[cripplecreek]

Things are fixin to get real interesting in Detroit.

Detroit emergency manager orders probe of city’s pension fund

http://www.detroitnews.com/article/20130620/METRO01/306200080

[Vigilanteman]

Would tha Canadians take it if we paid them enough?

Better yet, the ChiComs? We could do a 50 year lease on it for them to take it over as a S.A.R. like Hong Kong or Macau.

[NVDave]

I keep telling Republicans: Don’t try to save these places. Hold them up as an example of where DNC policies lead. Hang them around the necks of Democrats and demand that they explain how their policies “worked” to produce such a wreck.

This is sort of like opening a door for a feminist, getting yelled at, letting her have the door and then seeing her drop her stuff as she tries to deal with the door in the wind. There is no need to be gallant; there is only a need to come up with a pithy observation about how well her feminism just worked for her... and then walking away.

[Standing Wolf]

If you want to know where the progressive road to progress ends, come to Detroit.

No. Sorry. The self-styled "progressive" road ends with mass murder. Monumental failures such as Detroit are inevitable results of Marxist policies, but since 1917, mass murder has been the measure of Marxist dictators.

[NotYourAverageDhimmi]

The author is wrong. Detroit's demise is far more about it's demographic shift from white to black than it is about it's political shift from Republican to Democrat. Consider that there are many European cities with far more Liberal politics than Detroit that are far more solvent and far more safe in comparison. Likewise, American cities like Boston, Seattle, and San Fran are hotbeds of Democrat politics, but they are fine in comparison to Detroit. Now consider the state of any area with a majority black population and you will see the same pathologies as in Detroit -- high violence, high property crime, poor educational achievement, political corruption, and so on.

More on this point...

www.Auster.com

[Tenacious 1]

I thought I read somewhere that some of the accounting scams that have been running to make budgets look better involved having union pensions invest in each other (like moving credit card debt from one card to another).

I’m not sure if I understand that correctly. But from what I understand, the pension obligations will be severely written down for public unions and members will take huge hair cuts as benefits will be cut drastically.

For some pension plans that listed assets from investors that were also pensions, nobody will “owe” anybody anything and the formerly stated resources will have to be re-evaluated before bankruptcy will even begin to consider what to cut the obligations too.

Maybe a more informed FReeper can either set me straight or better explain just how bad the bankruptcy is going to hurt the government union workers in Detroit.

[dragonblustar]

It’s stunning how people could still vote democrat after years of miserable failure in Detroit. Even the white libs living in the burbs seem to over what party it was that took that city down the road to hell.

[By and By]

I recall LA bragging back in the 70s that they had the worlds 5th largest economy, if it was just a country. As I moved on I read it was LA and San Francisco combined, would make the top 10. Now California as a total State is making similar obnoxious claims. Point being, California is dying, like all rust belt Blue State abominations, dying.

[fwdude]

What kind of paper is the Boston Herald? I wouldn’t think anything from the Democrat Scheithole could be conservative enough to allow such an article.