To my supporters, please tell this mod the youtube video is not racist. Out of respect for the ET moderation community, I will not repost it but I invite anyone to repost a youtube video of anyone driving around any part of detroit. Unless you want to end up like detroit and Michigan, don't follow their lead when it comes to taxes and business policy.
How is a video of a low-income area relevant to trading or economics. There are ghetto's (why do you think this might have racial implications) everywhere. Furthermore, how is it representative of a entire city or state? Anyone can find a video of a poor neighborhood of NYC and misrepresent it entirely as a slum... whereas in reality NYC has one of the highest GDP per capita incomes in the country. What pleasure do you get from Detroit's financial suffering? California is one of the wealthiest states and there have been articles on Wall Street journal claiming the state is bankrupt... What's your point? A city won't disappear... there will be good times and bad... So what, where in a recession.
It is not relevant to trading, hence why it is posted in the ECONOMICS forum. Low-income areas is relevant to Economics. As for a city not disappearing, I believe hundreds of shitty homes are being demolished every year and this land is being turned into farmland, which is a trillion times more productive than the gangbanging activity of its former use. New York city is the great city in the world. detorit has no redeeming qualities. There is no fucking way detroit or Michigan is making it out of this recession. No fucking way
And even if by some miracle they do make it out of the recession then I'm gonna have a fit since I won't be able to have that BBQ celebrating its demise.
Ok... I partly rephrased my previous post about the economic thread and the racial implications... From here on, I hope you discuss those poor economic policies you mentioned earlier and believe caused Michigan's current financial turmoil. That way everyone here can have a substantive discussion.
You are right there is a lot of misery and horror still playing out in Detroit and Michigan. Good people will have their lives ripped apart by non-caring politicians. But you are 20 years too late to celebrate Detroitâs demise. Detroit is a shell of it former self. For what ever joy it provides you. It is like throwing a rock at dead person.
"It is like throwing a rock at dead person." "That's my style. I like to kick 'em when they're down! "
Michigan doesn't disappoint. Feds now want Chrysler bankrupt! http://www.nytimes.com/2009/04/24/business/24chrysler.html?_r=1
That'll be four billion taxpayer dollars down the hole. At least they didn't keep bailing them out, like say GM, or C, or AIG or. . . At this point, what's a few billion? Nothing. You gotta have a couple hundred billion of taxpayer money to be noticed these days.
All that can be said is that this is a sad time for US auto mfgs. and for the rest of us. Sure GM and Chrysler have ignored the handwriting on the wall. It is still tough. I wonder if consolidation will bring less quality due to lessened competition?