Liberal Forum

Birmingham, the largest metropolitan area in the UK outside of London, has effectively declared itself bankrupt as its city council shut down all non-essential spending after being hit with a potential $956 million equal pay settlement bill.In a statement on Tuesday declaring itself as being in financial distress, Birmingham City Council said it will “tighten the spend controls already in place” and appoint an external administrator to oversee short-term fiscal planning.“In June, the council announced it had a potential liability relating to equal pay claims in the region of £650m to £760m ($816m to $956m), with an ongoing liability that is accruing at a rate of £5m to £14m ($6.3m to $17.5m) per month,” the statement said.It added that the council “does not have the resources” to pay the outstanding sum but is “committed to dealing with the financial situation.” The body also said that all new spending is to be ceased, except support to vulnerable people and various statutory services.

https://www.rt.com/news/582465-uk-birmi ... -bankrupt/

Here is a glimpse of America's future if the left remains in power ......

Majik » 06 Sep 2023, 8:40 am » wrote: ↑

06 Sep 2023, 8:40 am

Birmingham, the largest metropolitan area in the UK outside of London, has effectively declared itself bankrupt

10 American cities on the verge of bankruptcy.  I would not live in any of these cities if I were you. 

• New York City - Grade F
• Chicago  - Grade F
• Honolulu - Grade F
• Portland - Grade F
• New Orleans - Grade F
• Philadelphia - Grade F
• St. Louis - Grade D
• Dallas - Grade D
• Pittsburgh - Grade D
• Miami - Grade D

Mostly has to do with cities running huge debts due to unfunded pensions.  The Commies have had their grubby little hands in the coffers of these cities for years.

Of course, all of Russia has already defaulted on its foreign debt for the first time since the Bolshevik Revolution in 1918.  Their credit rating is in the ****, money is near-worthless and real interest rates are through the roof.   In other words, you are much safer investing in Chicago bonds than anything floated out of Russia.  Now, THAT'S pathetic!!!

Skans » 06 Sep 2023, 8:47 am » wrote: ↑

06 Sep 2023, 8:47 am

10 American cities on the verge of bankruptcy.  I would not live in any of these cities if I were you. 

• New York City - Grade F
• Chicago  - Grade F
• Honolulu - Grade F
• Portland - Grade F
• New Orleans - Grade F
• Philadelphia - Grade F
• St. Louis - Grade D
• Dallas - Grade D
• Pittsburgh - Grade D
• Miami - Grade D

Mostly has to do with cities running huge debts due to unfunded pensions.  The Commies have had their grubby little hands in the coffers of these cities for years.

With the exception Dallas, they are all Dimocrat run. 

Vegas » 06 Sep 2023, 8:51 am » wrote: ↑

06 Sep 2023, 8:51 am

With the exception Dallas, they are all Dimocrat run.

Dallas also has its share of filthy communists.  The reason Dallas is in trouble is because of dormant retirement obligations and negative equities market returns affecting Dallas’ fiscal health, leaving the city with $5.9 billion in debt. This figure amounts to $14,700 needed from each taxpayer to get Dallas out of trouble.

Perhaps @impartialobserver  will chime in on this.  Or, it may be too close to home for him.

Skans » 06 Sep 2023, 8:47 am » wrote: ↑

06 Sep 2023, 8:47 am

10 American cities on the verge of bankruptcy.  I would not live in any of these cities if I were you. 

• New York City - Grade F
• Chicago  - Grade F
• Honolulu - Grade F
• Portland - Grade F
• New Orleans - Grade F
• Philadelphia - Grade F
• St. Louis - Grade D
• Dallas - Grade D
• Pittsburgh - Grade D
• Miami - Grade D

Mostly has to do with cities running huge debts due to unfunded pensions.  The Commies have had their grubby little hands in the coffers of these cities for years.

Of course, all of Russia has already defaulted on its foreign debt for the first time since the Bolshevik Revolution in 1918.  Their credit rating is in the ****, money is near-worthless and real interest rates are through the roof.   In other words, you are much safer investing in Chicago bonds than anything floated out of Russia.  Now, THAT'S pathetic!!!

Detroit already went through this "bankruptcy" and lived.

https://www.npr.org/2023/07/22/11890935 ... ack-hurdle

I don't go there anymore. Sure, there's an island in the middle of the **** but I worked in Detroit long enough.
Got tired of it.
Grand River Ave into downtown was always a trip through a 20+ mile economic kaleidoscope.

DeezerShoove » 06 Sep 2023, 9:12 am » wrote: ↑

06 Sep 2023, 9:12 am

Detroit already went through this "bankruptcy" and lived.

https://www.npr.org/2023/07/22/11890935 ... ack-hurdle

I don't go there anymore. Sure, there's an island in the middle of the **** but I worked in Detroit long enough.
Got tired of it.
Grand River Ave into downtown was always a trip through a 20+ mile economic kaleidoscope.

Well, I might argue whether Detroit "lived".  Their bonds are still junk-bond status and the city totally sucks to live in. Detroit lost over 60% of its population, nearly all business and is left with those who are desperate and can't escape.
 

Skans » 06 Sep 2023, 9:16 am » wrote: ↑

06 Sep 2023, 9:16 am

Well, I might argue whether Detroit "lived".  Their bonds are still junk-bond status and the city totally sucks to live in. Detroit lost over 60% of its population, nearly all business and is left with those who are desperate and can't escape.

Hey, pal, undead isn't so bad.

...brains......   

DeezerShoove » 06 Sep 2023, 9:19 am » wrote: ↑

06 Sep 2023, 9:19 am

Hey, pal, undead isn't so bad.

...brains...... 

LOL...LOL!!!!
FREE STUFF!!!! FREE STUFF!!!!
EVERTANG IN DETROIT IS FREEEEEEEEE!!!!

Majik » 06 Sep 2023, 8:40 am » wrote: ↑

06 Sep 2023, 8:40 am

Birmingham, the largest metropolitan area in the UK outside of London, has effectively declared itself bankrupt as its city council shut down all non-essential spending after being hit with a potential $956 million equal pay settlement bill.In a statement on Tuesday declaring itself as being in financial distress, Birmingham City Council said it will “tighten the spend controls already in place” and appoint an external administrator to oversee short-term fiscal planning.“In June, the council announced it had a potential liability relating to equal pay claims in the region of £650m to £760m ($816m to $956m), with an ongoing liability that is accruing at a rate of £5m to £14m ($6.3m to $17.5m) per month,” the statement said.It added that the council “does not have the resources” to pay the outstanding sum but is “committed to dealing with the financial situation.” The body also said that all new spending is to be ceased, except support to vulnerable people and various statutory services.

https://www.rt.com/news/582465-uk-birmi ... -bankrupt/

Here is a glimpse of America's future if the left remains in power ......

Much worse coming to EuroTrash.  

The engine of EU is Germany....

and BIDEN BIN LADEN has buried them in a deep recession.