have to adopt a Tier 2 fix."
Thanks JDB
 
HOMESICK SNOWBIRD - - -

At The Villages in Florida last week, there was a bumper sticker on a parked car that read: "I miss Chicago.”

Someone broke the window, stole the radio, shot out all four tires, added a Biden bumper sticker and left a note that read: "Hope this helps."

🤣 🤣
 
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That first gas station is 5 minutes from my house, at the entrance to the Eisenhower on Harlem in Oak Park/Forest Park.

That's wild, but the part with people getting out of their car and yelling and screaming at each other is unfortunately something I've grown accustomed to. As is reckless, crazy driving (though little like that).

Prior to the summer of 2020, I might witness such things a few times a year. Now, I see such things a few times a week. It sucks.
 
That first gas station is 5 minutes from my house, at the entrane to the Eisenhower on Harlem in Oak Park/Forest Park.

That's wild, but the part with people getting out of their car and yelling and screaming at each other is unfortunately something I've grown accustomed to. As is reckless, crazy driving (though little like that).

Prior to the summer of 2020, I might witness such things a few times a year. Now, I see such things a few times a week. It sucks.
I'm sorry. Why don't you leave?
 
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