Monday, August 26, 2013

Detroit is a sell-out

When I first started reading about the problems with Detroit's economy, it became pretty clear that the governor was manipulating the situation in order to reward his rich friends. I suspect that the sell-off of a lot of Detroit's assets is intentional - get more publicly owned goods (museum pieces, property, etc.) into the hands of investors hoping to make a killing - take it out of the hands of the public. The greed is destroying our nation.

From Carolina Naturally
(Click HERE to read more)

Detroit Is Beta-Test of the repugican cabal's Plan To Sell The Federal Government to Corporations

In the software world, the concept behind beta-testing is an external pilot-test of a product before commercial quantity production for public consumption. During the beta test stage, a product has already passed an internal pilot-test where glaring defects have been removed, but since the product may still have some minor problems that require user participation, it is released to selected customers to test under normal, everyday conditions to spot and correct remaining flaws. The repugicans have long sought to privatize government, and they have given indications that their penchant for restricting revenue sources and creating phony debt crises is part of their anti-government agenda to manufacture a scenario where the government is bankrupt to give corporations the opportunity to buy-out government assets and programs for a profit.

On Thursday, the first beta-test of selling off a city to corporations began in earnest when an emergency manager in Detroit filed for bankruptcy, and it is a harbinger of the repugicans' plan for the federal government. The repugicans have long sought to sell off government assets they claim are prohibitively expensive to private, for-profit enterprises they claim are better equipped to administer them because they will base operations on sound corporate business models. What Detroit is experiencing is the Bain Capital vulture capitalist tactic of taking over a company, leveraging it with debt, declaring bankruptcy, and selling off assets and firing union employees all while turning a profit. Michigan governor Rick Snyder followed Bain's tactics in appointing his cohort to lead the city, disband the government, and create conditions allowing the emergency manager to declare the city bankrupt to sell off assets allegedly to satisfy creditors.

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