Someone will profit off the Detroit Bankruptcy

[gollygee]

Read or watch Shock Doctrine. This is a scheme and Snyder is a pro at it. As is Romeny.

Too many people responding to these threads don't get it. It isn't that there are pensions and no money to pay them. These crises are created intentionally, and then right-wing libertarian economists jump in and say, "Oh no, a crisis! We have to do this horrible thing that will make a bunch of people incredibly poor, but we have no other choice!" And so they do it, because supposedly there is no other choice, but meanwhile a few people are making tons of money. It's happened over and over and over again, all over the world, wherever these libertarian economists have been.

We aren't falling for this game anymore. We know what they're doing.

[Dreamer Tatum]

1. So more than a million people moved away and took the tax base with them as part of a conspiracy?

[gollygee]

5. Global capitalism and moving factories to other countries are parts of it.

(No idea why that posted 4 times. Ack!)

[Dreamer Tatum]

10. The depopulation has occurred over decades.

I don't know why people are howling conspiracy when the economics are crystal clear: lost tax base and condensed unfunded commitments. Yeah, someone will make money off of it - unless the government bails Detroit out, why shouldn't someone putting
up money make some in return?

[Skittles]

2. Snyder is a vulture capitalist

he is an expert at making money off misery

[NoOneMan]

3. Just curious....what are the other choices?

How do the creditors get paid? How are the funds raised without selling anything? What level of taxes are necessary to service the debt based on projected economic activity?

[gollygee]

9. Whatever choice

should involve no one profiting off the bankruptcy, but that won't happen. Someone will make a huge profit. If a solution came out where they didn't sell Belle Isle for very little to someone who will make a fortune, and that kind of "solution" I could see your point. But this is all set up so people will make money, not because of pensions.

[NoOneMan]

12. Ok, thats shitty. Thats how this world works. Thats why its failing....

I agree. And I know that people will profit from this. But unless there is a viable plan to pay all creditors and service all obligations that doesn't involve bankruptcy, then its pretty much the only option on the table. OTOH, a necessary bankruptcy doesn't mean vulture capitalism's blend of bankruptcy is necessary.

But this is all set up

This situation will be exploited. It may of been exacerbated purposely. But I don't know if anyone can say its entirely a set-up rather than a failure of the omniscient wizards behind the curtain (who run everything else as well). Its tragic what has happened there, time after time. Detroit may be America's canary, hinting of a future of decline from the ramnifications of the ignorant cult of economist who were given free reign to apply their theories

[blm]

4. Exactly!

They've been breaking cities all across the US to further the global fascist agenda - a world ruled by corporate empires.

[Wounded Bear]

11. Ya think?

What better way to make a profit than to appoint a corporate toady to sell off a city at fire sale prices?

They get the gold from the mine and the people get the shaft.

[Crepuscular]

13. Sorry

but in regards to Detroit, this is simply conspiracy theory clap-trap. This financial hole has been being dug for generations and it's largely the result of political corruption, malfeasance and incompetence.

But for the sake of entertainment, what are the other viable options, other then bankruptcy, that Detroit should be looking at to solve their financial woes?