Going Bananas As The Fiscal Year Ends
I can imagine Inigo Montoya sipping his rum. He contemplates, then chuckles. He pulls a bit on his mustache as President Obama’s teleprompter bromides blare out of his television. “He uses this phrase banana republic.” Inigo muses. “I do not think he knows what it means.”
You can use the term in a number of ways. As catchy bits of jargon get run through the political mill until shopworn, it’s perhaps quite accurate of Montoya to question whether anyone knows what banana republic means. I tend to think their clothes are overrated. My wife, on the other hand, always appreciates a $100 gift card. All jesting aside, when the American author O. Henry invented Archuria, he had a very specific type of dystopia in mind.
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Dear Kevyn Orr, Emergency Manager for Detroit
Dear Mr. Orr, You have an unprecedented opportunity before you. Even though the city of Detroit is billions of dollars in debt, as the emergency manager, you have a way to dispense with one particularly enormous financial burden which has contributed greatly to the city’s fiscal insolvency. You are reportedly at at odds with the unions over the total amount that union’s two pension system | Read More »
Many Miles Away From Syria
We can lay the viper-struck waste that is Syria aside for the nonce. Unless the House of Representatives holds an epic fold, we aren’t going to Syria with Congressional authorization. If we currently have 187 Neas, 33 Yeas and 215 Undecideds, a 435 vote session should end up about 290 Nea to 145 Yea. Also, we have much, much bigger things to worry about. Like | Read More »
Terrible Side Effect of Detroit Bankruptcy: 50,000 Homeless Dogs
There are many sad stories coming out of Detroit in the wake of its bankruptcy. Entire neighborhoods abandoned, thousands without jobs, a city without services, it’s a depressing and deserted place, a shadow of the the once great Motor City it used to be. Today a story in Bloomberg shines some light on a terrible side effect of Detroit’s economic collapse that many are unaware | Read More »
The “Consider This!” Podcast, Episode 50: ObamaCare Proponents Want Exemptions, Capitalism Saving Detroit, and Judge Mandates Same-Sex Marriage in Ohio
The latest episode of the “Consider This!” podcast is out. Conservative commentary in 10 minutes or less. I’m at half a hundred episodes with this one. Another big milestone. The lawmakers who passed the bill and the unions who promoted the bill all want exemptions from complying with the bill. “The bill”, of course, is ObamaCare(tm). But I thought that the more people who were a part | Read More »
The “Consider This!” Podcast, Episode 49: What the Detroit Bankruptcy Has To Say To Us
The latest episode of the “Consider This!” podcast is out. Conservative commentary in 10 minutes or less. Just one topic this time around. I tackle the Detroit bankruptcy and what is has to say about political policies in other cities, in the US, and, actually, any country around the world. Detroit, Michigan, formerly the auto-making capital of the US, if not the world, filed for chapter 9 | Read More »
Detroit, Europe and Krugman-defined optional austerity
Decreases in annual increases of big government budgets do not “austerity” measures make and are not the reason that the, rightly-named-by-Nobel-Prize-winning-economist Paul Krugman, economic Depression continues in most of Europe and the United States. President Richard Nixon actually didn’t say that “We are all Keynesians now” after taking the United States off the gold standard in 1971 and otherwise ensuring that Hubert Humphrey-Democrats got the | Read More »
, Barack Obama
, John Maynard Keynes
, Keystone XL
, Labor Unions
, National Debt
, New Deal
, Paul Krugman
, shovel-ready jobs
What Other Cities Can Learn from Detroit’s Bankruptcy
On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Cate Long to discuss Detroit’s bankruptcy, the state constitutional challenges it faces and what other cities can learn from Detroit.
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Spending tomorrow’s money is easy
The short explanation for the demise of Detroit is that time caught up with it. Decades of corruption built a mountain of liabilities, while scaring off the taxpayers needed to finance those promises. It’s like a movie trailer for the blockbuster disaster film to come, when America’s declining demographics catch up with the federal government’s vastly higher mountain of unfunded commitments. Detroit is the city | Read More »
Causation, Correlation and Detroit
Let us stipulate that the collapse of Detroit, MI and its recent Chapter Nine bankruptcy filing represents an all-American train wreck of inexcusable dimension. Detroit went from being considered by some the Athens of The West to having a credit rating and crime problem more reminiscent of the Mogadishu of The Midlands. So many people are blamed for the current state of Detroit. But most of what you read is patently illogical.
Those who have no desire to deal with the truth tend to deliberately invert the mechanisms by which Detroit, MI was reduced to an ash heap reminiscent of Hiroshima without the expenditure of thermonuclear ordnance. The general technique of obscuring what went wrong in Detroit is to deliberately conflate causation with correlation. I’ve read a lot of biased writing over the last few days about Detroit. In every case, the thesis of the article, editorial, or blog post involves describing a result of Detroit’s stupidity as the fountainhead of the stupid itself.
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The Wealthy’s Fast-Pass Lifestyle
On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss more on Detroit’s bankruptcy, one-percent playtime consultants and the reality gap between the wealthy and the rest of America.
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Stupid Liberal Quote of the Day- July 23rd Edition
As everyone is aware, the city of Detroit declared bankruptcy. There is no shortage of reasons being proffered about ranging from the obvious decline of the auto industry, sweetheart public union worker deals, poor city planning dating back decades, and mismanagement at best and corruption at worst regarding city leadership. But, lurking behind it all according to the Left is those mean old Republicans and | Read More »
Detroit Goes Bust
On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss Detroit’s bankruptcy filing, if the unions will take a harder hit than the bond owners and what kind of national precedence this bankruptcy may set.
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Detroit: A Progressive Utopia
I grew up in Detroit. I went to high school in what can be considered an ‘inner ring’ suburb, went to college at the University of Michigan nearby, and did my graduate work at Wayne State University downtown. After medical school, I came back and did residency outside of Detroit, and even finished my residency up in Flint, MI. My parents still live in the | Read More »
Detroit files for bankruptcy (with apologies to William Butler Yeats).
So. Detroit has filed for bankruptcy. Ahem. Deeper and deeper in its gathered regret The city cannot bear its crushing debt; Things fall apart; Blue Models cannot stand; Smith’s virtuous Fist is loosed upon the land, The bankruptcy is loosed, and everywhere The solvency of proud Detroit is drowned; The Left lacked all competence, while the Right Was kept away, per standard policy. Surely some | Read More »