Courtesy of Mish.
I was back on CNBC with Rick Santelli on Tuesday May 19. The topic once again was municipal bonds with a spotlight on Chicago. Here are a pair of videos.
Live Santelli Exchange
CNBC’s Rick Santelli discusses Chicago’s credit downgrade and municipal bond crisis, with Mike Shedlock, Sitka Pacific Capital Management.
Link if video does not play: Santelli Exchange: Illinois’ unfunded pension liabilities
What’s next for Chicago’s debt crisis?
In an extended segment, CNBC’s Rick Santelli discusses Chicago’s municipal bond crisis with Mike Shedlock, Sitka Pacific Capital Management.
Link if video does not play: What’s next for Chicago’s debt crisis
The slides in the videos are courtesy of the Illinois Policy Institute. Santelli drew an amusing schematic of the 2011 tax hike showing where the money went. Here is the original chart.
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