Monday, September 16, 2013
As Goes Detroit, So Goes America
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.
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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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