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If You Want To See The Future Of America Just Look At Detroit
06-20-2013, 03:21 PM
Post: #16
RE: If You Want To See The Future Of America Just Look At Detroit
they are deliberately destroying the middle class.

they will keep a small remnant of the middle class to act as a buffer between the lower classes and the upper class.

babylonian slave driving. that's what they want.
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07-19-2013, 07:35 AM
Post: #17
RE: If You Want To See The Future Of America Just Look At Detroit
It is a good thing that when someone is banned, their threads do not disappear, lol.

http://www.detroitnews.com/article/20130...|FRONTPAGE

"The city of Detroit filed the largest municipal bankruptcy case in U.S. history Thursday afternoon, culminating a decades-long slide that transformed the nation’s iconic industrial town into a model of urban decline crippled by population loss, a dwindling tax base and financial problems.

A bankruptcy filing would come as an Ingham County judge is preparing Monday to hear arguments from retirees to block any attempt by Snyder to authorize a bankruptcy. A filing would produce an automatic stay of all pending litigation and would cap a month of intense talks between Orr’s team and creditors, which largely have failed to restructure as much as $20 billion in debt and long-term liabilities.

News of an imminent filing prompted lawyers for the city’s pension funds to request an emergency hearing this afternoon in Ingham County Circuit Court to block a bankruptcy authorization.

A Chapter 9 filing would leave the restructuring to Orr and a federal bankruptcy judge and could take years, experts say, despite hopes by the governor and Orr that the case can be wrapped up in a year. A bankruptcy judge could trump the state constitution by slashing retiree pensions, ripping up contracts and paying creditors roughly a dime on the dollar for unsecured claims worth $11.45 billion.

During a month of negotiations, Orr has reached a settlement with only two creditors: Bank of America Corp. and UBS AG. They have agreed to accept 75 cents on the dollar for approximately $340 million in swaps liabilities, according to a source familiar with the deal.

The bankruptcy plan is expected to closely follow Orr’s restructuring proposal that was unveiled to creditors on June 14 — a proposal that drew criticism from some creditors who said the cuts were too deep and did not include the sale of city assets, including Belle Isle and a Detroit Institute of Arts collection worth billions. He proposed paying most of the money owed to secured creditors while pension funds, unions and unsecured bondholders would receive, in some cases, 10 cents on the dollar.

The filing is expected to trigger a costly, long and precedent-setting battle by creditors and Detroit’s bankruptcy case could become a template for the treatment of pensions in the largely uncharted world of municipal bankruptcies.

Unsecured creditors could take the biggest hit in bankruptcy court. Orr wants them to share a $2 billion payout on approximately $11.5 billion worth of debt, which includes an estimated $9.2 billion in health and pension benefits and $530 million in general-obligation bonds.

Instead of paying creditors in full, Orr would use $1.25 billion over the next decade to buy police cars and fire trucks, replace broken street lights, tear down burned-out homes, fight blight and improve city services.

Orr wants to stabilize the city, woo new residents, provide essential city services for Detroiters, lower property taxes and transfer costly departments, including the water department to an outside group.

Once the nation’s fourth largest city, Detroit was hailed as an industrial hub with nearly 2 million people. Today, after a half-century of residential flight, high unemployment, a significant reduction in state funding, plummeting income and property taxes, corruption and chronic mismanagement, the bankruptcy filing solidifies the city's standing as a model of urban decline.

The filing would serve as a grim reminder of the bankruptcies that hit the auto industry four years ago. Unlike the cases of General Motors and Chrysler in 2009, the White House offered no financial help.

Snyder’s staff is making plans to explain the bankruptcy decision during appearances on Sunday morning talks shows, including Face the Nation and Meet the Press, according to one source.

A Chapter 9 petition could be filed by Detroit over the weekend. The first-day papers would be expected to explain why the city is eligible to file Chapter 9 bankruptcy, namely that Detroit is insolvent and that good-faith negotiations have failed to solve the financial problem.

The city would have to file a plan of adjustment that explains how the city would treat its debt and explain how Detroit would handle future tax revenue and spending. It’s possible, experts say, that Orr could elect to file his restructuring plan with the city’s initial Chapter 9 petition."
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07-19-2013, 07:54 AM (This post was last modified: 07-19-2013 07:57 AM by Hellfire Awaits.)
Post: #18
RE: If You Want To See The Future Of America Just Look At Detroit
Right after the George Zimmerman verdict, some asshole whitey libtard wrote an op-ed for salon.com titled "HOW WHITE PEOPLE KILLED DETROIT".

Within hours it was changed to "WHO KILLED DETROIT?" with the rest of the article unedited. And what was his solution? Merge Detroit's suburbs with the inner city so that Raheem and Shaquicka have direct access to the best schools, neighborhoods, and businesses.

