In My Native City Of Detroit, Atlas Has At Long Last Shrugged

Forbes ^ | 07/24/2013 | Prof. Mark Hendrickson, Grove City College

[SeekAndFind]

I’m sad. Detroit is my native city. Its decline from being arguably the world’s richest city to being America’s “first Third Word city” is tragic, politically criminal, and a warning to other Americans.

The official declaration of Detroit’s bankruptcy last week could not have come as a surprise to anyone familiar with the Motor City’s atrocious financial condition. The city had no hope of ever recovering from its colossal over-indebtedness, and without a central bank standing by to create fiat credit to augment its insufficient revenue—the scheme that is the only thing keeping the even more colossally over-indebted national government solvent—the only question was when someone would pull the plug.

Fiscally speaking, Detroit had been in the “walking dead” category for years. Last Thursday’s announcement by Detroit’s emergency manager, Kevyn Orr, finally acknowledged the inescapable facts.

Clearly, some Michiganders are still in denial and refuse to face those facts. Last Friday, Ingham County Circuit Judge Rosemarie Aquilina insisted that the Chapter 9 bankruptcy declaration be withdrawn, stating the Michigan constitution forbids any action that would decrease the pension benefits of public employees. In the first place, Judge Aquilina should read my article about will and abandon the delusion that a constitution can alter reality by making nonexistent funds magically appear; in the second, it is an unjust constitution that confers a protection on public employees that private-sector employees don’t have. A sounder constitution would have prohibited the city government from gaining control of employees’ retirement funds contributions and instead have mandated that those contributions all go into a private fund in the workers’ names where the city couldn’t touch them.

[The Antiyuppie]

New Orleans has going for it a very low cost of living, Memphis, nearly so.

[GOPJ]

The analogy I used was that the parasite outgrew the host and killed it.

That's good abb...

[Lou L]

Thanks guys...not that you mention it, and with the actual line, it does come back...

[spawn44]

The democrats ran out of the PUBLIC’S CRACK.

[Lou L]

The liberals will want to merge the ‘burbs with Detroit to make them pay for everything.

Because I'm very familiar with it, they used this same rationale in Pittsburgh. The libs in the city were upset because all their tax base had moved to the suburbs. No one wanted to come downtown to shop or spend money--and why would they, with thugs and $20/day parking? Anyway, they claimed that the surrounding counties all benefitted from the city's centeral presence, and therefore, the residents in those surrounding counties should be taxed. Some called it a "donut" tax, as those counties formed a ring around Allegheny County, which is where Pittsburgh is.

[GeronL]

They will make up any reason if they think the sheeple will buy it

[whodathunkit]

Let the remaining citizens of the former Detroit incorporate smaller, more viable communities from that portion of Wayne County that was once known as Detroit

I was interested in what is actually on the ground as opposed to the reports that I have read so I took a virtual trip via Google Maps Street View. I was a little surprised to see some very well maintained neighborhoods that appeared to be occupied by homeowners that take pride in their places.

On the other hand, there are some neighborhoods that I didn't even feel safe touring though it was virtual.

I honestly feel bad for those who are at risk at losing a home that they truly care about and have to agree with you that the only answer is to diversify. The problem being the value in those neighborhoods that are still viable is exactly what the looters feed upon. The Looters won't be happy until there is nothing left. They are not concerned for their future and never have been. That is why they are in the position they are in.

[upchuck]

Thanks for the ping. What a peaceful thread :)

[Hoodat]

so that there can be a vigorous discussion of its points and not its punctuation

Are you sure it's 'its'?

[Publius]

I’m not gonna take the bait. Not gonna do it...

[Hoodat]

Sorry, I couldn’t resist. I wasn’t around for yesterday’s grammar raid.

[Billthedrill]

I missed it too - sounded like fun. The problem with the article is that its “it’s” were its distraction from its content. It’s not a bad thing, I suppose, that its “it’s” did that, but it isn’t that its “it’s” were its major issue, I would think. Is it, or isn’t it the case that its “it’s” were it?

[Hoodat]

And now, back to the arts . . .

Twentieth Century Motors - as told by Jeff Allen