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31-03-11, 15:22 | #1 |
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DEVILS NIGHT in DETROIT -Bankrupt Ghost Towns
America's Foreclosure Ghost Towns
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07-11-11, 05:01 | #2 |
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re: DEVILS NIGHT in DETROIT -Bankrupt Ghost Towns
It has deteriated a lot more since I posted this thread, so very sad for the Americans
Click here for more; END OF AMERICA Quote (UK British MP Tony Benn, many years ago) "In history every great Empire has fallen, America, in the future, will follow."
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08-11-11, 20:46 | #3 |
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re: DEVILS NIGHT in DETROIT -Bankrupt Ghost Towns
Its a bloody shame the homeless can't live in them!!!!!!!!!!!!!!
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10-11-11, 01:00 | #4 |
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re: DEVILS NIGHT in DETROIT -Bankrupt Ghost Towns
Most certainly pop, could not agree with you more.
Its happening here in Australia too, as well as a lot of homes having their electricity cut off from failure to pay. Hey What? Those in authority are asking why? Must have idiots in power who don't know that answer, the price for electricity is too high. Its plain, its simple and its the truth. Foreclosures achieve nothing, the banks are owed 100's of thousands of dollars when they foreclose, and what in the hell will the banks do with more houses than they can shake a stick at???? Who's to blame for all this misery? Corporation greed! and that's the truth.
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19-05-13, 21:06 | #5 |
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re: DEVILS NIGHT in DETROIT -Bankrupt Ghost Towns
& things have become worse since I originally started this thread
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18-07-13, 23:18 | #6 | ||
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re: DEVILS NIGHT in DETROIT -Bankrupt Ghost Towns
Detroit Becomes Largest US City to File for Bankruptcy BBC News, 18 July 2013 Last updated at 22:50 GMT Detroit has lost a quarter of a million residents in the past decade The US city of Detroit in Michigan has become the largest American city ever to file for bankruptcy, with debts of at least $15bn (£10bn). State-appointed emergency manager Kevyn Orr asked a federal judge to place the city into bankruptcy protection. If it is approved, he would be allowed to liquidate city assets to satisfy creditors and pensions. Detroit stopped unsecured-debt payments last month to keep the city running as Mr Orr negotiated with creditors. He proposed a deal last month in which creditors would accept 10 cents for every dollar they were owed. Mr Orr suggested at the time there was a 50-50 chance of the city needing to file for bankruptcy. He also said the city's long-term debt could be between $17bn and $20bn. 'Only Alternative' At a press briefing on Thursday, Mr Orr said filing for bankruptcy was the "first step toward restoring the city". Alongside him, Detroit Mayor Dave Bing said that residents had to make a new start. "I really didn't want to go in this direction - but now that we are here, we have to make the best of it," Mr Bing said. The mayor also assured residents that the city would stay open and bills would be paid despite the filing. "Paychecks for our city employees will continue, services will continue," he said. In a letter accompanying Thursday's filing, Michigan's Governor Rick Snyder, a Republican, said he had approved the request from Mr Orr to file for Chapter 9 bankruptcy. "Only one feasible path offers a way out," Gov Snyder said, adding that residents needed a clear exit from the "cycle of ever decreasing services". "The only way to do those things is to radically restructure the city and allow it to reinvent itself without the burden of impossible obligations. "It is clear that the financial emergency in Detroit cannot be successfully addressed outside of such a filing, and it is the only reasonable alternative that is available". Meanwhile, the White House said it was closely monitoring developments in Detroit. "While leaders on the ground in Michigan and the city's creditors understand that they must find a solution to Detroit's serious financial challenge, we remain committed to continuing our strong partnership with Detroit as it works to recover and revitalise and maintain its status as one of America's great cities," said White House spokeswoman Amy Brundage. Analysts say there are some concerns that businesses might ditch their operations in Detroit. But, in the wake of the filing, US car company General Motors said it did not expect any impact on its operations, and hoped it would mark a "clean start" for Detroit. "GM is proud to call Detroit home and today's bankruptcy declaration is a day that we and others hoped would not come," the company said. The city, once renowned as a manufacturing powerhouse, has struggled with its finances for some time, driven by a number of factors, including a steep population loss. Between 2000-10, the number of residents declined by 250,000 as residents moved away. Detroit's government has also been hit by a string of corruption scandals over the years. Declining investment in street lights and emergency services have made it difficult to police the city. Detroit is only the latest US city to file for bankruptcy in recent years. In 2012, three California cities - Stockton, Mammoth Lakes and San Bernardino - took the step. In 2011, Harrisburg, Pennsylvania tried to file for bankruptcy but the move was ruled illegal. But Thursday's move in Detroit is significantly larger than any of the earlier filings. Quote:
