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(RealClear)   Finally some good news for Detroit: You're eligible for the largest municipal bankruptcy in U.S. history   (realclear.com) divider line 28
    More: Fail, Judges' Rules, U.S., Detroit, restructuring plans, Municipal Employees, Detroit River, Detroit Institute of Arts, bankruptcy  
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3352 clicks; posted to Main » on 03 Dec 2013 at 2:15 PM (33 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



Voting Results (Funniest)
View Voting Results: Smartest and Funniest

2013-12-03 06:16:33 PM
2 votes:

Fusilier: megarian: AND STOP HATING ON US FOR WANTING TO KEEP OUR ART STUFF!

Seriously, it's the ONE thing we have that doesn't involve shooting stuff and fire.

Let us have this one thing, goddamnit.

Most of us have no wish to visit your blighted city. Why not send some of your capitalist-acquired world heritage quality loot out on tour to raise a few shekels for the teachers, firefighters, and even the cops who are going to get hosed.
Send a hundred items each year.


That's our plan. Apparently.

We're basically pawning our art.

And f*ck you. I'm pretty sure I saw a cop yesterday.

Could have been a stripper, though.
2013-12-03 04:19:11 PM
2 votes:

hermitage_deux: generally speaking... debts with interest cannot be repaid, because the dollars equal to the amount of interest accrued do not exist in the system. Only the principle amount loaned exists in the system.



Actually, this is true only when the debt is issued in a admiralty court (with a fringed flag), and the debtor's name is written in all CAPS with no middle initial. Otherwise, the debt can be paid off with gold delivered by the greys from the secret base in Antarctica.
2013-12-03 02:31:46 PM
2 votes:

Pants full of macaroni!!: The lesson is clear: democrats must NEVER AGAIN be allowed to hold ANY public office in the United States.




What the Fox says.
2013-12-03 02:27:13 PM
2 votes:
The lesson is clear: democrats must NEVER AGAIN be allowed to hold ANY public office in the United States.
2013-12-03 06:01:02 PM
1 votes:

rjkline: Wouldn't it be hilarious if we had 25 states with nothing but democrats and 25 states with nothing but republicans? That is my first wish if I ever find a genie in a bottle. My second wish would be to come back about 20 years later to see the results. And my final wish is to sit back and listen to who the democrats would blame their total failure on. It would be AWESOME.....I mean totally AWESOME!


They'd both explode.

Democrats would immediately raise taxes to ridiculous levels, apply a bunch of well-intentioned and possibly necessary, but ultimately job-killing regulations, and (relatively) destroy the economy.  (Seriously, look at Europe.  Accepting higher inequality gets us some useful things like significantly higher GDP/capita, a bunch of brain drain in our favor, lower unemployment, and higher workforce participation rates).  Among other things, I'm willing to bet that at least half of them would follow the ratchet tax plan, wherein government spending tracked GDP during boom times and then when the recession hit (which it always does.  It's one of those bugs of capitalism), they'd raise taxes to compensate for lower incomes until they eventually ran out of other people's money.

Republicans would immediately cut taxes to useless levels including cutting those important things like roads and schools.  They might also go really crazily derp socially.  This would then destroy the economy as the infrastructure collapsed and the educated workforce either left or started using private schools/roads.

/TLDR: Neither extreme is good.  Republican one is probably mildly better for me personally (Namely, you can solve 75% of the problems they cause by throwing money at them whereas the Democratic one would leave me with no money), but it's a definite douche/turd scenario there.
2013-12-03 05:30:30 PM
1 votes:
\o/

HORRAY!!!
2013-12-03 05:16:34 PM
1 votes:

OrangeSnapper: Frizbone: This bankruptcy resulted in people's decision to buy more reliable Japanese cars than unreliable American cars.

[pics4.city-data.com image 553x277]
Where more reliable Japanese cars come from.


www.miataturbo.net
2013-12-03 05:10:29 PM
1 votes:

BullBearMS: However the banks made out like bandits, so it's all good, right?


thegrio.files.wordpress.com


Detroiters Elect Ex-Con Brian Banks As State Rep
"Banks, a Democrat and lifelong Detroiter, won a seat in Lansing as a state representative for the 1st District, representing the east side of Detroit, Harper Woods, and the tony Grosse Pointes. He won 68 percent of the vote to Republican Dan Schulte's 32 percent.

Banks, 35, was convicted eight times between 1998 and 2004 of writing bad checks and credit card fraud.

His slogan was "You can Bank on Banks."

"It's time to elect a leader, with experience and passion, who will fight for you," he wrote on his website."

Michigan voters approved a constitutional amendment in 2010 that bans anyone convicted of a felony in the last 20 years from running for office - but the caveat is the conviction has to be "related to the person's official capacity while holding any elective office."
2013-12-03 04:46:16 PM
1 votes:

WhatIsLongPork: hermitage_deux: generally speaking... debts with interest cannot be repaid, because the dollars equal to the amount of interest accrued do not exist in the system. Only the principle amount loaned exists in the system.


Actually, this is true only when the debt is issued in a admiralty court (with a fringed flag), and the debtor's name is written in all CAPS with no middle initial. Otherwise, the debt can be paid off with gold delivered by the greys from the secret base in Antarctica.


As a sovereign person, I have no debt and no courts, admiralty or otherwise, apply to me.
2013-12-03 04:21:40 PM
1 votes:

PunGent: Or are you one of those "fiscal conservatives" who thought we could pay for 2 wars and 2 massive expansions of federal government with tax cuts?


