The only other thing Philadelphia has going for it is that the business and tourist areas of Center City are relatively safe.
Posted on 07/22/2013 10:28:25 AM PDT by SeekAndFind
Read the above article as opposed to this:
5th Largest City in US is Effectively Bankrupt
You know a city is in deep trouble when its mayor invites Wall Street but not the press and not private citizens to a closed meeting to discuss the future, including a sell-off of city assets.
Philadelphia Mayor Michael Nutter, whose municipality has the lowest credit rating of the five most-populous U.S. cities, did just that.
My translation: Philadelphia is bankrupt. However, that easily discernible fact will of course be denied until it officially happens.
CLICK ABOVE LINK FOR THE REST...
wishful thinking?
The First 10 City Pensions That Will Run Out Of Money
#2 Chicago...Unfunded liability: $44.8 billion Unfunded liability per household: $41,966 Solvency horizon: 2019
#1 Philadelphia..Unfunded liability: $9 billion Unfunded liability per household: $16,690 Solvency horizon: 2015
Their day in the sun is coming:
http://www.businessinsider.com/first-city-pensions-insolvent-2010-12?slop=1#slideshow-start
bump
Chicago sold off the cash stream from the right to park a car anywhere in the city for the next 75 years.
Of course, the contract that solemnized that deal is only one Supreme Court decision from becoming "inoperative," but still.
If the Northeast section was never taken over, Philly would have been Detroit fifty years ago.
Still just a matter of time.
translation: Unlike former Detroit Mayors who went to prison, Fast Eddie Rendell was able to insert himself at the highest levels of the Democrat Party to ensure we remained tapped-into those sources of money.
Bull. Philly IS detroit.
And those rating agencies have such a terrific track record too.
RE; The Northeast section was and remains largely white and jewish.
What’s to stop the folks living in the Northeast section from migrating to friendlier climes OUT of Philly?
Most of the productive folks in Detroit did it over a decade ago.
when i left roxborough n manayunk were white.
lots of cops and FD.
also south philly were italians and polish. not so much now?
Bandstand vs Motown...I’d call it a push
Now if you head south of Erie Street, you are in peril no matter what color you are.
RE: Meanwhile Philadelphia counts four major cities in that proximity — Newark, Jersey City, New York, and Baltimore
And these cities do not have pension and budget problems? I’m not sure that depending on cities with their own hilly-like problems is something to comfort oneself about...
(That's a Manayunk reference that only Philly natives would get)
Not only that, Philly has cheese steak, what does Debtroit have?
North Philly is America’s Mogadishu.
The only other thing Philadelphia has going for it is that the business and tourist areas of Center City are relatively safe.
W. Wilson Goode had the right idea when he firebombed it and burned down twenty square blocks of it. Urban renewal, democrat style!
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