Depression Hits Detroit; Unemployment 21%

www.infowars.com...


As I live in Michigan and roughly fifteen miles from Detroit, i can validate the claim.

And it spreads a bit further than just Detroit; much farther than the auto industry. Factory jobs were once abundant here, but thanks to globalization and tax breaks for companies which send jobs overseas in order to pay workers pennies on the dollar- ( and in some cases, where child labor laws don't exist)- this problem stems back farther than most know.

By most accounts, Detroit and Michigan as a whole never bounced back from the 87' crash and recession.

The state has been dying for over two decades, and even if the Big 3 manage to survive and crawl back, in a couple of months ( maybe not even that) Michigan- as a functioning state- will be dead.

Here's a mainstream source to corroborate:

www.msnbc.msn.com...

reply to post by orderedchaos


Wow. That's one in five people. Wow.

And the scary part is that the fate of the auto companies is still very much in the air. I'm no supporter of the bailouts, but if the government doesn't give the auto companies more money, it's going to get much worse.

The other scary statistic from that article: The average home price in Detroit is $18,513. You can buy a house for less than the cost of most cars. That blows my mind.

Makes you wonder how long 'til the rest of the country looks like this...




[edit on 16-3-2009 by sweetpeanc]

reply to post by orderedchaos


Here's athread already on this topic: www.abovetopsecret.com...