Mish: Chicago Headed For Insolvency, Get The Hell Out Now!

By Tyler Durden – 11/04/2019

Authored by Mike Shedlock via MishTalk,

Chicago Mayor Lori Lightfoot and the Teachers Union reached agreement on a deal sure to send Chicago over the cliff.

The Wall Street Journal Editorial Board blasts Chicago Mayor Lori Lightfoot for her deal with the Chicago Teachers Union (CTU). The deal will further wreak havoc on the already insolvent school system.

Who will be hurt most?

The WSJ answers the question this way: Union Routs Students in Chicago.

Contract Details

16% raise over five years (not including raises based on longevity)
Three-year freeze on health insurance premiums
Lower insurance copays
Caps on class sizes
More than 450 new social workers and nurses.
New job protections for substitute teachers who going forward may only be removed after conferring with the union about “performance deficiencies.”
Chicago Public Schools will become a “sanctuary district,” meaning school officials won’t be allowed to cooperate with the Immigration and Customs Enforcement without a court order.
Employees will be allowed 10 unpaid days for personal immigration matters.
Under the new contract, a joint union-school board committee will be convened to “mitigate or eliminate any disproportionate impacts of observations or student growth measures” on teacher evaluations.
Instead of student performance, teachers will probably be rated on more subjective measures, perhaps congeniality in the lunchroom.
The new union contract caps the number of charter-school seats, so no new schools will be able to open without others closing.

Get the Hell Out

The WSJ commented “Michelle Obama the other day complained that white people were leaving the city to escape minorities who are moving in. No, they’re fleeing Chicago’s high taxes and lousy schools—and so are minorities.”

Chicago Public School Bond Ratings

You can kiss those positive and stable outlooks goodbye. The system is insolvent and this contract will further weaken the outlook.

Bond Rating Comparison

S&P already has CPS bonds in the “highly” speculative area, five steps into its junk ratings.

Pension Spiking

A Chicago Teacher’s Pension is based on your years of service and a pension percentage (up to 75%), multiplied by your final average salary. Their union notes “There are ways to increase these factors to enhance your pension or meet eligibility requirements.”

Let’s Discuss Pensions

Wirepoints asks Chicago Teachers Strike: Why is No One Talking About Pensions?

The average retired CPS teacher already receives a pension of nearly $55,000 a year, according to a 2019 FOIA request to the Chicago Teachers’ Pension Fund.

However, looking at the pension of an average teacher far understates the true size of CPS pensions. The “average” benefit includes teachers who only worked a few years for CPS, which brings down the average.

To get a more accurate picture of what pensions are really worth, look at career teachers. Over half of all currently retired CPS teachers worked 30 years or more. On average, they receive a $72,000 annual pension and began drawing benefits at age 61.

In comparison, the average annual Social Security payment in Chicago is just $16,000 and the maximum benefit for someone retiring at age 62 is $26,500.

C-O-L-A Cola, la la la Payola

The average career CPS pension will grow by 3 percent, compounded annually, due to the COLA benefits teachers get. That will double a teacher’s annual benefit to over $140,000 in 25 years.

Teacher Contributions

Those projections were based on the proposed contract. The CTU held out for even more benefits and got them.

Pension Funding Level

The Chicago Tribune notes that the end of 2018, City Hall’s pension funds had only 23% of what they should have.

By 2023, Lightfoot must find an additional $989 million a year for pensions, according to the Tribune’s Hal Dardick and Juan Perez Jr. Thank you, former mayors and aldermen, for promising more pension benefits than Chicagoans could afford.

Who Will Pay?

That one is easy.

The kids will suffer because charter schools are reined in, grading standards lowered, and incompetents were given further projections.
Taxpayers will face higher property taxes, higher gas taxes, and higher sales taxes with every penny going to pensions.

Get the Hell Out

On October 5, I commented Escape Illinois: Get The Hell Out Now, We Are

Goodbye Illinois. Hello Utah. See my reasons for Utah above.

If you can’t get out of Illinois, do the second best thing, Get the Hell Out of Chicago.

By the way, Chicago is not “headed” for insolvency, it’s already there, but it is just not recognized yet.

