do patrs of Europe lok like Detroit

[pellaz]

[MisterLove]

I don't know about Detroit but in Portugal it's scary to see so many stores and companies with CLOSED signs because of the recession and austerity measures.

[MisterLove]

What happened in Detroit, exactly? How can a city go bankrupt? Shouldn't the Federal Reserve Bank intervene in cases like these? And what are the consequences for the common people?

I believe the economy of the city was heavily dependent on the auto industry, right? Was this an important factor?

[OrphanPip]

What happened to Detroit was that over a million people moved away from the city so that its tax base evaporated and the municipal government could no longer afford to maintain the infrastructure, which just created a bad feedback loop of jobs leaving the city until only those too poor to leave, and the lucky few who still have jobs, left to cope with the devastation. The autoindustry was just the last nail in the coffin, since the US manufacturing sector has been in decline for 50 years.

[Tulloni]

Well in the UK we don't have any bankrupt town or city per se but there is a massive deficit in the budget thanks to a lot of unemployment and a collapse in tax revenues. Some areas in big cities like Birmingham and Glasgow (one of the most violent cities in all of Europe) have large pockets of deprivation, poverty, and in general the areas look very run down with bordered up shops, litter, dilapidated housing blocks, etc. Its pretty sad really.

[Counselor]

If Detroit becomes a ghost city, it will be the most awesome place for Movement. :biggrin:

[VileKyle]

Maybe Chernobyl? :biggrin: