Jul 18 2013

Detroit files for bankruptcy while S&P 500 hits record high: The bifurcation of the American economy and the long decline of the American manufacturing base.

The US is full of economic dichotomies.  The DOW hit a peak when food stamp usage peaked.  Incomes for the wealthiest are reaching record levels while the median household income has fallen back to levels last seen in the mid-1990s.  And today, the once manufacturing powerhouse of Detroit is filing for bankruptcy at the exact […]

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