http://www.forbes.com/sites/brettjos...han-you-think/
Detroit has been the joke of the day every since the Chapter 9 filing. Let them not laugh too fast.
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http://www.forbes.com/sites/brettjos...han-you-think/
Detroit has been the joke of the day every since the Chapter 9 filing. Let them not laugh too fast.
We will not certainly be alone. The worst managed will be the first to fail -- but the problem of bad municipal financial management isn't unique to Detroit by any means.Quote:
Originally Posted by Trumpeteer
But don't let that suggest that we didn't fail. We did. There are certainly big systemic issues that contributed -- but until Detroit [[and other cities) reform themselves, there's no escape. I hope those who think we can escape don't find comfort in other's problems.
Seems everyone and every community has over spent.
But don't worry, we were still the clear winners in the scope and scale of abuse.Quote:
Originally Posted by sumas
Thank both political parties. Thank "free trade".
Also remember: What the Government no longer collects in trade tariffs they collect in taxes from American companies and civilians. And we wonder why we are not globally competitive if we pay our workers a decent wage...??
That's why you aren't going to see a Federal bailout of Detroit
If Detroit gets relief from pension obligations in bankruptcy court, other cities will be lining up to declare bankruptcy.
In lock step with the white house and federal expenditures in general over the last two decades or so!
Quote:
Originally Posted by sumas
Well well, it appears our next bubble has reached its capacity. Like the housing crisis [[which everyone and their mother felt was coming except those in charge) this municipality implosion will be the next major restructuring for American Society. This is the bill coming due for the lavish, manufactured standard of living provided to the Greatest Generation.
I agree with a lot of what was mentioned above including Free Trade being a huge player in this situation. This is bigger than just cities. It runs from individuals to communities to states to our federal government.
Our leaders have let us down. Greed has ruined this once great country founded on principals of freedom, liberty and advancing the human race.
SMH
We've always been the "Canary in the coal mine" Why am I reminded of the Police?
Orr wants to put retirees on Obama Care. Other cities are looking to do so as well.
http://www.mlive.com/news/detroit/in...n_seeking.html
Well, shoudn't they. Shouldn't everyone? The idea of Obamacare is good universal coverage. Are you suggesting that this is a problem? If so, why? I for one believe in universal, basic health care, although I don't like this implementation with so much emphasis on insurance. But its what we got, so let's use it.Quote:
Originally Posted by Gorath
I actually agree with you!Quote:
Originally Posted by Wesley Mouch
I wonder, what are the states going to do, since so many of them have even larger unfunded pension liabilities? I don't believe states are allowed to go bankrupt. Guess they will have to raise taxes.
Found recent Chapter 9 by Detroit Tunnel on the heels of Detroit's Chapter 11 interesting.
Detroit has been the "joke of the day" way before a bankruptcy filing.Quote:
Originally Posted by Trumpeteer
From what I've been hearing, Obamacare is going to be a nightmare because of the costs. Whether this true or not, we're getting ready to find out. Why do you think companies are hiring part-time help and laying off workers? They're trying to get around paying health benefits for their employees. For a small business owner, Obamacare is the final nail in the coffin.Quote:
Originally Posted by Wesley Mouch
Mandates and regulations bear hardest on smaller firms that can't spread the cost widely. VAT is a better way to drive the burden towards those of wealth. Listen up you redistributionists.Quote:
Originally Posted by Cincinnati_Kid
A tax on consumption hits those buying yachts more than diapers.