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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: orkrious who wrote (60163)8/18/2006 12:58:36 PM
From: No Mo MoRead Replies (3) of 306849
 
"What's going to become of Detroit?"

In many senses, it's going to get what it has coming to it. For almost forty years, the business that drives the entire economy of the state has lobbied its stooges in Clowngress to reward said industry for building absolutely inappropriate vehicles e.g. SUV's being exempted from CAFE standards, easy to exercise tax breaks for so called "small businesses" that buy SUV's when they are really for personal use, and on... The (former) Big Three refused to recognize the advantages brought to the game from Japan and Europe and chose to sell cars based on a different, non-competetive paradigm.

All of Michigan has sucked at the teet of the auto industry and SE MI especially; municipalities, unions, businesses all along the supply chains. They all got fat and some got corrupt. Detroit is a museum. Patron is right, it was a proud city. I grew up in the Thumb and when we were in high school, there was no greater adventure for us than to drive straight down Van Dyke into that huge architectural ghost town.

I'm in India right now, Agra actually, and I can draw parallels between the Mughal empire and the rust belt. I've spent a lot of time traveling all over the world and nowhere have I seen the wholesale abandonment of capital as I have in the Rust Belt. Sad to say, the Motor City is the crown capital.

"Kick out the Jams"

A proud former Michigander
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