You can't reason with these folks, you really can't, if I've learned anything from years of dealing with idiot libtards at UC Berkeley surely it is this.
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07-19-2013, 07:57 AM
Post: #19
RE: If You Want To See The Future Of America Just Look At Detroit
lmao @ these tribal chieftains:





Like a slice of Africa on the Great Lakes.

I feel so sorry for older black veterans who lived through the 50s and 60s, because they know exactly what happened to thriving black neighborhoods in the northern US once the sharecropper trash moved in next door.
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07-19-2013, 08:18 AM
Post: #20
RE: If You Want To See The Future Of America Just Look At Detroit
Great insights, HA.

pdf of bankruptcy filing:

http://www.freep.com/assets/freep/pdf/C4208687718.PDF

pdf of bankruptcy advisor's plan for creditors:

http://www.freep.com/assets/freep/pdf/C4206913614.PDF

http://www.freep.com/article/20130718/NE...oon-Friday

The City of Detroit filed this afternoon for Chapter 9 bankruptcy protection in federal court, laying the groundwork for a historic effort to bail out a major U.S. city that is sinking under billions of dollars in debt and decades of mismanagement, population flight and loss of tax revenue.

The filing begins a 30- to 90-day period that will determine whether the city is eligible for Chapter 9 protection and define how many claimants might compete for the limited settlement resources that Detroit has to offer. The bankruptcy petition would seek protection from creditors and unions who are renegotiating $18.5 billion in debt and other liabilities.

“The fiscal realities confronting Detroit have been ignored for too long. I’m making this tough decision so the people of Detroit will have the basic services they deserve and so we can start to put Detroit on a solid financial footing that will allow it to grow and prosper in the future,” said Gov. Rick Snyder. “This is a difficult step, but the only viable option to address a problem that has been six decades in the making.”

Gov. Rick Snyder signed off on the filing in a letter attached to court documents filed today in U.S. Bankruptcy Court in the Eastern District of Michigan. A spokeswoman for Snyder did not immediately return telephone calls today.

“It is clear that the financial emergency in Detroit cannot be successfully addressed outside of such a filing, and it is the only reasonable alternative that is available,” Snyder said in the letter granting his state-required approval. “In other words, the City’s financial emergency cannot be satisfactorily rectified in a reasonable period of time absent this filing.”

Snyder continued: “I have reached the conclusion that this step is necessary after a thorough review of all the available alternatives, and I authorize this necessary step as a last resort to return this great City to financial and civic health for its residents and taxpayers. This decision comes in the wake of 60 years of decline for the city, a period in which reality was often ignored.”

Detroit’s bankruptcy is by far the largest of its kind in U.S. history, in terms of the city’s population of about 700,000 and the amount of its debts and liabilities, which Orr has said could be as high as $20 billion. Because of the stakes involved, and the impact on residents statewide, as well as 30,000 current and retired city workers and Detroit’s ability to stay in business, the case could be precedent setting in the federal judiciary. It could also set an important trajectory for the way troubled cities nationwide settle their financial difficulties."
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07-19-2013, 08:25 AM (This post was last modified: 07-19-2013 08:26 AM by Hellfire Awaits.)
Post: #21
RE: If You Want To See The Future Of America Just Look At Detroit
Again, they want domesticated people to pay off their debts. Of course they don't have any tax revenue, the illiteracy rate in Detroit is 40%, which is even higher than some nations in Africa (ROFL!).

Nobody is interested in starting any businesses because Ray Ray and Hambone have no respect for public property, there's hardly any nightlife, and even the sports stadiums are in danger of shutting down -- for fuck's sake this used to be the cultural center of the American northwest, the crown jewel of Michigan, a prime candidate for the summer olympics and the heart of the American auto industry. ALL of those natural advantages and they still done fucked their shit up. Basically Detroit is Welfare City, USA.

Sooner or later they are going to have to sell their children into slavery to Chinese loan sharks to pay off their debts, which will be pretty hilarious. LITERALLY moving back 150 years in time. (It's not like anyone's going to notice, seeing as how all law enforcement in Detroit is defunct*.)

Fuck liberals.


*If you get stabbed in the middle of the street after 4 PM, nobody will even respond to your 911 call. Why it might be weeks before anyone notices your absence.
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07-19-2013, 08:34 AM
Post: #22
RE: If You Want To See The Future Of America Just Look At Detroit
is this thread what got him banned?
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07-19-2013, 08:48 AM
Post: #23
Re: RE: If You Want To See The Future Of America Just Look At Detroit
(07-19-2013 08:34 AM)Shahanshah Wrote:  is this thread what got him banned?

