“It’s a bold statement, isn’t it?” Those words of Chicago City Treasurer Melissa Conyears-Ervin hardly capture the moment. Yesterday, Conyears-Ervin declared that her office would no longer invest in U.S. Treasury bonds to protest what she called the “authoritarian regime” of President Donald Trump. It is more bonkers than bold. It makes about as much sense as President Trump saying that he will not eat deep-dish pizza to protest Chicago.
My hometown of Chicago is facing an economic meltdown due to towering debt and massive spending. Mayor Ben Johnson and the unions have pushed self-destructive tax schemes and borrowing plans that would only accelerate the flight from the city and the collapse of the city’s finances.
Now, the person in charge of investing that money is declaring that politics rather than economics will guide investments.
It is the ultimate virtue signaling at the cost of others. She is given a fiduciary duty to properly maintain and protect the investments of the city, which is currently facing a rising debt crisis. She is saying that the city will not invest in what Ald. Bill Conway (34th), a former investment banker, correctly described as “by far the most liquid and secure debt instrument in the history of the world.”
Chicago has held almost a quarter of a billion dollars in Treasury bonds in the last three years due to its healthy return for citizens. To forego such investments is Kamikaze economics, destroying your own portfolio and investors as a demonstration of true faith.
The position hurts only Chicagoans. However, the loss to the citizens could still provide gains to Conyears-Ervin, who is running to replace radical Chicago congressman, Danny Davis. Her announcement is meant to tap into the rage as she declared: “Chicagoans do not want us to bankroll the regime — the authoritarian regime — of Donald Trump where he has waged a war on our city. It’s a bold statement, isn’t it? And we need it to be.”
So, a city collapsing under debt will forego investing in one of the most secure debt instruments in the world.
Let’s recap. Mayor Johnson wants to float massive bonds to avoid cutting the budget while taxing large businesses for every new person that they employ. At the same time, the city will not invest in bonds that guarantee the most secure investment of money currently in city coffers.
This is coming in a week when many are questioning the logic of the government shutdown. After losing billions and putting many families and travelers into duress, the Democrats agreed to basically the identical clean CR that was offered over a month earlier. Yet, Conyears-Ervin makes that effort seem brilliant in comparison.
It is the same logic as burning money as a way to prevent its theft.
It is not clear where the money will go. Antifa does not currently offer an investment fund option that guarantees a total political return with no capital gains. On the other hand, over $200 billion is practically hard to stuff in the mattress of Conyears-Ervin.
This could work out in the end, resulting in practically no loss due to the new investment policies. As Johnson virtually chases businesses out of the city, there will be less money to invest. Problem solved.
The bankrupt People’s Republic of Chicongo won’t buy bonds from a bankrupt federal government for every reason except bankruptcy. That explains why we are bankrupt.
It makes about as much sense as President Trump saying that he will not eat deep-dish pizza to protest Chicago.
She’s willing to harm the entire city to virtue signal over to a policy difference with POTUS. Wouldn’t it be more like Trump issuing an EO saying nobody in all of DC is allowed to eat deep-dish pizza to protest Chicago?
What do you expect? The woman is a black politician. Name one black politician who is not corrupt.
At 10:31 Anonymous tells us about masked ICE teams are making arrests in Chicago.
She just sad that all her friends will soon be gone and she wont have anyone to hang out with.
She’s going to miss the fentanyl dealers, the rapist, her child trafficking friends, the professional shoplifters, the wife beaters, and all the pedophiles.
Lonely she’s just so lonely
Ain’t got no Fentanyl dealer to call on the phone.
Forgotten she’s just forgotten
Can’t pay for no kids that she can call her own
Loonly she’s just so loonly
If ICE sends her friends all back hoooome
We feel your pain Anonymous.
All your friends will be goooone
Or in a jail ceeeell.
Poor sad Anonymous.
WOW Seattle’s mayor goes full Stalin.
https://x.com/CitizenFreePres/status/1988975610707013851
More proof that the dem/libs have nothing but hate.
______________________________
NEW: John Fetterman *STUNS* CNN’s Dana Bash by telling her how Left crueler than Right🚨
FETTERMAN: “The Right would say really rough things and names … but on the Left, it was like they want me to die or that ‘We’re cheering for your next stroke’ … they even have a gif where they have a stroke in your head.”
BASH: “Oh my gosh!”
Yes Dana they are that bad!
Fake news.
No proof.
No link.
it’s on X you dummy
No, not fake news. Fake news is when it’s made up. You’re confusing lack of a link with the concept that it didn’t happen. It did happen, and here’s the link:
https://x.com/JasonJournoDC/status/1988670736924336374
Anonymous doesn’t understand the distinction between having a name and being a generic anonymous. Dustoff has credibility. Anonymous doesn’t.
