Posted: 9/27/2013 5:47:30 AM EDT
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please delete this
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CALPERS is the big one. WHEN it fails because guys are getting $500k a year pensions until they die who pays for that? Not everyone paying into CALPERS is a thief but there are lots examples of some city managers and other peons robbing it.
The Democrats who elect these people will never stop, they will never look back and say, "these guys fucked us". Forced to buy insurance, forced to pay more because of rampant printing of money, forced to take shittier insurance at your job, stripped of FSA (flex spend) pre tax options to be responsible and pay your own expenses.. They just don't care. The question is what happens when the parasites overwhelm the host. Its an amazing national security issue and both parties are acting like its not there. |
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Quoted: Someone thinks Detroit proper is saveable? Who? General Motors and Chrysler, the Kresge Foundation, and major individual backers such as Dan Gilbert, Roger Penske (the CEO of Penske Racing), and Peter Karmanos (the CEO of Compuware) It is rumored that Peter Karmanos is buying up tons of commercial property dirt cheap. A growth strategy for Detroit, post-bankruptcy |
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Quoted:
General Motors and Chrysler, the Kresge Foundation, and major individual backers such as Dan Gilbert, Roger Penske (the CEO of Penske Racing), and Peter Karmanos (the CEO of Compuware) It is rumored that Peter Karmanos is buying up tons of commercial property dirt cheap. A growth strategy for Detroit, post-bankruptcy http://www.detroitnews.com/article/20130723/OPINION01/307230009 Quoted:
Quoted:
Someone thinks Detroit proper is saveable? Who? General Motors and Chrysler, the Kresge Foundation, and major individual backers such as Dan Gilbert, Roger Penske (the CEO of Penske Racing), and Peter Karmanos (the CEO of Compuware) It is rumored that Peter Karmanos is buying up tons of commercial property dirt cheap. A growth strategy for Detroit, post-bankruptcy http://www.detroitnews.com/article/20130723/OPINION01/307230009 Let them do it. I'll pass on that investment. |
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Quoted:
General Motors and Chrysler, the Kresge Foundation, and major individual backers such as Dan Gilbert, Roger Penske (the CEO of Penske Racing), and Peter Karmanos (the CEO of Compuware) It is rumored that Peter Karmanos is buying up tons of commercial property dirt cheap. A growth strategy for Detroit, post-bankruptcy http://www.detroitnews.com/article/20130723/OPINION01/307230009 Quoted:
Quoted:
Someone thinks Detroit proper is saveable? Who? General Motors and Chrysler, the Kresge Foundation, and major individual backers such as Dan Gilbert, Roger Penske (the CEO of Penske Racing), and Peter Karmanos (the CEO of Compuware) It is rumored that Peter Karmanos is buying up tons of commercial property dirt cheap. A growth strategy for Detroit, post-bankruptcy http://www.detroitnews.com/article/20130723/OPINION01/307230009 Karmanos is retired from Compuware, though he still owns a bunch of shares. Gilbert, the Quicken guy, is buying up a ton of real estate. Have not heard the same about Karmanos, but it's possible. |
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Quoted:
White House to announce $300M in aid Friday to make Detroit safer, erase blight http://www.freep.com/article/20130926/NEWS01/309260199/white-house-bankruptcy-aid-for-detroit-blight-removal I know we all have drudge so lets not discuss the article.... This may well be the biggest issue of the next 20 years maybe what we FO over..first Detroit, then Flint, then Michigan the NYC, California, Illinois, St Louis.. Where will it end? Liberal cities elect liberal politicians get ruined and get bailed out by fed tax dollars then keep electing liberal crooked mafia entrenched candidates. To be honest I do not see bankruptcy I don't think the gov - eho controls the printing press will ever run out of money they will just keep printing. and inflate it. So how do we stop the wasting of our tax money we have already seen two huge bailouts of a jersey boardwalk for no good reason or benefit the nation at large. So how does it get stopped? Can the responsible states / municipalities do anything? Will Texas and the Midwest allow a multi-billion dollar bailout of bailout of California? just think about this violence will not happen until the rich get pinched hard here is the mechanism of the pinch the lines are drawn around solvency of municipalities. Why you including St. Louis? We haven't needed bailouts. We might have tardo politicians and I can't say I love everything about here, but we're not in the same league. Just lots of homicides. 
Still though, to be quite cynical I'm not sure it can be stopped until the machine seizes up. Once then we can try to talk sense into people and have actual experience to prove what doesn't work in THIS country. Until then? Buckle up. |
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Quoted:
CALPERS is the big one. WHEN it fails because guys are getting $500k a year pensions until they die who pays for that? Not everyone paying into CALPERS is a thief but there are lots examples of some city managers and other peons robbing it. The Democrats who elect these people will never stop, they will never look back and say, "these guys fucked us". Forced to buy insurance, forced to pay more because of rampant printing of money, forced to take shittier insurance at your job, stripped of FSA (flex spend) pre tax options to be responsible and pay your own expenses.. They just don't care. The question is what happens when the parasites overwhelm the host. Its an amazing national security issue and both parties are acting like its not there. Yup. |
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300 mil won't even begin to fix the problem.
