Mish reports just how bad of shape the Chicago pension system really is. Suffice it to say that it could rightfully be renamed Puerto Rico Chico. Or maybe ChiTown should be renamed DieTown. It's that bad. The debt (obligation is just another word for debt...) is unpayable and so it will simply not be paid. Fire and police workers will then go on strike to teach a lesson to the "greedy" citizens who will not double down on taxes in order to fill the pension kitty a lesson. Never once will the den of liberalism which is public "service" (I mean blatant parasitism...) take any responsibility for simply having done business with a bunch of con men.
Worse yet, police will be causing crime, perhaps even more murders than they already do today, and firefighters will be setting buildings ablaze if the carnage does not occur fast enough once they go on strike. I say that any public worker who, in the course of their job or at any other time performs an act of vandalism designed to teach everyone a lesson about not stiffing them on their pension is guilty of terrorism and should be treated as a terrorist. In fact, what is a terrorist but someone who causes mayhem and and property damage in the name of achieving political goals?
We ain't seen bad yet, but it's coming.
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