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Thursday, July 18, 2013

Detroit Bankruptcy

Detroit files for bankruptcy. In a world where the market could operate freely without being hampered by the tentacle of government, this scenario could present people with an opportunity that has heretofore not been seen in a really long time.

Imagine the city's government itself having to be disbanded in droves and liquidating its assets on the open [international] markets at heavily discounted prices with extremely low to zero tax rates. Depending upon demand, certain areas may be snatched up by corporations and individuals looking to create their own vision of what a revitalized Detroit may look like. This may lead to an overall cleansing of the city's current decrepit condition and make way for new structures, perhaps parks, private natural trails, new company buildings and factories. Those areas not at first snatched up would slowly gain in value and at some point obtain a buyer as its surroundings reawakened and flourished with activity by private demand. The city itself could become a roadmap for how to achieve success and be a competitive city state rivaling entities such as San Marino, Monaco, Hong Kong (Formerly), and Singapore. Since it would be composed of minimal to no public administrative monopolizing entity, it could petition itself to secede from the state and subsequently the union. Granted this is nothing but a silly illusory scenario, but imagine what sort of message and chain reaction would reverberate throughout the rest of these United States and globally. Perhaps a migration of job-seekers and productive entrepreneurial individuals would make their way there and as other locations saw its success, policies would be set in place to emulate it.

Just a quick thought I had concerning the 28 days later like situation going on in Detroit city. This isn't by any means a serious discussion...

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