A sad day for America.
Detroit, Michigan, which was once considered the forge of democracy & the automotive capital of the world, has filed for Chapter 9 Bankruptcy. The city is a staggering $18 billion in debt.
It's no surprise. This once shining jewel of industry has been in decline for literally decades as manufacturing jobs were continually exported, corruption of city officials became the norm and crimes rates soared. At it's peak, around 1950, Detroit had a population of approximately 1.8 million people. Now it's population is around 700,000 and declining. Detroit is dieing.