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Very sad RELATED: Schiff: 2/3 of America to Lose Everything Because of This Crisis By Money Morning Staff A record breaking stock market is distorting a frightening reality: The U.S. is being eaten alive by a horrific cancer that will ultimately destroy the economy and impoverish the vast majority of its citizens. That's according to Peter Schiff, the best-selling author and CEO of Euro Pacific Capital, who delivered his harsh warning to investors in a recent interview on Fox Business. "I think we are heading for a worse economic crisis than we had in 2007," Schiff said. "You're going to have a collapse in the dollar...a huge spike in interest rates... and our whole economy, which is built on the foundation of cheap money, is going to topple when you pull the rug out from under it." Schiff says that, despite "phony" signs of an economic recovery, the cancer destroying America stems from a lethal concoction of our $16 trillion federal debt and the Fed's never ending money printing. Currently, Bernanke and company is buying $1 trillion of Treasury and mortgage bonds a year. That's about $85 billion per month against a budget deficit that is about the same level. According to Schiff, these numbers are unsustainable. And the Fed has no credible "exit strategy." Eventually interest rates will rise... and when they do, Schiff says, stocks will tank and bonds dip to nothing. Massive new tax hikes will be imposed and programs and entitlements will be cut to the bone. "The crisis is imminent," Schiff said. "I don't think Obama is going to finish his second term without the bottom dropping out. And stock market investors are oblivious to the problems." "We're broke, Schiff added. "We owe trillions. Look at our budget deficit; look at the debt to GDP ratio, the unfunded liabilities. If we were in the Eurozone, they would kick us out." Schiff points out that the market gains experienced recently, with the Dow first topping 14,000 on its way to setting record highs, are giving investors a false sense of security. "It's not that the stock market is gaining value... it's that our money is losing value. And so if you have a debased currency... a devalued currency, the price of everything goes up. Stocks are no exception," he said. "The Fed knows that the U.S. economy is not recovering," he noted. "It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode." A noted economist, Schiff has been a fierce critic of the Fed and its policies for years. And his warnings have proven to be prophetic. In August 2006, when the Dow was hitting new highs nearly every day, Schiff said in an interview: "The United States is like the Titanic, and I'm here with the lifeboat trying to get people to leave the ship... I see a real financial crisis coming for the United States." Just over a year later, the meltdown that became the Great Recession began, just as Schiff predicted. He also predicted the subprime mortgage bubble burst, nearly a year before the real estate market fully crashed. His recent warnings, however, have been even more alarming. Will they also prove to be true? In his most recent book, "The Real Crash" How to Save Yourself and Your Country", Schiff writes that when the "real crash" comes," it will be worse than the Great Depression. Unemployment will skyrocket, credit will dry up, and worse, the dollar will collapse completely, "wiping out all savings and sending consumer prices into the stratosphere." Schiff estimates this "cancer" could consume a trillion dollars from consumers this year. "Today we're the world's greatest debtor nation. Companies, homeowners and banks are so highly leveraged, rising interest rates will be devastating." According to polls, the average American is indeed sensing danger. A recent survey found that 61% of Americans believe a catastrophe is looming - yet only 15% feel prepared for such a deeply troubling event. Is Devastation The Ultimate Cure? Despite its bleak outlook, Schiff's book has become a real wake-up call for millions of readers. While Schiff's predictions can be grim, he also offers step-by-step solutions that average Americans can follow to protect their wealth, investments and savings. According to Schiff, "the crash and what follows" can be beneficial. But only for those who understand beforehand what is happening and have time to prepare for the devastation. "All we can do now is prepare for the crash," Schiff said. "If we brace ourselves properly and control the impact, we will survive it." .
