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Detroit

Now that they've officially declared bankruptcy, Detroit can start to turn around. The rest of US cities that haven't found a way to deal with shortfalls, well, they can see the writing on the wall in this article. The big banks are still getting paid. They own us.

http://www.nytimes.com/2013/07/26/opinion/come-see-detroit-americas-future.html?smid=fb-share&_r=0

Comments

ford_prefect42
Jul. 30th, 2013 07:03 am (UTC)
Detroit cannot start to turn around until they stop voting for Santa clause. What'll turn them around isn't going to be the actions of a special executive, or any restructuring of their debt. All that'll do is finagle the clock. What they must do in order to turn things around is to become friendlier to businesses, to encourage investment by fostering a friendlier regulatory environment, and to reduce the tax burden on those businesses and property owners that remain. All else is giving aspirin to a cancer patient. May alleviate the symptoms for a bit, but it doesn't solve the problem.

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