Unfortunately Detroit is just the beginning, with the continued decline in the work ethic engendered by big government, the dependedce upon the largess forecasts Detroit as a harbinger of a continuing decline. Socialism is running true to form, as Lady Margaret Thatcher noted, “Sooner or later you run out of other pwoples money”. America is aout to experience that truism.
Detroit is just the tip of the iceberg, as I believe municipal bankruptcies will now snowball, followed close behind by counties, and then certain states.
And there is no federal money to bail them out – I don’t care how much money Bernanke prints.
I believe the near-term result will be the total financial and economic collapse of America, and I expect it to occur within the next 2 to 3 years.
If they don’t get’em this way they’ll get’em with the Dodd Frank Bail Inner trick. It’s time for Glass Steagall so that the bad guys don’t always make off with the money. Marc Kaptur’s bill is sitting waiting to be heard in the House and there are two bills to reinstate Glass Steagall lodged in the Senate now.
Shut’em down, that’s what I”m sayin’ THAT’S WHAT I’M SAYIN””””””’ There is still a window of opportunity open at present, we need to SEIZE THE MOMENT.
One party rule + devotion to unions + liberal ideology = Detroit ………Who’s next ? Lets start a pool .
kind of like castros cuba,what a shame!
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