Detroit is officially broke!

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SMS

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Heading up there soon for my son and daughter's Junior Olympic competitions...glad Michigan honors OK's permit.
 

XD-9Guy

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What's going to happen to all of those who paid into Social Security all their lives when it goes teats up? We are all headed for a wall at 100 mph.

I've known since HS that SS will do nothing for me, my money is paying for the baby boomer generation and there isn't enough to go around. Anyone under 40 right now is fooling themselves if they expect SS to pay them a darn thing.
 

n2sooners

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Wonder whats going to happen to all those bloated union pensions........

It will probably be like the auto union... I mean GM bankruptcy. The real creditors will be sent to the back of the line while the unions are bailed out in spite of what the law says. And either the state or federal government will be stuck with the rest of the bill.
 

criticalbass

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Conversation between an American industrialist (AI) and and a Japanest industrialist (JI):

AI: "Why are you so vicious in your trade practices?"

JI: "You couldn't possibly understand. We never destroyed one of your cities."

AI: "Oh yeah? What about Detroit?"

Old joke that has new relevance.

Do notice that the big auto makers are doing okay now, and that the little guys are going to get screwed.
 

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