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Tag Archives: Detroit
by Michael Snyder Is Detroit destined to become a Chinese city? Chinese homebuyers and Chinese businesses are starting to flood into the Motor City, and the governor of Michigan is greatly encouraging this. In fact, he has formally asked the … Continue reading
The adage about cutting off your nose to spite your face is alive and well in Detroit. Years of greed and corruption have now come home to roost. Will the pResident bail them out? We may have to wait to see … Continue reading
“In the space of a single generation, Detroit managed to ruin itself,” is how Kevin D. Williamson opens What Doomed Detroit, his incisive look at the forces that led to the Motor City’s downfall. The book, a volume of Encounter Broadside, is … Continue reading
Detroit’s labor unions want their fair share from the bankrupt city of Detroit: an extra month’s pension check every year. This policy of redistributing people’s wealth started in 1985 and was stopped in 2008 after costing taxpayers an additional $1.92 … Continue reading
Syria has served its purpose for pResident Obama. The IRS Tea Party scandal, Benghazi, America’s bankrupt cities, the federal budget, the debt ceiling, Fast & Furious, Obamacare implementation and immigration reform are not in the headlines of our news media. … Continue reading
Economist and Boston University Professor Laurence Kotlikoff calculates that to fully eliminate the shortfall in Social Security funding, the government would need to either cut all present and future social security benefits by 22%, or increase the Federal Insurance Contributions … Continue reading
As Detroit enters the federal bankruptcy process, the city is proposing a controversial plan for paring some of the $5.7 billion it owes in retiree health costs: pushing many of those too young to qualify for Medicare out of city-run … Continue reading
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 … Continue reading
Foreshadowing or adumbrating is a literary device in which an author gives hints of certain plot developments that will come later in the story. The news story of the hour is the Detroit bankruptcy. The pundits are pointing fingers and wondering how this could have happened. The consequences of the … Continue reading
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 … Continue reading
Detroit will immediately stop payments on about $2 billion in debt, the city’s emergency manager announced Friday, an effort to conserve cash. The manager, Kevyn Orr, also said Detroit will need to cut pay and pension and health benefits for … Continue reading
From YouTube: It was once the capital of the world’s auto industry, but Detroit now faces imminent bankruptcy, according to its Emergency Fiscal Manager. How did Detroit go from America’s industrial crown to an industrial dumpster?
Detroit Mayor Dave Bing says he spoke by phone with Michigan Governor Rick Snyder today. He says the governor will announce his decision regarding the possible appointment of an Emergency Financial Manager for the city of Detroit on Friday. The mayor … Continue reading