I've read a lot of shit about the Detroit bankruptcy, including this piece:
http://www.theatlantic.com/national/archive/2013/07/even-a-half-century-ago-journalists-were-predicting-detroit-would-go-bust/277946/
None of it addresses the key issue that led to this situation:
The rich decided they were not rich enough and that they could get richer by squeezing the middle class and fucking the working class.
Period; paragraph; end of story.
But if you really need some details, please read the following essay:
http://www.wsws.org/en/articles/2013/07/20/pers-j20.html
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