Once-mighty Motor City files for bankruptcy

Once-mighty Motor City files for bankruptcy

DETROIT (AP) – Once the very symbol of American industrial might, Detroit became the biggest U.S. city to file for bankruptcy Thursday, its finances ravaged and its neighborhoods hollowed out by a long, slow decline in population and auto manufacturing. SOURCE

Back in November of 2008 Mitt Romney wrote a piece entitled Let Detroit Go Bankrupt. Mitt was right, he had the business foresight to see it, he knew it was inevitable.

Joe Biden seized on what Mitt Romney said about letting Detroit go bankrupt, well, as much as *Slow Joe* can seize on anything, and he tried to make a big deal out of it in the Vice Presidential debates against Paul Ryan.

I don’t make hollow accusations; here’s the YouTube video.


Of late even some Michigan lawmakers have had the thought that the best thing to do would be to let Detroit go bankrupt.
Rick Jones, Michigan Lawmaker, Says State Should Consider ‘Dissolving’ Detroit.

You see, the idea of accepting reality, and doing what you can to change the outcome, is what the grownups in the room do, i.e. Mitt Romney, but ignorant Democrats such as Joe Biden and Barack Hussein Obama don’t have a clue about *business* or how to run one.

The government of the United States is one gigantic business and needs to be run as such, otherwise, the whole thing is going to go down the tubes just like Detroit.

Business publications such as Forbes stated back in 2008 that Detroit was among America’s Fastest-Dying Cities.

Personally, I have had issues with George W. Bush and the *bailout* of the Automakers since that egg was hatched.

Automobile manufactures built Detroit, it was a CAR TOWN, the Motor City, but after years of Democratic rule, massive Democratic corruption and mismanagement, Detroit was fast fading into the sunset.

The automakers, due in a large part to Democratic and Union corruption, as well as stiff competition from foreign automakers, was facing a similar rapid demise.

I’m not a business major but I know enough about business to know this; you don’t go giving $700 or more MILLIONS to a failing industry and expect them to suddenly turn around and become profitable. You have to address the root of the problem and take any and all steps necessary to change the losing habits to become profitable once more.

That applies to ALL business and ALL governments, city, state or local.

Barack Hussein Obama has been playing The President for over 4 years now, sadly, he can’t blame his failures, or this economy on George W. Bush any longer. This baby is ALL his and Obama now has to accept the fact that the United States, under HIS brand of leadership, is rapidly becoming an abject failure.

32 States Now Officially Bankrupt

Courtesy of Economic Policy Journal we now know that the majority of American states are currently insolvent, and that the US Treasury has been conducting a shadow bailout of at least 32 US states. Over 60% of Americans receiving state unemployment benefits are getting these directly from the US government, as 32 states have now borrowed $37.8 billion from Uncle Sam to fund unemployment insurance. The states in most dire condition, are, not unexpectedly, the unholy trifecta of California ($6.9 billion borrowed), Michigan ($3.9 billion), and New York ($3.2 billion). With this form of shadow bailout occurring, one can only wonder how many other shadow programs are currently in operation to fund states under the table with federal money. The full list of America’s 32 insolvent states is below, sorted in order of bankruptedness. SOURCE

It’s all on you Obama, you can sink or swim, but you can’t tax us into a stable economy, you can’t *spend* this nation back into prosperity, all you can do is loosen the reins on American business, let those businesses go about the business OF business, let the old Capitalist Business Concept do what it does best and ensure that it’s done responsibly, and keep your stupid nose out of it.

As sure as you’re reading this, bad decisions by Republicans, and horrendous decisions by Democrats, have taken this nation to the very real possibility of going totally bankrupt.

The only prayer this nation has is renewed faith in God, strong Conservative leadership and leaders in business that truly go about their toils in an honest and responsible manner.

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12 Responses to Once-mighty Motor City files for bankruptcy

  1. dekare says:

    I bet if you offered every unemployed govt sucking leech in Detroit right now a job or $20 govt subsidy card, they would take the money and turn down the job. That is what liberalism/progressivism has done to this once great city.

