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In Four More Years We'll Be Detroit

Wumingren Wrote: Nov 18, 2012 12:42 AM
At age 60, I am one who does not expect to collect a dime from Social Security. I have been saving for my own retirement, putting cash away in a Roth IRA. I have been frugal. I have sacrificed. Now, there are rumors that Obama will nationalize all private retirement accounts. It's just another phase in his "redistribution of wealth" policy. I have scheduled a meeting with my financial advisor to see if I can protect my savings. I suspect that I will have to withdraw all my savings, at the cost of early withdrawal penalties and retroactive income tax levies, but saving a large chunk of my money is better than losing it all to a bunch of punks who never saved a penny in their miserable lives. I'm going Galt on their assses.

From one moment to the next the city of Detroit doesn’t know where its next bailout is coming from. Chronically unable to pay its bills, the city looks to the state for cash gifts to stave off default. Operating under the terms of a consent agreement hammered out with the state, Detroit faces fiscal uncertainty largely because it has failed to get adequate concessions from public employee unions that are unsustainable. And those concessions that they have wrested from unions, politicians in Detroit have been unwilling to enforce.     

One prominent Detroit attorney, however, is facing the future of the Motor...

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