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Boris Deputy - Mansion Tax Will Turn London Into Detroit

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If finance goes the way of car manufacturing then it will.

Here's hoping.

Seems likely, doesn't it, what with the headlines this week about the finance headcount in London being back past its pre-crash peak.

Anyway, even if all the rich people moved out, there are loads of not-rich people who would happily move in and take over their homes. It behoves the likes of Victoria and Boris to look at the posh:plebs ratio.

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The collapse of the carbuncle that is London will rejuvenate the rest of the UK.

If only we can utterly rid ourselves of this festering pit, rid ourselves of London centric thinking, then the country will be much nicer and better.

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The collapse of the carbuncle that is London will rejuvenate the rest of the UK.

If only we can utterly rid ourselves of this festering pit, rid ourselves of London centric thinking, then the country will be much nicer and better.

Sounds about right as the last time the rest of the country seemed to be doing well in the mid 90's London wasn't so important.

Peak London's just passed?

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Seems likely, doesn't it, what with the headlines this week about the finance headcount in London being back past its pre-crash peak.

Anyway, even if all the rich people moved out, there are loads of not-rich people who would happily move in and take over their homes. It behoves the likes of Victoria and Boris to look at the posh:plebs ratio.

I think it will within ten years.

http://www.bloomberg.com/news/2014-10-07/andreessen-on-finance-we-can-reinvent-the-entire-thing-.html

“We have a chance to rebuild the system. Financial transactions are just numbers; it’s just information. You shouldn’t need 100,000 people and prime Manhattan real estate and giant data centers full of mainframe computers from the 1970s to give you the ability to do an online payment."
‘‘The startups chasing disruptive technology aren’t working within the existing system. This is the cryptocurrency phenomenon. If it works, we can re-implement the entire financial system as a distributed system as opposed to a centralized system. We can reinvent the entire thing."

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There is a big move to home working in many of the big banks.

All levels of staff. Cheaper for the company and many people prefer it.

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So what he's telling me is the one thing that Londons got going for it is as a tax free place for the criminal class to launder their money?

Cant disagree with that. Why we'd want to preserve such a situation, I don't know.

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1) At this point, the city of Detroit owes money to more than 100,000 creditors.


2) Detroit is facing $20 billion in debt and unfunded liabilities. That breaks down to more than $25,000 per resident.


3) Back in 1960, the city of Detroit actually had the highest per-capita income in the entire nation.


4) In 1950, there were about 296,000 manufacturing jobs in Detroit. Today, there are less than 27,000.


5) Between December 2000 and December 2010, 48 percent of the manufacturing jobs in the state of Michigan were lost.


6) There are lots of houses available for sale in Detroit right now for $500 or less.


7) At this point, there are approximately 78,000 abandoned homes in the city.


8) About one-third of Detroit’s 140 square miles is either vacant or derelict.


9) An astounding 47 percent of the residents of the city of Detroit are functionally illiterate.


10) Less than half of the residents of Detroit over the age of 16 are working at this point.


11) If you can believe it, 60 percent of all children in the city of Detroit are living in poverty.


12) Detroit was once the fourth-largest city in the United States, but over the past 60 years the population of Detroit has fallen by 63 percent.


13) The city of Detroit is now very heavily dependent on the tax revenue it pulls in from thecasinos in the city. Right now, Detroit is bringing in about 11 million dollars a month in tax revenue from the casinos.


14) There are 70 “Superfund” hazardous waste sites in Detroit.


15) 40 percent of the street lights do not work.


16) Only about a third of the ambulances are running.


17) Some ambulances in the city of Detroit have been used for so long that they have more than 250,000 miles on them.


18) Two-thirds of the parks in the city of Detroit have been permanently closed down since 2008.


19) The size of the police force in Detroit has been cut by about 40 percent over the past decade.


20) When you call the police in Detroit, it takes them an average of 58 minutes to respond.


21) Due to budget cutbacks, most police stations in Detroit are now closed to the public for 16 hours a day.


22) The violent crime rate in Detroit is five times higher than the national average.


23) The murder rate in Detroit is 11 times higher than it is in New York City.


24) Today, police solve less than 10 percent of the crimes that are committed in Detroit.


25) Crime has gotten so bad in Detroit that even the police are telling people to “enter Detroit at your own risk“.


from:


http://www.secretsofthefed.com/25-facts-about-the-fall-of-detroit-that-will-leave-you-shaking-your-head/


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Time to buy a ****** off piece of land in Detroit for $10k and see what happens ?

