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The Detroit Syndrome:
When Thriving Big Cities Go Bankrupt

It's a possible scenario that could happen to cities and regions around the World, if debt suffocates them.

The city of Detroit has officially went bankrupt.

The former US auto-making capital has lost 48 % of the manufacturing jobs between 2000-2010 and, during the past 60 years it has suffered a population decrease of 63 %!

In 2013, official statistics showed over 1/3 of the city's population lives under the poverty line and over 60 % of its children fall in this category!

The Detroit nightmare can happen almost anywhere in the Western World and not only there!

Previously prosperous industrial areas are breaking down, creating high rates of unemployment, reducing production and thus, income.

Even in Europe, cities like Paris, Barcelona, Rome, Athens, Lisbon, Brussels have vast slumish areas that are a nest for crimes and poverty. These city areas generally have a rising immigrant population (many of those people suffer because they are unemployed).

The Detroit scenario is a time bomb by itself. And it's just a component and precursor of the much larger global collapse time bomb, which could set off at any time.

We are at the beginning of the current financial system's collapse. The Detroit scenario can hit almost any big city around the World. And the most vulnerable areas are in Europe and North America.

We should all think about our personal finances and learn to invest wisely in order to preserve our financial security and ensure future for ourselves and our families.

How about the place where you live? How is your local economy performing?

Are social conditions worsening in your area? Is poverty spreading, is the unemployment rate increasing?

Are there any slums in your city? And, are they extending, pretty much staying the same or are they contracting?

How is your wage and how are your expenses?

Your city might just become the next Detroit. Perhaps not over night, but it's better to be aware and get financially and socially prepared for the worst case scenario, as the current economic crisis deepens.

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