Detroit goes bust

[DVTimes]

http://www.bbc.co.uk/news/world-us-canada-23369573

Mabe the comunist system would be better?

[nexcom28]

I always thought detroit was the home of the motor industry.

Don't really understand how a city can file for banckupsy either

[CAHEK]

Violent crimes per 100,000: 2,122.6
Population: 707,096
2012 murders: 386
Poverty rate: 40.9%
Percentage of adults with high school degree: 77.4%

Detroit’s murder rate of 54.2 per 100,000 residents was the second highest in the country last year. The homicide rate in Detroit, which included 386 criminal murders and an additional 25 justifiable homicides, reached the highest level in nearly 40 years. In addition, the city’s aggravated assault rate of 1,320.8 cases per 100,000 people was also the second highest in the United States, although this was an improvement from the 1,333.6 cases per 100,000 residents in 2011. Detroit has struggled economically in recent years. The city’s 2012 unemployment rate was a whopping 18.6%, much higher than the 8.1% across the nation last year. The median household income of $25,193 was less than half the national median for 2011.

[Wizzo]

[TehKinkyHotness]

Originally Posted by Wizzo

QFT
8 chars

[_Richard_]

Originally Posted by Wizzo

damn weekends

i thought Detroit declared earlier.. guess they were just talking about it

[CamTraffic]

An other dvtimes news report...

[Paul&John]

Originally Posted by Wizzo

[L-Pink]

Originally Posted by _Richard_

damn weekends

i thought Detroit declared earlier.. guess they were just talking about it

I think Canada should make us an offer for Detroit.

[Rochard]

Originally Posted by CAHEK

Violent crimes per 100,000: 2,122.6
Population: 707,096
2012 murders: 386
Poverty rate: 40.9%
Percentage of adults with high school degree: 77.4%

Detroit?s murder rate of 54.2 per 100,000 residents was the second highest in the country last year. The homicide rate in Detroit, which included 386 criminal murders and an additional 25 justifiable homicides, reached the highest level in nearly 40 years. In addition, the city?s aggravated assault rate of 1,320.8 cases per 100,000 people was also the second highest in the United States, although this was an improvement from the 1,333.6 cases per 100,000 residents in 2011. Detroit has struggled economically in recent years. The city?s 2012 unemployment rate was a whopping 18.6%, much higher than the 8.1% across the nation last year. The median household income of $25,193 was less than half the national median for 2011.

With an average median household of $25k, well, no wonder why they are hating life.

[SilentKnight]

Originally Posted by L-Pink

I think Canada should make us an offer for Detroit.

Naw, we'll just keep using it as Toronto's landfill site.

You wouldn't believe the convoy of garbage trucks that make the trek from Toronto to Michigan down Hwy 401 on a daily basis.

[Wizzo]

Originally Posted by L-Pink

I think Canada should make us an offer for Detroit.

I don't think you could have enough maple whiskey to trick them into paying anything for it...

[Jman]

Originally Posted by L-Pink

I think Canada should make us an offer for Detroit.

LMAO Can I get 8 mile rd please

[Google Expert]

Detroit is 90%+ black.

Is anyone really surprised?

[kane]

Detroit has a lot more problems than just auto unions.

That city seems to be the perfect storm of unions that had too much power, companies that gave those unions too much power, corrupt leadership and an all around badly designed, tough to live in city. Stir it all together and it creates a recipe for failure.

[SilentKnight]

One thing's for sure - Detroit's become the mecca for abandoned urban exploration photography these days. I know a few buddies who regularly skip over the border to shoot abandonments.

Those who survive come back with some damn interesting pics.

[Captain Kawaii]

Originally Posted by Rochard

With an average median household of $25k, well, no wonder why they are hating life.

News this afternoon says that number has been updated to around $15k.

[_Richard_]

Originally Posted by L-Pink

I think Canada should make us an offer for Detroit.

enough social spending, turn that around.. it be a political disaster

[Barefootsies]

Originally Posted by Rochard

With an average median household of $25k, well, no wonder why they are hating life.

[Horny Dude]

I still have family there and they say it is getting worse. I was there in 2010 and the block I grew up on is a shit hole. I wouldn't even get out of the car. It's sad to see a city so once powerful reduced to nothing. Just driving around and seeing so many houses and buildings empty you would think your in the apocalypses.

[OneHungLo]

[onwebcam]

Another Obama bailout gone south.

[FatBastard]

Originally Posted by onwebcam

Another Obama bailout gone south.

