In 1 zip code, within a 1 year time period, one has a 1 in 7 chance of being the victim of a violent crime. One is safer in most of Iraq or Syria than in that particular neighborhood.
Michael Moore cites the disaster in Detroit as an example of capitalism’s nefarious nature. Sadly he appears to have no understanding of the fact that the reason Detroit is the wasteland it has become is because of collectivist (read anti-capitalist) policies over decades.
Detroit used to be one of the “big big cities” of the United States. During the middle part of the 20th Century it was a capital of industry and economic vitality. New York, Chicago, LA, Philly, San Francisco, and Detroit. The heavy hitters. Now Detroit seems only to be taking the hits.
47% of property owners in Detroit didn’t pay their property taxes last year. Honestly who can blame them?
Looks like the “Pay Czar” is being a little loose with the purse strings. The bailouts were so long ago. How can we expect these executives to get by on less than a million dollars a year?
Of course we are probably not the only ones to think that turning Detroit into an economic “free zone” could go a long way toward solving the city’s problems. It’s right on the border with Canada (which is doing pretty well at this moment) and it has a good port. It just makes sense considering the basket case Motown has become. It is essentially a non-functioning city.
I am a big fan of used cars generally. I just can’t bring myself to buy a new one given the immediate depreciation which occurs once I wave goodbye to the salesman. It’s just too painful for me. I prefer to buy my cars used.
Yesterday, it was announced that GM will buy back 200 million shares at a nearly 50% discount. (To the level which is “break even” for taxpayers.) That’s right, the taxpayer bailed out the company, or more specifically the United Auto Workers and their over funded pension and health care system, and now the taxpayer is selling (because the government wants to sell the shares) at far below the point at which taxpayers are paid back in full.
Nice deal for GM.
In this clip, Detroit city councilwoman Joanne Watson explains that since the Motor City voted for the president she expects some “bacon” from Washington.
“There ought to be a quid pro quo.”