Detroit - bust

zdreg · Jul 22, 2013

Quote from peilthetraveler:

Detroit isnt a capitalist city. Its a socialist.

he is asking whether this is the beginning of a socialist onslaught. bankrupt cities like Detroit are the tip of the iceberg including many much smaller cities.

don't forget argentina central government bailed out the provinces(in the US-states) causing the financial collapse of the entire country.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=204524&highlight=argentina

we shall soon see obama's true colors for those who don't know already.

Stok · Jul 22, 2013

This is a learning lesson. Heavily democratic/liberal/socialists (they are all the same) cities and states have the worst stats in the nation. Highest crime, highest taxes, highest poverty, and most importantly are broke and will collapse. The whole model of the democrats is to buy votes, to give the elitist total power. Besides buying votes, they race bait, play class warfare and circle jerk with the unions (this is a big reason cities/states are bankrupt....lavish union contracts in exchange for votes).

Now look who is in D.C.? And who will leave the office with $20T+ in debt, race baiting, class warfare, massive socialism programs expanded (obamacare, food stamps, etc), pushing for gun control and pushing for higher taxes.

SMH!!! Thank God I live in Texas for the time being!

maxpi · Jul 22, 2013

Detroit is the new normal.

Covertibility · Jul 23, 2013

Detroit, the New Greece

Booo! He's not blaming Liberal Greedâ¢, Those Peopleâ¢, or pensions.

TGregg · Jul 23, 2013

Detroit is so bankrupt, Nigerian scammers are giving them money.

Seriously though, they'll never fix their problems with all these people offering up plenty of excuses for them. They'll keep on doing the stooopid things that keep them down.

Humpy · Jul 23, 2013

Perhaps they will find oil ?

TGregg · Jul 23, 2013

jem · Jul 23, 2013

that is so funny and so sad at the same time.

that section about
a place run by democrats and the UAW since 1961... where a republican scapegoat is nowhere in sight.

priceless.

Quote from TGregg:

<iframe width="560" height="315" src="//www.youtube.com/embed/l4ZQooPHHAA" frameborder="0" allowfullscreen></iframe>

nutmeg · Jul 23, 2013

http://www.shinola.com/

Derrick1983 · Jul 24, 2013

US municipal bondholders should be cautious with this. Detroit isnât the only US city that is struggling significantly financially. We could see other cities taking this route to avoid paying pensions and other benefits.