Downgraded Chicago: The City Is Officially Junk

Moody’s has officially downgraded Chicago bonds to the status of junk bonds. Regular readers might remember that back at the end of February I wrote about how Moody’s downgraded Chicago’s bonds to two steps above junk. Nothing has really changed since then except that Chicago’s insane, corrupt finances are appearing more and more for what they are: beyond hope of recovery. I was amazed when I wrote that earlier post that an establishment source like Reuters would acknowledge Chicago’s Read more […]

Chicago Finances Are at the Brink

Because of a Moody’s downgrade, Chicago finances may be about to get dramatically worse. Our ruling class act like they know what they are doing. They may even be deluded enough to believe their own deceptions. But the truth is that the “stability” they claim to bring society can collapse at any moment. Yes they may manage to keep things going for awhile, but the end will happen quickly when it comes. All of this may soon get demonstrated in the case of Chicago. [See also, “Is Read more […]

Goldman Sachs Downgraded Because Bailout Less Likely

When I hear that a ratings agency has downgraded a company or companies I usually expect to hear about how they have financial problems. As far as I can tell, these companies are being downgraded even though nothing has changed. Moody’s has cut the credit ratings of big US banks including Morgan Stanley, Goldman Sachs and JPMorgan Chase, after deciding that the federal government is less likely to bail the financial institutions out if they get into future difficulties. Goldman, Morgan Stanley Read more […]