If Detroit files the inevitable bankruptcy, how in the world will it ever get back into a position to borrow massively again in the future?
Its population has shrunk from 2 million to 700,000. It has no economic base. Its own inhabitants are burning it down much faster than it could be rebuilt even assuming someone were trying to rebuild it. Detroit's remaining inhabitants are refugees who just don't know it yet.
4 comments:
If Detroit files the inevitable bankruptcy, how in the world will it ever get back into a position to borrow massively again in the future?
What's the downside (other than politics for politicians) of it not being able to?
Eric Hines
...(other than politics or politicians)...
I think the more usual question is whether any other people count.
Everyone else are the only ones who count. They just get ignored, and they bring a measure of that on themselves by eschewing politics themselves.
Eric Hines
Well, Detroit was trying to act like it still had a million citizens.
Its actually a special case, because nobody really has had to manage a population decline like that.
Nobody.
I don't have an answer, but it shouldn't surprise that nobody else seems to either.
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