It's more than just about fixing the basic infrastucture and schools. It's has everything to do with pensions that are unsustainable, corruption on a level that makes DC look good, and a rapidly shrinking tax base from people who produce among a myriad of other problems. |
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Quoted:
Why you including St. Louis? We haven't needed bailouts. We might have tardo politicians and I can't say I love everything about here, but we're not in the same league. Just lots of homicides.
Still though, to be quite cynical I'm not sure it can be stopped until the machine seizes up. Once then we can try to talk sense into people and have actual experience to prove what doesn't work in THIS country. Until then? Buckle up. Quoted:
Quoted:
White House to announce $300M in aid Friday to make Detroit safer, erase blight http://www.freep.com/article/20130926/NEWS01/309260199/white-house-bankruptcy-aid-for-detroit-blight-removal I know we all have drudge so lets not discuss the article.... This may well be the biggest issue of the next 20 years maybe what we FO over..first Detroit, then Flint, then Michigan the NYC, California, Illinois, St Louis.. Where will it end? Liberal cities elect liberal politicians get ruined and get bailed out by fed tax dollars then keep electing liberal crooked mafia entrenched candidates. To be honest I do not see bankruptcy I don't think the gov - eho controls the printing press will ever run out of money they will just keep printing. and inflate it. So how do we stop the wasting of our tax money we have already seen two huge bailouts of a jersey boardwalk for no good reason or benefit the nation at large. So how does it get stopped? Can the responsible states / municipalities do anything? Will Texas and the Midwest allow a multi-billion dollar bailout of bailout of California? just think about this violence will not happen until the rich get pinched hard here is the mechanism of the pinch the lines are drawn around solvency of municipalities. Why you including St. Louis? We haven't needed bailouts. We might have tardo politicians and I can't say I love everything about here, but we're not in the same league. Just lots of homicides.
Still though, to be quite cynical I'm not sure it can be stopped until the machine seizes up. Once then we can try to talk sense into people and have actual experience to prove what doesn't work in THIS country. Until then? Buckle up. st. Louis is half gone already keep trying to separate yourself from East St. Louis. |
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You don't have to look far on the internet to see how sizeable underfunded state pensions are:
http://dealbook.nytimes.com/2013/06/27/moodys-shows-wider-pension-gap-for-states/?_r=0 Ratings Service Moody’s Finds Pension Shortfall BY MARY WILLIAMS WALSH Moody’s Investors Service, dissatisfied with the way states measure what they owe their retirees, released its own numbers on Thursday, showing that the 50 states have, in aggregate, just 48 cents for every dollar in pensions they have promised. That is much less than the 74 cents on the dollar that the states now report, suggesting the states are short by about $980 billion, with many local governments, like school districts, being on the hook for additional billions that they have not disclosed at all. http://online.wsj.com/article/SB10001424127887324296604578175800831334338.html States Faulted Over Teacher Pension Shortfall By STEPHANIE BANCHERO U.S. states carry a total of about $390 billion in unfunded teacher pension liabilities, according to a report that says efforts by lawmakers to tinker with vesting periods or shave benefits are falling far short of the overhaul that is needed. The report, issued Thursday, gives a comprehensive state-by-state accounting of the problems facing teacher pensions. It concludes that recent pension changes—made by at least 22 states this year—haven't helped much and, in some cases, have harmed teachers or taxpayers. The report is from the National Council on Teacher Quality, which advocates stronger teacher-evaluation tools and has sometimes been at odds with teachers unions. This last article from WSJ shows CA teacher's pension fund to be short by $51 billion. That number has been revised recently to over $70 billion. Most analyst agree that state's undercount their unfunded shortfall by predicting unreasonable high RORs. CA's teacher pension shortfall is likely over $100 billion. Note also that CA has two separate state pension systems called CALPERS and CALSTRS. CALSTRS is the teacher's pension, while CALPERS is all other state, county, city workers. Note, some county and city workers participate in other pension system but that is fewer. Between CALPERS and CALSTRS, the true shortfall is likely around $250 billion, or a quarter of a trillion dollars. |
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Quoted:
General Motors and Chrysler, the Kresge Foundation, and major individual backers such as Dan Gilbert, Roger Penske (the CEO of Penske Racing), and Peter Karmanos (the CEO of Compuware) It is rumored that Peter Karmanos is buying up tons of commercial property dirt cheap. A growth strategy for Detroit, post-bankruptcy http://www.detroitnews.com/article/20130723/OPINION01/307230009 Quoted:
Quoted:
