Take a look at this stunning report of the decline of the City of Detroit over the past several decades, and think about the path we are on as a nation.
If your mayor gets an award for borrowing money, your city is likely in trouble. The only differences I see are that it is easier to leave a city than to leave a country, so the population decline issue is less of a factor. Plus, the federal gubmint can always just print more money. So maybe we will be more like Zimbabwe.
If your mayor gets an award for borrowing money, your city is likely in trouble. The only differences I see are that it is easier to leave a city than to leave a country, so the population decline issue is less of a factor. Plus, the federal gubmint can always just print more money. So maybe we will be more like Zimbabwe.
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