UniqueSquared

UniqueSquared
July 25, 2013

Detroit’s Bankruptcy

Just because a city or town has a rich history in the arts and entertainment doesn’t mean that it can survive on that alone.  Every big city has become that way due to some sort of revolution that allowed it to prosper.  In California there was the Gold Rush, but getting closer to our times you can see how business has thrived here.  The dot com startups of Silicon Valley and the culture in Southern California is what has made it a great place to live (or at least visit).  Other cities like New York are also home to music revolutions and culture significance.

Detroit is perhaps very famous for its celebrated music history.  The likes of both Eminem and Carl Craig were born and raised in this city – but economically the city has had its ups and down.  When we think of Detroit, we think of the car capital of the world – but lately times have been rough.  Production is at an all time low and it has forced the city to declare bankruptcy.  What sucks about this the most is that state official saw it coming over a period of decades.  Too bad music can’t solve these problems.

http://www.factmag.com/2013/07/19/detroit-becomes-the-largest-ever-us-city-to-file-for-bankruptcy/