Thread: wow, how the mighty fall

Originally Posted by Baggy

I came across a documentary on Detroit on the ABC several months ago and it was an eye opener.

Back in its heyday they (the big 3) pushed the idea that you had to travel everywhere in the car, the council welcomed the advent of the freeway that cut through and divided the city. They embraced the evolution of the shopping centre .... people had to buy (more cars) to get to them and so people slowly moved away from the city centre and surrounds into the suburbs.

Ford, Chrysler and GM moved away and the documentary show you through the old factories, hotels and buildings ....they were huge

One building shown was the original Ford plant where Henry Ford started the first assembly line, all that was left were the tracks in the concrete floor where the chassis used to roll in and with historical footage showed how the cars were put together.
They have closed schools, police and fire stations, homes are abandoned, the locals have no money and teenagers roam the streets and torch homes and building as there nothing better to do.
The only way some locals make any money is to steal the scrap metal from within the old buildings, brass and copper pipes and when that's gone the steel.
While they were filming looters were in the upper floors cutting 20'sections of brass pipes and dropping them down the elevator shafts. (It's the easiest and fasted method to ground)

On the positive side people who were effected by the GFC were moving back there taking over abandoned homes, creating vegetable gardens as a means of supporting themselves .....and in fact they were upbeat that people were returning and breathing some life back into the place .... but this will hurt

Baggy

May be happening in a few towns/cities in Australia over the next decade or so.

The thing that I find so odd about America is that they have such a problem with socialism (shown with the back lash of ObamaCare etc) but think that it is a great idea to have a centrally controlled federal reserve that wont let things die quickly. The reason America is in such dire problems now is that the federal reserve have a policy not to let anything die - it is pure politics to safe face for the government. Other countries have bounced back now and are going really well - because they allowed the bad debt to die. America is trying to solve the problem of toxic debt with more toxic debt and millions of people will suffer for a long long time because of it.

my first trip to the USA was in 1986.been a few times since-last trip was 2003.very big eye opener-don't believe what you hear.
every one has big car [escort was biggest seller in 86]-low interest rates was the only thing keeping sales moving.

most people in the USA are poor.but they have a mentality that socialism out of the church is evil.they are happy to allow the church to control social life.

the Obama issue has more to do with-polititions only look after them selves mentality.--whats in it for me..not whats in it for us.

talking to groups and schools you are advised not to bring up topics--wages conditions and health..remember every thing in USA is better than the outside world.

being hosted by middle class or local government I was offered free factories--.an excited host showed me a GM factory being built to make utes-I cant find it on google.

lot of the buisnesses I talked to knew of Australia--they had very good clients there that wanted good product.

not been down the east coast but west cost is like OZ east coast.

Originally Posted by superquag

... and the Australian dollar is falling in relation to the US greenback?

I'm hearing you. The USA is F.U. They couldn't afford the rest of the letters so it's an acronym now.

Regard
Andrew

Originally Posted by Cobber

So what happens if they do actually declare bankruptcy?
What does that mean for the residents?

They will not have to, they will just tap the ratepayers of the city for more rates and charges etc as most US cities do to pay their debts.