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(native Chicagoan, not living there now) Selling something with long-term value for a short-term lump sum is the kind of thing a politician would do. He or she
by AlbertCory 4y ago
(native Chicagoan, not living there now)
Selling something with long-term value for a short-term lump sum is the kind of thing a politician would do. He or she isn't going to be around later, so why not get reelected now?
On the other side, Richie Daley didn't have the acumen of David Bowie, who did the same thing:
https://www.investopedia.com/terms/b/bowie-bond.asp https://www.investopedia.com/terms/b/bowie-bond.asp
https://www.billboard.com/music/music-news/david-bowies-bowie-bonds-55-million-wall-street-prudential-6843009/# https://www.billboard.com/music/music-news/david-bowies-bowi...!
Just think: who knew that parking meters would continue to throw off money? what happens when self-driving cars are cruising around and no one needs to park anymore?
- sacrosancty 4y agoIn the 80's, some western governments did that. People were unhappy but those economies did great. Eg. UK (Thatcher), and New Zealand (Rob Muldoon). Some of these businesses were just weird to be government owned - like a print shop. Some businesses are best owned by government and some privately. It's not just a blanket good thing that governments should ratchet their way towards communism. Natural monopolies and public goods can be better owned by government because the private sector needs competition to be efficient.
- ryathal 4y agoThis situation is also exactly what the rather famous Ben Franklin Quote was about.
- AlbertCory 4y agoI thought maybe "the rather famous Ben Franklin Quote" was in one of those references. But no. So what is it? He has lots of quotes.