Detriot Files For Bankruptcy

Damn!

I knew Detroit was having financial troubles, but to file for bankruptcy?

. . . So now who or what is going to save that City and who drove it into the ground? The unions must bear a lot of the blame, but how do you resurrect an entire city?



http://www.washingtonpost.com/busine...c=al_comboNE_b

Where've ya been FG?

I've read several articles that most of the Detroit property owners aren't paying their property taxes. Entire neighborhoods. They said they aren't getting city services, so they aren't paying. No taxes, no services.

Real estate is supposed to be incredibly cheap. Supposedly some are paying less for a house than what the yearly property tax bill is. They sold the old NFL football stadium for like $500K.

This was not unforeseen. Many of the municipalities in MI have been going bankrupt over the past few years. Industries moved out and the cities didn't trim back.

Its called "running out of other people's money."

Guess they should have let the underwear bomber complete the mission.

. . . So now who or what is going to save that City? Originally Posted by Fast Gunn

isn't that obvious....

This isnt the first and it will not be the last.
$18 BILLION in debt.
I wonder if that includes unfunded and underfunded pensions.
Of Course, the promised pensions will be paid......by the rest of us suckers.You know, the extravagant pensions that are not even available in the private sector.

Welcome back Fast Gunn.....

Here is what the end game of utopian liberalism looks like:

Welcome back Fast Gunn.....

Here is what the end game of utopian liberalism looks like:

Originally Posted by Whirlaway

You're an idiot on so many levels is hard to decide which one to attack you on.

Decades of Democrat led decline.

FACT JACK!

Decades of Democrat led decline.

FACT JACK! Originally Posted by Whirlaway

Have you figured out yet that you ending your posts with "fact jack" does not, in fact, convince many of us that what is contained in your posts are facts?

You simple-minded tool.

Decades of libtard rule and thievery, fuck em, they got what they deserve. Bad thing we will end up bailing those fucksticks out.

Hey, I want the credit for the Robocop comment, three months ago.

I thought that Obama was going to save Detroit from bankruptcy because they accused Romney of forcing Detroit into bankruptcy? I wonder if I can find enough couch change to buy the Detroit Tigers? I always like to watch Magnum PI.

Have you figured out I don't give a fuck what you think?

FACT JACK!

btw, you are clueless what "many of us " think .

FACT JACK!

Have you figured out yet that you ending your posts with "fact jack" does not, in fact, convince many of us that what is contained in your posts are facts?

You simple-minded tool. Originally Posted by timpage

After winning election in 1973, Detroit’s first black mayor, Coleman Young, consolidated his power, driving white residents, who had voted against him, out of the city by withdrawing services from their neighborhoods. Eventually, Detroit became “an overwhelmingly black city mired in poverty and social problems”—and shrinking fast.

Known as "The Curley Effect "....

http://www.discoverthenetworks.org/v...ry.asp?id=1891

Glaeser and Shleifer summarize their "Curley Effect" thesis as follows:

"It is generally thought in economics [that] [g]ood policies bring in resources and voters; bad ones keep them out. With the Curley effect, this result is reversed. When politicians seeking to stay in power use distortionary policies to force out their political opponents, [it] renders bad policies more, rather than less, attractive. The Curley effect, and more generally the economics of shaping the electorate, might thus shed light on a broad range of government policies that appear too bad to be true from alternative perspectives. "

Obama 's playbook.

"""""

After winning election in 1973, Detroit’s first black mayor, Coleman Young, consolidated his power, driving white residents, who had voted against him, out of the city by withdrawing services from their neighborhoods. Eventually, Detroit became “an overwhelmingly black city mired in poverty and social problems”—and shrinking fast.

Known as "The Curley Effect "....

http://www.discoverthenetworks.org/v...ry.asp?id=1891

Glaeser and Shleifer summarize their "Curley Effect" thesis as follows:

"It is generally thought in economics [that] [g]ood policies bring in resources and voters; bad ones keep them out. With the Curley effect, this result is reversed. When politicians seeking to stay in power use distortionary policies to force out their political opponents, [it] renders bad policies more, rather than less, attractive. The Curley effect, and more generally the economics of shaping the electorate, might thus shed light on a broad range of government policies that appear too bad to be true from alternative perspectives. "

Obama 's playbook. Originally Posted by Whirlaway

That's a good article, Whirlaway. Here's the Harvard site with entire paper.

http://scholar.harvard.edu/files/gla...y_effect_1.pdf