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Detroit files for bankruptcy with debts of $15bn

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Post  Silvers on 2013-07-21, 8:30 pm

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Detroit files for bankruptcy with debts of $15bn

19 July 2013 Last updated at 22:43 BST

The US city of Detroit in Michigan has become the largest American city ever to file for bankruptcy, with debts of at least $15bn (£10bn).

State-appointed emergency manager Kevyn Orr asked a federal judge to place the city into bankruptcy protection.

Michelle Fleury reports.
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Detroit becomes largest US city to file for bankruptcy
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Post  cyprussyd on 2013-07-21, 8:48 pm

getting scary when you think about it

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Post  Silvers on 2013-07-21, 10:26 pm

Gateshead have no chance then ..

What a Face 
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Post  Guest on 2013-07-21, 10:45 pm

cyprussyd wrote:getting scary when you think about it

The motor car capital of the world !  It is indeed getting scary, Syd.  The bottom line is, whether you live in New York, London, Thirsk or Berwick, you must give up some of the do-goodie reliance on government.  We hear it every day - people with this or that rare disease need £x million aid from the government (usually, in this country, via the NHS).  To buy a house and still live decently you need two or more incomes and haven't time to spend time with your own kids - the teachers should teach them how to flush a lavatory.  And then we demand to know why British education is 37th in the world and dropping like a stone!

Look, why the hell do you think British educational standards are dropping like a stone, when teachers are being asked to be 'surrogate mothers and fathers'?  There are so many hours in the day, and teachers cannot tell your kids what the square root of 96.3 is or what a comma is, or the historical significance of Paldiski, when they're too busy teaching them how to wipe their noses while you earn 'a living', and all for the benefit of the estate agents.

The truth is communism was garbage.  But since the collapse of that garbage, the West has expected more of capitalism than it can reasonably deliver.  The truth is we have to produce and sell before we can spend - and for some years now, we've been living in dreams.  'The Government' - Labour, Conservative, Democratic, Republican, whatever - simply can NOT supply what you can not pay for.  Learn it.

The shit we're getting into is not, repeat not, the fault of politicians.  It's the fault of our expectations.
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Post  Silvers on 2013-07-21, 11:12 pm

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From what I see myself, kids go to school for 8.45am and come home about 3.30 pm

Nothing different there from what it has always been...

The 'current' shit we have got ourselves into (your words) was predominantly caused by the banking crisis.... which is not the making of we ordinary folk...

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Post  Guest on 2013-07-22, 1:07 am

silvers wrote:Detroit files for bankruptcy with debts of $15bn Soapbox1_zps2d0f61d1


From what I see myself, kids go to school for 8.45am and come home about 3.30 pm

Nothing different there from what it has always been...

The 'current' shit we have got ourselves into (your words) was predominantly caused by the banking crisis.... which is not the making of  we ordinary folk...

There's no difference between the times they go and come back, sure.  But the teachers duties are very different.  My sister was, up to two years ago, an Assistant Head Teacher, and she has dozens of stories about teaching kids that they must flush the lavatory after using it so that the next user can find it clean.  And next, she has to teach them how to wash their hands!  The net result is far less time for academic subjects.

The 'current' shit we have got ourselves into (my words, sure) was predominantly caused by banks offering more and more credit, and us being stupid and irresponsible enough to take it.  Today, we have 19 year-olds opening a new credit card account every month, borrowing £1.000 to pay off the £900 they owe to another credit card company, blowing the remaining £100 (usually on speeding or parking fines) and then borrowing £1,100 off another card company to pay off last months £1,000 debt.

We have to get back to personal responsibility, man.
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