November 4, 2019 0

CAUGHT: LEFTIST BANK BUSSED IN “ATTENDEES” AT DEM DEBATES

Democrats are notorious for bringing in out-of-state supporters

Millie Weaver – OCTOBER 18, 2019

**Millie Weaver and crew captured footage of buses bringing in “staged” protesters, marchers, and sign-wavers to the 4th Democrat primary presidential debate held in Ohio.**

The buses just so happened to be chartered by SEIU, the Service Employees International Union, which is one of the largest leftist only unions that happens to own Amalgamated Bank (AMAL) which exclusively funds progressive NGOs, the DNC and Democrat party candidate campaigns through loans.

Amalgamated Bank (AMAL) is not only tied to the DNC and Democrat party candidates, but it funded the Occupy Wall Street movement, Black Lives Matter and other radical leftist protest groups.

AMAL was investigated and taken to court by the FDIC for allowing too many delinquent loans to go unpaid.

AMAL recently gave the DNC a $10 million dollar loan.

The current CEO and president of AMAL is Keith Mestrich, former executive to SEIU, who currently is on the board of directors for Democracy Alliance, founded by George Soros.

Millie Weaver recently interviewed investigative journalist Tore of Red State Talk Radio and Lauraloomer.us about AMAL and how they may be using union workers’ pension funds and investments as leveraged assets to borrow against to fund their Democrat and progressive agenda.

October 18, 2019 0

Elijah Cummings Signed Subpoenas From His Death Bed – But Signatures on Two Subpoenas Don’t Match

by Cristina Laila October 17, 2019

It was revealed Thursday morning that longtime Democrat Congressman Elijah Cummings (MD) died at the age of 68 on Wednesday.

Cummings was the Chairman of the very powerful House Oversight Committee and he was pumping out subpoenas while he was in hospice.

In fact, it was revealed that he signed subpoenas from his death bed just hours before he died.

Or did he?

The signatures on Cummings’s October 16 subpoenas look completely different from a September 30 subpoena so people are asking who really signed the documents.

CNN reported on Thursday that Rep, Cummings signed subpoenas directed to two US immigration agencies just hours before he died.

In one of his last official acts before his death, the late House Oversight and Reform Committee Chairman Elijah Cummings signed two subpoenas for documents related to a temporary end to a policy change that allowed some immigrants with severe health issues to remain in the US.

Hours before his passing, staffers drove the subpoenas to Baltimore for Cummings’ signature, said a Democratic committee aide.

“Chairman Cummings felt so strongly about the children, that he was going to fight until the end,” said the aide.

Elijah Cummings’ signature on the October 16 subpoena looks very different from his signature on other documents.

Screenshot of October 16 subpoena:

Cummings’s signature on page 3 of the October 16 subpoena looks different from page one:

October 18, 2019 0

VIDEO: GENDER STUDIES PROFESSOR BLAMES TRUMP FOR BLACK FEMALE OBESITY

Says it’s harder for black women to lose weight because of racism.

Paul Joseph Watson – OCTOBER 16, 2019

During a television appearance, a New Jersey gender studies professor claimed that President Donald Trump’s policies were to blame for black female obesity.

“I hate when people talk about Black women being obese. I hate it, because it becomes a way to blame us for a set of conditions that we didn’t create,” said Brittney Cooper during a discussion on ‘Black Women OWN the Conversation’, which is broadcast on the Oprah Winfrey Network.

“We are living in the Trump era,” the professor added. “And look, those policies kill our people. You can’t get access to good health care, good insurance.”

“I hate when people talk about Black women being obese. I hate it, because it becomes a way to blame us for a set of conditions that we didn’t create.” – @ProfessorCrunk.

Watch full episodes of #BlackWomenOWN the Conversation and more on the OWN app or https://t.co/NeZ9hnezAR. pic.twitter.com/pRKukjqbnV

— Black Women OWN the Conversation (@BlackWomenOWN) September 16, 2019

Presumably, she believes there were no black obese women before Trump was elected.

Cooper then went on to assert that it’s harder for black women to lose weight than white women because they are more stressed about racism and it slows down their metabolism.

Yes, really.

