The media duked it out to see who could post the story first. It’s no surprise to the savvy folks here in Detroit, especially after a bankruptcy pit bull was hired to come here and prepare the city for the topple. If I see one more headline “Largest Municipal Bankruptcy Ever,” my yawns will snap my jaw. As is often the case, Matthew Yglesias offers up an unsophisticated and lifeless assessment of the issue in about 190 dull-as-dishwater words. Ho hum. But he made it into the “firsters” club. All that Mr. Matt can put out there are meaningless factoids about a shrinking city and a shrinking tax base. I’ll quote him: “But the basic reason Detroit needs to do this is pretty simple.” Blah, blah, blah.
Really? Did he really write that? Highly, highly original. Yawn.
Everybody is an expert, but none of the “experts” actually come here to Detroit to understand the unfathomable political history, the prevailing political environment, or the amazing potential beyond the media images that showcase the same old baloney: ruin porn (please show me one more picture of the train station), population loss, industrial carnage, and the host of ostensible government saviors.
Interestingly, there are libertarian types here – locals – who are quietly celebrating the fact of bankruptcy. There. was. no. other. way. I am mindful of the phrase “be careful what you wish for,” but from a purely financial and ‘move forward’ perspective, this is the best case scenario. Some of my Detroit buds will not like me for the truth. I know you may be saying – where’s your substance? I’m just trying to make it on the tail end of the “firsters” club! Much more to come from me on this, but for now, going paddleboarding in the 90-something degree heat is my priority. Cross-posted at my Detroit: From Rust to Riches blog.5:18 pm on July 18, 2013 Email Karen De Coster