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Record Bankruptcy for Detroit
Wall Street Journal ^ | July 18, 2013 | Mathew Dolan

Posted on 07/18/2013 11:17:29 PM PDT by lbryce

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To: lbryce

Never fear, the usurper will write them a check with the rest of the country’s tax dollars.


51 posted on 07/19/2013 5:33:21 AM PDT by bgill (This reply was mined before it was posted.)
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To: norwaypinesavage

I heard that ~40% of the street lights don’t work in Detroit. I wonder what the % of unfilled potholes turns out to be....Then I’ll come back to his guy and his ‘problems’.

I’m sure, too, he wasn’t crying when the City was upping the Union $$, so the unions could funnel some if it back (no doubt), while the taxpayer had NO say in the matter.


52 posted on 07/19/2013 5:41:38 AM PDT by i_robot73 (We hold that all individuals have the Right to exercise sole dominion over their own lives - LP.org)
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To: HiTech RedNeck

Spot on, FRiend.


53 posted on 07/19/2013 5:58:25 AM PDT by Nervous Tick (Without GOD, men get what they deserve.)
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To: HiTech RedNeck

>> what is french for “to the wrong”?

John Kerry?


54 posted on 07/19/2013 5:59:28 AM PDT by Nervous Tick (Without GOD, men get what they deserve.)
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To: lbryce

Make way for Delta City.


55 posted on 07/19/2013 6:00:25 AM PDT by headstamp 2 (What would Scooby do?)
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To: Bullish
[Socialism crept in and has done what it always does. Made it destitute.

Soon this will come to States and then to America completely.]

Yep.


Got McFeudalism?

56 posted on 07/19/2013 6:05:45 AM PDT by TArcher ("TO SECURE THESE RIGHTS, governments are instituted among men" -- Does that still work?)
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To: Stingray

In hindsight the root cause of many of our nation’s problems are greedy bxstards who own our corrupt politicians and crave cheap labor above the interests of the country.

It goes back to and before the plantation owners, farmers, and now the global Chamber of Commerce that wants cheap labor and so they imported both our problems, and exported our jobs. We can include politics, and that is a major factor contributing factor because of corruption, but in the end its about failure of citizens and elected officials to put country first.


57 posted on 07/19/2013 6:19:35 AM PDT by apoliticalone
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To: cripplecreek

“I will not stand by and watch this great country destroy itself under mediocre leadership that drifts from one crisis to the next, eroding our national will and purpose. We have come together here because the American people deserve better from those to whom they entrust our nation’s highest offices, and we stand united in our resolve to do something about it.”

Was that speech before or after amnesty #1? That worked out real well in changing the face of America into a booming vibrant country didn’t it? More like changing us into a third world country of teeming corrupt gang infested cities.

We need to see less golden oratory and rhetoric and more real policies that actually benefit the sovereign USA citizens, and not the globalists.


58 posted on 07/19/2013 6:26:47 AM PDT by apoliticalone
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To: 2001convSVT

The critical point in the Detroit bankruptcy is how the Bond Holders are treated. Unless the bonded investments are a guarantee of repayment, Bonds of all municipalities(and state, and federal) are in jeopardy
 
Observe this never occupied commercial property.    Completed in 2007, last time I drove past it was still McEmpty.
 

 
Ever wonder who the suckers are whose Bonds and Retirement Funds and "Institutional Investments" are on the hook for paying the taxes on such securitized "investments"?

59 posted on 07/19/2013 6:30:05 AM PDT by TArcher ("TO SECURE THESE RIGHTS, governments are instituted among men" -- Does that still work?)
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To: apoliticalone

Reagan was right, we need builders and today’s conservatives aren’t going to accomplish anything but bitching and moaning.

As far as amnesty is concerned, Save it for a thread about the subject


60 posted on 07/19/2013 6:32:37 AM PDT by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: cripplecreek

“The only true fix for Detroit and the other coming collapses of other larger cities are Family, Faith, and Free markets.”

In that case, the public employee and the teacher’s unions must DIE, because Detroit is OWNED by them. Nothing good will happen until the unions that strangle Detroit (and restrictions on businesses) are killed. The current political class in Detroit need to be doing hard time behind bars for the institutionalized corruption they have fostered in the city.


61 posted on 07/19/2013 7:26:06 AM PDT by MasterGunner01
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To: lbryce

So how long before the USA declares bankruptcy? Next year? The year after that? Who’s gonna bail US out?


62 posted on 07/19/2013 7:28:01 AM PDT by XenaLee (The only good commie is a dead commie)
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To: MasterGunner01

The unions are dying since the passage of the right to work law but it takes time for contracts to run out and attitudes to change. The big 3 will remain unionized because the companies want it that way but smaller shops that supply them will likely lose their unions.


63 posted on 07/19/2013 7:37:45 AM PDT by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: norwaypinesavage
You didn’t mention forced busing of school children.

I usually do mention the forced busing.

64 posted on 07/19/2013 7:56:14 AM PDT by Slyfox (Without the Right to Life, all other rights are meaningless.)
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To: HiTech RedNeck

“Why not give it to Canada.”

Uh, I’m almost sure Canada would consider that an act of war.


65 posted on 07/19/2013 7:58:35 AM PDT by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: MasterGunner01

BTW one advantage Detroit has over most large cities is the fact that private sector competition is legal with some public sector city services.

For instance the privately owned Detroit Bus company is growing competition for the city provided service. They’ve got an interesting business plan of no regular routes. They have a phone app to show where the nearest bus is if you want to meet it or you can call the driver directly and have him pick you up at the nearest stop or even at your front door. They can also be chartered to make regular stops.

