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Old 07-22-2013, 09:38 AM  
mikey23545 mikey23545 is offline
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25 Facts About The Fall Of Detroit That Will Leave You Shaking Your Head

It is so sad to watch one of America's greatest cities die a horrible death. Once upon a time, the city of Detroit was a teeming metropolis of 1.8 million people and it had the highest per capita income in the United States. Now it is a rotting, decaying hellhole of about 700,000 people that the rest of the world makes jokes about. On Thursday, we learned that the decision had been made for the city of Detroit to formally file for Chapter 9 bankruptcy. It was going to be the largest municipal bankruptcy in the history of the United States by far, but on Friday it was stopped at least temporarily by an Ingham County judge. She ruled that Detroit's bankruptcy filing violates the Michigan Constitution because it would result in reduced pension payments for retired workers. She also stated that Detroit's bankruptcy filing was "also not honoring the (United States) president, who took (Detroit’s auto companies) out of bankruptcy", and she ordered that a copy of her judgment be sent to Barack Obama. How "honoring the president" has anything to do with the bankruptcy of Detroit is a bit of a mystery, but what that judge has done is ensured that there will be months of legal wrangling ahead over Detroit's money woes. It will be very interesting to see how all of this plays out. But one thing is for sure - the city of Detroit is flat broke. One of the greatest cities in the history of the world is just a shell of its former self. The following are 25 facts about the fall of Detroit that will leave you shaking your head...

1) At this point, the city of Detroit owes money to more than 100,000 creditors.

2) Detroit is facing $20 billion in debt and unfunded liabilities. That breaks down to more than $25,000 per resident.

3) Back in 1960, the city of Detroit actually had the highest per-capita income in the entire nation.

4) In 1950, there were about 296,000 manufacturing jobs in Detroit. Today, there are less than 27,000.

5) Between December 2000 and December 2010, 48 percent of the manufacturing jobs in the state of Michigan were lost.

6) There are lots of houses available for sale in Detroit right now for $500 or less.

7) At this point, there are approximately 78,000 abandoned homes in the city.

8) About one-third of Detroit's 140 square miles is either vacant or derelict.

9) An astounding 47 percent of the residents of the city of Detroit are functionally illiterate.

10) Less than half of the residents of Detroit over the age of 16 are working at this point.

11) If you can believe it, 60 percent of all children in the city of Detroit are living in poverty.

12) Detroit was once the fourth-largest city in the United States, but over the past 60 years the population of Detroit has fallen by 63 percent.

13) The city of Detroit is now very heavily dependent on the tax revenue it pulls in from the casinos in the city. Right now, Detroit is bringing in about 11 million dollars a month in tax revenue from the casinos.

14) There are 70 "Superfund" hazardous waste sites in Detroit.

15) 40 percent of the street lights do not work.

16) Only about a third of the ambulances are running.

17) Some ambulances in the city of Detroit have been used for so long that they have more than 250,000 miles on them.

18) Two-thirds of the parks in the city of Detroit have been permanently closed down since 2008.

19) The size of the police force in Detroit has been cut by about 40 percent over the past decade.

20) When you call the police in Detroit, it takes them an average of 58 minutes to respond.

21) Due to budget cutbacks, most police stations in Detroit are now closed to the public for 16 hours a day.

22) The violent crime rate in Detroit is five times higher than the national average.

23) The murder rate in Detroit is 11 times higher than it is in New York City.

24) Today, police solve less than 10 percent of the crimes that are committed in Detroit.

25) Crime has gotten so bad in Detroit that even the police are telling people to "enter Detroit at your own risk".

It is easy to point fingers and mock Detroit, but the truth is that the rest of America is going down the exact same path that Detroit has gone down.

Detroit just got there first.

All over this country, there are hundreds of state and local governments that are also on the verge of financial ruin...

"Everyone will say, 'Oh well, it's Detroit. I thought it was already in bankruptcy,' " said Michigan State University economist Eric Scorsone. "But Detroit is not unique. It's the same in Chicago and New York and San Diego and San Jose. It's a lot of major cities in this country. They may not be as extreme as Detroit, but a lot of them face the same problems."

A while back, Meredith Whitney was highly criticized for predicting that there would be a huge wave of municipal defaults in this country. When it didn't happen, the critics let her have it mercilessly.

But Meredith Whitney was not wrong.

She was just early.

Detroit is only just the beginning. When the next major financial crisis strikes, we are going to see a wave of municipal bankruptcies unlike anything we have ever seen before.

And of course the biggest debt problem of all in this country is the U.S. government. We are going to pay a great price for piling up nearly 17 trillion dollars of debt and over 200 trillion dollars of unfunded liabilities.

All over the nation, our economic infrastructure is being gutted, debt levels are exploding and poverty is spreading. We are consuming far more wealth than we are producing, and our share of global GDP has been declining dramatically.

We have been living way above our means for so long that we think it is "normal", but an extremely painful "adjustment" is coming and most Americans are not going to know how to handle it.

So don't laugh at Detroit. The economic pain that Detroit is experiencing will be coming to your area of the country soon enough.

http://www.freerepublic.com/focus/f-news/3045767/posts




How is this not an article about some third world country?

