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Michigan Governor Rick Snyder has to decide whether to declare a financial takeover of Detroit...

  • Wednesday, February 20, 2:54 AM ET
    Michigan Governor Rick Snyder has to decide whether to declare a financial takeover of Detroit by the state and appoint an emergency manager after a review team concluded that the city suffers "operational dysfunction" and faces a fiscal emergency due to its "chronic deficits and its long-term liabilities." Ultimately, Detroit might have to one day carry out what would be the biggest municipal bankruptcy filing in U.S. history.
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This news story has 3 comments:

  •  
    Just as the failing economies and cultures of the Euro-Periphery are inexorably consuming the Euro-Core so the failing economies, cultures and societies of big metro areas in Michigan, California, New York and Illinois are consuming these blighted states.

    Big Government is doing what it does best: expanding a sullen and parasitic lower class; compressing the productive middle class and entrenching a tiny upper class. This is how democracies become oligarchies and then dictatorships...all in the name of the people, of course.
    20 Feb, 05:31 AM Reply Like
  •  
    >>Big Government is doing what it does best: expanding a sullen and parasitic lower class...<<

    Also known as buying votes.
    20 Feb, 06:21 AM Reply Like
  •  
    You forgot to add the extremely non productive over compensated government workers with a cadre of financially ignorant and managerially incompetent elected officials! Oh, and yes the public unions who's work rules keep crappy employees on the payroll when they should be fired!
    20 Feb, 06:05 AM Reply Like
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