@RBReich: Detroit, and the bankruptcy of the American social contract: robertreich.org/#.UerazsIwjkM.twitter | "It’s roughly analogous to a Wall Street bank drawing a boundary around its bad assets, selling them off at a fire-sale price, and writing off the loss. Only here we’re dealing with human beings rather than financial capital. And the upcoming fire sale will likely result in even worse municipal services, lousier schools, and more crime for those left behind in the city of Detroit. In an era of widening inequality, this is how America’s wealthy and middle-class are quietly writing off the poor."
Posted on: Sat, 20 Jul 2013 22:08:57 +0000
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