Nah. He was going crazy all over the place lol

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07-19-2013, 08:53 AM (This post was last modified: 07-19-2013 08:57 AM by Hellfire Awaits.)
Post: #24
RE: If You Want To See The Future Of America Just Look At Detroit
no, vutu got banned for antagonizing me and using racial slurs.

...

Say hello to Kwame Patrick, the so-called "hip hop mayor" of Detroit, now serving a 30-year sentence in federal prison:

[Image: oQlNKZC.jpg]

Proud achievements in office:

1) conspiring to murder a prostitute and exotic stripper named Tamara Greene

2) cheating on his woman with hundreds and HUNDREDS and skanks while in office, while leaving a paper trail wider than Gabourey Sidibe's ample ass cheeks

3) having an affair with a Detroit city employee (who was also married), and sending her over 14,000 text messages using a government phone

4) Laundering over $150,000 from the city treasure for the benefit of his wife.

5) hiring hundreds of unqualified friends and family members for government positions

6) assaulting a police officer in broad daylight

7) having a wild party with prostitutes at his mansion using government funds (and getting caught by his wife, who then started a giant fight worthy of worldstarhiphop.com)

8) almost singlehandedly destroying what little industry was left in detroit, thereby contributing to its bankruptcy

....

etc.

lol @ this professional minstrel and walking stereotype. couldn't keep his dick in his seersucker suit for longer than 10 minutes a time, did he seriously think his high crimes would never catch with to him eventually?

This is some 3rd world shit right here, typically you only see this sort of behavior in countries like Nigeria and Burkina Faso. He is (quite literally) a tribal chieftain.

LMAO this story just keeps getting more and more hilarious.
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07-19-2013, 09:02 AM (This post was last modified: 07-19-2013 09:02 AM by Hellfire Awaits.)
Post: #25
RE: If You Want To See The Future Of America Just Look At Detroit
The Detroit school board president is illiterate:





http://www.joannejacobs.com/2010/03/detr...ant-write/

Quote:Detroit school board leader can't write

MARCH 6, 2010 BY JOANNE
A product of Detroit Public Schools now leads the school board that’s trying to raise worst-in-the-nation literacy scores. Otis Mathis can’t write, reveals Detroit News columnist Laura Berman. The board president’s e-mails are notoriously garbled:

Do DPS control the Foundation or outside group? If an outside group control the foundation, then what is DPS Board row with selection of is director? Our we mixing DPS and None DPS row’s, and who is the watch dog?

In another e-mail:

If you saw Sunday’s Free Press that shown Robert Bobb the emergency financial manager for Detroit Public Schools, move Mark Twain to Boynton which have three times the number seats then students and was one of the reason’s he gave for closing school to many empty seats.

Mathis concedes, “I’m a horrible writer.” He was placed in special education in fourth grade and was “kicked out” of several high schools.

He graduated from Southwestern High School in 1973 with what he says was a 1.8 grade-point average [Ed: LMAO!!] but was previously reported as a .98 average. After serving in the Navy, Wayne State placed him in a special program to help academically unqualified students move forward, on the G.I. Bill.

He was unable to earn a degree because he couldn’t pass Wayne State’s English proficiency exam. Mathis sued unsuccessfully in 1992 to get the requirement dropped, saying repeated failure “made me feel stupid.” The requirement was abolished in 2007; Mathis collected his degree the next year.

Mathis told Berman he can read, but “sometimes needs to read documents two or three times to fully comprehend their contents.”

After working as a counselor at Wayne State, Mathis worked as a substitute teacher in Detroit schools, ran a nonprofit and served on the Wayne County Commission. He is liked by colleagues, who elected him board president on a 10-1 vote.

Mathis and some of his supporters say he’s a role model, showing that it’s possible to succeed despite limitations. He understands the problems, backers say.

Berman asks:

Is it absurd for a man who cannot write a simple English sentence to serve as the board president? Or to lead the elected board of a district that ranks at the nation’s bottom for literacy?

Yes, it is. Getting along well with others is a useful skill. Persistence is admirable. But Detroit students need to learn to read and write.
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07-19-2013, 09:05 AM
Post: #26
RE: If You Want To See The Future Of America Just Look At Detroit
While the city of Detroit faces bankruptcy, the Detroit library wastes $2.3 MILLION on worthless renovation schemes, including $1000 chairs and trash cans:


Quote:Critics: $2.3M Detroit library project a symbol of waste amid budget crisis

(From The Detroit News: http://www.detroitnews.com/article/20110...z2ZRQ7GE7k)

Detroit —Detroit Public Library officials say finances have grown so bad they could close most neighborhood branches, but in a few weeks plan to unveil a revamped wing of a main library that even administrators say spares few expenses.

The South Wing is stocked with 20 yellow and orange European lounge chairs that cost $1,092 apiece, artistic pendant light fixtures and two alcohol-burning fireplaces. The project morphed from a $300,000 furniture update to a $2.3 million overhaul with new floors, study rooms, lighting and built-in, wood-framed book shelves.

