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Old 07-18-2013, 02:18 PM  
petegz28 petegz28 is offline
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Detroit files for Chapter 9 bankruptcy protection: local TV report

http://www.cnbc.com/id/100764427
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Old 07-18-2013, 09:33 PM   #46
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If you have some money invest in Detroit right now.


Buy when everyone is selling and sell when everyone else is buying. People are going to get rich when Detroit recovers.
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Old 07-18-2013, 09:41 PM   #47
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If you have some money invest in Detroit right now.


Buy when everyone is selling and sell when everyone else is buying. People are going to get rich when Detroit recovers.
That and there are local libertarians up there celebrating its bankruptcy—for good reasons.
They're even using spontaneously assembled law enforcement by the people in their communities that is private and it's working.

Quote:
...authorities are too incompetent to enforce anything, and everyone knows it. Everyone laughs or brags about it, which is even better.

http://detroitrusttoriches.blogspot.com/
Karen DeCoster, from Detroit, says her "blog will be about the uniqueness of the Detroit resurgence due to an inept and powerless local bureaucracy (government) that cannot possibly keep up with regulating the renaissance of entrepreneurial and community ventures. "
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Old 07-19-2013, 12:27 AM   #48
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Barack Obama ‏@BarackObama 17 Oct

President Obama: "When Gov. Romney said we should just let Detroit go bankrupt, we said thanks but no thanks." #MadeInAmerica
Think GM, Ford, Chrysler.. Not the municipality.
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Old 07-19-2013, 12:31 AM   #49
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errr...don't give a crap?
Ahh, I see. I made you look like a fool so now you don't care...


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Are you suggesting an intelligence test to have the right to vote? A wealth/means test?
Where in the hell did you come up with that? I wouldn't want to deprive the Dems of 98% of their constituency.

It does sound however like we need an intelligence test for attorneys...
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Old 07-19-2013, 04:19 AM   #50
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Unions and corruption. A great combo.
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Old 07-19-2013, 06:19 AM   #51
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Originally Posted by BucEyedPea View Post
That and there are local libertarians up there celebrating its bankruptcy—for good reasons.
They're even using spontaneously assembled law enforcement by the people in their communities that is private and it's working.

At a certain point, bankruptcy becomes a very good thing. It allows a chance to completely reorganize and be better going forward. Look at GM.

I have little doubt Detroit will come out of htis better off in the long run. That won't be true for everyone, however, including counterparties to current contracts (pensioners, etc.). Of course, Detroit also has serious issues that it needs to fix. It's not like the city's fiscal woes caused the collapse of the local economy -- it's the other way around.
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Old 07-19-2013, 06:21 AM   #52
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Originally Posted by mikey23545 View Post
Ahh, I see. I made you look like a fool so now you don't care...
Umm...right, that's it exactly.
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Old 07-19-2013, 08:15 AM   #53
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Old 07-19-2013, 09:15 AM   #54
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Originally Posted by Discuss Thrower View Post
Think GM, Ford, Chrysler.. Not the municipality.
Thank the unions, that forced GM, Ford, and Chrysler to do what they did. Sorry, but Unions are the death of America.
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Old 07-19-2013, 09:35 AM   #55
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I love the signs people are holding: "Hands off our pensions; make the banks pay" etc.

Complete ignorance. The pensions and other fixed benefits are a big part of the reason why the bankruptcy filing was necessary. The banks and other investors, including ordinary folks, in the city's debt instruments are going to get absolutely hammered.

Who the hell do they think is going to keep paying for all those pensions and other benefits?
The unions are the problem. At this point they are blatantly stealing from citizens and don't really care who knows. Rarely do we get a glimpse of Rome burning as the media hammers us with stupid divisive subjects that don't really effect most of us at all. We are dealing with a Bart strike out here where the average uneducated rude ass moron makes like 80k with full bennies and a pension and they want to strike? I was talking to an SF police officer a couple months back. He will retire after a career in the force at 55. His pension will be 300k annually. If he lives to be 85 that will cost us 9 million dollars for somebody who is doing nothing. The numbers are really insane and mind boggling. Here is an article that sheds some light on it. http://www.foxnews.com/opinion/2013/...nia-taxpayers/ As I have always said though, people will not care as long as there is still steak on the table. We would rather hang out and argue about whether two dudes relationships should be acknowledged or whether some kinda white dude defended himself or killed another guy. It's F N lame.
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Old 07-19-2013, 09:44 AM   #56
Loneiguana Loneiguana is offline
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Originally Posted by seaofred View Post
Thank the unions, that forced GM, Ford, and Chrysler to do what they did. Sorry, but Unions are the death of America.
Yes, it was the unions that forced management to make over sized, gas guzzling cars that no one wanted to buy. It was unions that forced companies to over saturate areas with car lots. It was unions that cause the recession.

