Wednesday, July 24, 2013

I also believe the negligence of the State of Michigan regarding Detroit and needed bailouts is a civil rights issue as well.

I believe the reality of Minority Wealth in the USA and the ability to build that wealth, along with the fact there are large minority populations to receive pensions raises SPECIAL CASE scenarios for these proceedings.

Wayne County Population in 2011:

711,700. 

Population change since 2000: 25.2% Males: 336,696 (47.3%) 
Females: 375,004 (52.7%) 
Median resident age: 34.8 years Michigan median age: 45.5 years 

Estimated median household income in 2009: $26,098 (it was $29,526 in 2000)
Detroit:$26,098
Michigan:$45,255
Estimated per capita income in 2009: $14,213

Estimated median house or condo value in 2009: $67,000 (it was $62,800 in 2000)
Detroit:$67,000
Michigan:$132,200
Mean prices in 2009: All housing units: $97,288; Detached houses: $98,203; Townhouses or other attached units: $88,494; In 2-unit structures: $80,067; In 3-to-4-unit structures: $84,273; In 5-or-more-unit structures: $146,830; Mobile homes: $96,336; Occupied boats, RVs, vans, etc.: $58,006

Median gross rent in 2009: $749.


White alone, percent, 2010 - 10.6 percent                  Michigan 0 78.9 percent

Black or African American alone - 82.7 percent             Michigan 14.2 percent

American Indian and Alaska Native alone - 0.4 percent  Michigan 0.6 percent

Asian alone -  1.1 percent                                         Michigan 2.4 percent

Native American and Other Pacific Islander -  none or in the state

Two or more races - 2.2 percent                                  Michigan 2.3 percent
(Basically all live in Detroit)

Hisapanic or Latino - 6.8 percent                                Michigan 4.4 percent



White along, not Hispanic or Latino  7.8 percent           Michigan 76.6%


There has been no effort by the State of Michigan to mitigate the Detroit bankruptcy. They simply decided the best scenario was to rob everyone. I am curious the amount of minorities involved with the Bond Holders as well.

I believe Detroit has special circumstances that impact this bankruptcy. Leaving former employees in their own bankruptcies and impoverished retirements should never an issue. That is especially true in our minority populations.

The Detroit bankruptcy will have a 'rolling' effect. First the city, then bond holders, then the pensions and finally the employees and pensioners will all end up in bankruptcy. It is imprudent and is far to severe realizing the final scenario will have effects on the entire US economy. 

The US government spent $17.3 billion on the car bailouts.