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In My Native City Of Detroit, Atlas Has At Long Last Shrugged
Forbes ^ | 07/24/2013 | Prof, Mark Hendrickson

Posted on 07/24/2013 7:22:46 AM PDT by SeekAndFind

I’m sad. Detroit is my native city. It’s decline from being arguably the world’s richest city to being America’s “first Third Word city” is tragic, politically criminal, and a warning to other Americans.

The official declaration of Detroit’s bankruptcy last week could not have come as a surprise to anyone familiar with the Motor City’s atrocious financial condition. The city had no hope of ever recovering from its colossal over-indebtedness, and without a central bank standing by to create fiat credit to augment its insufficient revenue—the scheme that is the only thing keeping the even more colossally over-indebted national government solvent—the only question was when someone would pull the plug.

Fiscally speaking, Detroit had been in the “walking dead” category for years. Last Thursday’s announcement by Detroit’s emergency manager, Kevyn Orr, finally acknowledged the inescapable facts.

Clearly, some Michiganders are still in denial and refuse to face those facts. Last Friday, Ingham County Circuit Judge Rosemarie Aquilina insisted that the Chapter 9 bankruptcy declaration be withdrawn, stating the Michigan constitution forbids any action that would decrease the pension benefits of public employees. In the first place, Judge Aquilina should read my article about will and abandon the delusion that a constitution can alter reality by making nonexistent funds magically appear; in the second, it is an unjust constitution that confers a protection on public employees that private-sector employees don’t have. A sounder constitution would have prohibited the city government from gaining control of employees’ retirement funds contributions and instead have mandated that those contributions all go into a private fund in the workers’ names where the city couldn’t touch them.

(Excerpt) Read more at forbes.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events; US: Michigan
KEYWORDS: atlasshrugged; bankruptcy; detroit
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To: luvbach1

Either the editor didn’t actually read the article, or he’s as big an idiot as the author. The error is like a big slap in the face the moment you start reading.


21 posted on 07/24/2013 7:37:19 AM PDT by dinodino
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To: dinodino

We read and reply to a lot of leftist crap on this site and to see people go nuts over a misplaced/misused apostrophe is quite something.


22 posted on 07/24/2013 7:39:40 AM PDT by GeronL
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To: dinodino

I agree with your post #21. Although the mistake can be forgiven as a momentary lapse, it never should have gotten into the article.


23 posted on 07/24/2013 7:39:57 AM PDT by luvbach1 (We are finished.)
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To: dinodino

I posted this article not for people like you to lecture us on your knowledge of punctuations, but for people to read the CONTENT of the article and comment about it.

If you want to stop reading this article because you can’t stand the mistake he made, please refrain from commenting.

I did not post this article to read about your abilities as a gramamr educator.


24 posted on 07/24/2013 7:40:55 AM PDT by SeekAndFind
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To: luvbach1

Over 20 posts in this thread little comment about Detroit. What do people want this thread to be, a discussion about apostrophes?


25 posted on 07/24/2013 7:43:21 AM PDT by SeekAndFind
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To: SeekAndFind

One thing for sure is you gotta like Jim Leland and those Tigers.


26 posted on 07/24/2013 7:44:35 AM PDT by onedoug
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To: onedoug

RE: One thing for sure is you gotta like Jim Leland and those Tigers.

Well, let’s hope the Tiger owners still have the money ...

And yeah, the two time champion, Pistons too... this team is down in the dumpsters.


27 posted on 07/24/2013 7:48:43 AM PDT by SeekAndFind
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To: SeekAndFind; dinodino

Consider your thread hijacked, SAF. DD, your criticism would be more productive if you directed it to the comments section following the Forbes article.


28 posted on 07/24/2013 7:50:18 AM PDT by shove_it (long ago Orwell and Rand warned us about 0bama's America)
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To: SeekAndFind

I’ve often sent in free lance articles to our local paper and they absolutely butchered the print copy. Not my fault...so in this case, we should go easy on grammatical errors.


29 posted on 07/24/2013 7:51:55 AM PDT by ThomasMore (Islam is the Whore of Babylon!)
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To: dinodino; Standing Wolf; SeekAndFind
Can I make a suggestion?

Bitching and hijacking this thread over an inconsequential typo accomplishes absolutely nothing. Except irritating those of us who came here to read the article. Why not be proactive and express your rage over this egregious error directly to Forbes?

Here's their contact page. I suspect you want "Corrections."

30 posted on 07/24/2013 7:53:07 AM PDT by upchuck (To the faceless, jack-booted government bureaucrat who just scanned this post: SCREW YOU!)
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To: onedoug

I sure hope Detroit doesn’t lose the Red Wings because of this bad government problem.

That would be a real shame.


31 posted on 07/24/2013 7:53:27 AM PDT by headsonpikes (Mass murder and cannibalism are the twin sacraments of socialism - "Who-whom?"-Lenin)
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To: The KG9 Kid
"you’d have to school me on apostrophes.

I learned in grade school that to use an apostrophe to indicate possession you placed the apostrophe after the word "worlds' richest city". Placing the apostrophe between the word and the s is a contraction of the word and "is". "The world's a mean place". I rarely see what I learned in grade school used any longer. Also spell checkers do not like that use either so I think I am out of date. I attended grade school back in the 50s and many of the things I learned no longer seem accepted practice.

32 posted on 07/24/2013 7:55:54 AM PDT by jpsb (Believe nothing until it has been offically denied)
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To: SeekAndFind

If he breaks wind we’re really in trouble.


33 posted on 07/24/2013 7:57:28 AM PDT by Mr Ramsbotham (Laws against sodomy are honored in the breech.)
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To: jpsb

Me too.


34 posted on 07/24/2013 7:59:26 AM PDT by shove_it (long ago Orwell and Rand warned us about 0bama's America)
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To: Rummyfan

Aquilina may be an idiot, I don’t know, but her order, issued about 15 minutes after the petition was filed in The U.S. Bankruptcy Court for the Eastern District of Michigan, was the perfect example of “home cookin’”. A ruling sure to be overturned or ignored, but crafted to get maximum sympathy among a local audience.


35 posted on 07/24/2013 8:02:48 AM PDT by Wally_Kalbacken
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To: shove_it

Great! I was afraid I might not be remembering my lessons properly.


36 posted on 07/24/2013 8:04:05 AM PDT by jpsb (Believe nothing until it has been offically denied)
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To: dinodino
Here is a photographic form apostrophe free comment. Hope it conveys the intended message.


37 posted on 07/24/2013 8:04:09 AM PDT by katana (Just my opinions)
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To: dinodino

That’s pedantic, particularly in light of the good grammar and syntax employed in the balance of the article.


38 posted on 07/24/2013 8:04:20 AM PDT by Mr Ramsbotham (Laws against sodomy are honored in the breech.)
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To: dinodino

Get over yourself. You may be smarter than the average bear but misuse of a ‘floating comma’ is par for the course.


39 posted on 07/24/2013 8:04:29 AM PDT by I am Richard Brandon
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To: SeekAndFind

Ah, great, a p$$ng match.


40 posted on 07/24/2013 8:05:48 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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