Isn't this similar to how people are magically able to afford healthcare insurance because they are forced to buy it by law now? Both sides of the coin are hopelessly corrupted by their agendas and affiliations, but everybody's too busy covering the deck chairs on the titanic with red and blue beach towels to notice the real problem.
2013-12-03 04:10:01 PM
1 votes:
This article really helps explain why Detroit is in the trouble they are in.

http://www.huffingtonpost.com/2013/08/10/detroit-1-million-check_n_3 73 3285.html
2013-12-03 04:08:26 PM
1 votes:
in somewhat related news... the Insane Clown Posse says they will not be holding the annual gathering of the juggalos in Southern Illinois... and that they have found a new location... and it is a 'doozy'.  I'll leave it to everyone to draw their own conclusions from this news.  (I report, you decide.)

Should I stay or should I Faygo?
2013-12-03 03:59:08 PM
1 votes:

rjkline: [derp]


What ended up breaking Detroit was not decades of Democratic policy, but rather complex borrowing by the city.  The same thing brought down Jefferson County in Alabama.

Had the city not entered into those loans, it would still be solvent.  Of course, it would still be plagued by urban decay and corruption, but that is a different matter.  It could be argued that it could have stumbled on for another decade or two like that before the Chinese swooped in took over.
2013-12-03 03:56:47 PM
1 votes:
Worse yet, Stafford is too inconsistent to get the Lions to the Super Bowl. They'd probably be lucky to win the division that's all but being handed to them.

Regarding city government, perhaps a Michael Moore documentary blaming the problems on corporate something or other would be in order.
2013-12-03 03:43:12 PM
1 votes:

rjkline: Republicans want the same nice stuff that libtards want, but they just happen to understand that you cannot have things that you cannot afford.


i560.photobucket.com
2013-12-03 03:34:24 PM
1 votes:
I'm way in debt and need bankruptcy. But I don't need to sell my Corvette though, cause it won't permanently fix the problem, so just go ahead and let me keep it.
2013-12-03 03:12:38 PM
1 votes:

meanmutton: Pants full of macaroni!!: The lesson is clear: democrats must NEVER AGAIN be allowed to hold ANY public office in the United States.

All kidding aside, the lesson that really should be clear -- any time you have a single party running government for a long period of time without a legitimate challenge, shiat gets farked up.


Yeah, I'm sure it has nothing to do with industry leaving the cities in droves.
It's all about political affiliation.
2013-12-03 03:11:17 PM
1 votes:
Democrats promise everyone the world to get elected, but have no idea what to do when the bills are due. It's actually hilarious to watch. By gosh it's our RIGHT to have EVERYTHING!  It's just like when little kids tell their parents to "JUST WRITE A CHECK" for whatever they may want after their parents explain to them that they cannot afford it. Republicans want the same nice stuff that libtards want, but they just happen to understand that you cannot have things that you cannot afford.  Amazingly simple concept that my young kids already know, but apparently its too complicated for Harvard educated Democrats to grasp.
2013-12-03 03:06:00 PM
1 votes:

AngryDragon: meanmutton: Pants full of macaroni!!: The lesson is clear: democrats must NEVER AGAIN be allowed to hold ANY public office in the United States.

All kidding aside, the lesson that really should be clear -- any time you have a single party running government for a long period of time without a legitimate challenge, shiat gets farked up.

Yup.  This is the lesson.  Absolute power corrupts absolutely.  Exactly why there should never be lifetime politicians also.


This has less to do with Detroit's city government, and more to do with our national trade policies. After WWII, the folks in Washington made lopsided deals with South Korea, Japan, and West Germany in order to prop up their economies and secure their alligience during the Cold War. This came at the expense of our manufacutring mecca, Detroit. There was never enough political pressure to change the policies even after the Cold War because by then the importers carried more clout than the unions.
2013-12-03 03:03:12 PM
1 votes:
Too bad Coleman's not around to see his handiwork.
2013-12-03 03:01:34 PM
1 votes:
Hey Detroit. Here's a nice cash offer. Buy up my credit card debt and I'll give you $100 - cash! All you gotta do is add my measly credit card debt to the Bankruptcy and 5 twenties will be yours.

Now, Detroit, I'm not saying there are a lot of other people like me out there, but if you want some hard currency, this could be an idea you might want to run with.
2013-12-03 03:01:29 PM
1 votes:
I was going to buy a Toyota Camry...but I don't like foreign cars so I bought a Chevy Aveo instead because I'm an American!!
2013-12-03 02:43:12 PM
1 votes:

Pants full of macaroni!!: The lesson is clear: democrats must NEVER AGAIN be allowed to hold ANY public office in the United States.


All kidding aside, the lesson that really should be clear -- any time you have a single party running government for a long period of time without a legitimate challenge, shiat gets farked up.
2013-12-03 02:39:28 PM
1 votes:
Can't we sacrifice Charlie LeDuff for a couple grand of debt relief?
2013-12-03 02:35:09 PM
1 votes:

Frizbone: This bankruptcy resulted in people's decision to buy more reliable Japanese cars than unreliable American cars.


pics4.city-data.com
Where more reliable Japanese cars come from.
2013-12-03 02:35:03 PM
1 votes:

Smeggy Smurf: How many Democrat run cities in bankruptcy does that make now?

/financial responsibility has a conservative bias


Considering what Reagan and Bush did to the national debt, you may want to can that shiat.
2013-12-03 02:18:59 PM
1 votes:
NUMBER ONE! NUMBER ONE!
2013-12-03 02:07:09 PM
1 votes:
How many Democrat run cities in bankruptcy does that make now?

/financial responsibility has a conservative bias
 
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