“It’s literally that the racism that you’re experiencing and the struggle to make ends meet actually means the diet don’t work for you the same,” she claimed.

Now a generation of clinically obese black women can just blame racism for their inability to lose weight and continue stuffing their faces with cake.

How inspiring!

October 16, 2019 0

Lebron James Kneels Before His Chinese Overlords, Then Grovels On Social Media

James has shown his incredible lack of intelligence.

By Shane Trejo

NBA super star Lebron James embarrassed himself on Monday, making incoherent statements regarding China while referencing comments made by Houston Rockets general manager Daryl Morey in favor of Hong Kong freedom protests against the rogue communist state.

“I don’t want to get into a [verbal] feud with Daryl Morey, but I believe he wasn’t educated on the situation at hand, and he spoke,” James said to reporters before a preseason game between the Los Angeles Lakers and Golden State Warriors.

“And so many people could have been harmed not only financially, physically, emotionally, spiritually. So just be careful what we tweet and say and we do, even though, yes, we do have freedom of speech, but there can be a lot of negative that comes with that, too,” James added.

When reporters asked James to explain his incomprehensible comments, he could not do so. He just continued to repeat what sounded like a script, which very well may have been prepared by his Chinese masters.

“I believe he was either misinformed or not really educated on the situation, and if he was, then so be it,” James said.

“I have no idea, but that is just my belief. Because when you say things or do things, if you are doing it and you know the people that can be affected by it and the families and individuals and everyone that can be affected by it, sometimes things can be changed as well. And also social media is not always the proper way to go about things as well, but that’s just my belief,” he added.

After James was destroyed on social media for his stunningly low IQ comments, he backtracked hours later – showing that he lacks a spine as well as a brain.

James’ embarrassing comments come at a time when the NBA is under fire for appeasing China while showing no regard for the values of free speech. Morey was forced to grovel publicly for offending China at a time when the NBA was celebrating its supposedly “woke” liberal opinions on social issues.

“I did not intend my tweet to cause any offense to Rockets fans and friends of mine in China. I was merely voicing one thought, based on one interpretation, of one complicated event. I have had a lot of opportunity since that tweet to hear and consider other perspectives,” Morey said in a nauseatingly obsequious apology.

“I have always appreciated the significant support our Chinese fans and sponsors have provided and I would hope that those who are upset will know that offending or misunderstanding them was not my intention. My tweets are my own and in no way represent the Rockets or the NBA,” he added.

James had previously interjected himself into matters of U.S. politics as if he was some kind of an authority. He regularly criticized President Donald Trump, and voiced support for washed up former NFL QB Colin Kaepernick as he led his anti-American kneeling act for publicity.

“He doesn’t understand the power that he has for being the leader of this beautiful country. He doesn’t understand how many kids, no matter the race, look up to the president of the United States for guidance, for leadership, for words of encouragement…. The people run this country, not one individual — and damn sure not him,” James said about President Trump in 2017.

“I stand with Kap. I kneel with Kap. I feel like what he was talking about nobody wanted to listen to. Nobody wanted to really understand where he was coming from,” James said about Kaepernick in 2018.

James also tweeted this Martin Luther King tribute, which his seem at odds with his China commentary.

It turns out that James never had a real opinion of his own. He was just a propaganda puppet for Chinese communists this entire time.

October 15, 2019 0

Another One Bites the Dust: Dreadlock Girl Hate Crime is Exposed as a Hoax

By Jose Nino

It’s almost as if hate crimes are happening every day.

Well, that’s if you believe everything coming from the mainstream media.

Last Monday, Amari Allen, a sixth grader, claimed she was ”assaulted” during recess at her school playground by three white boys.

The student of Immanuel Christian School in Springfield, Virginia told the New York Times “They put me on the ground” during a phone interview. “One of them put my hands behind my back. One put his hands over my mouth. One cut my hair. They were saying that my hair was ugly, that it was nappy.”

However, the Washington Post revealed on Monday that the girl has withdrawn her story.

“The sixth-grade girl at a private Virginia school who accused three classmates last week of forcibly cutting her hair now says the allegations were false, according to statements from the girl’s family and the principal at Immanuel Christian School in Springfield. School officials met with the girl and her family Monday morning before releasing the statement,” the Post stated.