Rahm Emanuel?
http://en.wikipedia.org/wiki/Rahm_Emanuel

[onwebcam]

Originally Posted by FatBastard

Rahm Emanuel?
http://en.wikipedia.org/wiki/Rahm_Emanuel

So you're saying that the bailouts were all Rahm's idea? About right, Obama has done nothing wrong. He could shit on a picture of Jesus himself and still come out clean because we all know God invented bowel movements.

[just a punk]

Originally Posted by L-Pink

I think Canada should make us an offer for Detroit.

If it worth even a penny, Chinese would already buy it

[Roald]

Originally Posted by Horny Dude

I still have family there and they say it is getting worse. I was there in 2010 and the block I grew up on is a shit hole. I wouldn't even get out of the car. It's sad to see a city so once powerful reduced to nothing. Just driving around and seeing so many houses and buildings empty you would think your in the apocalypses.

Some amazing pics here http://gigapica.geenstijl.nl/2013/07/detroit.html

[Paul&John]

Originally Posted by Roald

Some amazing pics here http://gigapica.geenstijl.nl/2013/07/detroit.html

Great pics

[wehateporn]

In 100 years or so they don't want many people living around that neck of the woods, move to the green areas ASAP

[Barry-xlovecam]

Listed in Detroit's assets for the bankruptcy is the Detroit Museum of Art's collection valued at $2.5 BILLION.

I grew up in Detroit in the 60's it was a great city back then.

Detroit was founded by French explorer Antoine de La Mothe-Cadillac in 1701. So, Detroit lasted 1701- 1978, when it died as far as I am concerned -- with the Chapter 9 Bankruptcy filling this past week is just is the "death certificate" delayed a bit.

[brandnew]

Originally Posted by Getsu

Detroit is 90%+ black.

Is anyone really surprised?

Racist comment much?

[globofun]

Time for OCP and RoboCops

....funny enough, they had redesigned their police, fire and EMS vehicules this year....with Detroit skyline....like they needed that lol

[LittleMissBrat]

Originally Posted by OneHungLo

[arock10]

Originally Posted by brandnew

Racist comment much?

Gfy's new even lower standard

[Trend]

Originally Posted by brandnew

Racist comment much?

It's not a lie if it's true

It's not bragging if it's true

It's not slander if it's true

It's not mean if it's true

So why is it racist if it's true?

You really out to read:

Escape From Detroit:The Collapse of America's Black Metropolis

The truth is sometimes tough to accept

[TheSquealer]

I'm confused. Obama gave a speech promising not to allow Detroit to go bankrupt.

[Trend]

Originally Posted by TheSquealer

I'm confused. Obama gave a speech promising not to allow Detroit to go bankrupt.

Bankruptcy isn't going to be tolerated, when such an action is deemed a slight against the nation's first black POTUS

Ingham County judge rules Detroit bankruptcy be withdrawn; Schuette appeals, Detroit News, 7-19-13

This judge actually is quoted as saying:

?It?s also not honoring the president, who took Detroit?s auto companies out of bankruptcy.?

Every attempt will be made to bail out the armpit of the midwest.

[PhoneSexKing]

Originally Posted by L-Pink

I think Canada should make us an offer for Detroit.

I just flushed a huge shit. Didja get it?

[The Sultan Of Smut]

C'mon tards Detroit has been going down for 20 years now quit blaming it on a particular party. Seriously. Even the first Robocop movie depicted it as a shit hole.

[AsianDivaGirlsWebDude]

Why didn?t the auto bailout save Detroit?

The federal government poured $85 billion to prop up General Motors and Chrysler?an infusion of taxpayer money that helped pull America?s auto giants back from the brink.
GM posted record profits in 2011, and Chrysler?s renewed financial health has helped it open new plants and training centers. Meanwhile, auto sales are projected to top 16 million this year, returning to pre-recession levels. ?We refused to let Detroit go bankrupt,? President Obama declared last year.

And yet, this week Detroit declared bankruptcy.

Why is the Motor City still in so much trouble?

Despite the shorthand that we still use, Detroit?s moniker is a historic relic. The region was the birthplace of U.S. auto manufacturing, but its heyday is long since gone: since the 1970s and 80s, the industry has both downsized and shifted to other parts of the country. In 1975, there were some 100,000 jobs in the surrounding Wayne County; now there are only a quarter of those jobs left?and only about 10,000 jobs are in Detroit city. Despite the lingering nostalgia for the Motor City of old, the two Detroits are no longer interchangeable?and they haven?t been for a long time.

?If there?s a center of the gravity for the industry, it?s probably Nashville, Tennessee,? said Mark Zandi, chief economist at Moody?s Analytics.

