Do you like living in Illinois? (Chicago: sales, apartment complexes, sales tax)

[Liledgy]

Originally Posted by MSchemist80

I'd rather move someplace with a warmer climate but yea if my job was in commuting distance to Indiana I'd move there. However, a lot of people will have trouble selling their home. The value of my home has gone up at most 2% in two years and my tax assessment and taxes have gone up 20%. People are going to have a hard tome finding suckers to take their home from them as it is becoming like having a timeshare. Someone is going to have to start an Illinois Exit Team business.

And in spite of all your gloom and doom your u bought a house?

[MSchemist80]

I am betting people will eventually turn on these racketeer dems and things will need to get fixed or the feds will force the needed reforms as a part of a bankruptcy like restructuring. At some point the people always turn against leftists when the misery they cause becomes great enough. It is clear that in the coming decade or two, the reemergence of marxism and corrupt/radical leftism is going to be the biggest threat and be a nationwide struggle.

[jasperhobbs]

Originally Posted by MSchemist80

I'd rather move someplace with a warmer climate but yea if my job was in commuting distance to Indiana I'd move there. However, a lot of people will have trouble selling their home. The value of my home has gone up at most 2% in two years and my tax assessment and taxes have gone up 20%. People are going to have a hard time finding suckers to take their home from them as it is becoming like having a timeshare. Someone is going to have to start an Illinois Exit Team business.

Originally Posted by Liledgy

And in spite of all your gloom and doom your u bought a house?

Yeah, you would think someone of vision like MS would not have even considered buying a house. The kicker is, if their predicted future happens, MS will be the one looking for a sucker to buy his/her home.

[smegmatite]

Originally Posted by MSchemist80

I am betting people will eventually turn on these racketeer dems and things will need to get fixed or the feds will force the needed reforms as a part of a bankruptcy like restructuring. At some point the people always turn against leftists when the misery they cause becomes great enough. It is clear that in the coming decade or two, the reemergence of marxism and corrupt/radical leftism is going to be the biggest threat and be a nationwide struggle.

that is literally the worst bet ever, you're better off flushing your money down the toilet or lighting it on fire

[MSchemist80]

Originally Posted by smegmatite

that is literally the worst bet ever, you're better off flushing your money down the toilet or lighting it on fire

Given the polls in post #47 showing 60% of residents of Illinois hate their govt enough to want to leave the state I'd say we are rife for a political beat down on the Dem party. Even if there isn't, at some point the govt is just flat out going to not be able to make their pension payments, and the Illinois Supreme Court can rule whatever they like but you can't get blood from a stone. At that point something is going to have to happen. As I stated before, my bet is the Federal govt steps in and forces a major govt restructuring in a bankruptcy like process similar to what Obama did with GM and Chrysler in 2009. Things just cannot keep going on this way indefinitely and when the next recession hit, it is likely to all come to a head.

In any case not much choice for me. I need my job, and therefore need a place to live in proximity to it.

[smegmatite]

Originally Posted by MSchemist80

Given the polls in post #47 showing 60% of residents of Illinois hate their govt enough to want to leave the state I'd say we are rife for a political beat down on the Dem party. Even if there isn't, at some point the govt is just flat out going to not be able to make their pension payments, and the Illinois Supreme Court can rule whatever they like but you can't get blood from a stone. At that point something is going to have to happen. As I stated before, my bet is the Federal govt steps in and forces a major govt restructuring in a bankruptcy like process similar to what Obama did with GM and Chrysler in 2009. Things just cannot keep going on this way indefinitely and when the next recession hit, it is likely to all come to a head.

In any case not much choice for me. I need my job, and therefore need a place to live in proximity to it.

why would the feds EVER vote to bail out another state? it would be political suicide for any rep/senator that votes to bail out another fiscally irresponsible state.

Never. Ever! Going to happen.

And you clearly underestimate the Illinois democratic machine, big time

[MSchemist80]

Originally Posted by smegmatite

why would the feds EVER vote to bail out another state?

They wouldn't bail out the state, They would step in and manage the bankruptcy ie renegotiate the pensions and unions contract and rules, force restructuring of the govt etc. I'm not sure what else happens when a state goes into hopeless default. The only precedence we have for failed states is back when the states seceded during the civil war and lost the federal govt directed them to write new constitutions and start from scratch with new elections. Although reconstruction wasn't very successful other than the fact that the states did not try to secede again.

We can also see what ends up happening with Puerto Rico which is in a similar situation and is happening currently. It looks exactly like what I said is going to happen, the federal govt is going to direct a bankruptcy and restructuring like solution.

[damba]

Originally Posted by MSchemist80

They wouldn't bail out the state, They would step in and manage the bankruptcy ie renegotiate the pensions and unions contract and rules, force restructuring of the govt etc. I'm not sure what else happens when a state goes into hopeless default. The only precedence we have for failed states is back when the states seceded during the civil war and lost the federal govt directed them to write new constitutions and start from scratch with new elections. Although reconstruction wasn't very successful other than the fact that the states did not try to secede again.

We can also see what ends up happening with Puerto Rico which is in a similar situation and is happening currently. It looks exactly like what I said is going to happen, the federal govt is going to direct a bankruptcy and restructuring like solution.

Oh gosh. This is mostly nonsense. To equate the economy of PR with Chicago is silly at best.

[MSchemist80]

Originally Posted by damba

Oh gosh. This is mostly nonsense. To equate the economy of PR with Chicago is silly at best.

Then how do you think the state is going to come up with $250E9, plus fund vital services, plus maintain the bloated, overly redundant, and inefficient governing bodies when people are already taxed out of their homes and leaving, and we have among the worst business climate's in the nation?

[Liledgy]

Hold your posting until my popcorn is ready, lol. MS, your killing me!