Keiser Report: Hot show in the ‘great state of Chicago’

[marmar]

Published on Aug 15, 2015
In this special episode of the Keiser Report from Chicago, Max Keiser and Stacy Herbert discuss the ‘great manufacturing meltdown’ in the ‘great state of Chicago.’ In the second half, Max is joined by Mike ‘Mish’ Shedlock of globaleconomicanalysis.blogspot.com to discuss Chicago’s junk debt situation. They also explore the economics of renting designer handbags...!

[MrMickeysMom]

1. A 25% funded police 30% funded fire pension is no way to run a city, Rahm...

First, Detroit's meltdown…. Chicago's next…

Since we're living history here, folks, any thoughts on who's next?

[Enthusiast]

2. Without a massive investment in my time, as in researching all this stuff, I would like

to know how all this happened to Detroit and Chicago. WTF?

Is this because some dunce (free traders) decided we would manufacture everything overseas for a temporary boost in profits?

Did/do they actually believe an economy based on paper shuffling, as opposed to actually manufacturing useful things, was sustainable?

I would like to know who is responsible. Then I would like to punish them by sending them to the worst private, for profit prison in the country. Where they can eat green bologna, moldy bread sandwiches.

[MrMickeysMom]

3. Oh, Enthusiast, Enthusiast, Enthusiast….

So many good questions… such little space to get into it…

Loss of auto manufacturing base = Detroit (exacerbated hugely by trade policies)

Loss of electronic manufacturing base = Chicago

Yes…. Yes… And, They don't care is the short answer because they are globalists who live outside of reality until it's too late and it's one of their beloved...

[Enthusiast]

4. I think having pensions is a perfectly reasonable expectation.

The employee contributes a certain amount from the paycheck and the employer contributes an agreed on amount. When you retire the money is there in a safe account and is never jeopardized through risky investments.

What happened? And why aren't these thieving fat cats that are responsible crying real tears as the don their orange jumpsuits?

I don't like Idiocracy. I thought it was a movie.

[MrMickeysMom]

5. I'd never seen this...

Maybe it's replacing the national anthem?

[Enthusiast]

6. It's becoming more fitting than the national anthem.