    Sadly, our political structure of democrats and republicans have become and out and out WAR. They are so busy fighting that, like every war, that innocent citizens are killed and whole towns leveled in the process. Until our politicians quit fighting over who will gain power and control and get down to business of doing what is BEST for AMERICA and AMERICANS, this will happen over and over again.

    How sad that the proven system of capitalism that has brought us the greatest wealth and freedom, is under attack. That it was this way of life that made America so wealthy and the envy of every country. Yet socialism has proven the complete opposite, with Detroit as the example, yet there are still so many that hate capitalism and believe in socialism.

    I can only wonder what these people are thinking. Our health system has been the greatest any country has ever known because it was run by the private sector. Now, it too is going to be run exactly like Detroit, and with the same end result.

    At this point, I can only blame the ignorant and low information voters of this country for putting us in this mess. If we ever get out of this mess, I think we need to go back to requiring voters who have a minimum of education and actual skin in the game. And not skin in the receiving end of government, but on the paying side. And while I’m at it, bring back the dept of un-American activities, with the focus on communists. I think Joseph McCarthy was on to something there. If he was still around none of this would have happened.

  2. Nemesis says:

    Fred, I believe both sides of politics are to blame for the mess we now find ourselves in. Sure, the libbers have to burden most of it, but when it came to correcting their mistakes the so called Conservatives back peddled as they left their collective balls in their spouses purses, falling over themselves to ingratiate themselves with THAT side of politics in an endeavour to ‘win over’ their perceived lost voters.

    Or was that just a ploy as they moved to the Left and is it in mans inherent nature to not want to confront and then have to deal with the real issues?

    Is Conservatism, which is a recent political phenomena, an aberration that has been grasped at by those whose names we could fit into a shoe box, and has been the last resort of those clear headed and stout hearted thinkers of history who seem to pop up from time to time, but never often enough?

    We all know why Detroit, New York and California are basket cases, both socially and economically- and I would venture that those who have driven these once great names into the dirt know exactly how it has all come about, but who is there to lead them out of their current problems?

    Who is there to bring those responsible to account?

    I know there is more to it than this simple conjecture loosely based on fact, but I’m sure you get the picture.

  3. Working To Keep Freedom says:

    I am astounded and amazed, but I guess I shouldn’t be. This gubment has been so emphatically non-transparent in all areas of its operation. And I don’t just mean this administration.

    We the People MUST begin standing up for our rights and voting for the best candidates available. We MUST write to our elected officials demanding that they follow their OATH of OFFICE and that they work for US! We MUST bring back the freedom to have businesses released from the controls and taxes that have been placed upon them in order that they can not only survive, but thrive!! We are truly on the brink of disaster and I’m not sure if that train has gotten so far out of the station that we can’t call it back!

    Thank you Fred! This post has blown me away and I certainly hope it snaps more folks out of their stupor!! Keep up the excellent work!!!!!

  4. BARR says:

    Glad to see yer back Fredza! Hope your feelin’ youngie!
    If yer feelin’ like a dogs breakfast…a nip of blackberry brandy never hurt…

    • TexasFred says:

      I am feeling a lot better… Thank you for caring!

      The blackberry brandy sounds pretty damned good to be honest with you, if only I could drink… :(

  5. Detroit is only the TIP of the iceberg.

    I will not support sending one thin dime of taxpayer money to Detroit to bail them out! Nothing! Period!

    Another mean ole conservative heard from, huh?

    JDL

  6. Purplekylady says:

    As a Detroit (actually a suburb, but very close to the border) native, transplanted to Kentucky, I’ve watched the city go downhill starting with the riots in 1967. Of course, there are many other factors, but I’d blame the decline in morality/growth of crime (drugs #1) for most of Detroit’s problems. It is pitiful to drive down once-great streets such as Gratiot — actually any you can name — and see broken-down buildings, graffiti and boarded-up houses.

  7. Bunkerville says:

    Why do I think this is going to cost me via our White/African President?

  8. himself9 says:

    Just shows to go ya what happens when the socialists is in charge

  9. I took my first Econ class way back in 1968, and even back then forward thinking economists said that Detroit was only a matter of time…

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