Detroit Broke City

“Detroit mayoral candidate Tom Barrow has forcefully asserted that the city’s fiscal crisis is a fiction…  Not to be outdone in absurdity, MSNBC host Ari Melber concluded that Detroit’s problems result from the libertarian movement…”

“The real story of Detroit is that its problems are entirely man-made, and can be summed up in seven words. Private enterprise built it, government destroyed it. That is the screaming headline that is unfortunately absent from the media coverage.”

“…the real blame falls squarely on labor unions and government. Facing the unshakable power of a monopolized labor force backed by the full might of a democratically controlled political machine, the auto companies had to agree to wage hikes, restrictive work rules, and long-term pension commitments that they simply could not survive.”

via Detroit Broke City | Euro Pacific Capital.

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