"$1,100 per chair is reckless spending for a public institution," said Todd Kelly, president of American Federation of State, County and Municipal Employees Local 1259, which represents 125 workers, including clerks, janitors and security staffers.

"It would be easier to swallow the current situation if we didn't see things like that."

It's not the only spending to come under question as the system considers closing up to 18 of 23 branches and laying off as many as 191 of 333 workers. A Detroit News review showed that, since 2008, the library has paid at least $160,000 to food vendors, including $1,760 at an ice-cream shop, and spent $1 million on 6 percent raises to union workers at a time counterparts in City Hall took 10 percent pay cuts.

Executive Director Jo Anne Mondowney agreed the South Wing renovation was costly and that too much has been spent on food. But she said she's only been on the job for about 19 months and isn't responsible for much of the spending.
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07-19-2013, 11:33 AM
Post: #27
RE: If You Want To See The Future Of America Just Look At Detroit
Zero Hedge all over this of course.

http://www.zerohedge.com/node/476583

http://www.zerohedge.com/news/2013-07-18...bankruptcy

"The current plan (for now rejected by creditors) means a 90% loss for muni-worker retirees, 81% loss for unsecured creditors, and a 75% loss for secured creditors. . ."

http://www.zerohedge.com/news/2013-07-18...its-bankru

"Inability to Meet Obligations to Its Citizens. As Mr. Orr's Financial and Operating Plan and the June 14 Creditor Proposal have noted, the scale and depth of Detroit's problems are unique. The City's unemployment rate has nearly tripled since 2000 and is more than double the national average. Detroit's homicide rate is at the highest level in nearly 40 years, and it has been named as one of the most dangerous cities in America for more than 20 years. Its citizens wait an average of 58 minutes for the police to respond to their calls, compared to a national average of 11 minutes. Only 8.7% of cases are solved, compared to a statewide average of 30.5%. The City's police cars, fire trucks, and ambulances are so old that breakdowns make it impossible to keep up the fleet or properly carry out their roles. For instance, only a third of the City's ambulances were in service in the first quarter of 2013. Similarly, approximately 40% of the City's street lights were not functioning in that quarter and the backlog of complaints is more than 3,300 long. Having large swaths of largely abandoned structures -- approximately 78,000 — creates additional public safety problems and reduces the quality of life in the City. Mr. Orr is correct that meeting the obligations the City has to its citizens to provide basic services requires more revenue devoted to services, not less."
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07-19-2013, 06:59 PM
Post: #28
RE: If You Want To See The Future Of America Just Look At Detroit
(07-19-2013 08:48 AM)Señor Penis Wrote:  
(07-19-2013 08:34 AM)Shahanshah Wrote:  is this thread what got him banned?

Nah. He was going crazy all over the place lol

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yeah. dude just went nuts.

Those who know, know! Big Grin
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07-19-2013, 07:01 PM
Post: #29
RE: If You Want To See The Future Of America Just Look At Detroit
(07-19-2013 08:53 AM)Hellfire Awaits Wrote:  no, vutu got banned for antagonizing me and using racial slurs.

...

Say hello to Kwame Patrick, the so-called "hip hop mayor" of Detroit, now serving a 30-year sentence in federal prison:

[Image: oQlNKZC.jpg]

Proud achievements in office:

1) conspiring to murder a prostitute and exotic stripper named Tamara Greene

2) cheating on his woman with hundreds and HUNDREDS and skanks while in office, while leaving a paper trail wider than Gabourey Sidibe's ample ass cheeks

3) having an affair with a Detroit city employee (who was also married), and sending her over 14,000 text messages using a government phone

4) Laundering over $150,000 from the city treasure for the benefit of his wife.

5) hiring hundreds of unqualified friends and family members for government positions

6) assaulting a police officer in broad daylight

7) having a wild party with prostitutes at his mansion using government funds (and getting caught by his wife, who then started a giant fight worthy of worldstarhiphop.com)

8) almost singlehandedly destroying what little industry was left in detroit, thereby contributing to its bankruptcy

....

etc.

lol @ this professional minstrel and walking stereotype. couldn't keep his dick in his seersucker suit for longer than 10 minutes a time, did he seriously think his high crimes would never catch with to him eventually?

This is some 3rd world shit right here, typically you only see this sort of behavior in countries like Nigeria and Burkina Faso. He is (quite literally) a tribal chieftain.

LMAO this story just keeps getting more and more hilarious.

OMG.

lol @ the name "Kwame"

Those who know, know! Big Grin
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07-20-2013, 04:02 AM
Post: #30
RE: If You Want To See The Future Of America Just Look At Detroit
If Obama had a city, it would look just like Detriot.
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