25 Facts About The Fall Of Detroit That Will Leave You Shaking Your Head
By Michael Snyder, on July 20th, 2013 It is so sad to watch one of America’s greatest cities die a horrible death. 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. On Thursday, we learned that the decision had been made for the city of Detroit to formally file for Chapter 9 bankruptcy. It was going to be the largest municipal bankruptcy in the history of the United States by far, but on Friday it was stopped at least temporarily by an Ingham County judge. 1) At this point, the city of Detroit owes money to more than 100,000 creditors. 2) Detroit is facing $20 billion in debt and unfunded liabilities. 3) Back in 1960, the city of Detroit actually had the highest per-capita income in the entire nation. 4) In 1950, there were about 296,000 manufacturing jobs in Detroit.
Related: SHTF/ TEOTWAWKI II
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