The grandparents of the girl, who are her in effect her legal guardians, released a statement on Monday.

“To those young boys and their parents, we sincerely apologize for the pain and anxiety these allegations have caused,” the grandparents wrote in a statement sent to The Washington Post by the school. “To the administrators and families of Immanuel Christian School, we are sorry for the damage this incident has done to trust within the school family and the undue scorn it has brought to the school. To the broader community, who rallied in such passionate support for our daughter, we apologize for betraying your trust.”

“We understand there will be consequences and we’re prepared to take responsibility for them,” the statement continued. “We know that it will take time to heal, and we hope and pray that the boys, their families, the school and the broader community will be able to forgive us in time.”

The school’s principal, Stephen Danish, also released a statement and sent out an email to the school’s parents.

“We can now confirm that the student who accused three of her classmates of assault has acknowledged that the allegations were false. We’re grateful to the Fairfax County Police Department for their diligent work to investigate these allegations,” Danish wrote. “While we are relieved to hear the truth and bring the events of the past few days to a close, we also feel tremendous pain for the victims and the hurt on both sides of this conflict. We recognize that we now enter what will be a long season of healing.”

Another hate crime hoax bites the dust.

Like the previous Jussie Smollett hoax, this incident represents another attempt by unscrupulous individuals taking advantage of America’s political correctness culture and manufacturing outrage to create division in the country.

Thankfully, this hate crime hoax turned into nothing.

October 1, 2019 0

UK school under fire for hosting ‘Resisting Whiteness’ event with rules discriminating against white people

The University of Edinburgh has allowed a ‘Resisting Whiteness 2019’ event to proceed at its venue, even though there was outrage over organizers’ rules, which limited white people’s access to a microphone and to certain rooms.

The conference, aimed at raising awareness about “the importance of anti-racist action in the UK” took place at Pleasance Theater, owned by the University of Edinburgh, Scotland, on Saturday.

It was organized by a group tellingly named ‘The Resisting Whiteness Collective,’ which describes itself as a “not-for-profit grassroots organization of QTPOC [Queer and Trans People of Color] activists.” While touting the event, the group said that it wants to make it “as accessible as possible and therefore have free tickets available for those who would like to attend.”

However, it seems not everybody was welcome. The rules published on the conference’s official website state that if an attendee is white, they will have no right to ask questions, at least publicly. The rule, introduced to “amplify the voices of people of color” said that “priority will be given to questions from people of color in the audience.”

“If you are a white person in the audience and you still have a question after the panel has ended, please feel free to share your questions with a member of the committee or our speakers then”

While some argued that the attempt to muffle voices of a particular group, in this case white people, is tantamount to the racism that the “collective” so fervently opposes, another controversial rule sparked comparisons with segregation practices.

The “safe spaces” rule states that one of the two rooms “available to anyone who needs to remove themselves from the conference” due to anxiety issues or just to take a break is off-limits to white people.

“The Braid room is a safe space for only people of color, and the Cheviot room is available for anyone who needs it,” the rule states.

The controversial event was thrust into the national media spotlight earlier this week after outspoken media personality Katie Hopkins denounced the university’s decision to host the gathering on Twitter.

Her tweet has opened the floodgates to similar accusations against the university, with many arguing that by throwing its weight behind the event, the school is endorsing racism.

“You’re hosting ‘Resisting Whiteness,’ is that not similar to ‘resisting blackness?'” one commenter asked.

Another Twitter user suggested that the group has “a hidden agenda… [to] stoke race wars.”

Responding to the backlash, the university said that the organizers had agreed to revise the “safe spaces” policy to “ensure [the] event is compliant with our values.”

They did appear to have watered-down the wording of the mic-access rule that had originally stated: “We will not be giving the microphone to white people during the Q&As.” However, if there were changes to the “safe spaces” rule, they are not reflected on the event’s official webpage.

While many chided the organizers, others sided with the “collective,” arguing that “reverse racism” does not exist.

A bookshop that helped to arrange the event took a swipe at the critics, saying that they had “willfully misunderstood” the group’s intentions.

