Detroit Bankruptcy ~ What the Media Is not Telling You

Thom talks ALEC's new corporatist agenda with Congressman Mark Pocan and Detroit's bankruptcy with Pastor D. Alexander Bullock. Tonight's "Lone Liberal Rumble" discusses the recent success of Obamacare, DC's $4.25 increase in their minimum wage and President Obama's speech on wealth inequality. In tonight's "Daily Take" Thom explains the real reason why Detroit is in bankruptcy.

Detroit over-cooked, well-done and toasted

Detroit over-cooked, well-done and toasted. Detroit bankrupted. How many more cities on the list:
The city of Detroit officially became the largest municipality in U.S. history Tuesday to enter Chapter 9 bankruptcy after a judge declared it met the specific legal criteria required to receive protection from its creditors. The landmark ruling ends more than four months of uncertainty over the fate of the case and sets the stage for a fierce clash over how to slash an estimated $18 billion in debt and long-term liabilities that have hampered Detroit from attacking pervasive blight and violent crime.

Michelle Malkin on Detroit Bankruptcy and Obamacare

7/29/13 - Michelle Malkin on Detroit Bankruptcy and Obamacare - America Live - Fox News
wall st killed Detroit




That would be like me showing current assets, then deducting 30 years of my mortgage interest (which I haven't yet paid) to end up with my net worth. All govts do this and it's total BS!! When these bogus govts try to cry Bankruptcy, they show the Judge the Balance Shee where they can easily hide Assets. In the CAFR;(CAFR = Comprehensive Annual Financial Report) however, the Statement of Net Assets tells the true story of their financial condition. CURRENT ASSETS minus LONG TERM? (not current liabilities?) = Net Assets...I don't think so!!!

Detroit to Sell off City to Pay Bankers

Among all the helpful suggestions the Motor City has received during its slide into bankruptcy, selling off Belle Isle, a picturesque island park in the Detroit river, to a group of billionaires intent on creating a libertarian city-state ranks among the most outlandish.
Yet Rodney Lockwood, the local property developer who has been pushing his idea for a "Commonwealth of Belle Isle", is not alone in imagining there is value locked up in city-owned assets, which could be put up for sale to help pay creditors.

With a list of assets that ranges from 22 square miles of land, public utilities and infrastructure, and collections of animals and art, Detroit might seem a candidate for a municipal garage sale of historic proportions.
http://www.ft.com/cms/s/0/8fe06c02-f5...

Detroit Bankruptcy Raising Questions About Future Of Other Cash-Strapped Cities

Detroit Bankruptcy Raising Questions About Future Of Other Cash-Strapped Cities
Detroit was once one of America's biggest and most productive cities. Millions of people had jobs in the automobile industry, and the city also attracted other big business. But for years the industry has been suffering and this week it hit a new low.

Today, Detroit. Tomorrow, Hometown, USA

You guys better hurry cause the banks look to have only a few months left. Repos, CDS, IRS are all collapsing at the same time. I expect an overnight collapse that will make peoples jaw drop, 08 is going to look slow in comparison. It is the banks or the people and sorry to say it but the people are brain dead.




Detroit is bankrupt! Surprised? You shouldn't be. This has been a long time coming, and given the state of the city it should be a surprise to no one. Insane crime stats, nearly 80,000 abandoned buildings, and 40% of the city has no public illumination after darkness falls.
I visited the city 15 years ago as a teenager and was dumbfounded by the empty streets and abandoned, rickety buildings everywhere. I can only imagine what it's like now.
Is this part of a larger overall trend? I think given the debt situation in most western countries, including the USA and Canada, we will see more of this in the near future. Once the public wakes up to the true debt floating around, and that the dollars the banks and the government are throwing around are fabrications, there may be a major correction about to occur. I hope I'm wrong, but all the signs are pointing that way.

Detroit Test Case For Genocide In America

LPACNEWS | July 23,2013 | A political policy for Genocide is rolling out in America. The conditions now being experienced by the people of Detroit, as described vividly in this presentation, herald the future for the rest of the American people — unless Glass-Steagall is immediately restored and the true enemies of the United States recognized, and defeated.

Detroit is Too Big to Fail: Crush Wall Street, Not The American People
by Bill Roberts, LaRouchePAC Policy Committee

On Friday, July 19th, during a live webcast Lyndon LaRouche warned that if we do not succeed in forcing the U.S. Congress to put through a reinstatement of Glass-Steagall, we can kiss the nation goodbye. As the financial bubble continues to implode, the banks of the trans-Atlantic financial system would simply default on payments to their debtors and a major part of the population of Europe and the United States would simply be left out on the streets to starve to death. ...

....This is the type of blatantly fascist bail-in policy spelled out in Title II of the 2010 Dodd-Frank financial reform bill, which creates a top down authority by which the "systemically important" global banks can commence the "Cyprus-style" default on depositors' accounts. It also reflects what J.P. Morgan has openly called for in a recent 16 page document where they brag that a top down, unified bankers dictatorship over Europe is already halfway complete and that the only thing standing in the way is anti-fascist, pro-democratic constitutions in place in certain European nations. ...
Read More ... http://larouchepac.com/node/27441


INTELNEWS | The true enemies of the U.S. are operating within the U.S Government, Banking Institutions, News Media, Pentagon and War-machine Corporations and the Federal Reserve System; all of which clearly represents the House of Rothschild's (The British Empire) Israeli Jewish Zionist Network acting as the Shadow Government, the Obama Administration, the real authority behind the mask of the U.S. Government. These are the true enemies of the United States that need to be recognized, and defeated.

The reinstatement of the Glass-Steagall Act will be a step toward reorganizing the banking system in America. National Banking under a U.S. Hamiltonian Credit System will end the Rothschild Central Banking System in America. "Chasing the Money Changers out of the Temple" (America) is a major step that could only be carried out by a Constitutional Military Force to drive these tyrannical Zionist régimes of evil and corruption out from behind the U.S. Government and mainstream America.

Will Detroit Usher In a Wave of City Bankruptcies?

July 23 (Bloomberg) -- Bloomberg Economic Editor Michael McKee examines whether Detroit's bankruptcy will unleash a wave of municipal filings as cities shoulder massive debts and pension obligations. He speaks on Bloomberg Television's "In The Loop."

Detroit is Just The Tip Of The Iceberg As Baby Boomers Retire , Is Ohio Next?

Is Ohio Next? Ohio Has 1400 Separate Income Tax!, Not Including State & Federal Income Tax!
Detroit Could Be Just The Tip Of The Iceberg As Baby Boomers Retire

Detroit Bankruptcy a Feeding Frenzy for Privatization?

Frank Hammer: Retirees, workers, and blacks will lose big as banks look to profit from debt collection and the privatization of one of America's largest cities
This was coming. And it's going to come to the rest of America. Don't think this is a done deal , This is the end result of an unsustainable way of life.

Detroit Bankruptcy 101

What does bankruptcy mean for Detroit? How bad is the situation in terms of city services? How did Motor City get into this position? WSJ's Jason Bellini has #TheShortAnswer.

Detroit Bankruptcy | Can Detroit Realistically Get Itself Out of Debt?

Detroit's bankruptcy petition paints a bleak picture for the Motor City. Host Rolfe Winkler talks to Jim Spiotto, a municipal bankruptcy attorney, for details. Photo: Getty Images.