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Chicago finances are even worse than I thought which is saying quite a bit because I have written about the sorry state of Chicago finances on numerous occasion. Many of these uses of bond proceeds are not eligible for tax-exempt financing under the federal tax code." Not just financed, but financed with long-term debt.
In 2020, the Fed has galloped over the precipice, increasing its balancesheet by around $2.8 Central banks pursue “inflation at any cost” in order to oil the wheels of the credit markets. This inadvertently fuels asset bubbles and financial instability. trillion over the last 5 months.
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