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Started By
Message
Detroit shakes up muni-bond fundamentals
Posted on 6/22/13 at 10:03 am
Posted on 6/22/13 at 10:03 am
quote:
Emergency Manager Kevyn Orr’s plan to suspend payments on $2 billion of Detroit’s debt threatens a basic tenet of the $3.7 trillion municipal market: that states and cities will raise taxes as high as needed to avoid default.
Ruh-Rho
What if there is no one left to tax?
Detroit recovery plan threatens Muni-Market Underpinnings
4
Posted on 6/22/13 at 11:28 am to TrueTiger
I don't know why anyone would live there.
Posted on 6/22/13 at 11:29 am to TrueTiger
On Coast to Coast radio this morning I heard an interview with Les Gold, the star of Hardcore Pawn, located in Detroit.
Les said that Detroit has become a major destination for tourists.
Really?
Les said that Detroit has become a major destination for tourists.
Really?
Posted on 6/22/13 at 11:44 am to wegotdatwood
quote:
What do they have there?
Ancient ruins?
Posted on 6/22/13 at 12:12 pm to wegotdatwood
quote:
What do they have there?
Guns, hookers and blow.
Posted on 6/22/13 at 1:24 pm to foshizzle
lots of empty factories,poor black people and sub $50,000 homes to see.
Eh Miguel Cabrera is on the brink of back to back triple crowns and calvin johnson is fun to watch
Eh Miguel Cabrera is on the brink of back to back triple crowns and calvin johnson is fun to watch
Posted on 6/22/13 at 9:51 pm to ThaBigFella
Detroit is fascinating. I remember going to a Detroit tigers game and while they have an amazing stadium it was wild to look into downtown and know that half of the buildings there were completely vacant.
Posted on 6/22/13 at 10:33 pm to cjared036
People are leaving some pretty amazing architecture behind.
It's sad and shocking to see.
It's sad and shocking to see.
Posted on 6/23/13 at 7:18 am to TrueTiger
A very serious consequence to this, IMO, is if local governments lose their ability (our it becomes too costly) to borrow money because of a trend like this, a HUGE amount of power will again be shifted upward toward Washington because that will be the only source of long term funding. That is very bad.
Posted on 6/23/13 at 8:03 am to TrueTiger
armpit of america.
Posted on 6/23/13 at 10:40 pm to skidry
quote:yep, Washington can print money to pay the bills, Detroit cannot
A very serious consequence to this, IMO, is if local governments lose their ability (our it becomes too costly) to borrow money because of a trend like this, a HUGE amount of power will again be shifted upward toward Washington because that will be the only source of long term funding. That is very bad.
Posted on 6/24/13 at 3:43 am to evil cockroach
There's a new sheriff in town, and he's even talking about cutting property taxes. He.Gets.It.
Decades from now, Detroit will be robust once again. There is some nice housing stock on the cheap, and it's geography is in a prime location.
Decades from now, Detroit will be robust once again. There is some nice housing stock on the cheap, and it's geography is in a prime location.
Posted on 6/24/13 at 8:19 am to Zach
quote:Everybody wants to see the biggest toilet in the world.
Detroit has become a major destination for tourists.
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