Black People : The Power Struggles Over Detroit's Future Go On!

Discussion in 'Black People Open Forum' started by chuck, Jul 21, 2013.

  1. chuck

    chuck Well-Known Member MEMBER

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  2. jamesfrmphilly

    jamesfrmphilly going above and beyond PREMIUM MEMBER

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    :11100: remove all conservatives and republicans from public office…….vote!
     
  3. Alarm Clock

    Alarm Clock Well-Known Member MEMBER

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    Published on Tuesday, July 23, 2013 by Beat the Press / CEPR
    Detroit and Goldman Sachs: Makers and Takers
    by Dean Baker
    By now everyone has heard about Detroit's bankruptcy. One of the big bills in the city's payable box is the $3.5 billion in unfunded pension obligations. The story in many people's minds is that overly generous public sector wage and benefit packages pushed the city over the brink.[​IMG]Goldman Sachs CEO Lloyd Blankfein. (File)
    It's worth looking at this one a bit more closely. According to the city, the average retiree gets a pension of $18,275. That's better than many workers, but $1,500 a month in pension benefits will not put anyone on the Riviera. That's coupled with pay that averages less than $42,000 for active city workers. (They accepted a 10 percent pay cut last year.)
    It's often difficult to get a sense of the meaning of numbers without a base of comparison. In order to know whether Detroit pensions are a lot or a little we can compare them to the pay at an organization that gets substantial support from the government, Goldman Sachs.
    http://www.commondreams.org/view/2013/07/23-1
     
  4. chuck

    chuck Well-Known Member MEMBER

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    Other cities had their Urban Rebellions, and their whites didn't bail in droves, too...

    I. e., Detroit was abandoned, and yet again our folk conned into propping it up, while others bled it to fund their dreams/schemes/etc. in the the then lily white suburbs etc.

    The flip side is what goes around does come around...

    Some were and are having take back Detroit because they need not want to...

    FYI...
     
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