Debt, Dope, and Casinos: Chicago Is Circling The Drain
Neither Chicago defaults on the pension promises it’s made to city workers or it defaults on its massive debt. It’s simple arithmetic.
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The Fall of Chicago. There Will Be No Economic Recovery
The difference between the two cities is that Chicago’s debt and unfunded liabilities are more than three times higher than Detroit’s were when the city declared bankruptcy in 2013.
...To put things in perspective: Every Chicago household is currently on the hook for at least $63,800 in local-government debt.
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Chicago is toast. I don't have much hope. I appeal to all my loved ones to find a small town or medium sized city in a different state and move there. Quit subsidizing their shitty schools, leave behind their chronic rampant crime and broken justice system. I left 8 years ago and only go back for family reasons. I come back commenting on how dark energy is everywhere. Being downtown at night is like being in a Batman movie. I'm creeped out by the feeling that runs through me. The anger is in the air.
Chicago as an entity has never been united in any way, possibly a Bulls championship riot. It prides itself on being a "city of neighborhoods", which is nice, but very provincial. I'm surprised some of those neighborhoods haven't built a wall around themselves. In many ways that has already been done with railroad tracks, viaducts, cemeteries, designed expressways and waterways marking demarcation. Within your 'hood', one may describe themselves being from St. Elephants' or Blessed Mother of God parish. Latin Kings, Gangster Disciples and whoever they decide should be dead. There are 50 ward organization, or 50 shakedown operations, which one may be a loyal member. If you are, your loyalty goes to your 'Chinaman' or sponsor. And don't ask questions.
Internally, Chicago has always been divided on long-standing affiliations, except being Republican, that is. You were from the Southside or the Northside. You were a Sox fan or a Cub fan. You were Irish or Polish. You were Mexican or Puerto Rican. You were black or white. Very seldom did they meet in togetherness. Stay in your neighborhood.
So the cancer of identity politics killed this city, as it is killing the country. Chicago is the perfect long term example of divide and conquer. Each ward, parish, sports team, ethnic persuasion has looked at each other with suspicion and dread. It's ingrained in the make up of the population. So much bossiness, so many victims in one spot. "Wheres mine?", the Mike Royko motto of the city, can't apply to everyone, especially when the takings are getting smaller. The bankers get the loot. Rahm Emmanuel sealed that deal. Now the vultures pick on the remains. Mayoral run off in 5 weeks.
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Study: Chicago’s Middle Class ‘Almost Gone,’ Majority Either Rich or Poor
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