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  • think5pm think5pm Jul 16, 2013 1:39 PM Flag

    City of Detroit about to declare bankruptcy

    The new Amerika.

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    • “There’s probably no city that’s more financially challenged in the entire United States,” Michigan Governor Rick Snyder said in March, referring to the Michigan city of Detroit.

      The multiple problems of mismanagement of the city’s services, loads of liabilities and an ever growing deficit are compounded by widespread blight and ever falling economic activity.

      Although Detroit covers a larger area than Boston, Manhattan and San Francisco combined it has 60,000 vacant plots of land and 78,000 vacant buildings of which 38,000 are thought to be in a potentially dangerous condition. Since Detroit’s heyday as the center of US car production in the 1950’s its population has shrunk by 60%.

87.72-0.27(-0.31%)Aug 23 4:01 PMEDT