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AUSTIN BUNDY

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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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  • Aug 7 2013: Oh yes, after Detroit other cities will follow suit and this will be a huge mistake. We have to learn fiscal responsibility in the US and the only way is to start from scratch: default and begin again. Otherwise the US tax payer will be on the hook forever and those who continue to get rich by 'never spending their own money' will just get fatter and fatter--look at the banks and investment firms we bailed out; they haven't changed their behavior one single bit and why should they, it's not their money!!!

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