1)We often talk about the reality that a major city of a state government will soon go bankrupt, given the financial death spiral they are already in or are about to enter. The politicians running these cities and states have raised taxes so much that residents and businesses flee to more tax-friendly areas. This reduces the city or state government tax base and tax revenues which causes politicians to raise taxes which drives more and businesses out of state which further reduces the tax base and the death spiral is underway.
Primary city candidates to get to bankruptcy first include New York City, Chicago, Los Angeles, and San Francisco. We recently discussed the stupidly insane policies that a New York City mayor candidate has planned for that city if elected. However, recent news out of Chicago indicate that Chicago may go bankrupt before New York City:
- According to Chicago mayor, Brandon Johnson, Chicago faces a whopping $1.1 BILLION budget deficit in 2026.
- $734 million of that deficit is from the Chicago public school system.
- He said that the city had reached a “point of no return.”
- He claims the city cannot fix its fiscal situation without new revenue streams and is asking for the state and Federal governments to help out, i.e. the city is in such bad shape that it cannot fix itself.
- He warned that budget cuts will have to be made to education, transportation, and housing.
- Johnson has proposed implementing new taxes on business which in a death spiral situation is a death wish.
2)It was pretty obvious to the vast majority of objectively thinking folks that Joe Biden was in such cognitive decline throughout his entire time in office that there was no way he knew of or approved the over 1,500 Presidential pardons he supposedly okayed but which got signed by an autopen process. The vast majority of these persons were signed in the waning days and hours of his Presidency so it is a sure bet he did not approve them as required by the Constitution.
Who approved and signed these 1,500 pardons is a disgrace, likely a criminal offense and needs to be investigated as potentially one of the greatest Presidential scandals of all time. To appreciate how haphazard and despicable this behavior was, consider the following real life example:
- Malcolm Jackson was recently arrested in Louisiana.
- He has been charged with possessing cocaine, crack cocaine, hydrocodone and Xanax with intent to distribute the illegal drugs.
- He is also charged with operating an illegal drug lab, possessing drug paraphernalia, and actually selling the illegal drugs.
- He had been serving an eight year prison sentence when Biden supposedly and personally approved a Presidential pardon for him.
- Jackson was able to accomplish this within a short seven-month timeframe or so of being freed from prison by Biden.
- He was in prison for previous drug trafficking convictions.
3)Zohran Mamdani is running for mayor of New York City. He is basically a Communist in his views of how the government should run and control many, many aspects of people’s livres. His ignorance of life’s realities and basic economic concepts is frightening and inane.
One of his more stupid ideas is for the city government to operate grocery stores with the idiotic idea that the government can run a food store better than the experts in the industry. His plan is to undercut the prices of other food sellers in the city under the guise of making food more affordable However, in reality, his undercutting of private food sellers will drive those food sellers out of business or out of the city, making food scarcer and eventually more expensive to find.
Even worse, he apparently has not even considered that another large American city already tried to get into the grocery store business and it was not pretty:
- Kansas City politicians thought they could operate an efficient, cost effective grocery business and actually tried to.
- They went and spent $15 million of taxpayer wealth on an effort they had absolutely no competency in.
- Their effort resulted in a grocery store that basically had little fresh produce, no meat, and very few other things to purchase, mixing in the experience with a rancid odor of spoiled food.
- According to one recent shopper: "There’s no meat. There’s no vegetables. There’s no nothing. Are you going to take care of the community that’s surrounded around you? If not, sell the store to someone that can be more responsible."
- This single government grocery store was opened in 2018 as part of a grand “revitalization project” but seven years later the politicians in the city still have not gotten it right.
- The operation has lost $15 million so far and the number of weekly shoppers has dropped from 14,000 to about 4,000.
- Since it is in a high crime area, shoppers are afraid to go there where they find very little to buy so why bother and risk a trip.
- But a nearby privately owned grocery store is doing quite well.
While Chicago may now have the lead in getting to bankruptcy court first, do not underestimate the ability of Mamdani, if elected, to implement his crazy economic policies and regain the lead.
Enough insanity for today: proof that the government should not operate a grocery store operation, a Joe Biden autopen pardon goes back to drug dealing, and Chicago continues to go bankrupt.
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