I hope the govt doesn't bail them out but I wouldn't be surprised. After all , its full of loyal voters. Plus you've got the union angle to keep happy.
Perhaps they could just sell Detroit to Canada :lol: http://globalnews.ca/news/726916/poll-should-canada-buy-detroit/
Sure they do. They have the coca cola bottling plant, America's biggest Delta hub, Turner field, a place where you can buy nuts and so forth
Found these pictures courtesy of ZH a real eye-opener: http://www.zerohedge.com/news/2013-07-19/photo-album-main-streets-dead-city And before-and-after shots: http://www.fastcoexist.com/1681121/...photos-show-the-glory-and-wreckage-of-detroit
I live not too far from Atlanta.. They have a booming tourist industry inside the 285 loop. Outside there's thousands of factories,shipping/loading docks & communities. Without looking,i'd have to guess Atlanta is still growing... There's several high rise corporate HQ in downtown that employ a lot of people.. However there is a bad element inside 285 with probably a million people on generational welfare. Atlanta has plenty of jobs if you want to work...
The Belgian bank Dexia (a big systemic one, that was rescued from bankruptcy by the government/central planners) reported yesterday that the failure of Detroit State will inflict them a loss of 110 million euro. In the past years, not any media article appeared that Dexia had any money lend to a US State. Today in the news they said that it was since a decade, and that it was then already known that Detroits financial future was bleak. This is yet another element on how the central planning operates on a world scale. They lend their local depositors money out all over the world, with none of them knowing, until it's too late. It also makes clear that not any State / government / institutional will disappear / go bankrupt, and not any currency will hyperinflate. They all bail out eachother and the logical end scenario is a series of worldwide events, striking all governments, all institutionals and all currencies.
A 'victory' for Detroit? One that just kicks the can down the road and solves nothing, probably making things worse. Also can't imagine the US Founding Fathers imagining a protection of unpayable local government pensions when they wrote the US Constitution.
If the State business would just leave Detroit, things would start to get solved. But the lazy State butts refuse to abandon their excuse to not help citizens to produce.
Default, the next creditors will take that into consideration. What's that saying? A bird in the hand is worth two in the bush? Yeah, that didn't just come out of nowhere.