Someone thinks Detroit proper is saveable? Who? General Motors and Chrysler, the Kresge Foundation, and major individual backers such as Dan Gilbert, Roger Penske (the CEO of Penske Racing), and Peter Karmanos (the CEO of Compuware) It is rumored that Peter Karmanos is buying up tons of commercial property dirt cheap. A growth strategy for Detroit, post-bankruptcy http://www.detroitnews.com/article/20130723/OPINION01/307230009 Smart people are not going to move to Detroit proper in droves for employment and A significant portion of those living there are uneducated welfare lifearians and purposely ignorant criminal thugs. Not really a group of people to look for as an employee base to hire from. |
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Bulldozers and fire are the only cure..money thrown at anything else other then that will just be squandered and stolen as it always is. The downtown "redevelopment types" wish the
neighborhoods weren't there at all. but they aren't going anywhere and neither is the crime/ gangs/drugs etc. hence Detroit will always be Detroit. |
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Quoted: Snip My wife is a teacher and part of CALSTRS. I told her not to expect her money when it comes time to retire. CALSTRS need $4.5 Billion a year for the next 30 years to keep the system funded. A new report says CalSTRS needs $4.5 billion more a year to fully fund pensions over the next three decades, a 75 percent increase in the $6 billion total annual payments now being made by teachers, school districts and the state. There is no cheap fix in the report. A final draft, scheduled to be considered by the CalSTRS board this week, was prepared after meetings with stakeholder groups as directed by a Senate resolution asking for options to address a funding shortfall. An additional $3.6 billion a year would yield 80 percent funding, $2.9 billion would prevent the investment fund (roughly $160 billion now) from running out of money, and $1.5 billion would push back the estimated run-out date from 2047 to 2058. |
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And I've seen people say that reparations = FO time. LOL. Guess its FO time and there is damn little FOing. There will never be another "foing"......ever. Just a bunch of tough talk from internet wanna-be bad asses who can't handle day to day tasks without bleeding out of their ass. |
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Smart people are not going to move to Detroit proper in droves for employment and A significant portion of those living there are uneducated welfare lifearians and purposely ignorant criminal thugs. Not really a group of people to look for as an employee base to hire from. Right on!! Now that we have these folks consolidated it's time to trick Ontario into expanding slightly west. 
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Another way to fix Detroit is announce tomorrow that ALL welfare related funding will end in six months.
Food subsidies: GONE Housing subsidies: GONE Heath care: GONE Obama phones: GONE. Then after the riots and burning and murders are ended, clean up (bull doze) the slums and enact conservative pro-business policies and you have a chance to make it a better city. |
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Quoted: Let them do it. I'll pass on that investment. Quoted: Quoted: Quoted: Someone thinks Detroit proper is saveable? Who? General Motors and Chrysler, the Kresge Foundation, and major individual backers such as Dan Gilbert, Roger Penske (the CEO of Penske Racing), and Peter Karmanos (the CEO of Compuware) It is rumored that Peter Karmanos is buying up tons of commercial property dirt cheap. A growth strategy for Detroit, post-bankruptcy http://www.detroitnews.com/article/20130723/OPINION01/307230009 Let them do it. I'll pass on that investment. Unless you think the whole country is going to collapse then at some point down the road Detroit will turn around. Right now there is an endless supply of nice houses 2,000 to 2,500 sq ft going for less than $10,000 each. There is also a ton of dirt cheap commercial property. Find the right area, work with other developers/investors, and your returns will be amazing. It is still a gamble there are huge possible gains. |
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There will never be another "foing"......ever. Just a bunch of tough talk from internet wanna-be bad asses who can't handle day to day tasks without bleeding out of their ass. Quoted:
Quoted:
And I've seen people say that reparations = FO time. LOL. Guess its FO time and there is damn little FOing. There will never be another "foing"......ever. Just a bunch of tough talk from internet wanna-be bad asses who can't handle day to day tasks without bleeding out of their ass. I disagree. "never" is a strong word. It will probably take some monumental ass raping to get people up, but it is bound to happen in some form, at some point in the not so distant future. I bet I will live to see it. 
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Waste. Of. Money. They've been trying to bail out Detroit for years. Quoted:
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Won't overcome the demographics. Waste. Of. Money. They've been trying to bail out Detroit for years. yes but now they are starting to do it. WITHOUT ANY SPENDING BILL ON IT NO DEBATE NO VOTE JUST A DECLARATION. This is only the start if Detroit gets bailed out then it will be much harder to stop the bailout of other cities and we have laready bailed out NJ from Sandy which in all honesty was a wimpy little 80MPH storm. We all know we can't afford it we all know more is coming we all know we can't stop it. SO what can we do the only option I see is try to collapse the Chinese and euro economies to prop ours up. |