Even as Michigan's Treasury prepares to begin another financial review of Detroit's books, a plan is being solidified in the governor's office that would guide Michigan's largest city through what is being called a managed bankruptcy.
Under Public Act 72, an emergency financial manager cannot move to abandon the city's financial workout plan in favor of bankruptcy until 180 days have passed. But the timeline to Chapter 9 filing can be accelerated if the city is in danger of running out of cash.
Still, bankruptcy for Detroit would require the governor to first appoint an emergency financial manager. The appointee would be charged with devising a financial plan, making it public and beginning the effort to execute it — unless the city's meager cash hoard runs out first.
From The Detroit News:
http://www.detroitnews.com/article/2012 ... z2FeNUCWqh
They adulterated us, your next princess.
From the left: The arms industry is massively subsidized by the American taxpayer. While the political establishment and media insist “there is no money” when it comes to jobs, decent wages, education and vital public services, endless billions are lavished on America’s merchants of death.
American working people neither share in this industry’s state-subsidized profits nor have any say over its sale of powerful weapons systems to reactionary regimes. Just as mass opposition emerged to the wars in Afghanistan and Iraq, there is similar popular hostility to arming the Saudi and UAE monarchs to the teeth, not to mention being dragged into yet another war, this time against Iran. The disappearance of any mass protest against war is a reflection not of popular sentiment, but rather of the reactionary politics of a privileged middle class layer of pseudo-lefts that deliberately worked to channel anti-war sentiment behind Obama and the Democratic Party.
With quad-witching tomorrow, we can only imagine the efforts the algos will be going to tonight to keep this afloat.
When pulling together means pulling away from God, an obedient Christian is willing to stand alone.
So it will be and I refuse to since the values are contrary to the values of our culture.
http://www2.econ.iastate.edu/classes/ec ... effect.pdf
More navel gazers will be destroyed.
http://www.tonsethhouse.net/DB/navels.shtml
They pick out a key 1968 event as being when America suspended the conversion of the dollar into gold except on request of foreign governments, which they identify as when the Bretton Woods system first began to break down.
Larry Elliott; Dan Atkinson (2008). The Gods That Failed: How Blind Faith in Markets Has Cost Us Our Future. The Bodley Head Ltd. p. 78.
ISBN 1-84792-030-6.