Detroit Reaches

[scroteface]

...somebody didn't like my thread imho. Who's the lil pussy running around banning people because they can't take the 'bantz?

[Nbadan]

Censoring ain't cool...but neither is trolling about the minorities in Detroit...if you think it's true...prove it..

[scroteface]

the article was a serious one and made perfect sense, proved it pretty well imho

[Nbadan]

...blaming the poor is a popular myth, but often poverty is a symptom to a much larger problems not created by the poor...

For instance...bad trade deals and a reliance on horrific decision making by automakers....


Detroit isn’t just any old city — it happens to be the biggest population center in the state hit the hardest by the right’s corporate-written trade agenda. Indeed, according to the Economic Policy Institute, the state lost more jobs than any other from NAFTA (43,600, or 1 percent of its total job base) and lost another 79,500 jobs thanks to the China PNTR deal. And that’s just two of many such trade pacts. Add to this the city’s disproportionate reliance on American auto companies which made a series of horrific business decisions, and Detroit is a microcosmic cautionary tale about what happens when large corporations are allowed to write macro economic policy and dictate the economic future of an entire city.

If told, this cautionary tale would likely spark a discussion about revising current trade deals, regulations, public investment and industrial policy in general. That is, it would spark precisely the discussion that the conservative movement and the corporations that fund politicians don’t want America to have. So the right works to make sure that discussion is short circuited by a narrative that focuses the Detroit story primarily on taxes and public pensions.

http://www.salon.com/2013/07/23/dont_buy_the_right_wing_myth_about_detroit/

..the right blames state and municipal budget problems exclusively on public employees’ retirement benefits, often underfunding those public pensions for years. The money raided from those pension funds is then used to enact expensive tax cuts and corporate welfare programs. After years of robbing those pension funds to pay for such giveaways, a crisis inevitably hits, and workers’ pension benefits are blamed — and then slashed. Meanwhile, the massive tax cuts and corporate subsidies are preserved, because we are led to believe they had nothing to do with the crisis. Ultimately, the extra monies taken from retirees are then often plowed into even more tax cuts and more corporate subsidies...

[Nbadan]

Detroit spends more on corporate subsidies and tax loopholes than most states in the union


— $672 or $6.6 billion a year — more than most other states.


http://www.nytimes.com/interactive/2012/12/01/us/government-incentives.html#MI

but who gets the blame according to the right wing narrative?? the city retiree making 19K per year...

[Nbadan]

and in the mist of bankruptcy what is a Republican Governor to do?


Michigan Approves Bill That Cuts Corporate Taxes By $1.7 Billion, Raises Taxes On Low-Income Families

http://thinkprogress.org/economy/2011/05/13/173952/michigan-tax-cuts/?mobile=nc


he financially strapped City of Detroit must cut its income tax take by $8.5 million beginning July 1, effectively adding to a deficit that puts the city in peril of a takeover by a state-appointed emergency manager.

http://www.freep.com/article/20120125/NEWS06/201250387/Cash-strapped%20Detroit%20to%20lose%20$8.5M%20under%20s tate%20law%20requiring%20cut%20in%20income%20tax%2 0rate

..This is no Alex Jones, Glen Greenwald conspiracy, this is real.... but it's much easier to just blame the poor..

[boutons_deux]

macaca Jindal, as Repugs call them in VA, wanted to do the same in LA, cut coporate taxes while raising the sales tax. Amazingly, popular outcry stopped it. It will be back. Jindal knows fucking the 99% and enriching/protecting the 1% and corps are the main, actually only, planks in the Repug platform.

[boutons_deux]

...somebody didn't like my thread imho. Who's the lil pussy running around banning people because they can't take the 'bantz?

I read a bit of it. Among the worst shit ever posted in the politics forum, and very fitting it was posted by you.

[DUNCANownsKOBE]

macaca Jindal, as Repugs call them in VA, wanted to do the same in LA, cut coporate taxes while raising the sales tax. Amazingly, popular outcry stopped it. It will be back. Jindal knows fucking the 99% and enriching/protecting the 1% and corps are the main, actually only, planks in the Repug platform.
Jindal just needs to perform an exorcism on everyone who disagreed with it :lol

:lol one of the GOP's supposed "intellectuals" being an exorcist

[spursncowboys]

Detroit spends more on corporate subsidies and tax loopholes than most states in the union



http://www.nytimes.com/interactive/2012/12/01/us/government-incentives.html#MI

but who gets the blame according to the right wing narrative?? the city retiree making 19K per year...

the right wing narrative, from what I've seen, is liberals run amok for 60 years. I don't think anyone is blaming police and firemen pensions that every city has.

