Detroit declares bankruptcy
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18-07-2013, 04:41 PM
Detroit declares bankruptcy
Oh, dear.
http://www.nationalreview.com/corner/353...ling-beard

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Science is not a subject, but a method.
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18-07-2013, 04:43 PM
RE: Detroit declares bankruptcy
(18-07-2013 04:41 PM)Chas Wrote:  Oh, dear.
http://www.nationalreview.com/corner/353...ling-beard

Yeah not surprised at all.

Good documentary on the state of Detroit right now:

[Image: DET_poster_theatrical.png]

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18-07-2013, 08:20 PM
RE: Detroit declares bankruptcy
Well, what happens next?

Is God willing to prevent evil, but not able? Then he is not omnipotent. Is he able, but not willing? Then he is malevolent. Is he both able and willing? Then whence cometh evil? Is he neither able nor willing? Then why call him God? -Epicurus
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18-07-2013, 08:31 PM
RE: Detroit declares bankruptcy
(18-07-2013 08:20 PM)loganbeaupre Wrote:  Well, what happens next?

I'm sorry. Feel free to refer to me by some derogatory word!
THIS is what happens next Big Grin
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18-07-2013, 08:54 PM
RE: Detroit declares bankruptcy
The banking laws of chapter 9 are a little beyond me but I think Detroit will still exist as a city however they will be forced to restructure their loans to some degree and they will probably continue to drastically cut services. From what I understand they have already gone so far as relocating people to try and condense the city, because there are so many foreclosed/empty lots and I assume this trend will continue as more and more people leave town and public works, schools, etc. are shut down. I'm assuming they would sell off public land, they might even raise taxes on these poor people.

I'd imagine that the state of affairs will continue to drive people and businesses out of Detroit, that the foreclosed land around the city and in the burbs (most homes in Detroit are worth less than 20K at this point) will be bought, consolidated, leveled and then sold as farmland with the heart of Detroit remaining as a shadow of what it once was.

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18-07-2013, 09:01 PM
Photo RE: Detroit declares bankruptcy
I just saw an article about this on my newsfeed on Facebook Huh

Michigan, as a whole, is pretty awesome, America! I promise.

It's just sad because lots of people think of Michigan and then think of Detroit. Detroit reminds them of some things as a generalization of the state as a whole:

1) Apparently the football team here is, uh... not so good. (But we still have a great hockey and baseball team to make up for it!)

2) We have TWO cities that make the top ten list for "Most homicides each year" in the US. (When I find THAT article, I will share because I actually found it sadly interesting.) Oh... Found it pretty quick.

3) "Now they're bankrupt?! Michigan is broke." (But many of the cities are thriving and making a name for themselves.)

Sorry... It just literally hits close to home, ya know? (I read a bunch of comments on the story I originally saw and some were not so positive about the state as a whole.) Here's some reminders of what ELSE people could focus on, if they choose to look negatively at Michigan. (Bring in the tourists! That's something to help stabilize the economy, I like to think.)

This brings in so much tourism and it brings the community together and appreciate amazing artwork all over downtown.





And we're America's high five... Come on! Who doesn't like a high five once in awhile? Smile

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19-07-2013, 06:42 AM
RE: Detroit declares bankruptcy
(18-07-2013 08:20 PM)loganbeaupre Wrote:  Well, what happens next?

Well it'll mean the city will have a hard time getting loans and such in the future.
It'll have to take higher interest loans which means higher taxes for the populace or less services or the most likely outcome of a combination of the two.


The city wont cease to exist because it's Detroit. It has too much history, people will always reside there.

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25-07-2013, 02:24 PM
RE: Detroit declares bankruptcy
I was recently in Michigan, near Frankfort and Traverse City in northern Michigan. It is a great state although I admit I only go there because my brother lives in Ann Arbor (if you care I hate the Wolverines).

Detroit is a classic example of the benefits of capitalism. When the workers get united enough that you are paying them living wages and providing some money for their retirement, move elsewhere. The last time I was in Ann Arbor I went to the Motown Museum (a great place if you remember the 60's) the devastation of a city is apparent in the surrounds of that museum. Empty lots, buildings that are overgrown with vines, falling down buildings, it is very disturbing. The vacant factories, the empty businesses it is very much like much of Oakland, as much as I love O-Town.

It will and must come back, I hope soon.
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25-07-2013, 08:18 PM
RE: Detroit declares bankruptcy
Cities do not always come back.

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Ostia was the ancient port of Rome. As Rome declined so did Ostia until it was abandoned in the 9th century. Cities endure only if there is a need for them.
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25-07-2013, 08:53 PM
RE: Detroit declares bankruptcy
Has anyone mentioned amalgamation? Is that a thing in the US? When you're forcing a base of 700 000 to maintain the infrastructure used by 5 000 000 people, you're gonna have a bad time.

That's what the provincial government did here; sure, some people fucking hated it, but it did generally improve finances...

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