Meet Detroit, flagship of unions, liberalism, and Obama voters.
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Old 07-23-2013, 08:17 PM   #76
InChiefsHell InChiefsHell is offline
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I agree, Detroit couldn't (or rather wouldn't) adapt...but who was in charge of leadership there for the last 50 years? Was it a more progressive mindset or a conservative mindset?

Fine, it's not all the Democrat's fault...but damn, when you are in charge of the total decay of a once proud jewel in America's crown...at some point you have to bear some responsibility right?

Or was it all Bush's fault?
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Old 07-23-2013, 08:24 PM   #77
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Quote:
Originally Posted by InChiefsHell View Post
I agree, Detroit couldn't (or rather wouldn't) adapt...but who was in charge of leadership there for the last 50 years? Was it a more progressive mindset or a conservative mindset?

Fine, it's not all the Democrat's fault...but damn, when you are in charge of the total decay of a once proud jewel in America's crown...at some point you have to bear some responsibility right?

Or was it all Bush's fault?
The various mayors weren't running the auto companies that were the lifeblood of the city.
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Old 07-23-2013, 08:36 PM   #78
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Its all Suh's fault. Ever since they drafted him out of Nebraska the city went to shit
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Old 07-23-2013, 09:36 PM   #79
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Originally Posted by cosmo20002 View Post
The various mayors weren't running the auto companies that were the lifeblood of the city.
That's true, however the leadership did nothing to solve their problems. Many cities like Pittsburgh who were so reliant on one industry adapted to the loss of their bread and butter and diversified to other means.

The auto industry moved out to save money and remain relevant in the face of the imports. The political leaders and union bosses in Detroit locked themselves in a battle to the death for as much power as they could grab. They killed the city in doing so.
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Old 07-23-2013, 09:49 PM   #80
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Quote:
Originally Posted by cosmo20002 View Post
The various mayors weren't running the auto companies that were the lifeblood of the city.
No, they just made the laws that when foreign companies looked at producing their cars in the US decided it was more cost effective to build their factories elsewhere.

Think about it, the place in the US that has the most experienced autoworkers was not chosen by companies want to make automobiles because dealing with the forced union contracts was more expensive than training totally new workers.
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Old 07-23-2013, 10:37 PM   #81
cosmo20002 cosmo20002 is offline
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Originally Posted by GloucesterChief View Post
No, they just made the laws that when foreign companies looked at producing their cars in the US decided it was more cost effective to build their factories elsewhere.

Think about it, the place in the US that has the most experienced autoworkers was not chosen by companies want to make automobiles because dealing with the forced union contracts was more expensive than training totally new workers.
The mayors of Detroit did that? Come on...
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Old 07-24-2013, 06:05 AM   #82
InChiefsHell InChiefsHell is offline
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Originally Posted by cosmo20002 View Post
The various mayors weren't running the auto companies that were the lifeblood of the city.
So the answer to my question is no, you don't have to take any responsibility for when the city you are running falls to ruins. You can just blame...industry.

You really dig you some Obama don't you?
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Old 07-24-2013, 06:15 AM   #83
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Old 07-24-2013, 06:19 AM   #84
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A lot of people date the beginning of Detroit's decline to the race riot in 1967.
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Old 07-24-2013, 06:24 AM   #85
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It's not all on the mayors and city councils, but after decades of disaster you'd think they might try a different method at some point.
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Old 07-24-2013, 07:01 AM   #86
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And Pittsburgh's got Ketchup. Really good Ketchup.
At one point (50s, I think) Pittsburgh had the 2nd most Fortune 500 companies headquartered there, after only NYC. Alcoa, U.S. Steel (USX), PPG, Heinz, Gulf Oil, Westinghouse, the list went on and on.
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Old 07-24-2013, 07:02 AM   #87
Amnorix Amnorix is offline
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Living in his little box? Isn't that what you are doing here with your deflections and excuses for your party/ideology? If this was only Detroit we are talking about going bankrupt, then you might have a point but the problem is systemic throughout the country. Much of it, like Comrade Crapski pointed out, have been where democrat-run statist liberalism has run rampant. There are many cities/municipalities/states that have already gone bankrupt or on the verge of bankruptcy much of it is the failure of your party/ideology.

If you want to stay in your little box and deflect and make excuses, fine, what is going to be your excuse when the 17 Trillion chickens, much of it caused by the rise of statism in this country, come home to roost?

TGI
I've said before, many times, that fixed benefit pensions need to be just outright prohibited. Cities are going to struggle with them until they are ditched.
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Old 07-24-2013, 07:34 AM   #88
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Obama is the penultimate Moonbat.

He doubles down on failure constantly.

For example, the stimulus didn't fail. He just didn't spend enough.
If Obama is the penultimate moonbat, does that mean Loneiguana is number one?
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Old 07-24-2013, 07:36 AM   #89
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Old 07-24-2013, 07:41 AM   #90
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Originally Posted by 2bikemike View Post
That's true, however the leadership did nothing to solve their problems. Many cities like Pittsburgh who were so reliant on one industry adapted to the loss of their bread and butter and diversified to other means.

The auto industry moved out to save money and remain relevant in the face of the imports. The political leaders and union bosses in Detroit locked themselves in a battle to the death for as much power as they could grab. They killed the city in doing so.
That is so true! The statement reminds me a book that I once read: Who moves my cheese?
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