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Detroit declares bankruptcy

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Detroit declares bankruptcy

Old 18th Jul 2013, 21:19
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Detroit declares bankruptcy

It seems that the motor city has gone tits up.
Irrespective of how it got here ,what happens, now to stuff like law enforcement and garbage collection? Will the city "return to nature"?
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Old 18th Jul 2013, 21:47
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City will continue to "run"; creditors, bondholders and pensioners (current and future) will get screwed.
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Old 18th Jul 2013, 21:54
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Unfortunately not without precedent. Orange County, south south of LA declared in 1994. They might be a case study if you're interested.
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Old 18th Jul 2013, 22:37
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Detroit got anything it can sell to raise money?
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Old 18th Jul 2013, 22:41
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Well it used to sell cars, now it has lots of space to sell to build factories.

Someone didn't look ahead far enough.

They are probably anti gun but a few gun makers have moved
in the last few years from anti gun states - Winchester and others.

With the huge growth in guns and security business in the last
few years they could have built a core nucleus of solid industries
to grow from.
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Old 18th Jul 2013, 22:42
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One reason, a very helpful reason, Detroit declared bankruptcy is so they can break the stranglehold that the city unions have on the city.

Lone

Capitalism has been living off the wealth created by those who went before ever since.............its all downhill from here
Really, then please explain why no city in states that have Right to Work laws, not only have never declared bankruptcy, but often have budget surpluses? You know, the ones that are still growing in population, of people fleeing states and cities that have been bled to death by unions.

Now remind me again just how socialism worked so good in East Germany, before the wall came down.
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Old 18th Jul 2013, 22:55
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are the big unions still mafia-controlled?
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Old 18th Jul 2013, 22:55
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According to this chart wealth creation expressed as GDP is trending downwards in US and Europe FWIW

It's a long timeframe tho...




This remarkable chart—from the Kleiner Perkins Caufield Byers “Internet Trends” presentation in late May—shows the shifting shares of global GDP over an unusually long timeframe. Europe’s dive over the past century is made clear, along with China’s sharp rise, and India’s middling progress. Perhaps surprising: China’s and India’s huge shares in 1820. And the American Century looks a lot less impressive in this context. —Kevin J. Delaney

Other charts here
 
Old 18th Jul 2013, 23:00
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Detroit is just the latest monument to the corrosive effect of 'progressive' government. It takes, as Detroit shows, about fifty years of uninterrupted Democrat rule to reduce the most prosperous city in America, literally, to rubble.

That process applies as well to California and Illinois, and even the entire country. What mystifies me is that academics, journalists, and Hollywood overwhelmingly continue to buy into it.
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Old 18th Jul 2013, 23:11
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The Left doesn't want to help the underprivileged in a way that would get them out of the situation they are in. The Left only wants to help them by handing help out with no intent or hope for self sufficiency by the receivers. Keeps their base wide.
 
Old 18th Jul 2013, 23:33
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con-pilot One reason, a very helpful reason, Detroit declared bankruptcy is so they can break the stranglehold that the city unions have on the city.

Really, then please explain why no city in states that have Right to Work laws, not only have never declared bankruptcy, but often have budget surpluses? You know, the ones that are still growing in population, of people fleeing states and cities that have been bled to death by unions.

Now remind me again just how socialism worked so good in East Germany, before the wall came down.
Really? It's all the unions fault? All of it? No other causes or factors at all went into any of this?

I'm not pro-union, I'm also not anti-union. I know why unions exist and what they have managed to do for people, good and bad. But, I just find it inconceivable that everything is the fault of unions.

eastern wiseguy
Detroit declares bankruptcy
It seems that the motor city has gone tits up.
Irrespective of how it got here ,what happens, now to stuff like law enforcement and garbage collection? Will the city "return to nature"?
I think OCP comes to the rescue and New Detroit will be built with private enterprise providing all the services. Look for a ED 209 on a street corner near you soon.
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Old 19th Jul 2013, 00:00
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Really? It's all the unions fault? All of it? No other causes or factors at all went into any of this?
All I can say, is look at the evidence, the auto unions, coupled with the city unions pretty well cooked Michigan's goose.

If not totally at fault, they contributed heavily to the fall of Detroit. There are couple of posters here that still live in the Detroit area. They will confirm what I said.

So, if inflated union salaries and retirement costs didn't cause the fall on the one time great city, what did? What caused the population of Greater Detroit to fall to less than 700,000 from a high near 3,000,000?

You don't see cities like Dallas, Houston, Atlanta and other similar cites going broke.
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Old 19th Jul 2013, 00:03
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Same here in Aus with the Unions.

A time existed that they pushed, pushed and pushed,
end result most manufacturing just went off shore,
well before China really took off.

Cars still made here but with big Gov't subsidy's.
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Old 19th Jul 2013, 00:08
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I seem to remember reading somewhere that in Aus during WW2 the dockyard union went on strike several times.?
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Old 19th Jul 2013, 00:13
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Yes, that is correct.

And Unions made it hard during the Vietnam war, postal mail etc.

The head honcho, oversee Union, the ACTU were very powerful.
Building, Manufacturing, Minings, Shearers etc, all the same.
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Old 19th Jul 2013, 00:28
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I seem to remember reading somewhere that in Aus during WW2 the dockyard union went on strike several times.?
They did so on many occasions, particularly when Russia and Germany were allies, (before 22 June 41). The communist influence was very high in the Australian union movement - and in the Australian Labor Party. Even after 22 June 41, the wharfies were still so bloody minded with their go slows that there were instances where American troops kicked them off the wharves and loaded and unloaded their ships themselves.

Many will be familiar with the story of the Krait, where Australian special forces successfully attacked Singapore Harbour in canoes. Some might not be so familiar with the follow up operation later in the war that was a disastrous failure. One of the main reasons it failed was because the shipbuilding union, demanding more money, 'went slow' on building the boat the SF were planning to use on the operation and the plan had to be changed dramatically with the attackers taking over a Malayan fishing boat in mid ocean.

Don't get me started on their actions during the Vietnam war.
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Old 19th Jul 2013, 00:38
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Andu

I had forgotten about the KRAIT.
That was my units forebears and we are custodians
of the M&Z Association and they always came down
to the unit on ANZAC day.

When I was doing some work for Myers department store,
I did a stint at Dandenong, a not so nice a suburb east of
Melbourne (for those that don't live here).

One of the men who worked in Menswear, older gentleman,
quiet, did his job, we got on well and he knew I was Army.

Anyway, one ANZAC day, I did a double take head spin
as I bumped into him at the unit. He was all dressed up
in Blazer with the M&Z Badge on the lapel plus medals etc.

He hadn't said anything to me and had a wry smile when
I realised who it was and where I knew him from.

Have you visited the KRAIT in Sydney ?
I still have to do it myself as I am not there often.
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Old 19th Jul 2013, 01:00
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Ah, Detroit ain't that bad...!

Hell that A320 flying lunatic called Ben comes from there and then there is this bloke...




Caco
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Old 19th Jul 2013, 01:57
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All I can say, is look at the evidence, the auto unions, coupled with the city unions pretty well cooked Michigan's goose.
Add a massive dash of corruption.

The cities unions did not want to negotiate a settlement and have chosen the bankruptcy route. The unions are courting the Obama administration to step into the process and put them ahead of the secured creditors as did the administration with the auto unions during the GM bankruptcy.

VFD
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Old 19th Jul 2013, 02:05
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A city run by Black Democrats and Unions.....what could possibly go wrong?
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