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View Full Version : Detroit was a bubble that burst




Fredom101
07-21-2013, 06:11 PM
At one time, Detroit was the wealthiest city in America.

What happened?

Government.

Between all the stolen loot funneled to the car companies and all the programs designed to "help the poor", if the idea of government paying for things worked, Detroit should still be a glowing example of this. Instead, it's a wasteland.

It's not much different than the bubbles the fed creates elsewhere. Bill Clinton and Alan Greenspan created the tech bubble and everyone thought that we'd all be rich. And then it burst, so they created the real estate bubble. Then that burst, so they created another stock market bubble.

What will the result of all this be? Bubbles always burst. Government funding never "works", and only makes everyone more poor and worse off in the long run.