Detroit is broke; could bankruptcy lie ahead?

[boomerang]

Probably the only real option is for Detroit to go bankrupt so the current contracts are voided. I still like the Spender ideology of blowing money they don't have though. I think Detroit could be a perfect experiment to see just how successful this really could be. If it doesn't work, Detroit will be no worse off than it is now (and they can essentially have a party doing so). If it does work, we can start getting $5k checks every 6 months rolled out to every US actual taxpayer. I for one have been waiting for mine since switching over to the Spender side, I'm just hoping I'll see it one of these days...

You have to have a willing accomplice to lend you the money. I think they've run out of rich Uncle's.

 

[chucky2]

Impossible. GDP always climbs, hence spending can always climb. This is a given, all economists know that. The answer is to spend more. Everyone knows, when your economy is doing bad, spend. Not just a little, tons. Detroit needs to print some Detroit $'s, good for use in Detroit area only, and issue them out by the boatload.

 

[Lithium381]

Impossible. GDP always climbs, hence spending can always climb. This is a given, all economists know that. The answer is to spend more. Everyone knows, when your economy is doing bad, spend. Not just a little, tons. Detroit needs to print some Detroit $'s, good for use in Detroit area only, and issue them out by the boatload.

inflation is good for everyone!

 

[TallBill]

Examples of Detroit leadership (City Council/members):

http://www.youtube.com/watch?v=qqOSNI7l0bQ

http://www.youtube.com/watch?v=TrFvAiQDuEo

http://www.youtube.com/watch?v=OFwavRMPNI8

Too much to list = http://www.youtube.com/results?sear....0j2.2.0...0.0...1ac.1.11.youtube.AvYKXM4QeSs

Make you wonder who elected and kept reelect those clowns. The old saying "you get what you vote for", very true indeed.

I don't think Bing is all that but at least he did not behave and talk like those fools.



Yup. The taxes that support city functions such as property, sale, and income are way down. Detroit in its glory days (50s and 60s) had 1.8 million residents and in 2010 census, only had 700K. No people = no sale tax and no income tax. No people => no housing = no property tax.

Lol that's embarrassing

 

[Darwin333]

Yes, he was.


I didn't say he ran for the paycheck. However, a paycheck and some pretty nice benefits come with the job.

All I am saying is that he did little to change anything in Detroit. That could be for a number of reasons...but one of the main things off the top of my head that I can say he DIDN'T do that nobody can blame on the citizens of Detroit was allowing EMS and the PD to languish in constant stress because they could not properly serve the city.

Its just ridiculous the stuff that has been going on.


So yes, a fat paycheck is a really good perk to have when you are either powerless or not interested in really doing anything for the city.

You should also notice that Bing isn't the only person at the top of the food chain in Detroit that is jumping ship....city council members too.

And all Detroiters know how shitty and corrupt city council is.


Its a mess.


Here is an example of the type of stuff Bing has allowed to go on under his administration. Remember what I said about emergency services not having access to working equipment. They are unable to perform and are being told to lie about things instead.

Also note that the directives to lie came from the Fire Commissioner ...a person who hasn't been doing his job very well at all. Yet, he's still there. Still collecting that money.

http://www.myfoxdetroit.com/story/2...-over-detroit-ems-handling-of-police-shooting

http://lmgtfy.com/?q=how+much+does+the+mayor+of+detroit+make


I very seriously doubt the paycheck has ever or is any consideration to him whatsoever if he is in fact rich. Sure it doesn't hurt but depending on how rich he really is its chump change to him as the paycheck isn't THAT fat.

 

[Darwin333]

I don't know what my Grandparent's property taxes are.

I have a cousin that just bought a two family flat for 1200. And the two living areas are huge. She's going to gut the upstairs one and turn it into a second floor.

And this is a historic property, built in the 1900s....for $1200...have mercy :/

I am really good with numbers but I just want to make sure that I understand you correctly.

Did you say she bought a piece of property (couldn't give a fuck what it is) in a major US city for one thousand two hundred dollars? $1,200.00-??? Not $1.2M or 1,200,000.00 or even $120,000.00 but $1,200.00?

 

[Darwin333]

He means it has too many black people. Detroit is about 82% black.

Pretty sure he wasn't but are YOU saying that Detroit's population being 82% black is the problem?

 

[SheHateMe]

I am really good with numbers but I just want to make sure that I understand you correctly.

Did you say she bought a piece of property (couldn't give a fuck what it is) in a major US city for one thousand two hundred dollars? $1,200.00-??? Not $1.2M or 1,200,000.00 or even $120,000.00 but $1,200.00?

Yes...one thousand...two hundred..dollars. D:

Don't ask me how much the house was worth back in the 1900s when my Great Great Grandmother purchased it.

My Great Grandmother had been living there since forever. The neighborhood is pretty bad now, but there has been a lot of people coming out and buying the houses and cleaning up.

 

[PottedMeat]

aww yeah they're actually doing it

Detroit's RoboCop statue is almost done, and it's goddamn majestic

 

[Svnla]

Lol that's embarrassing

What worse is that those clowns are being elected over and over and over.

And they are not alone. Down here, we have John Wiley "Black Hole" Price = http://www.youtube.com/watch?v=kx7D2BjlXC4

http://www.youtube.com/watch?v=h-akk3gog34

And of course, he won all the elections again and again and.... You get what you voted for, voters.