Friday, August 2, 2013

Detroit: Borrower is Slave to the Lender


The rich
rule over
the poor,
and the
borrower
is slave
to
the lender .
Proverbs


Bail out Detroit?
Well, you don't bail out anyone/anything until they demonstrate that they have changed their ways, have a firm grasp of financial responsibility, have honest leadership and can show a sound plan for recovery.
After they are bailed out, how will they remain afloat?
 Will they bring back manufacturing? How will the city sustain itself?
The American people, whose money they would be taking,need to see a definitive plan as to how that money will be used.

Detroit skyline at night
Since US citizens will be the ones paying the money for the bail out, they have a right to know how and where and why their money will be spent. They have the right to demand Detroit come up with a workable plan to fix itself and to let itself come under a kind of conservatorship to see that the plan is implemented honestly and without fail.
American citizens also then have a right to demand a return on their money in the form of a working,money
making city that will contribute to America rather than take from it.
Remember, the borrower is always a slave to the lender and rightly so. You indenture yourself when you borrow and must work to pay back what you have taken in one form or another.
Detroit could only pay back if they became powerhouse of business and manufacturing once again. 
Americans should also have the right to help choose those who will administer the city because how much of failure is due to corruption?  Probably most of it. 
In this case the majority of the lenders are opposed to bailing the city out.  Will that stop a bail out? It did not stop the misuse of American money in bailing out foreign banks and Wall Street, who should now be taxed on the money they earn, especially on derivatives which would pay the national debt off in record time!
A government of the people, by the people, for the people is a thing of the past, sadly.
Until NAFTA and other USA-punishing, manufacturing and business destroyers  are dumped, how can America be fixed anyway? 


A new national poll from Quinnipiac University shows that a majority Democrats believe the federal government should bail out Detroit, but an even larger majority of Americans oppose such a move. Fifty-one percent of Democrats support Washington providing federal assistance to Detroit, which last month became the largest American city ever to seek bankruptcy protection.

Not surprisingly, there is a strong partisan divide on the question of a federal bailout for the Motor City. Seventy-three percent of Republicans oppose a bailout, while only 18 percent support the idea. Independents are nearly of the same mind as Republicans on the issue: 68 percent oppose federal assistance for Detroit and 28 percent support it.
via real clear politics

What do you think about bailing out Detroit?

I am agreeable to bailing it out. Americans should receive the helping hand FIRST before foreign nations or people. And you don't allow your own house to crumble. However, I believe my idea on a plan and conservatorship should be in place.

2 comments:

  1. Detroit should sell its assets first, before any bailout, including the art

    ReplyDelete
  2. Essex7:44 PM

    I am all for bailing it out given your stipulations Lemon. If they put managers and conservators into place to make sure the money is used as it should be. I like your idea of a plan needing to be in place first.
    It is preferable to bail out America than foreign banks.

    ReplyDelete


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