Is New York City the Next Detroit?

[American_Jihad]

The way they vote, it wouldn't surprize me...

Is New York City the Next Detroit?

July 31, 2013 By Daniel Greenfield

Shortly, New York may be ruled by a governor who helped cause the financial meltdown, while New York City may have a mayor who was forced to resign from Congress and its comptroller will be a former governor who was forced to resign for transporting a prostitute across state lines. He will be replacing the current comptroller who may go to jail for campaign finance fraud.

All of that sounds like an elaborate setup to a punch line. And it is.

New York State has the 33rd highest unemployment rate in the country. New York City’s unemployment rate is even higher at 8.3%. In June, New York City, with a population of 8 million, added just 3,100 jobs. Most of those jobs were in the city’s tourism trade which bulks up during the summer.

While Bloomberg was playing hooky, using city resources to push gun laws in other states, the specter of Motown was creeping over the Big Apple.

New York City comes in second on the list of cities with the largest unfunded pensions. After Detroit.

...

Is New York City the Next Detroit? | FrontPage Magazine

 

[RoadVirus]

I see Shitcago reaching the same fate as Detroit next.

 

[CrusaderFrank]

Rudy actually prevented that from happening. Dinkins had us on a path that would have beat Detroit into bankruptcy.

If Quinn becomes Mayor, it's

[ame=http://www.youtube.com/watch?v=dsx2vdn7gpY]Game Over Man, GAME OVER! - YouTube[/ame]

 

[High_Gravity]

I can't see it, too much money goes through New York.

 

[Redfish]

the state of california wil be the next detroit. maybe we could sell it to mexico for a few hundred barrels of oil. or maybe a truck load of tortillas.

 

[Sallow]

You folks are truly delusional.

The entire country sticks it's stinking hands into the new york pie.

 

[Soggy in NOLA]

Detroit, Chicago, NYC, CA, etc. are just microcosms of the bigger picture.. which is of course the failure that is the welfare state.

It just doesn't work... never has, never will.

 

[NoTeaPartyPleez]

The way they vote, it wouldn't surprize me...

Is New York City the Next Detroit?

July 31, 2013 By Daniel Greenfield

Shortly, New York may be ruled by a governor who helped cause the financial meltdown, while New York City may have a mayor who was forced to resign from Congress and its comptroller will be a former governor who was forced to resign for transporting a prostitute across state lines. He will be replacing the current comptroller who may go to jail for campaign finance fraud.

All of that sounds like an elaborate setup to a punch line. And it is.

New York State has the 33rd highest unemployment rate in the country. New York City’s unemployment rate is even higher at 8.3%. In June, New York City, with a population of 8 million, added just 3,100 jobs. Most of those jobs were in the city’s tourism trade which bulks up during the summer.

While Bloomberg was playing hooky, using city resources to push gun laws in other states, the specter of Motown was creeping over the Big Apple.

New York City comes in second on the list of cities with the largest unfunded pensions. After Detroit.

...

Is New York City the Next Detroit? | FrontPage Magazine

Ah....another rightwing blogger posing as news I see. ( Love that tagline about liberals and totalitarianism on the FrontPage masthead.)
Ahem....As someone who lives in the metro area, all I can say is, check the prices for real estate in Manhattan. Start there and then...get back to us, Sparky.

 

[NoTeaPartyPleez]

You folks are truly delusional.

The entire country sticks it's stinking hands into the new york pie.

Yup. New York City is booming. I get the Times every single day and it's even outrageously expensive to live in Queens these days. Real estate market is booming, lots of jobs, no problems in the BIg Apple. You know a city can indulge itself when they humor a guy like Anthony Weiner to run for mayor.

 

[NoTeaPartyPleez]

the state of california wil be the next detroit. maybe we could sell it to mexico for a few hundred barrels of oil. or maybe a truck load of tortillas.

California has its problems but they are mainly in the central valleys, not the coast. Note that San Fran and L.A. are having housing booms. Bidding wars. The coastal cities will pull the interior regions out of the doldrums.

 

[B. Kidd]

To answer the OPs' question, just look at the metro areas that have largest population losses resulting in an eroded tax base.
Based on this, St. Louis/Cleveland/Pittsburgh are the strong frontrunners to be the next Detroit.

 

[deltex1]

Too many Jews there...

 

[Redfish]

the state of california wil be the next detroit. maybe we could sell it to mexico for a few hundred barrels of oil. or maybe a truck load of tortillas.

California has its problems but they are mainly in the central valleys, not the coast. Note that San Fran and L.A. are having housing booms. Bidding wars. The coastal cities will pull the interior regions out of the doldrums.

The state is broke. Where will the money come from? Higher taxes? Businesses are already leaving for more tax-friendly states.

Where will the money come from??????????? tell us.

 

[deltex1]

Not that there's anything wrong wid dat...

 

[Mr Natural]

NYC is the Center of the Universe.

Tourism dollars alone could keep it going indefinitely.

 

[Redfish]

You folks are truly delusional.

The entire country sticks it's stinking hands into the new york pie.

I sort of agree with you, there are several other cities and states that will be bankrupt before NY

 

[Smilebong]

Good article [MENTION=36934]American_Jihad[/MENTION]

This was interesting.

New York City debt doubled under Bloomberg to $110 billion. That’s nearly four times Bloomberg’s own net worth. The interest on that debt is at $6 billion. Three years of interest on New York City’s debt equals the debt that drove Detroit into bankruptcy court.

 

[Redfish]

NYC is the Center of the Universe.

Tourism dollars alone could keep it going indefinitely.

right, tourists are jumping over each other to pay $30 for a pastrami sandwich and $500 for a crappy hotel room.

 

[Katzndogz]

the state of california wil be the next detroit. maybe we could sell it to mexico for a few hundred barrels of oil. or maybe a truck load of tortillas.

Los Angeles has considered bankruptcy several times but cut maintenance to pay the pensions. LA is one breakdown away from being the next Detroit.

 

[Two Thumbs]

The way they vote, it wouldn't surprize me...

Is New York City the Next Detroit?

July 31, 2013 By Daniel Greenfield

Shortly, New York may be ruled by a governor who helped cause the financial meltdown, while New York City may have a mayor who was forced to resign from Congress and its comptroller will be a former governor who was forced to resign for transporting a prostitute across state lines. He will be replacing the current comptroller who may go to jail for campaign finance fraud.

All of that sounds like an elaborate setup to a punch line. And it is.

New York State has the 33rd highest unemployment rate in the country. New York City’s unemployment rate is even higher at 8.3%. In June, New York City, with a population of 8 million, added just 3,100 jobs. Most of those jobs were in the city’s tourism trade which bulks up during the summer.

While Bloomberg was playing hooky, using city resources to push gun laws in other states, the specter of Motown was creeping over the Big Apple.

New York City comes in second on the list of cities with the largest unfunded pensions. After Detroit.

...

Is New York City the Next Detroit? | FrontPage Magazine

No.

NYC would never allow a rep or a moderate dem become Gov, therefore they will get the Fed money they want.

yes, people living in HI will be paying to keep NYC going.