Detroit declares bantruptcy. (Full Version)

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Politesub53 -> Detroit declares bantruptcy. (7/18/2013 4:38:24 PM)

My question is who picks up the pieces, or will Detroit just be left to rot.

http://www.bbc.co.uk/news/world-us-canada-23369573




tj444 -> RE: Detroit declares bantruptcy. (7/18/2013 4:48:59 PM)

I dont know if they have any good business incentives there to encourage businesses to move there or start there.. if they didnt have any then thats why.. who wants to move to Detroit? it would not be the first city on my list.. and if there isnt a seriously good reason (like a 10 year tax holiday) then why set up shop there instead of some other inexpensive city or town anywhere else in the US that needs jobs?
"70,000 properties lie abandoned".. thats a lotta lost taxes right there too..




Moonhead -> RE: Detroit declares bantruptcy. (7/18/2013 5:23:13 PM)

Again?




DomKen -> RE: Detroit declares bantruptcy. (7/18/2013 6:29:39 PM)

The sad thing is a lot of other Midwestern cities have managed to rebound from the collapse of the manufacturing sector and rebounded both as places for businesses and as quality residential areas. Somehow Detroit has utterly failed at this.




FatDomDaddy -> RE: Detroit declares bantruptcy. (7/18/2013 8:44:31 PM)

Well... Let's say it won't be Government...

http://www.youtube.com/watch?v=1hhJ_49leBw




Esinn -> RE: Detroit declares bantruptcy. (7/18/2013 9:13:50 PM)

This is exciting.......




erieangel -> RE: Detroit declares bantruptcy. (7/18/2013 10:05:19 PM)

Well, I thought that "financial management" business (aka, in my mind anyway as mini dictatorship) was supposed to save the city.




DesideriScuri -> RE: Detroit declares bantruptcy. (7/19/2013 7:14:05 AM)

quote:

ORIGINAL: erieangel
Well, I thought that "financial management" business (aka, in my mind anyway as mini dictatorship) was supposed to save the city.


Apparently, he is trying to save the city.

http://www.usatoday.com/story/news/nation/2013/07/18/detroit-prepares-bankruptcy-filing-friday/2552819/
    quote:

    Detroit Emergency Manager Kevyn Orr, who in June released a plan to restructure the city's debt and obligations that would leave many creditors with much less than they are owed, has warned consistently that if negotiations hit an impasse, he would move quickly to seek bankruptcy protection.


No wonder Detroit is having such a tough time:[same article]
    quote:

    The city has lost more than half of its population over the last 60 years. In 1950, the city was the fifth-largest city in the country with a population of around 1.8 million. Today its population is estimated at just under 700,000.


Even if only 1/4 of those residents were the wage earners, that's still 275,000 taxpayers gone over the last 50 years.

Almost $20B in debt? That's 5% of MI's GDP just in debt for Detroit. That's 10% of the regional GDP.

That's really tough to get out from under.

The article also points out another issue that many States have had, and that's unfunded pension liabilities. If someone could explain how that happens, or, if it's not really that big of a deal, how that's computed, I'd appreciate it.




JeffBC -> RE: Detroit declares bantruptcy. (7/19/2013 8:10:46 AM)

quote:

ORIGINAL: DesideriScuri
The article also points out another issue that many States have had, and that's unfunded pension liabilities. If someone could explain how that happens, or, if it's not really that big of a deal, how that's computed, I'd appreciate it.

How is that a mystery? We see it constantly both in private and public sector... most glaringly in social security. It's theft, plain and simple.




Real0ne -> RE: Detroit declares bantruptcy. (7/19/2013 8:11:13 AM)



http://cafr1.com/listings/Listings.html

scroll down to:

Judges Retirement Services
Michigan Office of Retirement Services
Michigan Public School Employees Retirement System
Michigan Treasury/Michigan Bureau of Investments
Office of Retirement Systems
Public School Employees Retirement System
Retirement Systems of the City of Detroit
State Employees Retirement System
State Police Retirement Board






tj444 -> RE: Detroit declares bantruptcy. (7/19/2013 8:22:26 AM)


quote:

ORIGINAL: DesideriScuri
No wonder Detroit is having such a tough time

well.. duh!.. How hard is it to see a train coming at you? [8|]

I suppose in another 60 years Detroit will be just another empty ghost town.. (used only as sets for world destruction movies)...




Real0ne -> RE: Detroit declares bantruptcy. (7/19/2013 8:46:37 AM)

quote:

ORIGINAL: JeffBC

quote:

ORIGINAL: DesideriScuri
The article also points out another issue that many States have had, and that's unfunded pension liabilities. If someone could explain how that happens, or, if it's not really that big of a deal, how that's computed, I'd appreciate it.

How is that a mystery? We see it constantly both in private and public sector... most glaringly in social security. It's theft, plain and simple.




Because its an ancient feudal system that we are FORCED to live under. The courts are the gate keepers because we failed to use JURYS and instead allowed judges who work for government who are easily paid off make the decisions for us. Because of the problems caused by the same idiots who think the bullet [government program et al] has to be 2 inches into your body before you can claim you are in fear of your life and defend yourself. The government can create and use pre-emptive measures by force against the people but the people need to wait until the government can be proven to have done something unconstitutional which will in most cases be interpreted in favor of the state.

Its a well stacked deck that insures people continue to accept that red white and blue dick thats being jammed up their assholes everyday. ~ Carlin

Its not about the partys that form under the system its the system itself.

