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Department of Transportation declares regional emergency following BP refinery fire in Indiana

Department of Transportation declares regional emergency following BP refinery fire in Indiana Kirklareli / Turkey – Aug, 30, 2021: Lighted Sign Board with Large British Petroleum, BP Logo Placed on a poll in the highway gas station. A Department of Transportation agency declared a regional energy emergency for four Midwestern states on Saturday after a fire at […]

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Illinois’ financial decay spreads to cities across the state

Illinois’ financial decay spreads to cities across the state Illinois’ finances aren’t just decaying at the top, they’re falling apart everywhere. The state’s one-size-fits-all pension laws and overly generous benefits have left many cities suffocating under impossible pension debts as their populations shrink, tax burdens jump and resident incomes stagnate.  Without an amendment to the Illinois Constitution’s pension protection clause – and subsequent pension reforms – […]

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Crop Catastrophe In The Midwest – Latest USDA Crop Progress Report Indicates That A Nightmare Scenario Is Upon Us

Crop Catastrophe In The Midwest – Latest USDA Crop Progress Report Indicates That A Nightmare Scenario Is Upon Us The last 12 months have been the wettest in all of U.S. history, and this has created absolutely horrific conditions for U.S. farmers.  Thanks to endless rain and historic flooding that has stretched on for months, many […]

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Total Catastrophe For U.S. Corn Production: Only 30% Of U.S. Corn Fields Have Been Planted – 5 Year Average Is 66%

Total Catastrophe For U.S. Corn Production: Only 30% Of U.S. Corn Fields Have Been Planted – 5 Year Average Is 66% 2019 is turning out to be a nightmare that never ends for the agriculture industry.  Thanks to endless rain and unprecedented flooding, fields all over the middle part of the country are absolutely soaked […]

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Outlaw Government Pensions? The Hunt for Endless Taxes

Outlaw Government Pensions? The Hunt for Endless Taxes The commentary that has appeared in Forbes calls for the only solution is to outlaw pensions. This is actually what will happen. Because there is no resolution, the government pensions will demand to raise taxes and then there is never any reform in government so the end […]

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The Fate of All Municipal Governments – Look to Peoria, Illinois

The Fate of All Municipal Governments – Look to Peoria, Illinois The system we have is totally corrupt and it outright UNSUSTAINABLE!!!! In Illinois, the city of Peoria has been forced to eliminate 22 firefighter and 16 police positions even after they made 27 layoffs earlier this year. Besides eliminating employees, they are now looking at adding […]

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JP Morgan Expert: True Debt, Pension, Healthcare Payments Would Consume Half of Illinois Revenue, Bankruptcy Option Needed

JP Morgan Expert: True Debt, Pension, Healthcare Payments Would Consume Half of Illinois Revenue, Bankruptcy Option Needed Michael Cembalest is Chairman of Market and Investment Strategy at J.P. Morgan Asset Management. His report released yesterday, The ARC and the Covenants, updates his earlier research comparing the percentage of state revenues needed to pay interest on […]

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Moody’s: Illinois pension debt-to-revenue ratio hits all-time high for any state

Moody’s: Illinois pension debt-to-revenue ratio hits all-time high for any state According to a new report by Moody’s Investors Service, Illinois’ unfunded pension liabilities equaled 601 percent of state revenues in 2017, a U.S. record. Illinois’ pension debt has set a new record to which no state should aspire. Credit ratings agency Moody’s Investors Service […]

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Spotlight Danville, Illinois, My Home Town: Bankrupt

Spotlight Danville, Illinois, My Home Town: Bankrupt Danville Illinois is bankrupt. That’s not an official announcement yet, but it will be. Pensions are at the heart of it. I have talked about my relationship with Danvile before, but here is a brief recap. I grew up in Danville, Illinois, the home of Chuckles (the candy), […]

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Illinois to Impose 1% Property Tax on Top of Everything Annually for 30 Years

Illinois to Impose 1% Property Tax on Top of Everything Annually for 30 Years   In Illinois is a State that should just commit suicide and be emerged into surrounding states. It is following the EXACT pattern as the fall of the city of Rome itself. Constantine the Great moved the Roman capital from Rome to […]

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Illinois Politicians Are Doubling Down on Failure

Illinois Politicians Are Doubling Down on Failure In the face of a fleeing population, politicians in Illinois are doubling down on the policies that are driving people away in the first place. When I did a poll earlier this year, asking which state would be the first to suffer a fiscal crisis, I wasn’t terribly surprised that Illinois […]

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Creditworthiness of New York and Illinois: One is Bankrupt

CREDITWORTHINESS OF NEW YORK AND ILLINOIS: ONE IS BANKRUPT  Summary Unless used for capital improvements, any new Illinois State borrowing, regardless of security structure, will amount to nothing more than kicking the can further down the road. Markets remain open to uncreditworthy government borrows longer than they should. In a low interest rate environment, investors will […]

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“From Horrific To Catastrophic”: Court Ruling Sends Illinois Into Financial Abyss

“From Horrific To Catastrophic”: Court Ruling Sends Illinois Into Financial Abyss First Maine, then Connecticut, and finally late on Friday, confirming the worst case outcome many had expected, Illinois entered its third straight fiscal year without a budget as Republican Governor Bruce Rauner and Democratic lawmakers failed to agree on how to compromise over the […]

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Illinois Comptroller: “The State Can No Longer Function”

Illinois Comptroller: “The State Can No Longer Function” With just 10 days to go until Illinois enters its third year without a budget, resulting in the state’s imminent downgrade to junk status and potentially culminating in a default for the state whose unpaid bills now surpass $15 billion, Democratic Illinois Comptroller Susana Mendoza issued a […]

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Illinois on the Brink of Bankruptcy

Illinois on the Brink of Bankruptcy  The Hunt for Taxes The pension crisis is brewing and the one state that appears to be heading toward a complete bankruptcy is Illinois. Clients should not own ANY debt from Illinois, be it city, municipal, or state. Just get out before the curtain falls. The Illinois Constitution plainly states […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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