Indiana needs to face the reality Chicago and the rest of the state of Illinois are now the neighbors who never mow their lawn or takes care of their house. Continue reading →
Tag / Chicago
Chicago teachers about to go on strike….AGAIN
The political relevance of Chicago is that of an insane asylum. Continue reading →
Why the first 3 rounds of the NFL draft are critical for teams
On April 28, 2016, the NFL will hold its annual draft. NFL teams spend millions of dollars on scouting departments
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What A Gasoline Receipt Should Look Like
An unethical practice happens every time you go purchase gasoline for your vehicle:
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Chicago: Hey, Lets Tax Netflix
Courtesy http://www.frugal-cafe.com
The financial stress of the City of Chicago financial obligations is growing. This week Continue reading →
City of Chicago Downgraded by Moody’s
Moody’s Investors Service has downgraded Chicago’s debt rating, citing its overwhelming pension burden. Moody’s dropped the city’s rating to Baa2.
A rating of Baa2 is eight notches below the highest debt rating of Aaa.
Moody’s said in its statement its outlook for the city remains negative. A drop of two more notches would make mean the city’s bonds would become“junk” bonds.
“We strongly disagree with Moody’s decision to reduce the city’s credit rating and would note that Moody’s has been consistently and substantially out of step with the other rating agencies, ignoring the progress that has been achieved,” a spokeswoman for Mayor Rahm Emanuel, Kelley Quinn, said in a statement.
Chicago has more than $8 billion in taxpayer-backed general obligation debt, as well as roughly $800 million in additional bonds backed by sales tax and motor fuel tax revenues.
U-Haul Truck Rental Prices Shows Basic Economics
Economist Mark J. Perry frequently gives updates on U-Haul “One Way” truck rental prices as a form of an economic indicator of where people are moving too. U-Haul truck rental prices show how prices are affected by demand. Here is an example that he posted in May of this year:
Check out the Amazing Price Differentials for One-Way U-Haul 26-Foot Truck Rentals:
Chicago to Houston: $2,588
Houston to Chicago: $473
Ratio: 5.5 to 1Chicago to Dallas: $2,460
Dallas to Chicago: $636
Ratio: 3.9 to 1
Obvisously there is greater demand in people wanting to move out of Chicago then moving to it along with the fact that trucks leaving Chicago is massive. He also addresses “perfect price parity” for doubters of this economic data.
Here’s an example of almost perfect price parity, suggesting almost a perfect balance in one-way U-Haul 26-foot truck rentals in each direction.
Los Angeles to Chicago: $3,878
Chicago to Los Angeles: $3,869
Mark Perry can be followed at his website and Twitter page.
Hoosier Econ 