Detroit files for Chapter 9 bankruptcy - Page 3 - TigerDroppings.com

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thedogman
New Orleans Saints Fan
Member since Dec 2008
1475 posts

re: Detroit files for Chapter 9 bankruptcy


They have houses going for dirt cheap, literally. You have to think one day this will turn around. I'm being completely serious, why not buy near downtown and hold onto it. shite if you pay $1000 for a property and taxes after 10 years you are out less than $2000 and surely prices will go back up. Somebody tell me what I am missing





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cwill
New Orleans Saints Fan
Member since Jan 2005
23881 posts

re: Detroit files for Chapter 9 bankruptcy


Municipal bonds are such safe, secure investments.





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Wally Sparks
USA Fan
Atlanta
Member since Feb 2013
7094 posts

re: Detroit files for Chapter 9 bankruptcy


Coleman Young's been dead for over 15 years and he's the gift that keeps on giving.





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coolpapaboze
Penn Fan
Parts Unknown
Member since Dec 2006
7759 posts

re: Detroit files for Chapter 9 bankruptcy


quote:

or what if the state/city just decides not to pay? Detroit's pension problem is in a large part because the didn't fund it.
Right, they used the money to essentially buy votes.






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DaphneTigah
USA Fan
Flying under the radar.
Member since Dec 2007
4433 posts

re: Detroit files for Chapter 9 bankruptcy


quote:

Gut it all... Bulldoze the city... Make it an amusement park


A bit harsh, no?

Remember, the same was being said about NOLA after Katrina when 80% of the Country thought it was insane to rebuild a City that is below sea level.

The good people of Detroit are feeling the wrath of the policies that defy economics of today.

God be with them






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TigerintheNO
LSU Fan
New Orleans
Member since Jan 2004
22527 posts

re: Detroit files for Chapter 9 bankruptcy


At the end of the month do you think Detroit's firefighters, EMTs, and cops are going to have 8% of their paycheck taken to fund their pension plans?





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ItNeverRains
LSU Fan
Franklin, TN
Member since Oct 2007
6129 posts

re: Detroit files for Chapter 9 bankruptcy


quote:

They have houses going for dirt cheap, literally. You have to think one day this will turn around. I'm being completely serious, why not buy near downtown and hold onto it. shite if you pay $1000 for a property and taxes after 10 years you are out less than $2000 and surely prices will go back up. Somebody tell me what I am missing


Don't trust crooks. They can raise property taxes and assess the value to where you're paying out the arse for nothing, then you walk and smash your credit.

Don't trust crooks






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deltaland
Mississippi St. Fan
Member since Mar 2011
22715 posts

re: Detroit files for Chapter 9 bankruptcy


quote:

No, but the biggest by far, and from prosperity it had not long ago.


Just shows what liberal policies will do to even a once powerful machine like Detroit. THere is no reason Detroit should have ever fallen this far. That city was the center of American manufacturing and jobs and full of money.

Now it's a crime ridden shithole that's bankrupt and the only thing holding it somewhat together is GM, Chrysler and Ford. And they aren't doing all to hot either






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Scoop
LSU Fan
Ecuador
Member since Sep 2005
27166 posts

re: Detroit files for Chapter 9 bankruptcy








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Govt Tide
Member since Nov 2009
6850 posts

re: Detroit files for Chapter 9 bankruptcy


quote:

Now it's a crime ridden shithole that's bankrupt and the only thing holding it somewhat together is GM, Chrysler and Ford. And they aren't doing all to hot either


I hate to see this happen to any city regardless of how stupid the leaders are that caused it. Having said that, the timing of this is fantastic for Southern automotive plants and Southern states trying to fight off the UAW. An officially bankrupt Detroit CAN'T be helpful to their big upcoming push to unionize foreign automotive plants in the South.






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EST
LSU Fan
Investigating
Member since Oct 2003
14347 posts

re: Detroit files for Chapter 9 bankruptcy


Bankruptcy is racism.





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LSUnowhas2
LSU Fan
Baton Rouge
Member since Sep 2004
21818 posts

re: Detroit files for Chapter 9 bankruptcy


T
quote:

hey really should just bulldoze a majority of the city and get everyone to live in a more centralized location. It is too large for its population size.


The state of urban decay in Detroit is truly fascinating though. I love this website:

Detroit Urban Exploration






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Wally Sparks
USA Fan
Atlanta
Member since Feb 2013
7094 posts

re: Detroit files for Chapter 9 bankruptcy


The comments on the New York Times story are hysterical, they're blaming capitalism/GOP not wanting to bail out the city (surprise surprise)





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CptBengal
USA Fan
BR Baby
Member since Dec 2007
37531 posts

re: Detroit files for Chapter 9 bankruptcy


quote:

they're blaming capitalism/GOP not wanting to bail out the city


a bailout in capitalism would imply an ROI...not just burning cash.






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Malik Agar
USA Fan
Member since Nov 2012
606 posts

re: Detroit files for Chapter 9 bankruptcy


First Detroit, next America!





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Quentin Compson
LSU Fan
Member since Jun 2013
3117 posts

re: Detroit files for Chapter 9 bankruptcy


From NYT comments:

quote:

Detroit has no tax base left.

Let this be a lesson to anyone who thinks paying less taxes is the solution to economic woes.






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TrueTiger
LSU Fan
Chicken's most valuable
Member since Sep 2004
9945 posts

re: Detroit files for Chapter 9 bankruptcy


quote:

they're blaming capitalism/GOP not wanting to bail out the city

Why should anyone do that?


When you subsidize failure,

you only get more failure.






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Fat Bastard
New Orleans Saints Fan
Paradise
Member since Mar 2009
15627 posts

re: Detroit files for Chapter 9 bankruptcy


armpit of america





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Scoop
LSU Fan
Ecuador
Member since Sep 2005
27166 posts

re: Detroit files for Chapter 9 bankruptcy


Clint Eastwood's Super Bowl pep talk was for shite.





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Scoop
LSU Fan
Ecuador
Member since Sep 2005
27166 posts

re: Detroit files for Chapter 9 bankruptcy


What is sad is that most people in America are not smart enough to figure out what happened here and will take their spoonfed spin like good little robots.

Detroit is the canary.






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