California bankruptcies may offer Detroit lessons
Lansing -- The California city of Stockton became the nation's largest municipality to enter bankruptcy Monday in a case being closely followed in Detroit to see how retirees and creditors make out.
Join the discussion below, or Read more at The Detroit News.
#1 Apr 2, 2013
Take Stockton as an example. They went bankrupt. The crime rate is twice the national average. The demographic is quite racially diverse, but only about 10% white. Home values are around $183K.
So the crime doesn't seem to be from economics. Is it the lack of whites or the total % of minorities?
I also notice that the voters tended to be Obamacites.
#3 Apr 3, 2013
government doesn't seem to understand that axiom from economics which states.
"WHAT YOU TAX YOU GET LESS OF WHAT YOU SUBSIDIZE YOU GET MORE OF"
Now look around your city, state the country and you see the results of 55 years over taxing over regulating business by federal, state , county and city governments plus overly aggressive union bully tactics which have driven business overseas or out of business all together.
Government at every level has killed the golden business goose which was laying the golden profit eggs which kept this bloated fiscal mess afloat.
Then government at every level has over taxed the middle income tax payer taking too much money out of the economy and the hands of people who spend on and fuel the economy.
Then government at every level has subsidized people for doing nothing. Creating a whole subclass of people living off government.
add in the millions of illegal immigrants lowering wages for everyone by working for less than a livable wage, then applying for government assistance.
bottom line is there are too many unproductive people living in America off government assistance.
then add in the lawless negro mobs, street gangs, turning cities into lawless jungles. America is a lost cause. you can't walk the streets of some American cities any longer, so there goes another economic engine ( downtown shops & business) down the tubes.
they can't or won't long survive if customers are afraid of black looting gangs attacking stores & customers on the streets.
more cities states are going to be appearing in bankruptcy courts near you soon.
America is at a cross road where we have to decide who is going to run the streets , negro street mobs or citizens.
Detroit shows what happened when they allowed gangs to rule the gangs drove out the very people Detroit needed to stay alive vibrant.
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