by meep
I’m getting a bit tired of all this doom-and-gloom (there is plenty to be found without trying hard), so I thought I’d highlight something good on Wednesdays for now.
So: the bankruptcy of Detroit.
WAIT! Don’t go!….
[…that’s what New York said...
by meep
I wrote this last night as I was on a flight from Nashville to NYC, having just finished Nathan Bomey’s Detroit Resurrected. As earlier promised, now that I’ve read the entire book, I’m doing a review. I will likely do a later review for publication in...
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Before I get to the stories, thanks to my referrers:
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It’s a good idea to check on predictions made. It turns out, I’m really horrible at it, even though I tried to reel it in a bit this year.
REVISITING PREDICTIONS
My prediction post has not fared well. Even if most of the predictions weren’t mine.
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People who know me well will tell you I can be quite the pedant re: English usage and precision in terminology. I usually don’t provide unsolicited editing of others’ work though, because: 1. I teach a writing course and get a lot of practice with poorly-written English there and...
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Looks like this week’s theme is government indebtedness beyond the main pension indebtedness I usually focus on.
First, let’s look at one entity I haven’t looked at at all before: Detroit public schools.
DETROIT PUBLIC SCHOOLS
The Detroit Public Schools have massive debt payments that dwarf their current...
by meep
Last week, Detroit’s bankruptcy plan was approved, and the judge overseeing the process has given “Detroit the go-ahead to implementing its bankruptcy exit plan.
Thing is, there are several clouds looming over Detroit, the main one being its pensions
But the pension system that the settlement leaves behind has some of...
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So on Wednesday (July 30), I watched a webinar from S&P about the one-year anniversary of the Detroit bankruptcy. I learned a lot of detail that people in the investment space are interested in, though a few of the political issues came up as well.
The thing is, while there...
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The main reason: Governments fail
A blogger has compiled a bunch of Google Street View images to demonstrate how some of Detroit’s neighborhoods have continued to deteriorate since the housing crisis.
Alex Alsup from Loveland Technologies published the astonishing images on his Tumblr called “goobingdetroit.” They show how drastically the...
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Calpers, the large California public pension plan, has filed an amicus brief in the case of Detroit’s bankruptcy.
Calpers does not like the Detroit pension plans being treated like unsecured creditors in a bankruptcy proceeding, and cites the constitutional (state constitutional, that is) protections for pensions. Thing is, there’s law,...
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