Kirk's Market Thoughts Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Kirk's Market Thoughts

COHR 159.72

+18.6%

1:47 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: the longhorn who wrote (9873)	5/28/2020 10:48:54 AM
From: robert b furman	5 Recommendations Recommended By Brian Sullivan Kirk © Robert O the longhorn Winfastorlose Read Replies (3) of 26429

Good Morning Kirk and LH, The underfunding of pensions is a huge reason for interest rates to be higher than the now totally controlled and suppressed rates the Fed imposes. I thought the rate increases made by Chairman Powell in 2018 and 2019 offered some hope. Dashed badly for now! The Federal Reserves Bank of the 12th district authored a review of the greatly underfunded pension plans that have ACCUMULATED WITHIN CHICAGO. COOK COUNTY in general, but other surrounding counties in the Chicago metroplex. It would take a 10% tax increase on the real estate values on all properties located in Cook County for FIFTEEN years. Of course this would create a huge negative blow on the value all properties within the Chicago area. My brother in law is a very successful attorney in Chicago. He is nearing retirement and his idea of creating a retirement income is to invest in downtown condo's. We get a long very well and are great longtime friends. I tell him that would be very dangerous and he looks at me like I'm a dumb country hick and thinks that'll never happen, "Chicago's never had more building going on in the downtown area". I just shake my head and shut up. When that boom gets lowered it will create huge shock! Either that or the pensions will enter the pension benefit guarantee trust and they'll give all pensioners a huge haircut. A haircut that will match the degree to which the underfunding has accumulated. In Chicago, that will be huge. This phenom will cause a huge exodus out of those blue states/cities that have had corrupt Democrats give in to union pay raises that could not be afforded. In return, the unions support the bought and paid for politicians with campaign contributions and dictates to the brothers and sisters for solidarity in voting for the corrupted officials. Chicago is famous for this corruption and is so expensive that many conventions refuse to go to Chicago's McCormick Place Convention Center. Living in Wisconsin (to the north of Chicago) , in a State that has fully funded pensions, I can tell you that we'll not be wanting to assist in their shortfalls. This tells the story, it is a bit dated, but I'm sure it has only become worse since: taxfoundation.org Bob

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next