LiquidityRiskGuru

#Liquidity Risk Guru. #MSU '08. Self-proclaimed #CigarAficionado, #Oenophile, #Skier, #SCUBA diver & #Travel Junky.

[Austin Berg @Austin__Berg]

NEW: The Chicago Board of Education today voted 11-7 to pass a $10B budget that the district’s own superintendent and CFO said is unbalanced, with every yes vote backed by Mayor Brandon Johnson and the Chicago Teachers Union.

The budget assumes $150M in additional revenue from the state that will almost certainly not arrive.

This recklessness threatens credit downgrades in the immediate term and financial chaos in a matter of months.

But as the below clip of Stacy Davis Gates shows, that’s on purpose. Creating a crisis is the point.

CTU leadership is setting the city’s house on fire and hoping insurance pays out.

[Crémieux @cremieuxrecueil]

This is amazing.

The White House waived Jones Act requirements in mid-March, and it's generated billions in economic activity and revealed tons of natural trade routes that were impossible while the Act was in effect.

We really need to permanently remove this stupid law!

[Stuart Loren @StuLoren]

Less??

[Alexander Lacherbauer @lacherbauer]

Chicago’s relevance or prominence seems to have peaked in the 90s/00s. Why? It’s a mix of factors. Some were simply beyond anyone’s control, things naturally age out: the Bulls, John Hughes films, Oprah, Springer, even Obama's rise, moments/phenomenons pass. One of the biggest factors, though, was local leadership. Mayor Richard M. Daley was an aggressive booster who took promoting and running the city quite personally, it showed in the development and civic momentum during those years. The population grew for the first time in 50 years. Daley seemed to seize every opportunity that arose, even if he didn't get everything right. Some of that momentum carried into Rahm Emanuel's administration, its totally gone now with the shambolic Lightfoot and Johnson mayorships. Also, Rising crime numbers during pro-crime State’s Attorney Kim Foxx’s tenure contributed to a perception that Chicago was less hospitable to residents and businesses, shootings and lootings were regular headlines. Economically, while Chicago remains a major financial center, it didn't emerge from the GFC with the same renewed momentum as NYC, and it never captured the scale of the VC and startup boom that transformed the Bay Area. Chicago seems to be coasting on past momentum, and momentum decays unless new energy is continually applied. @david_perell

[Shipwreckedcrew @shipwreckedcrew]

Wisconsin as a state is going to come face-to-face with the reality of allowing itself to be ruled by the wackos in Madison.

Great backstory for her -- she ran a Ramen shop with her husband. But she wanted to give raises to all the workers so they would have a "sustainable wage" even when the business was financially unable to sustain such wages.

So she closed the doors and fired everyone.

How about them sustainable wages??

Can't run a Ramen shop --> leading race for Dem. nod for Gov.

[Jack Leyhane @JackLeyhane]

You can't have property taxes without a property tax base. Cook County's base is *gone*. Homeowners can't make up the difference. Can. Not. Unless we can make Chicago more attractive to businesses, thereby building the economy, we will be Detroit 2.0.

[Richard Hanania @RichardHanania]

Democrats are not only picking socialists as candidates, but general losers in life.

Francesca Hong, likely to be the next candidate for governor in Wisconsin, was sued just this year by Capitol One for $30,000 in unpaid bills.

Poor, overeducated malcontents are the DSA base.

[Christopher Clarke @EconChrisClarke]

If you want to discuss affordability, it is malpractice to show the rise in nominal prices without the corresponding change in nominal wages. Groceries are cheaper today than they were in 2019, for the median worker. And have been since September 2023.

[Jessica Riedl 🧀 🇺🇦 @JessicaBRiedl]

Seeing people use housing prices to claim housing was dramatically cheaper in the 1970s - without incorporating the past sky-high mortgage rates into annual mortgage costs. Here's annual mortgage P&I costs as a share of median income. Its rising, but still below the late 70s.

[Sara Eisen @SaraEisen]

As Ken Griffin said, a ceo was murdered on the street of NYC a year and a half ago, sparking safety concerns. Why is the Mayor doxing wealthy NYC homeowners ?

[clara the urbanist @SlopHq]

we regret to inform you that the entry-level urban life your parents describe — cheap studio, walk to work, weird neighbors, no car — was not destroyed by the market. it was voted out of existence at meetings, one variance denial at a time, by people who already had theirs

[Swann Marcus @SwannMarcus89]

The story of the last 16 years is Democratic Party primary voters moving left while literally everyone else moves right

If they don’t pull their head out of their ass, a GOP president will win Virginia and Minnesota before Democrats win Texas

[Jessica Riedl 🧀 🇺🇦 @JessicaBRiedl]

I think a significant contributor to GenZ socialism is the internet-fed myth that people in the 1970s graduated from high school and then bought 4,000 square foot homes, expensive cars, and regularly flew to Europe for 3-week vacations. They think everyone else had it so easy.

[Davor Vitković @DavorVitkovic]

So Jaylen Brown didn't wanna be Robin in Boston. Now he will be Alfred in Philly

[ُ @Asensii20]

Messi’s reputation is so fucked even footballers like Müller are coming out and talking about how referees always favored him in games

[Boo @IzaBooboo]

As a conservative, I am not one for progress just for the sake of progress, but this data center freak out looks a lot like the nuclear power panic in the 70s, and that ended up causing real damage to the country.

[Shawn Regan @Shawn_Regan]

Democrats are big fans of permitting reform—except for the part where anyone actually reforms the permitting process.

[charcoalandmowers @charcoalnmowing]

@johnnyginkle_76 I keep seeing the answer being to raise the dues. The dues were lower 20 years ago when it was apparently better. Maybe don’t price out 99% of the country and just do a better job both selecting new members and holding current members accountable.

[Abigail Jackson 🇺🇸 @abigailmarone]

My husband after trying to make an interior decorating decision.