Hadn't read the phrase before, but it certainly well captures the doubling and tripling down on bad policies has solely on ideology. Based on the history of Detroit and Kwame Kilpatrick or DC with Marion Barry, this surely does not bode well for the City of Chicago.
Chicago’s Mayor will 100% for sure raise taxes and where will those taxes come from ?? The remaining wealthy and middle class will be forced to pay.
The CME is located in Chicago and has been for decades, it was unthinkable for them to move out taking their jobs and wealth with them.
I predict the CME will move out of Chicago, it may remain in name only but the jobs and wealth will be gone.
The head of the CME has already stated they will leave if the current Mayor institutes a transaction on CME trades, the Mayor will eventually do exactly that because that’s where the money is.
Here’s an article about Chicago and the CME.
https://www.foxbusiness.com/politics/ceo-chicago-city-bad-business-policies