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19-07-13, 01:09 | #7 |
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re: DEVILS NIGHT in DETROIT -Bankrupt Ghost Towns
Motor City Finally Runs out of Gas: Detroit has Debts of $20 BN
Detroit's Beautiful, Horrible Decline Bust: After its boom years Detroit began a steady decline Industry: Factories such as the Packard Automotive Plant, which helped Detroit become wealthy, are now abandoned A team of financial experts put together by Mr Orr said that proposal was Detroit's one shot to permanently fix its fiscal problems. Several factors, most notably sharp declines in the population and tax base, have been blamed on Detroit's tumble toward insolvency. The city lost a quarter of a million residents between 2000 and 2010. A population that, in the 1950s, reached 1.8 million is struggling to stay above 700,000. Desolate: The once-thriving city is struggling to convince residents to stay Abandoned: Iconic buildings, such as Michigan Central Train Station, are deserted and residents are leaving Photos below from Yves Marchand and Romain Meffre, Time Magazine Michigan Central Station Detroit's main train station, opened in 1913, has not been used since 1988. William Livingstone House Constructed in 1893 in the once elegant Brush Park neighborhood, this home, designed by architect Albert Kahn, was moved from its original location several years ago by preservationists who hoped to maintain it. It was demolished last year. St. Margaret Mary School Many of the city's Catholic schools have been closed, though the churches they are affiliated with remain active. David Broderick Tower One of the city's most prominent skyscrapers, this 35-story tower once housed the offices of many doctors, lawyers and dentists. It has been virtually empty since the 1980s. Developers hope to convert the building to residential units by 2010 United Artists Theater This spectacular Spanish Gothic theater, built in 1928, was closed in the 1970s. Packard Plant Luxury-auto maker Packard produced its last car here in 1956 Lee Plaza Hotel Once one of the most luxurious residential hotels in Detroit, Lee Plaza closed in the 1990s. Lee Plaza Hotel Room Marchand and Meffre found a lot of furniture and appliances left behind. Wilbur Wright School This public school closed in 2005. Remains of a Deserted City On their website, the photographers write, "Ruins are the visible symbols and landmarks of our societies and their changes ... the volatile result of the change of eras and the fall of empires. This fragility leads us to watch them one very last time: to be dismayed, or to admire, it makes us wonder about the permanence of things." END More PHOTOs: Detroit Ruins from DetroitDerek Photography ... .... ... ... ... ... ... ... ... ... ... ... ... What's Left of the Historic Eastown Theater in Detroit ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... Abandoned Train Station ... Abandoned Church .
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28-10-22, 16:01 | #8 |
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Re: DEVILS NIGHT in DETROIT -Bankrupt Ghost Towns
Abandoned Detroit - The City of Neglect
DETROIT, MICHIGAN MOST DANGEROUS HOODS & DEVILS NIGHT in DETROIT The Guardian UK 28 OCT 2022 Abandoned Detroit: The City of Neglect The name itself may sound familiar to many people when they think of Detroit, Michigan. Detroit has always been heavily scrutinized and criticized in the media for all the problems the city has gone through over the years; from a booming 1920’s industrial icon, to a city that lost over one million people by the 1970’s, to when the city was financially bankrupt in the late 2000’s. When people think of urban decay and abandoned buildings, Detroit is usually right at the top of that list. Abandoned Detroit: The City of Neglect is a documentary that is rare, unique, and never been done before. Sure, there have been many documentaries and movies about the City of Detroit, but none are more comprehensive and extensive as this project. This documentary follows the life of an urban explorer, named Detroit Unseen, who travels the country to explore, photograph, and document abandoned buildings. Detroit Unseen was the perfect candidate for this documentary because he has been urban exploring for 13 years and although he has travelled all over the country, he has been documenting the City of Detroit over that same time period. Many of the once iconic structures and buildings that he was able to photograph, have since been demolished, ruined, renovated, or restored. After watching this documentary, one thing becomes clear. Detroit was a city that was on the verge of extinction and is now making its way into the history books as a city that made a miraculous comeback. This is not just another project focused on the negative aspects of Detroit. Although many people feel that the abandoned buildings and urban decay are negative things, we look at them as beautiful, unique pieces of history, art, and architectural craftsmanship. We will be showcasing the history of Detroit and how the city ended up with all the abandonment, as well as how we can save the buildings from being demolished or ruined, by repurpose, restoration, and renovation. We feel that we need to preserve our history and many of the majestic pre-depression era buildings are disappearing at an alarming rate. This documentary truly represents 13 years of entering and photographing these historic structures. Despite sometimes being saddened by a lost building or a loss of history and culture, documenting the changes is vital. Abandoned Detroit: The City of Neglect helps document these changes. We hope that in the coming years as city planners, investors, stakeholders, and speculators make way for progress, Detroit can hold on to its rich culture and iconic history. Detroit is as iconic as America itself and its story is not just shining images of what is to come. With Detroit you take the good with the bad, recognize the good as it comes and preserve the good that has come before. Many that enter the City of Detroit can sense the urgency of change and the spirit of reinvention. We certainly understand this, and the photos represent what we have seen along the way. The Flag of Detroit contains the two Latin slogans “Speramus Meliora” and “Resurget Cineribus” meaning “We hope for better things” and “It will rise from the ashes.” The prophetic phrases originally created in reference to the great fire of 1805, ring true more now than ever. We take these slogans to heart everyday as we go out and explore our great city.
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