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Detroit's recent file for bankruptcy: a possible look into the future of what could happen to other cities here in the U.S.

Detroit just recently filed for bankruptcy, if you did not already know. The city was once a economically thriving city. The city's booming auto industry kept that city afloat since its birth. However, the auto industry here in the U.S. has saw drastically declined; we recently saw that with through GM. Labor costs here in the U.S. have pushed companies to international grounds.

Could we possible see other U.S. city's crumble because of off shore labor?
Also, what can we learn from Detroit's file for bankruptcy?

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  • Jul 27 2013: Why is Detroit's bankruptcy of significance? California has had that happen a few times. google california bankrupt.

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