“Resisting whiteness is not about white individuals, it is about whiteness as a pervasive system of oppression – both social & political – a system that needs resisting & dismantling,” it wrote.

September 30, 2019 0

Democrat Official Faces Felony Vote Fraud Charges in Michigan for Tampering with Absentee Ballots in 2018

Voter fraud is not a conspiracy theory.

By Shane Trejo

In the key battleground state of Michigan, a Democrat city official is being charged with ballot tampering during the 2018 mid-term elections.

Southfield City Clerk Sherikia L. Hawkins faces six felony counts over “unauthorized and inaccurate” changes that she allegedly made to absentee ballots last year. Liberal state officials are attempting to categorize Hawkins’ behavior as a “rare” case of fraud.

“Voting is fundamental to the very essence of our democracy,” Michigan Attorney General Dana Nessel said during a press conference on Monday. “It is incumbent upon state governments to safeguard the electoral process and ensure that every voter’s right to cast a ballot is protected.”

Hawkins is being accused of illegally altering 193 absentee voter records. The evidence of her wrongdoing was allegedly spotted during the 14-day canvass following the election. Irregularities were initially discovered by the Oakland County Clerk’s Office, which prompted the investigation resulting in Hawkins being charged.

According to an affidavit filed by state police, Oakland County Elections Director Joseph Rozell noticed some inconsistencies with the ballots while certifying absentee precincts in Southfield. Rozell “contacted Hawkins when he noticed that ballot summary sheets were blank.”

After questioning Hawkins about the errors, he noted “that the ballot return dates for voters were added or removed from the report in order to force the reports to balance to the number of ballots tabulated for each precinct on Election Night.”

“It appears that Hawkins had switched her original reports with altered reports,” wrote Michigan State Police Detective Sgt. Larissa LaMay in the report.

Michigan Secretary of State Jocelyn Benson, who formerly served on the board of directors for the Southern Poverty Law Center (SPLC), maintains that “there were no voters that were disenfranchised” by Hawkins’ actions.

“All valid votes in the election were ultimately counted and the final official vote total was accurate,” Benson said.

Benson has announced that the state Bureau of Elections will work with the clerk’s office in Southfield to ensure that the upcoming elections this year on Nov. 5 will be officiated properly while Hawkins is placed on administrative leave.

“Our elections are the foundation of our democracy, and under my and Attorney General Nessel’s administration there will be no tolerance for any actions that undermine that foundation – anywhere, anytime, by any person or official,” Benson said.

Hawkins is considered a Democrat Party leader in high standing in the state of Michigan. She received the Dingell/Levin Award at the Michigan Democrat Party’s Legacy Dinner in Detroit just a few months ago.

Michigan Democrats are now scurrying to disavow a disgraced public official who was recently considered a rising star in their party fold.

“Absentee ballots will start to go out this week for the upcoming November municipal election and Secretary Benson has removed Clerk Hawkins from administering this election,” said state Sen. Jeremy Moss and Rep. Kyra Harris Bolden, two Democrats who represent Southfield in the Michigan state legislature, in a joint statement.

“We can assure our Southfield neighbors that their votes will be counted,” they added.

September 24, 2019 0

500 Scientists Write U.N.: ‘There Is No Climate Emergency’

THOMAS D. WILLIAMS, PH.D.

24 Sep 2019

More than 500 scientists and professionals in climate and related fields have sent a “European Climate Declaration” to the Secretary-General of the United Nations asking for a long-overdue, high-level, open debate on climate change.

Just as 16-year-old Swedish climate activist Greta Thunberg addressed the U.N. Climate Action Summit in New York accusing world leaders of robbing her of her future, scientists were begging the United Nations to keep hysteria from obscuring facts.

“Climate science should be less political, while climate policies should be more scientific,” the declaration states. “Scientists should openly address the uncertainties and exaggerations in their predictions of global warming, while politicians should dispassionately count the real benefits as well as the imagined costs of adaptation to global warming, and the real costs as well as the imagined benefits of mitigation.”

The scientists underscored the importance of not rushing into enormously expensive climate action before fully ascertaining the facts.

