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49 states to go: City of Detroit files for bankruptcy

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On a day when US stocks surge to new highs and Moodys upgrades the US rating outlook from negative to stable… the city of Detroit files for Chapter 9 bankruptcy. Don’t worry, it makes perfect sense in the central planned “new normal” the US economy has become.

MOODY’S: U.S. Aaa SUPPORTED BY SECURE STATUS OF U.S. DOLLARS

Just minutes later

BREAKING: US city of Detroit files for bankruptcy: court papers

Following this bombshell, here are a few highlights from Gov. Snyders press conference, summarizing the epic fail Detroit has become:

  • … difficult to reverse 60 years of decline in which promises were made that did not reflect the reality
  • Detroit citizens wait an average of 58 minutes for the police to respond to their calls
  • Only a third of Detroit’s ambulances were in service in the first quarter of 2013
  • 40% of Detroit’s street lights were not functioning
  • Detroit has large swaths of largely abandoned structures — approximately 78,000
  • Detroit tax rates are at their current legal limits. Even if Detroit was legally able to raise taxes, its residents cannot afford to pay additional taxes.

Written by mo

July 18th, 2013 at 9:50 pm

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