05/14/2018 - Illinois Pension Crisis Causing Falling Property Values And Population
“Illinois .. is following the EXACT pattern as the fall of the city of Rome itself .. More and more people just walked away from their property for there was NO BID .. Illinois is the NUMBER ONE state that now has a NET loss of citizens and people are fleeing that state .. There is absolutely no hope whatsoever of fixing this problem of a pension crisis in Illinois and every solution, like the current one from the Chicago Federal Reserve and its proposed 1% on property annually for the next 30 years, will fail in the end. The state has COLAs which insanely increase state employees’ yearly pensions by an automatic 3% annually, regardless of the inflation rate. Because Illinois does not have its own currency, it is then bound by the national value and international value of the dollar. Like Greece, as the dollar rises, Illinois is thrown into deflation. Its institutions are broken, and they will be remembered only by history .. when you plot the actual population of Rome, what emerges is a very interesting and a stark reality that applies to Illinois .. people could no longer afford to live there and they were forced to just walk away from their homes. The value of real estate went to ZERO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Beware!!!!!!!!!!!!!!!!!!!! History repeats!!!!!!!!!!!!!!!!!!” – Martin Armstrong
