Saturday, July 20, 2013

Detroit Bankruptcy - Socialism At Work

The city of Detroit has filed for bankruptcy, the largest city in the United States ever to do so.   However, it should be no surprise to anyone.   Detroit has been in decline for more than 30 years as a result of its corrupt Socialist politicians and public employee unions that have milked the people of Detroit for all they could get.  The end result is that the population of Detroit, over three decades, has fallen from 2 million to about 700,000.   Detroit is left with all the Takers in society.  The Makers have been voting with their feet for years. 

There are an unbelievable 78,000 abandoned, vacant buildings in Detroit, presumably owned by the city.   City Services are almost non existent.   Detroit public schools are a crime against children.  All of this is happening because 19,000 retired public employee union members and current city employees have been promised pensions that are unsustainable.   The city simply does not have the money to pay those pensions and at the same time maintain city services.   And, there is no one left in Detroit, with any money, to tax.  

The Socialists in Detroit bled the Makers in society dry so they left the city.   For the most part, what is left in Detroit are the unemployed, more than 20%, those on Welfare, or Disability Benefits, old retired people with little income and Crack Dealers.   It is a very sad ending to a Socialist story; but it is always what happens when corrupt Socialists control all the levers of power.  Socialism where ever and when ever it has been in practice results in poverty and misery.  It is like a Ponzi Scheme, where some people do well for a period of time; but then eventually everyone else gets killed.   This is what Obama wants for our whole country when he talks about "transforming America".   We can see the end of the story in Detroit because it is coming to the United States if Obama is allowed to continue with his corrupt Socialist Schemes.   

So now as a result of this bankruptcy, Detroit's creditors and bond holders will get screwed.  Public employees, currently getting pensions, will get much less than they were promised.  Of course, Obamanistas will call for a federal bail out.  Let us hope that the Republicans in Congress say Absolutely Not because if Detroit is bailed out, Illinois and California will be next at much higher cost to the taxpayer.  Instead, it is time for tough love and medicine.   Throwing more heroine at a heroine addict just results in ultimate death and is never the solution.  Those who have been feeding at the trough for years must now feel the pain of their excesses and corruption, rather than ask the American taxpayer to bail them out. 

This Blogger previously advanced a unique idea for Detroit.  Tear down all the vacant buildings and make Detroit a huge Apple Orchard, the NAPA Valley of the Mid West, except rather than grapes and wine being the attraction, make it everything apple, through private investment.  Let Capitalism work.  Doing so will attract tourists to a city that today is one big junk yard.  And, if there is gas and oil shale under that land, make Detroit a big energy center to create thousands of jobs.   It is going to take creative thinking to save Detroit, rather than a federal bail out, which will just make it worse.  

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