“There is no statistical evidence that global warming is intensifying hurricanes, floods, droughts and suchlike natural disasters, or making them more frequent,” they declared. “However, CO2-mitigation measures are as damaging as they are costly. For instance, wind turbines kill birds and bats, and palm-oil plantations destroy the biodiversity of the rainforests.”

The signatories of the declaration also insist that public policy must respect scientific and economic realities and not just reflect the most fashionable frenzy of the day.

“There is no climate emergency. Therefore, there is no cause for panic and alarm,” they note. “We strongly oppose the harmful and unrealistic net-zero CO2 policy proposed for 2050.”

“If better approaches emerge, and they certainly will, we have ample time to reflect and adapt. The aim of international policy should be to provide reliable and affordable energy at all times, and throughout the world,” they state.

In particular, the scientists criticize the general-circulation models of climate on which international policy is currently founded as “unfit for their purpose.”

“Therefore, it is cruel as well as imprudent to advocate the squandering of trillions on the basis of results from such immature models,” they propose. “Current climate policies pointlessly, grievously undermine the economic system, putting lives at risk in countries denied access to affordable, continuous electrical power.”

“We urge you to follow a climate policy based on sound science, realistic economics and genuine concern for those harmed by costly but unnecessary attempts at mitigation,” they declare.

September 24, 2019 0

20 Arrested, 18 Charged In Brutal Downtown Minneapolis Robberies

By Jeff Wagner

https://cbsloc.al/2UXQPlV

MINNEAPOLIS (WCCO) — Twenty people arrested, 18 of them now charged — all connected to brutal robberies in downtown Minneapolis.

The attacks were caught on surveillance video, taking place in August. Police say groups of people would target one person, assault them, and often to take their cellphone and wallet. The 18 suspects range in age from 15 to 27.

Walking alone is all part of Sneh Bhakta’s commute in downtown Minneapolis.

“It does make me feel singled out because all the time I am alone,” Bhakta said. “And like when I commute at 6 in the morning, I am by myself, at the train station I’m alone.”

His concerns grew upon seeing the disturbing robberies caught on tape, occurring near the places he walks. At about 4 a.m. on August 17, at the intersection of 5th Street and Hennepin Avenue, a man stands by himself while looking down at his phone. Slowly but surely, people approach him to talk. Eventually he is surrounded, beaten and left unconscious — all so the thieves could take his phone and wallet.

A few weeks earlier outside Target Field, another group targets a man who is alone in broad daylight. They attack him, and even ride a bike over his body — all to steal his belongings.

Police said during a three-week stretch in August, 48 robberies were reported in downtown with 23 happening in one week.

From January 1 to August 26 in 2018, police said there were 156 robberies downtown. During that same span in 2019 there were 240 — an increase of 53.8%.

Most of the robberies are taking place along between 3rd and 6th Street, as well as Hennepin and 2nd Avenue. The key time is from 10 p.m. to 3 a.m.

Police said the criminals in the recent cases “finesse” the victim. They search for easy targets, typically someone who is intoxicated, alone, and looking at their phone.

“Many of these juveniles that are affected by this are part of just coming out of incarceration and they don’t have any hope at home, there’s nothing there, and so they come downtown where there’s a little bit of everything and they’re waiting on somebody to prey on,” said V.J. Smith, founder of MAD DADS Minneapolis.

The organization is an outreach group that fills downtown every weekend. They will do everything from break up fights to feed people, but most importantly be the adult figure at-risk youth might be missing in their lives. Many of those arrested for the robberies are juveniles who MAD DADS workers have interacted with.

“These people in the community that are doing this, we have to have some consequences for this, but we also have to get to the heart of it. What’s wrong? What’s your problem? Is it education? Is it mental health? What is it and let’s treat it and let’s fix it,” he said.

After the recent arrests, police said robberies dropped to just three in one week earlier this month. Regardless, Bhakta plans to keep his guard up.

“It’s still challenging to feel, like, safe, because I’m always kind of vigilant about my surroundings, and if something doesn’t happen to me, it might happen to someone else and just being aware of that,” Bhakta said.

September 17, 2019 0