Risky !!

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1) At this point, the city of Detroit owes money to more than 100,000 creditors.

2) Detroit is facing $20 billion in debt and unfunded liabilities. That breaks down to more than $25,000 per resident.

3) Back in 1960, the city of Detroit actually had the highest per-capita income in the entire nation.

4) In 1950, there were about 296,000 manufacturing jobs in Detroit. Today, there are less than 27,000.

5) Between December 2000 and December 2010, 48 percent of the manufacturing jobs in the state of Michigan were lost.

6) There are lots of houses available for sale in Detroit right now for $500 or less.

7) At this point, there are approximately 78,000 abandoned homes in the city.

8) About one-third of Detroit’s 140 square miles is either vacant or derelict.

9) An astounding 47 percent of the residents of the city of Detroit are functionally illiterate.

10) Less than half of the residents of Detroit over the age of 16 are working at this point.

11) If you can believe it, 60 percent of all children in the city of Detroit are living in poverty.

12) Detroit was once the fourth-largest city in the United States, but over the past 60 years the population of Detroit has fallen by 63 percent.

13) The city of Detroit is now very heavily dependent on the tax revenue it pulls in from thecasinos in the city. Right now, Detroit is bringing in about 11 million dollars a month in tax revenue from the casinos.

14) There are 70 “Superfund” hazardous waste sites in Detroit.

15) 40 percent of the street lights do not work.

16) Only about a third of the ambulances are running.

17) Some ambulances in the city of Detroit have been used for so long that they have more than 250,000 miles on them.

18) Two-thirds of the parks in the city of Detroit have been permanently closed down since 2008.

19) The size of the police force in Detroit has been cut by about 40 percent over the past decade.

20) When you call the police in Detroit, it takes them an average of 58 minutes to respond.

21) Due to budget cutbacks, most police stations in Detroit are now closed to the public for 16 hours a day.

22) The violent crime rate in Detroit is five times higher than the national average.

23) The murder rate in Detroit is 11 times higher than it is in New York City.

24) Today, police solve less than 10 percent of the crimes that are committed in Detroit.

25) Crime has gotten so bad in Detroit that even the police are telling people to “enter Detroit at your own risk“.

from:

http://www.secretsofthefed.com/25-facts-about-the-fall-of-detroit-that-will-leave-you-shaking-your-head/

I think it really depends...Detroit is certainly possible in the UK in some ways (think certain mill towns or steel towns losing large numbers of people - but that's really on a smaller scale) however planning regs here mean 8 million or so people in London wouldn't be able to just up and leave and create new suburbs from scratch 20 miles outside the urban limit - well, I guess the rich might go Dubai or somewhere, but the masses would have little choice but to stay...so I don't think it would end up a ghost town. I suspect it would be more like Johannesburg or latin American cities, with tightly guarded private communities surrounded by shanty towns.

Also mayors and municipal authorities have far more powers than in UK towns...I guess the mayor can decide where the budget goes, but cant do much to raise the revenue for that budget in London. A lot of people seem to like the idea of elected urban/city majors in this country...not sure why...such a system has hardly been a success in the US, driving a wedge between town and country, inner city and suburbs, when the 'sphere of influence' of places like London extends well beyond the M25.

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Time to buy a ****** off piece of land in Detroit for $10k and see what happens ?

Risky !!

Perhaps not that risky. I think the Chinese are buying up lots of Detroit...and they have the means to lobby the US govt to allow in millions of migrants to act as paying tenants on their investments.

Detroit is still better than Somalia...Probably, at least...so someone will live there if the benefits are set high enough.

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"The case of Detriot in the USA perfectly illustrates what can happen to a city that fails to remain competitive and ignores, or underestimates, the impact of low tax economic incentives," she said.

There's plenty of examples of cities that have gone downhill for various reasons.

Currently London is going downhill rapidly because of even crazier house prices than usual and the inept governance of back garden shanty town London.

Being congestion central is an indictment in itself for the running of any city worth calling a city - or country for that matter.

Edited by billybong

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There's plenty of examples of cities that have gone downhill for various reasons.

Currently London is going downhill rapidly because of even crazier house prices than usual and the inept governance of back garden shanty town London.

Being congestion central is an indictment in itself for the running of any city worth calling a city - or country for that matter.

Yes. There's nothing particularly special about London. Both London and New York were going the way of Detroit until the 80s, when politicians decided to save such places, by allowing them to steal the productivity of the rest of the country via inflation.

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