Unions forced management, with a loaded gun, to sign the union agreements too. Union membership made all the big management decisions, as well.

Those highly paid, compensated executives, who are paid to make the correct decisions for the company, did nothing that could have contributed to the problem.
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Old 07-19-2013, 09:46 AM   #57
Loneiguana Loneiguana is offline
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The unions are the problem. At this point they are blatantly stealing from citizens and don't really care who knows. Rarely do we get a glimpse of Rome burning as the media hammers us with stupid divisive subjects that don't really effect most of us at all. We are dealing with a Bart strike out here where the average uneducated rude ass moron makes like 80k with full bennies and a pension and they want to strike? I was talking to an SF police officer a couple months back. He will retire after a career in the force at 55. His pension will be 300k annually. If he lives to be 85 that will cost us 9 million dollars for somebody who is doing nothing. The numbers are really insane and mind boggling. Here is an article that sheds some light on it. http://www.foxnews.com/opinion/2013/...nia-taxpayers/ As I have always said though, people will not care as long as there is still steak on the table. We would rather hang out and argue about whether two dudes relationships should be acknowledged or whether some kinda white dude defended himself or killed another guy. It's F N lame.
Conservative player hating continues.

I love that its okay to demonize a worker for finding a job that pays well and well allow someone to retire comfortable.

Instead of complaining, go out and get that job.
Or work within your job to make it better.

Only conservatives scream class warfare when someone mentions income inequality, but within the same breath, complain about regular Americans living well.
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Old 07-19-2013, 10:03 AM   #58
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Originally Posted by Loneiguana View Post
Conservative player hating continues.

I love that its okay to demonize a worker for finding a job that pays well and well allow someone to retire comfortable.

Instead of complaining, go out and get that job.
Or work within your job to make it better.

Only conservatives scream class warfare when someone mentions income inequality, but within the same breath, complain about regular Americans living well.
I have a great job that supports the system rather than stealing from it and employs workers who pay taxes. Call it a funny concept but I have always believed the public sector was there to serve the public not steal from it. They should certainly not make more money than they could pull down in the private sector. Unions for the public sector is ridiculous. What happened in Detroit is great. All those pensions right out the window. Unions are killing the greatest golden goose ever.
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Old 07-19-2013, 10:06 AM   #59
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Originally Posted by BIG_DADDY View Post
The unions are the problem. At this point they are blatantly stealing from citizens and don't really care who knows. Rarely do we get a glimpse of Rome burning as the media hammers us with stupid divisive subjects that don't really effect most of us at all. We are dealing with a Bart strike out here where the average uneducated rude ass moron makes like 80k with full bennies and a pension and they want to strike? I was talking to an SF police officer a couple months back. He will retire after a career in the force at 55. His pension will be 300k annually. If he lives to be 85 that will cost us 9 million dollars for somebody who is doing nothing. The numbers are really insane and mind boggling. Here is an article that sheds some light on it. http://www.foxnews.com/opinion/2013/...nia-taxpayers/ As I have always said though, people will not care as long as there is still steak on the table. We would rather hang out and argue about whether two dudes relationships should be acknowledged or whether some kinda white dude defended himself or killed another guy. It's F N lame.

Defined benefit pension plans have gone the way of the dodo in the private sector and need to be prohibited by federal law because they are the bane of all levels of government, the only place they continue to survive.

That said, your 300K guy was almost definitely lying to you. Pension for SF police (based on 10 seconds of Google research) is 90% of pay, so unless he's making like $330K per year now (and that's alot of details), then I don't see how he gets to $300K.

That said, SF cops start at $80K-$100K, which is serious cheese, so I have no doubt that sergeants/lieutenants/captains etc. get up to very serious bucks and that their pensions are unGodly.
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Old 07-19-2013, 10:18 AM   #60
BIG_DADDY BIG_DADDY is offline
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Defined benefit pension plans have gone the way of the dodo in the private sector and need to be prohibited by federal law because they are the bane of all levels of government, the only place they continue to survive.

That said, your 300K guy was almost definitely lying to you. Pension for SF police (based on 10 seconds of Google research) is 90% of pay, so unless he's making like $330K per year now (and that's alot of details), then I don't see how he gets to $300K.

That said, SF cops start at $80K-$100K, which is serious cheese, so I have no doubt that sergeants/lieutenants/captains etc. get up to very serious bucks and that their pensions are unGodly.
Yea well he is a lifer so I don't doubt he is telling the truth. Another trick state employees are allowed to do is retain vacation and sick time. They save it all and take it their last year so their pension is based upon that number. Just more criminal activity IMO. Yes we agree on pensions. They need to be eliminated, period.
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