Detroit inches closer to going broke

Page 3 - Seeking answers? Join the AnandTech community: where nearly half-a-million members share solutions and discuss the latest tech.

peonyu

Platinum Member
Mar 12, 2003
2,038
23
81
Detroit sucks, driving through that city is like visiting a 3rd world city [except with much less people around]. There was white flight there but even black people are leaving detroit in droves now, black rule wasnt as grand as they thought it would be. A few of the Suburbs around Detroit are still ok but even those are starting to become blighted like Detroit...At this rate it would be best to bribe Canada into ceding the Detroit area, but it would be a hard sell. Even if we offered Canada a Billion dollars they would likely still say HELL NO. Maybe let Detroit have self rule ? No one wants to own that city really.
 

Greenman

Lifer
Oct 15, 1999
20,284
5,057
136
According to the data, most of the workers are either Teachers or Government employees. I can believe it. There are a lot of schools in Detroit (and the teachers aren't paid much = live in Detroit). As far as Government employees, I know that a lot of these people actually lived outside of the city but with new tax breaks and incentives being given for people buying properties in Detroit a lot of people are coming back.

At one time there was a deal that if you bought a home in a certain area of Detroit you didn't have to pay taxes for 10 years. I'm not kidding. What they are trying to do in the city now is push all the poor people into one area and turn the rest of it back to a livable environment for new residents.

Change in Detroit IS happening.

The change is going to have to be fundamental, sweeping, and well planed. A huge government payroll, with what I'm sure are very generous retirement benefits, crippling debt, a shrinking tax base, and most likely crumbling infrastructure, makes me wonder if it can be saved.
 

Greenman

Lifer
Oct 15, 1999
20,284
5,057
136
People have moved there from Hawaii. It is a hotbed of social innovation and experimentation, dynamic and exciting. Detroit is getting attention from the new wave.

What social innovation and experimentation? What is it that they're trying that we should be looking at? I'd be very interested in seeing what has been attempted.
 

waggy

No Lifer
Dec 14, 2000
68,145
10
81
The change is going to have to be fundamental, sweeping, and well planed. A huge government payroll, with what I'm sure are very generous retirement benefits, crippling debt, a shrinking tax base, and most likely crumbling infrastructure, makes me wonder if it can be saved.

It can. just not without major changes to culture.
 

mpo

Senior member
Jan 8, 2010
457
51
91
Hey, according to their FAQ, they are going to build a monorail.

Oh, and the currency is the 'Rand'.

That's all I need to know.
 

SheHateMe

Diamond Member
Jul 21, 2012
7,251
20
81
Watch out, the libertarians are coming...

Well, a group wants to buy Belle Isle (a large park owned by the city) for $1 billion and turn it into a libertarian commonwealth separate from the US.

http://www.detroitnews.com/article/...Belle-Isle?odyssey=tab|topnews|text|FRONTPAGE

and
http://www.commonwealthofbelleisle.com/

Good luck with that...

Its not going to happen. That park belongs to the people and the city of Detroit. There is nothing wrong with the park at all. They should turn it over to the Department of Natural Resources though so they can take better care of it.


The change is going to have to be fundamental, sweeping, and well planed. A huge government payroll, with what I'm sure are very generous retirement benefits, crippling debt, a shrinking tax base, and most likely crumbling infrastructure, makes me wonder if it can be saved.

This all depends on if the residents of Detroit make the right decision on who to elect for Mayor. I think Detroit learned the hard way when they voted Kwame in twice and he screwed the city over...so, they better make the right choice this time.
 
Last edited:

Svnla

Lifer
Nov 10, 2003
17,999
1,396
126
Most of you will think this is ludicrous to say but to the right investors ear may prove to be a plentiful return. It will require a good bit of capital. Buy blocks of land near the old rundown buildings and the land they occupy as well. Bulldoze it all. Build gated communities with security entry points. Entice green energy, solar, wind, electric car batteries what have you to low lease rates and their pick of the building design. This is not a fast return and honestly its a 20-30yr project that will take some balls, money and initiative to make it happen.

I hear you but...

From my previous links above, the City's bond rate is junk because it is beyond broke. Almost no one wants to touch it and the interest rate is sky high. Where/how are you going to get the money/capital/investment to do all of green energy? Don't forget about the fiasco of "green energy" such as Fisker, Solyndra/123 battery/etc.

There was a story in the Wall Street Journal a few months ago. It was about a young professional black lady. She was from Detroit, went away for college, and then went back. She purchased a house, tried to refurbish and rebuilt her block/neighborhood. Within a week, the house was broken into and her stuffs were stolen. Then she had to put up with all the harassment from scums/thugs of the neighborhood. Finally, she got enough and got out. I will see if I can locate the link of the story.
 
Last edited:

Greenman

Lifer
Oct 15, 1999
20,284
5,057
136
Its not going to happen. That park belongs to the people and the city of Detroit. There is nothing wrong with the park at all. They should turn it over to the Department of Natural Resources though so they can take better care of it.




This all depends on if the residents of Detroit make the right decision on who to elect for Mayor. I think Detroit learned the hard way when they voted Kwame in twice and he screwed the city over...so, they better make the right choice this time.

