On July 18, 2013, Detroit declared Chapter 9 bankruptcy to squelch most of their $18 billion in debts. The Chapter 9 filing occurred only four months after the appointment of an emergency financial manager. ‘Let me be blunt: Detroit’s broke,’ says Michigan’s governor, Rick Snyder. Snyder went on to say that Detroit is the heart of Michigan and if Detroit is in trouble, Michigan is in trouble.
Today, almost 30% of Detroit’s 140 square miles are either vacant or deserted. Detroit used to be the fourth-largest city in the US, with a population of nearly 2 million people. Today, Detroit has less than 700,000 residents. There are more than 33,500 vacant houses and over 90,000 vacant lots in Detroit. The city government is razing entire city blocks of business buildings and residential homes. If you are the only one left on your block, you are forced to move and if you are lucky you will receive $10,000 for your home.
The median price of a home in Detroit is only $9,000! In some areas in Detroit, you can buy a house for just $100. There are approximately 85,000 streetlights in Detroit, but copper thieves have stripped so much wiring out that many of the lights are not working. The Mayor of Detroit previously announced that he will reduce the number of streetlights to almost half the existing total down to 46,000.
Today, sixty percent of Detroit’s children live in poverty, when less than 45 years ago, Detroit boasted the highest per capita income in the United States. Today, Detroit does not have one chain supermarket left in the cityIt has one of the highest murder rates in its country. Its infrastructure has been gutted. Real unemployment may be as high 20% in some parts of the city. This is a real bad city to not be able to find a cop and with the new cutbacks, it is really hard to find a cop because most police stations in Detroit now only open to the public for 8 hours per day. So, if you have to defend yourself, you better be prepared to get through the night on your own. You can call the police on your Obama phone, however, you better only call between 8am and 5pm. Just how dangerous is it? Justifiable homicide in Detroit rose by an amazing 79% during 2011.
Look for an organization such at the World Bank to loan Detroit the $18 billion dollars it needs in order to regain temporary financial solvency. However, without a viable industry to maintain the economic foundation of the city, the city will predictably default on its future loan obligations. What follows is a glimpse into the future of all American cities as an increasing number of cities default on their “rescue” loans.
When a political entity defaults on its loans, the lending agency takes possession of the collateral which was pledged to cover the loan. Most often, the infrastructure is the collateral most sought after by the banks. When banksters typically take control over a political entity, like they did in Bolivia, they will quadruple the cost of water, astronomically hike the price of utilities and seize control of public transportation in order to jack up the rates to its ridership (i.e. poor people who cannot afford a car and need public transportation to get to work.). This is Detroit’s future and it will soon be all of our futures.
Detroit has failed as a viable entity because of the loss of manufacturing and subsequent population flight out of the city. The rest of our cities will all experience an economic collapse but for different reasons.
When, not if, Obama ushers in his industry killing Cap and Trade Executive orders, every American city will effectively be deindustrialized and we will have nation full of Detroit’s.
Do you know that Obama has stated that his Cap and Trade plan will eliminate the use of of 80% of the energy that we presently use? Can you drive 80% less miles to work? On a sub-freezing day, can you run your thermostat 80% lower? Can you use your lights 80% less with a major impact on your lives? Can you get buy on 20% of the gasoline that you presently use? And what business will survive these draconian caps placed upon our energy use? And then, where will you find work? Who will pay for your mortgage? Oh by the way, does it make sense now to about why the Federal Reserve is buying up $40 billion dollars worth of mortgage backed securities every month? Hmm, and some people wonder how the powers that be will force the rest of us into stack and pack cities. America, you have just seen your collective future.
Does it makes sense to you that DHS has purchased 2.2 billion rounds of ammo and 2700 armored personnel carriers? The globalists forces know what is coming. It is time that this country wake up and smell the coffee. You have been conquered, America, and many of you will not survive.
http://thecommonsenseshow.com/2013/07/18/who-killed-detroit-city-and-why/
