Skip to content

The Fall of Detroit

The most recent census showed that in the decade from 2000 to 2010 Detroit lost an astonishing 25% of its population.  This makes Detroit the 18th largest city in the United States at a population of 713,777.  The decline in population is only half the problem, the other half resides in their $12.3B of outstanding debt, along with well over $5B in promised benefits and unfunded pension funds.  In total, the Citizen’s Research Council of Michigan puts the long-term debt burden at about $20B.  That ends up being about $28,000 per (remaining) resident of the fine city of Detroit.  That is on top of the ~$49,000 per US Citizen based on the current US National Debt.

Posted in Economics, Politics.

Tagged with , .

Copyright © 2009-2013 SurlyTrader DISCLAIMER The commentary on this blog is not meant to be taken as an investment advice. The author is not a registered investment adviser. There is no substitute for your own due diligence. Please be aware that investing is inherently a risky business and if you chose to follow any of the advice on this site, then you are accepting the risks associated with that investment. The Author may have also taken positions in the stocks or investments that are being discussed and the author may change his position at any time without warning.

Yellow Pages for USA and Canada SurlyTrader - Blogged