The city?s economic health is still tied to the fate of the US auto industry, but that?s largely because there are so few other opportunities in a city that?s been in decline for decades. The 2009 bailout helped save the few outposts of the industry that remain in the city?two manufacturing plants and General Motors? world headquarters. ?If there wasn?t any bailout, those three institutions would be gone?about 5,000 assembly jobs and about 2,300 headquarters jobs,? said Sean McAlinden, chief economist at the Center for Automotive Research.

Altogether, the total job loss in Detroit city would have been about 30,000 if the car giants failed, McAlinden adds, including the secondary businesses that rely on the auto industry. ?The bailout helped the city sidestep a potential employment and tax disaster, ? concludes Matt Fabian, managing director of Municipal Market Advisors. ?Detroit might have needed to file bankruptcy two years ago rather than now.?

But while the auto bailout helped forestall Detroit?s demise, it wasn?t enough to remedy the city?s serious fiscal problems: the city never developed any real alternatives to create jobs aside from the auto industry, prompting residents to flee as opportunities disappeared and eroding the city?s revenue base.

Even those who hold Detroit?s few remaining auto jobs largely live in the suburbs, given the deteriorating quality of life, which has only accelerated the city?s decline. ?They aren?t paying property taxes and they don?t shop in Detroit. You can?t force people to live there as a result of the bailout,? said McAlinden, who adds that the city government also fell short in adapting to Detroit?s Brave New World.

What would an actual bailout of Detroit city look like? Basically, the state or even the federal government could take steps to shore up the city?s revenue base and spur job creation to stop the bleeding. The government could relocate public jobs to Detroit to anchor development, for instance, or redirect part of the sales tax to the city?s coffers, says Fabian. ?The state needs to step up and ensure that Detroit doesn?t lose business and growth it already has right now ? to reassure companies there now that things won?t get any worse.?

But the prevailing perception that the government has already ?bailed out Detroit? may make that an even harder political sell.

ADG

[TheSquealer]

Detroit... What happens when Liberal Democrats get everything they want.

[just a punk]

Originally Posted by TheSquealer

Detroit... What happens when Liberal Democrats get everything they want.

No. That happens when a financial crisis is knocking your door

[ilnjscb]

Originally Posted by Trend

Bankruptcy isn't going to be tolerated, when such an action is deemed a slight against the nation's first black POTUS

Ingham County judge rules Detroit bankruptcy be withdrawn; Schuette appeals, Detroit News, 7-19-13

This judge actually is quoted as saying:

?It?s also not honoring the president, who took Detroit?s auto companies out of bankruptcy.?

Every attempt will be made to bail out the armpit of the midwest.

She's a state court judge, and the bankruptcy was filed in federal court. She has no jurisdiction over it. She can order that state officials stop working on it, but that can be appealed (and has been).

[TheSquealer]

Originally Posted by CyberSEO

No. That happens when a financial crisis is knocking your door

Of course, you're a Russian kid from Moscow... why wouldn't you know exactly what you're talking about?

[just a punk]

Originally Posted by TheSquealer

Of course, you're a Russian kid from Moscow... why wouldn't you know exactly what you're talking about?

Because I follow the news. Please don't ask such stupid questions anymore.

[globofun]

OCP is coming!

[ilnjscb]

Originally Posted by CyberSEO

Because I follow the news. Please don't ask such stupid questions anymore.

With all due respect, reading about it in a the news is a little different from living it.

[Dvae]

Originally Posted by TheSquealer

I'm confused. Obama gave a speech promising not to allow Detroit to go bankrupt.

You can't possibly blame this on Obama. He's not responsible for anything!

[mineistaken]

Originally Posted by Getsu

Detroit is 90%+ black.

Dayumnnnnnnnn

By the way interesting layout:
red are whites, blue are africans:

[beemk]

The suburbs in Detroit are fine it's just the city of Detroit. The smart people moved out when house prices in the suburbs were at an all time low. People don't really go to the city of Detroit unless its downtown. Downtown is the only nice area that's safe and has stuff to do. The police keep it safe because there's businesses there and things to do. Detroit is beyond saving because the majority of it is full of lazy uneducated people who don't want to work and the city doesn't have the resources to send police if there's any trouble.

[beemk]

The blue dot to the north is Pontiac and the one south west is Inkster. Both are just as bad as Detroit for the most part. The spot above the north west corner of Detroit is Southfield. That area isn't bad but there's a funny article about black people bitching that people from the ghetto are moving there.

http://www.nbcnews.com/id/41810267/n.../#.UewpHI03uSo