Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
May 07, 2012 – www.economicnoise.com
An economist once remarked that there were two ways to destroy a city — bomb it to smithereens or impose rent controls. In either case, the city would look like it had been leveled. Parts of the South Bronx in New York reached that condition as a result of rent controls which made it impossible for landlords to maintain their buildings. It was cheaper to walk away from their investments and they did.
Apparently there is a third way and Detroit, MI has found it and brought it to fruition. Detroit has become a modern day terror town, nearly unsafe for occupancy. It is near the anarchy that prevailed in the fictional file “Escape From New York.”
Part of Detroit’s decline is due to the collapse of the US automobile industry, but most is due to governmental policies. These same policies are eroding the rest of the country. The only difference is that Detroit has deteriorated faster. The rest of the country is moving in the same direction.
Thanks to BrotherJohnF