While I'd like to think a lesson has been learned, I doubt the next mayor will be much better than the last. But, even if Detroit does elect a top notch mayor, he or she will be facing almost insurmountable problems.

I wish them all the best of luck, they're going to need it.
 

SheHateMe

Diamond Member
Jul 21, 2012
7,251
20
81
While I'd like to think a lesson has been learned, I doubt the next mayor will be much better than the last. But, even if Detroit does elect a top notch mayor, he or she will be facing almost insurmountable problems.

I wish them all the best of luck, they're going to need it.

Isn't that what people have been saying about future Presidents?


Point is, anything is possible :)

I'll cross my fingers and hope for the best for my Birthplace and Hometown.
 

umbrella39

Lifer
Jun 11, 2004
13,819
1,126
126
http://motorcitytimes.com/mct/2011/03/detroit-49-years-of-the-liberal-agenda/

Read the links or google "detroit liberal experiment" and see the light.

No thanks, that light is pretty dim...

Linking to "A conservative view of south east Michigan and beyond" isn't a terribly convincing argument considering the "conservative agenda" hasn't fared much better in many of the surrounding and nearby suburbs of Detroit (someone tell them it's not "south east"). Detroit's problems go far beyond "liberalism"...
 
Last edited:

Greenman

Lifer
Oct 15, 1999
20,284
5,057
136
No thanks, that light is pretty dim...

Linking to "A conservative view of south east Michigan and beyond" isn't a terribly convincing argument considering the "conservative agenda" hasn't fared much better in many of the surrounding and nearby suburbs of Detroit (someone tell them it's not "south east"). Detroit's problems go far beyond "liberalism"...

It's not all that bad, you just have to tilt your head a little to make up for the slant. There is some interesting information, if it's accurate.
 

Exterous

Super Moderator
Jun 20, 2006
20,348
3,426
126
Cities are going broke due to bad planning. Fast money from selling land. Long term high expenses.

http://globalpublicsquare.blogs.cnn.com/2012/07/31/the-cost-of-americas-inefficient-sprawl/

The only dense areas in Detroit covers what, 1 sq km? And I assume most of that is offices.

Detroits urban density should be at least 3 times higher.

Yes - I am sure it has nothing to do with suddenly having one of if not the highest unemployment of any city in the US - losing some 325,000 jobs - combined with a massive population drop of more than 50% not to mention a massive housing market crash all of which decimated their tax base. Then, on top of that having some very corrupt government officials and some high spending requirements based on previous tax levels. Nope nothing to see there - it was because the city wasn't dense enough :rolleyes:
 
Last edited:

K1052

Elite Member
Aug 21, 2003
45,896
32,696
136
Yes - I am sure it has nothing to do with suddenly having one of if not the highest unemployment of any city in the US - losing some 325,000 jobs - combined with a massive population drop of more than 50% not to mention a massive housing market crash all of which decimated their tax base. Then, on top of that having some very corrupt government officials and some high spending requirements based on previous tax levels. Nope nothing to see there - it was because the city wasn't dense enough :rolleyes:

This speaks to the root of Detroit's problem, it was essentially a huge boom town centered around the automotive industry.

That said it's geographical position and transportation network leaves it an important part of the economy so a resurgence isn't out of the question. With the opening of the expanded Panama canal on the horizon the volume of shipping through Detroit will explode. The new bridge and the proposed double track/double container stack rail tunnel will funnel a massive volume of trade across the border.
 

Svnla

Lifer
Nov 10, 2003
17,999
1,396
126
So so so true......................lol

And yet, you and your big talk friends are still following me and my posts, licking my butt hole.

At least I am smart enough to know 40% =! most/majority as you said. ROTFLMFAO :D

I also have the balls and cold hard cash to back up my statements, unlike you and your little friend(s).

It has been a few years, still no link(s)/sources for what I asked, classy? What a pathetic loser.
 
Last edited:

piasabird

Lifer
Feb 6, 2002
17,168
60
91
When yoiu raise taxes, the rich people, and the young talented people often leave for greener pastures. That is why high tax states get so poor. Everyone leaves to make money elsewhere.
 

jhbball

Platinum Member
Mar 20, 2002
2,917
23
81
I hope they build that monorail. Just look at Ogdenville. It really put them on the map!
 

SheHateMe

Diamond Member
Jul 21, 2012
7,251
20
81
I hope they build that monorail. Just look at Ogdenville. It really put them on the map!

No chance for a monorail. The tax payers won't pay for it and the benefits of having one don't outweigh the cons of building one. Its not that hard to drive into Downtown Detroit and if you're really hurting over having park somewhere far, there is the PeopleMover which is like monorail anyway.
 
Nov 8, 2012
20,828
4,777
146
When yoiu raise taxes, the rich people, and the young talented people often leave for greener pastures. That is why high tax states get so poor. Everyone leaves to make money elsewhere.

but...but... when you tax it equals more money right????

What is this shit about indirect affects of tax increases? People putting their money elsewhere? Companies laying off and thus a reduction in payroll tax paid? People leaving to avoid the taxes? High unemployment and nothing but poverty? Get out of here with your truthful bullshit! The liberal media doesn't want to hear such shenanigans. You're putting a kink in the circle jerk.