I already posted it, https://jonathanturley.org/2025/11/13/chicagoans-do-not-want-us-to-bankroll-the-regime-treasurer-declares-city-will-now-longer-invest-in-u-s-treasury-bonds/comment-page-2/#comment-2574693
So, no, not fake news.
What about the republicans coverup of the Epstein files?
I already posted what happened. The dems blocked it Try looking on X and Tim Burchett
You’re right Anonymous. Just like they covered up the pee tape.
First it was the pee tape and now it’s the Epstein files.
You were sent here do your job and now you’ve done it.
Just like the old trick this new trick is like the old dog who won’t hunt.
You should check out the story about the boy who cried wolf.
It must hurt to know that the tiny tiny little you has no effect at all.
During the “Joe Biden” administration, was he also “covering it up”? Do you think he would have if there was anything to implicate DJT in any wrongdoing? Obviously not.
I tried to release the Epstein files today. Democrats blocked it. pic.twitter.com/oKo8y9RR3b
— Rep. Tim Burchett Press Office (@RepTimBurchett) November 12, 2025
I tried to release The Epstein Files immediately and the Democrats blocked it. pic.twitter.com/wFywWzxixU
— Tim Burchett (@timburchett) November 12, 2025
DEar Prof Turley,
Chicago should issue short-term war bonds. .. Trump’s war on Chicago is languishing on the battlefield and in the court of public opinion.
T-bills ain’t what they used to be.
The Shutdown didn’t work. They’re back!
*one man’s terrorist, is another man’s freedom fighter .. .
DG
You may want to re-think war bonds
War bonds are debt securities issued by a government to finance military operations and other wartime expenditures. They are essentially loans from citizens to the government, which are paid back with interest after a set period.
Never seen a city issue War bonds
How about Crypto currency.
“Bitcoin ETFs snapped a two-week streak of redemptions by the end of day Tuesday U.S. time, with early data showing a posting $299.8 million in net inflows as investors rotated back into crypto-linked products,” writes Coindesk.
“The shift marks a notable contrast to last week’s data from CoinShares, which recorded $1.17 billion in outflows from digital asset investment products.”
“Kraken’s global economist Thomas Perfumo said Bitcoin’s fundamentals remain intact despite near-term volatility.”
“In approximately seven days, Bitcoin’s circulating supply will cross 19.95 million coins, 95 % of its max supply of 21 million coins,” he wrote in a note given to CoinDesk. The milestone underscores Bitcoin’s programmable scarcity and its long-term role as a “credibly neutral, globally accessible store of value.”
You have to win the war for war bonds to pay off, dusty. .. T-bills are based on nothing more than ‘faith’ in the U.S. government to pay off.
Afaict, Chicago is winning that war.
What do you think about ‘Prez Trump’ honoring the top AQ Head Chopper in the White House? Have you ever chopped off a head?
*most of us here are not head-choppers .. . not sure about you and few others.
Chicago is winning the war. LOL
Thanks to Trump less people a dying..
That city has one of the worse crime rates thanks to dem-o-rats
T-Bills ain’t what they used to be. How far back do you want to go with democrats’ failed policies, all the way back to Jonson’s institution of the Welfare State to destroy black homes , Obama’s “too big to fail,” subsidies of banks, or how bout Pelosi’s COVID era thousand-page legislations.
BTW: terrorists are not the same as freedom-fighters—one kills for authoritarian religion, the other for liberty. You’re very confused, dg.
Curious if trump tried to get a knobber from Lauren and that gave her extra motivation to hold off the White House full court press to take her name off the petition???
Totally loved that she tweeted at them, taunting them for the effort!! Just goes to show R’s are starting to take the exit ramp from the orange hawg. Turls will hang in though. They own him.
OOPS
The dems just killed the Epstein files
I tried to release The Epstein Files immediately and the Democrats blocked it. (Tim Burchett on X) 11/13/25
Even more info (on X)
For all the dipshits in the comments claiming that Burchett’s lying, stop being such dipshits.
No, the Republicans did not block him.
Tim EXPLICITLY stated: “I made the motion and Democrats had VERBALLY told the parliamentarian. They did not agree with it.”
More fake news.
Just making stuff up .
No link, no proof
Ano
Do you know how to use X that use to be twitter.
Low IQ.
For the assist, DustOff!
I tried to release The Epstein Files immediately and the Democrats blocked it. pic.twitter.com/wFywWzxixU
— Tim Burchett (@timburchett) November 12, 2025
I tried to release the Epstein files today. Democrats blocked it. pic.twitter.com/oKo8y9RR3b
— Rep. Tim Burchett Press Office (@RepTimBurchett) November 12, 2025
TDS on steroids!
