Detroit, 2013— A correspondent sends “25 Facts about the Fall of Detroit That Will Leave You Shaking Your Head,” by Michael Snyder of the Economic Collapse Blog:
Once upon a time, the city of Detroit was a teeming metropolis of 1.8 million people and it had the highest per capita income in the United States. Now it is a rotting, decaying hellhole of about 700,000 people that the rest of the world makes jokes about.
When in July 2013 Detroit announced that it would file for Chapter 9 bankruptcy, the move was stopped at least temporarily by an Ingham County judge:
She ruled that Detroit’s bankruptcy filing violates the Michigan Constitution because it would result in reduced pension payments for retired workers [and that] bankruptcy filing was “also not honoring the president, who took [Detroit’s auto companies] out of bankruptcy”….How “honoring the president” has anything to do with the bankruptcy of Detroit is a bit of a mystery….…