On one of my trips to Detroit a while back and elderly woman was telling me how much she loves the new bus company. She said they don’t make her struggle down the block with two or three bags of groceries, they take her right to her door and even carry the groceries to the house.

Private neighborhood security companies are on the rise in Detroit as well. They are limited in what they can do but they do help. Now if only fire departments could be handled the same way. Electric and water are going to be opened up to privatization.


66 posted on 07/19/2013 8:04:00 AM PDT by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: taildragger

“Ya need to talk to “cripplecreek” who IMHO is wired to what is going on behind the scenes. It seems big and smart money is about to buy in low. He will give you the 411 on the Iron Ore and Tar Sands coming to the City via ships, how they will be powered by LPG, Trade and Manufacturing in Canada and a potential Manufacturing back in Detroit with resurgence of a healthy Detroit and how it may become a trading hot spot.... “

Why Detroit? What’s so attractive there? The infrastructure and school systems have crumbled. It’ll probably be paralyzed financially for years. Noting has changed one whit regarding the uneducated, welfare-dependent, violent population that will continue to elect criminals to “run” the city.

Why not just start over from scratch? Bulldoze some big fields and build a new city from scratch. Would be cheaper and more effective in the long run. Or just find a better city in the general vicinity.

My prediction is that anyone who invests significant money in Detroit will lose their shirts.


67 posted on 07/19/2013 8:11:37 AM PDT by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: catnipman; cripplecreek
See "CC's" reply , No. 49. It is more profound and elegant than anything I could type.

Thanks Cripplecreek!

68 posted on 07/19/2013 9:10:54 AM PDT by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks.....)
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To: taildragger
And then take a gander at this thread. Detroit is a mere canary in the coalmine.

The NEXT 10 City Pensions That Will Run Out Of Money (Old article relevant to Detroit's Bankruptcy)
69 posted on 07/19/2013 9:17:45 AM PDT by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: cripplecreek
Thanks CC, saw it earlier today, Chicago getting a 3 notch downgrade yesterday was brutal, not enough airplay on that IMHO. I have to review that list, many are those I supected would be on it, others no. The question begs, how many of those are Democrat / Big Union Machine old city models. My guess is most of them, I need to research them...

BTW, this maybe the revenge of Meredith Whitney and her Muni Bond call, maybe all along she was hinting not at insolvency but the Corruption that is causing it, but it was to Un-PC to say so.

I am seeing on the web that the investigation into Detroit's Pension is on-going and I wonder what Corruption, Theft, and or other ailments they will find, and could this Chapter 9 be a move because a great deal of bad things did happen and they will be a shocker?

Tangent to this, are those 12 cities also in that boat where things have gone on with the pensions that might have some folks in chrome braclets?

Time will tell...

70 posted on 07/19/2013 9:25:46 AM PDT by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks.....)
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To: taildragger

I suspect that misconduct with a teenager wasn’t the only reason city council president Charles Pugh fled from Detroit.

The city council has been on their best behavior recently and I’m betting a criminal crapstorm of investigation is going to break very soon.


71 posted on 07/19/2013 9:31:07 AM PDT by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: cripplecreek
The city council has been on their best behavior recently and I’m betting a criminal crapstorm of investigation is going to break very soon.

I don't have a schadenfruede moment over that, it is actually sad. However, if your hunch it right it might fill Bing-Orr-Snyder's sails full of wind to clean it all up.

Maybe this is why Valerie Jarrett and "da-one" are steering clear, just like they steered clear of Kawame...

If you are right, and the level of corruption is shocking will that then have everyone shocked and then ask, well what about Baltimore, Chicago or insert city name here.....

72 posted on 07/19/2013 9:36:19 AM PDT by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks.....)
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To: cripplecreek

I live in southern california and im basically waiting for los angeles to go through the same thing. Liberals destroy EVERYTHING they touch.


73 posted on 07/19/2013 12:18:13 PM PDT by freshlook
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To: HiTech RedNeck

“Why not give it to Canada.”

The canadians ain’t that dumb.


74 posted on 07/19/2013 1:55:00 PM PDT by SgtBilko
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To: lbryce

Everyone knows why Detroit went to hell.

One reason can be openly discussed (the collapse of the local auto industry), the other reason can’t.


75 posted on 07/19/2013 2:38:27 PM PDT by JCBontheloose
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To: Gargantua

There are millions and millions of whites who hate republicans. They hate republicans and can’t give a reason why. It’s scary.


76 posted on 07/19/2013 4:00:44 PM PDT by VerySadAmerican (If you vote for evil because you can't see evil, you ARE evil!)
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To: lbryce

hollowed out by the flight of residents and businesses to the suburbs

HAHAHAHAHAHAHAHA

they blame flight in the first sentence and not what caused the flight... mismanagement of taxes and over regulations... this is the state of things to come for sure.

and the solution will be to ramp up agenda 21 to prevent anyone from leaving the cities.

obama will have to move swiftly on this... look for him to be in charge of the UN after his term and biden as the next ruler of america...


77 posted on 07/21/2013 7:44:54 AM PDT by teeman8r (Armageddon won't be pretty, but it's not like it's the end of the world.)
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To: ronnie raygun

look for a truly international city with saudi building an enormous mosque with a replica of medina...

detroitistan is coming, complete with its own airport


78 posted on 07/21/2013 7:51:47 AM PDT by teeman8r (Armageddon won't be pretty, but it's not like it's the end of the world.)
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