We threw away the requirement of grand jury indictments for ANY crime what so ever and of course the government moved right in to make a very lucrative rubber stamp extortion business out of it by extorting money from people for non non-injurious "social" and political offenses. Hell htey even slapped us in the face and we did not even know it when they moved from public law to public policy, under the same set of governing rules as the king in his realm and we were none wiser.

Well they got the democracy [and the pyramid scam] they wanted.

[image]http://i1273.photobucket.com/albums/y410/mypbemotes/00/democracy/Copyofsociety_pyramid_zps4eaf1c39.jpg[/image]
[image]http://i1273.photobucket.com/albums/y410/mypbemotes/00/democracy/Copyoftumblr_m5x8dvmKns1qkwdrko1_500_zpse68c9df9.jpg[/image]
[image]http://i1273.photobucket.com/albums/y410/mypbemotes/00/democracy/ed_13_zpsb6556f7e.jpg[/image]
[image]http://i123.photobucket.com/albums/o296/nine_one_one/stufff/billions-for-the-bankers-cover.gif[/image]
[image]http://i123.photobucket.com/albums/o296/nine_one_one/stufff/terrorism_american_style1.jpg[/image]






people think they are free because they do not have a cop telling them which hand to wipe their asses with but never fear its coming to a theater near you soon because they dont get it!


Funny that we have known about this for centuries and cant seem to do anything about it.

https://www.youtube.com/watch?v=49btEJenUGw










MasterCaneman -> RE: Detroit declares bantruptcy. (7/19/2013 8:49:21 AM)

I hear a start-up called Omni Consumer Products is tendering a bail-out offer even as we speak...




Real0ne -> RE: Detroit declares bantruptcy. (7/19/2013 9:11:21 AM)

and you know what.....under this system its perfectly legal




MasterCaneman -> RE: Detroit declares bantruptcy. (7/19/2013 9:37:35 AM)

Putting aside my snark, I wonder if this couldn't prove to be a testing ground for an actual corporate takeover of a city? What would it be like to run a municipality using the rules that make a 'good' company? Finances handled using GAAP? Departments, divisions, and institutions funded and managed using performance-based metrics rather than political connections?




Real0ne -> RE: Detroit declares bantruptcy. (7/19/2013 9:50:35 AM)

quote:

ORIGINAL: MasterCaneman

Putting aside my snark, I wonder if this couldn't prove to be a testing ground for an actual corporate takeover of a city? What would it be like to run a municipality using the rules that make a 'good' company? Finances handled using GAAP? Departments, divisions, and institutions funded and managed using performance-based metrics rather than political connections?



yeh but its always been that way!




The East India Company (EIC), originally chartered as the Governor and Company of Merchants of London trading into the East Indies, and more properly called the Honourable East India Company, was an English and later (from 1707)[1] British joint-stock company[2] formed for pursuing trade with the East Indies but which ended up trading mainly with the Indian subcontinent, North-west frontier province and Balochistan.

The East India Company traded mainly in cotton, silk, indigo dye, salt, saltpetre, tea and opium. The Company was granted a Royal Charter by Queen Elizabeth in 1600,[3] making it the oldest among several similarly formed European East India Companies. Shares of the company were owned by wealthy merchants and aristocrats.[4] The government owned no shares and had only indirect control. The Company eventually came to rule large areas of India with its own private armies, exercising military power and assuming administrative functions.[5]

[the police have no duty to protect you, the governments duty is to protect the "status" of the state and has NO liability or duty, to protect you, the police is typically an arm of the muni courts, the sheriff the county courts, civilians have no power over the military, and we simply put have been sold a candy coated sack of shit]


I call it same twisted shit with a face lift different day.


everything the aristocracies has done is done precisely this way, we are seeing history in the making because it is now in our faces and undeniable, except by politicians of course.


Even the courts are starting to go private with unpublished determinations that you cannot use with teeth in your defense.

you need FOIA, why? Not because they are "PURELY public".

They constructed a menagerie, it "always" has been, some see it, [like movie makers] some refuse to see it, most sense it as the matrix bcause its far too involved and complicated for the average people working their asses off just to feed their kids to sort out. The is not for the "common" people, never has been, it is for the "People" as shown in those pics I posted above.









tj444 -> RE: Detroit declares bantruptcy. (7/19/2013 10:03:38 AM)


quote:

ORIGINAL: MasterCaneman

Putting aside my snark, I wonder if this couldn't prove to be a testing ground for an actual corporate takeover of a city? What would it be like to run a municipality using the rules that make a 'good' company? Finances handled using GAAP? Departments, divisions, and institutions funded and managed using performance-based metrics rather than political connections?

people can and do buy cities.. Kim Bassinger did..




Real0ne -> RE: Detroit declares bantruptcy. (7/19/2013 10:06:47 AM)

cities and states and nations are "corporations" no different than any other corporation. well they are different, we worship them and they get away with forcing their services upon you at the end of a barrel of a gun and if you disagree they will bankrupt you and take away all your shit in the process




mnottertail -> RE: Detroit declares bantruptcy. (7/19/2013 10:08:33 AM)

Detroit did not disagree, and the nation did not bankrupt them. So much for that horseshit.




Real0ne -> RE: Detroit declares bantruptcy. (7/19/2013 10:11:53 AM)

its rare I run across anyone with such nonstop fucked up reading comprehension, that is not what I said nor does what you said pertain to what i said.






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