Don’t you have to have extra money to invest before you invest? Chicago is broke and running increasing deficits. What money is she talking about NOT spending? Pension fund inputs? Don’t the fund managers do that! Temporary excess taxes collected periodically, like when people pay their property taxes? That is a short term excess; a much shorter term than the term of any bond. I suspect this is merely political theater.
Maybe she can get one of the drug cartels to pick up the debt and bankroll the Windy City?
The Chicago city treasurer Melissa Conyears-Ervin can’t buy or sell anything without the Mayor & city counsel’s approval.
This is a red flag which should be addressed by a financial forensic audit to check for irregularities.
Checks include cutting corners. In a courtroom it’s called embezzlement.
Conyears-Ervin statement’s are a diversion tactic. What she’s really saying in an alter-ego voice is: This is a mess (worse a cluster-f_ _ k) and I want an Exit Ramp to extract myself from the endless dome that the City is already in over it’s head.
So she runs (away) to another Office Seat (Danny Davis’ Seat) to skip out of her part of the responsibility of the mess.
And Hey! why not fling a pile of sh_t-on the President (humiliate him) while doing it. It’s good for the Democratic Party.
(Antidotal) The diversion by attempting to humiliate the President (by sh_ting on him) will not garner the means to facilitate her future goals, but it may provide cover for her escape.
It seems to be a commonalty with Politicians, particularly with Democrats. Gavin Newsom has mastered the art. As the Economy tightens, the Exit(s) of Fiat Freeloaders will increase as the music stops.
The Margin Call has arrived, and the Democrats (like Conyears-Ervin) are going to skip-out rather than face-it like the Republicans. The very recent Government Shutdown is proof-of-point. Republicans held-on to facing-it and curtail to limits of spending and the Democrats wanted to dance-on with fiat deficit spending (for their Wonderland Programs).
So far the Dem’s game plan has been escape by fiat spending or escape by running away to greener fiat fields.
Margin Call: (for the City of Chicago)
… “we’re going to be left holding the biggest bag of odorous excrement ever assembled in the history of capitalism”.
https://www.americanrhetoric.com/MovieSpeeches/moviespeechmargincalthisisit.htm
The City of Chicago’s total liability debt is around $48.8 billion, with unfunded pension benefits being the largest component of this debt. As of a 2023 report, the total bills amount to nearly this figure, and the unfunded pension benefits alone are over $33.7 billion. The debt per taxpayer is approximately $40,600, placing it second among major U.S. cities.
Total bills: Chicago has a total of nearly $48.8 billion in total bills.
Unfunded pension benefits: The city’s unfunded pension benefits are over $33.7 billion, the largest amount in the nation.
Debt per taxpayer: A 2025 report from Truth in Accounting estimates the debt per taxpayer is $40,600.
Overall financial condition: While the city’s total debt is high, the overall financial situation is complex, with the total net debt outstanding increasing by 32.8% between FY2014 and FY2023.
The City of Chicago’s current liability debts include an unfunded pension liability of approximately
$37.2 billion as of 2023, plus other various debts and unpaid bills. Total unpaid bills reached nearly $48.8 billion in one report, with a large portion being the unfunded pension obligations. The city’s financial position has worsened, leading to a negative outlook on its general obligation debt rating.
Pension liabilities
Total pension debt: Approximately $37.2 billion as of fiscal year 2023. (Note: we are approaching 2026 in 6 weeks)
Breakdown: This debt is owed to the city’s four employee pension funds (Laborers, Municipal Employees, Police, and Firefighters).
Funded ratio: The aggregate funded ratio for these systems is low, at about 24 percent, indicating significant under-funding.
Other financial obligations
Unpaid bills: One report from early 2025 cites total unpaid bills of nearly $40.9 billion for 2023.
Taxpayer burden: This debt translates to a significant burden on each taxpayer, with one estimate placing it at $40,600 per person.
Credit rating and outlook
S&P Global Ratings: In November 2025, S&P revised its outlook on the city’s general obligation (GO) debt rating from “stable” to “negative”.
Kroll Bond Rating Agency: In November 2023, Kroll had changed its outlook to “positive” based on factors like improved revenues and some debt reduction, but this is contradicted by newer data showing continued fiscal challenges, according to Civic Federation.
Key takeaways:
Chicago’s most significant current liability is its large and growing unfunded pension debt.
The city faces a substantial overall debt burden that is a major concern for its financial health.
Recent financial reports indicate that the city’s expenses are outpacing its revenue growth, further worsening its fiscal situation.
—
So what will happen as the Day-of-Reckoning plays out for Chicago?
The Fire Sale of Chicago’s Debt Obligations (underwriting securities)
-The Great Chicago Fire-Sale of 202?- (on some Friday from now)
City debt: New York has more than four times the liabilities of Chicago, Los Angeles, Houston and other cities
New York City, the District of Columbia, Chicago, Atlanta, Yonkers and Austin have the most per capita liabilities.
