Haunting description of Detroit from Ayn Rand

Quote from Ricter:

The money is being spent today on approved projects.
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Let's get this straight. Detroit is bankrupt. Detroit is broke. Where is the money coming from for these "approved projects"? What bank in their right mind would lend money for a public project in Detroit? The city is incapable of floating new bonds on the bond market. What private entity would consider development in Detroit? (the answer is none).

Expecting some type of revival by 2033 is a very bad bet to take.

Detroit has a tremendous fiscal problem to sort out before they can even move forward in the slightest. The first problem to solve is "how to bull-doze over 50% of the city which is vacant and return services to the remainder of the city".
 
Quote from gwb-trading:

Let's get this straight. Detroit is bankrupt. Detroit is broke. Where is the money coming from for these "approved projects"? What bank in their right mind would lend money for a public project in Detroit? The city is incapable of floating new bonds on the bond market. What private entity would consider development in Detroit? (the answer is none).

Expecting some type of revival by 2033 is a very bad bet to take.

Detroit has a tremendous fiscal problem to sort out before they can even move forward in the slightest. The first problem to solve is "how to bull-doze over 50% of the city which is vacant and return services to the remainder of the city".
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The second project mentioned in the article, "energy company DTE", is funded, presumably, by selling energy products.

How 'bout that!
 
Quote from Ricter:

The second project mentioned in the article, "energy company DTE", is funded, presumably, by selling energy products.

How 'bout that!
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As evidenced in the link from your own article link - "There aren't many details about Mini Campus Martius quite yet -- we get the feeling the design plans have not solidified beyond tearing down two small buildings on the property. We'll have to gaze at the rendering for now. DTE sees the park as a place where nearby office workers (which are mostly theirs) can gather and lunch."

All of these items are proposals without funding, without completion dates, and nearly all of them have been on hold for years. In other words... they are all dreams. No more relevant that the nightly illusions in the mind of a homeless bum sleeping on a bench in downtown Detroit.
 
Quote from Maverick74:

Ricter, sweetheart, listen to me carefully. Without real jobs, it's nothing but a facade. A movie set if you will. Just something pretty on the surface. If there is no real job growth underneath, all the money spent on these "projects" will be wasted. I'm sorry, but that is the truth.
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And why there is no growth? Is it because the cost of rent in the US is high compared to say China? Is that what the market wanted to correct? Aren't your republicans living on rent? Would they allow a correction?
 
Quote from gwb-trading:

As evidenced in the link from your own article link - "There aren't many details about Mini Campus Martius quite yet -- we get the feeling the design plans have not solidified beyond tearing down two small buildings on the property. We'll have to gaze at the rendering for now. DTE sees the park as a place where nearby office workers (which are mostly theirs) can gather and lunch."

All of these items are proposals without funding, without completion dates, and nearly all of them have been on hold for years. In other words... they are all dreams. No more relevant that the nightly illusions in the mind of a homeless bum sleeping on a bench in downtown Detroit.
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Ricter is punch drunk from all of the leftist spin that has been debunked over the past few years.

I've yet to find a more dishonest person on these messageboards (of course, many of his now departed leftist buddies would make it competitive).
 
Quote from tradingjournals:

And why there is no growth? Is it because the cost of rent in the US is high compared to say China? Is that what the market wanted to correct? Aren't your republicans living on rent? Would they allow a correction?
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Nice collection of incoherent thoughts.

I agree that rent AND the "cost of doing business" is far too high, especially relative to consumer demand and global competitiveness. Make no mistake, however, Dems and Repub's both desperately wanted to reflate the asset bubble. I used to joke in 2009 that they would have given their left arm's (collectively) to "re-set" the Dow back to 2007 high's.

I think that many of them are "perplexed" that all time high's has done nothing to increase their popularity. They continue to borrow from the same playbook that held forth that pumping asset prices higher and higher would be a net positive for the economy.

They probably missed the chapter about the inflationary side-effects (in essentials) and the crimp on spending (non-essentials).

What you are in favor of (as are many others not blinded by the D's and the R's) is a healthy mean-reversion...alas, we've been bombarded with years of deflationary scare tactics to try and drive that idea from our collective minds.
 
I bet we could raise enough money right here on ET to buy ricter a house right there if we could be sure he'd live there 24x7. And just think of the great growth potential he'd get as Detroit revived from disease ridden filth to epic growth engine of the 21rst century! How could he refuse?

Shit, if I believed it, I'd take this deal. I'd stock up on ammo and weapons like I was Snake Blitzken squared, but I'd do it. Provided I had some time for a few classes, that is.

Whataya say, ricter? Wanna move?
 
Quote from TGregg:

I bet we could raise enough money right here on ET to buy ricter a house right there if we could be sure he'd live there 24x7. And just think of the great growth potential he'd get as Detroit revived from disease ridden filth to epic growth engine of the 21rst century! How could he refuse?

Shit, if I believed it, I'd take this deal. I'd stock up on ammo and weapons like I was Snake Blitzken squared, but I'd do it. Provided I had some time for a few classes, that is.

Whataya say, ricter? Wanna move?
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Ricter epitomizes the "do as I say, not as I do" crowd.
 
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