Chicago’s Collapse Has Begun

Articles: Chicago’s Collapse Has Begun:
"The city of Detroit, now famous as an economic disaster, began its decline when it lost jobs. 
This was accompanied by a loss of population, a rapid rise in poverty, increasing dependence upon federal entitlement programs and an unstoppable downward economic spiral.
Puerto Rico is now undergoing an economic collapse sparked not by population loss but by excessive government spending.
Chicago is in the same situation.
Government overspending and overtaxation comes first, population loss follows.
Chicago is technically bankrupt.
Its expenditures have exceeded its receipts for about ten years.
All big rust belt cities in the Midwest, East, and Northeast have been losing population since 1950. Detroit’s population has dropped from 1.85 million to 800,000.
Chicago was only able to delay its loss of population by becoming the first official sanctuary city in 1985. 
...Chicago is still showing clear, irrefutable evidence of population and economic decline.
...A study by New World Wealthy published in March 2016 found that Chicago had lost more millionaires, 3,000, than any other city in the U.S. The only cities that lost more were European. Rome lost 5,000 and Paris 7,000.
...Illinois lost 105,200 persons to outmigration last year, and has the lowest credit rating of all 50 states, some of the largest debt, and the highest unemployment rate of all 48 states.
...In 2014 SEC Commissioner Daniel Gallagher noted that the average household in Chicago owes the city and state $88,000 for their pension and bond debt, and much of the bond debt was created to paper over the huge demand for money imposed upon residents by public pensioners.
The city’s pensions are only 50% funded and there is no remedy in sight..."
Read on.
It gets worse!