[spursncowboys]

Liberals had full control of Detroit long enough to show the fruits of their govt style. Now we see what happens. :toast

[pgardn]

So the right thing to do, for the folks on a higher moral plane, is to move to Detroit and become a productive member of that city so that you can help pay off the debt you had no part in creating.

So who is moving?

*cue cricket noises*

Hugo Chavez, the great distributor of wealth and board hero, is ashamed.

[CosmicCowboy]

Since Trill likes to make everything about race it's interesting to note that Detroit is 82.7% black.

[boutons_deux]

"82.7% black."

maybe now, but what about in the early 1950s when Detroit's decline began?

so the msg from you racists here is that Detroit's decline it 100% due to blacks?

[CosmicCowboy]

"82.7% black."

maybe now, but what about in the early 1950s when Detroit's decline began?

so the msg from you racists here is that Detroit's decline it 100% due to blacks?





:lmao

GFY shithead.

It was a simple statement of statistical fact.

[boutons_deux]

:lmao

GFY shithead.

It was a simple statement of statistical fact.

dishonestly take out of context, naturally, and totally out of the context of the 50-year history of Detroit's decline

CC is 100.000% racist, a simple statement of statistical fact.

[CosmicCowboy]

dishonestly take out of context, naturally, and totally out of the context of the 50-year history of Detroit's decline

CC is 100.000% racist, a simple statement of statistical fact.

I'm not a racist but Boutons is still a fucking idiot.

[boutons_deux]

and Richard Nixon was "not a crook"

Wall St was definitely in the mix, as with Jefferson Cty, AL:

Bad Derivatives Trades Added to Detroit’s Woes (http://www.nakedcapitalism.com/2013/07/bad-derivatives-trades-added-to-detroits-woes.html)Only now that the narrative around Detroit is pretty well established – city in long-term decline whose distress was intensified by a series of corrupt city governments, compounded by state governments that were opposed to Detroit’s interests – does an important additional factor come to light, that of derivatives losses.

While the bad derivatives bets were far from large enough to have changed the outcome (one commentator called the bankruptcy a “five-decade Katrina (http://www.washingtonpost.com/business/economy/as-detroit-teeters-on-bankruptcy-creditors-are-left-holding-the-bag/2013/07/09/349ceffe-d9c3-11e2-a9f2-42ee3912ae0e_story.html),”) it’s another example of how Wall Street wins, even on a relative basis, while little people lose.

Just as Jefferson County, which was faced with big payments (this for a massive sewer project) and got snookered by Big Finance in its efforts to minimize the costs of its funding. Detroit did JeffCo one better by first going the extend and pretend route by borrowing $1.4 billion in 2005 to address its pension shortfall. The piece de resistance was a series of derivatives done in connection with that financing.

The problem is that the most detailed account on this so far, from the Financial Times. leads me scratching my head as to how much the derivatives trades cost Motown. Here is the overview of the transactions (http://www.ft.com/intl/cms/s/0/50a4250e-f53f-11e2-b4f8-00144feabdc0.html#ixzz2aPumbGBe):


http://www.nakedcapitalism.com/2013/07/bad-derivatives-trades-added-to-detroits-woes.html

[TeyshaBlue]

dishonestly take out of context, naturally, and totally out of the context.

Enjoy the delicious sauce.

[boutons_deux]

Enjoy the delicious sauce.

I just KNEW TB :lol would jump in! dickless stalker!

[TeyshaBlue]

lol....you knew? Get a hobby or a girlfriend or something. You're starting to creep me out.


This is completely your MO.:lmao:lmao:lmao:lmao
"....dishonestly take out of context, naturally, and totally out of the context."

[George Gervin's Afro]

so are we now claiming mayors and city council's are directly responsible for the success or failure of big city economies? is that what you guys are claiming?

[CosmicCowboy]

so are we now claiming mayors and city council's are directly responsible for the success or failure of big city economies? is that what you guys are claiming?

I think if you compare/contrast Detroit and Pittsburg who had similar challenges (steel mills closed in Pittsburg) in the same time frame that is a reasonable conclusion. Pittsburg reinvented itself while Detroit just kicked the can down the road.

[AntiChrist]

lulz

http://www.detroitnews.com/article/20130729/METRO01/307290052/Craig-explain-arrests-Detroit-St-Clair-Shores-cops-today