OT- Detroit shutting down? This is scary - Page 1

finance.yahoo.com/family-home/article/107206/retailers-head-for-exits-in-detroit.html


Wow.  My heart goes out to the many, many Detroit families who lost their income. Dark times.

http://www.youtube.com/watch?v=_exPnlC3wpY

Babyeagle, I've heard the song but not seen the video. That just breaks my heart.

This is like the Sopranos bust out episode.  Instead of busting out a sports store, it is our economy and the national treasury.  Soon, we will be a 2nd tier economy at best.

For those who are not from the NY metropolitan area, a bust out occurs when the Sopranos cannot collect a gambling debt from a childhood friend of Tony's who owns a sports store.  So, they run up all the credit lines that the store has, sell all the inventory ASAP at bargain rates, take what they want for themselves and family.  They don't pay the rent or any utilities or anything else.  This goes on till there is nothing left to take or sell.  At that point, the Sopranos crew leaves and the store owner declares bankruptcy with no assets.  It's a complete bust out.

These are the kinds of things you learn about when you grow up in urban hell holes in New Jersey.

China holds the mortgage, will they foreclose?

If we play our cards right, very soon we will not be able to service the debt.  

We could end up as a part of China.  You know, they hold the mortgage (bonds) and they can take title when we stop paying.

China and Russia are also making moves to be paid back in different currency to prevent us from printing our way out of the debt.  The value of the dollar is sinking like a rock. 

Welcome to Zimbabwe!

The video broke my heart, too, which is why I can't stand to watch it.  It's true.

It's going to get worse, because we won't stand up and say, NO MORE.  God help us.

Crys

People are standing up Crys. No other man but one, wants to admit publically, of course.
Do you people even know what's planned for the July 4th Nation Wide ? America is getting seriously Constitutional.. LOL  (YeeeHawww)  <@@>  looking on this July 4th 2009 scheduals of individual events both civilian and military is astonishingly halcyon to say the least.

Another Tea Party, but really the timing sucks, don't you think? Who's going to give up the BBQ and fireworks to meet with a bunch of crabby politicos?

It won't be THE END as we know it. Just a much needed change, the which direction is up for grabs. Other manufacturing cities have gone bust, and recovered. 

Smart financial planners are well aware of the looming devaluation of the dollar.

If you read the article, much of Detroit's problems stem from the relocation to the suburbs.  The automotive industry problems are the proverbial straw. 
My question to all of you that have a heart that goes out to them, is whether or not you are driving an american car or truck? 
The country has turned a blind eye to the State of Michigan.  Very quick to bail out banks that were loose in their actions.  The very reason the automobile industry is in trouble isn't their fault.  They simply cannot compete with foreign automakers.  How can they when their competition doesn't have to play by the same rules?  Our products are taxed when they enter their countries, while their products come into our country for free.  That is our government's fault, not the Big Three's.