By: Reason Foundation:
Geoffrey Lawrence – Research Director
Jordan Campbell – Managing Director
Mariana Trujillo – Managing Director
~ December 19, 2024
https://reason.org/transparency-project/debt-trends-state-local/municipal/
–
As we look into the Day-the-Dominos-Fall, Whom will be first to make the call?
Chicago or New York City? Whom will take the Hit? and Whom will walk away $$$
Caveat Emptor!
Trump to host JPMorgan’s Dimon, other Wall Street CEOs at White House dinner
By: Jarrett Renshaw ~ November 12, 2025
https://www.reuters.com/business/finance/trump-expected-dine-with-wall-street-ceos-white-house-wednesday-2025-11-12/
1929. 2008. 2025? The Yield Curve Says It’s Coming Again
For nearly a century, one signal has predicted every major economic collapse — the yield curve inversion.
It warned us in 1929, screamed before 2008, and now in 2025, it’s flashing the same terrifying signal again.
In this video, we’ll explore what the yield curve truly measures, why it has predicted every recession, and what it’s telling us about the next global downturn.
A few selected developments as reported by the Bee:
– Congress pivots from doing nothing because of the shutdown to doing nothing because they’re Congress
– Democrats somberly remove sombreros, signaling end of shutdown
– Democrats agreed to end shutdown in exchange for 15% off coupon to Cracker Barrel
– Nancy Pelosi prepares for sad future of outsider trading
– Olympics changes trans policy after watching old ‘Mister Rogers’ episode
– Federal judge overturns Solomon’s verdict; baby to be cut in two
– Methuselah considers 750 year mortgage
– Mamdani dethrones Gavin Newsom as U-Haul’s top salesman
– Human traffickers begin smuggling New Yorkers into Texas
– Mamdani assures New Yorkers there’s no problem too large for government to make worse
– Jasmine Crockett’s SNAP card declined at the Gucci Store
– AOC appears on ‘The Price is Right,’ guesses everything is free
– Liberals trying to remember what they were mad about last week
Nancy Pelosi prepares for sad future of outsider trading.
Oldman………………….. Now that’s funny and true at the same time
Turls, having ICE terrify it’s populace with masked abduction teams is much worse for Chicago….
And just because you don’t see the wisdom in forgoing on Bonds says nothing about that policy’s effectiveness. In fact, you’re only popping off about it because it hurts the trump administration. You’ve been assigned that push piece task like it’s just another Hunter character assassination campaign.
You’re a loser and you need therapy.
Hot damn! Comedy central free! Right here on Turley’s blog Site. Basement warrior loess than scum telling Turley he needs therapy and is a loser! Hunter’s character assassination?🤣🤣😂😂
U R A 🤡
Thanks for repeating what we all know!!
If you are going to talk such trash have the balls to put your name on the comment. “ Losers” hide behind “Anonymous.”
My balls are busy in your mouth right now.
The child speaks
Ano
Turls…
Me thinks he doesn’t give a flying flip about you’re opinion.
Thanks for reading. And caring.
“Turls” — Is that you, again, Gigi?
1) First of all, the “populace” is not terrified, some are, but most have traded their emotional-support pets for screaming hissy-fits in the streets.
2) The “masked abductors” are following the example of those in the streets throwing projectiles, protecting themselves, while doing their jobs.
3) Bonds issued by an insolvent governing body are no threat or competition to any other governing body.
4) Hunter character-assassinated himself, with the wildest, nastiest, most-vile selfies you could ever imagine. GO look!
5) Yes, losers need therapy. Have you made you appointment yet?
Ms. Conyears-Ervin needs to see your doctor because she’s got a very serious case of TDS…✅️✅️✅️
Apologies to lyricist Fred Fisher…
Chicago, Chicago that murderous town,
Chicago, Chicago they’ll sure mow you down. Just watch it.
Betcha bottom dollar you’ll lose your shoes in Chicago,
Chicago, the town that Rahm boy never did shut down.
On State Street, no great street, I just wanna say, they shoot
things so don’t get in their way. It’s fulla crime, so run for your
life…I saw a man who strangled his wife in Chicago, Chicago
JBs own home town.
Chicago
By Carl Sandburg
Hog Butcher for the World,
Tool Maker, Stacker of Wheat,
Player with Railroads and the Nation’s Freight Handler;
Stormy, husky, brawling,
City of the Big Shoulders:
Chicago
With Apologies to Carl Sandberg
Budget Buster for the State,
Tool Wrecker, Stacker of Excuses and Scapegoats,
Screechy, spineless, bawling,
City of the Stooped Shoulders.