Detroit was once a manufacturing giant—the 4th largest city in the United States, with a high employment rate and brimming with blue collar jobs. Now its unemployment rate hovers above 16 percent, and its population has shrunk so now it is only the 18th largest city. This quick erosion of the tax base has left Detroit with $18 billion in debt and no hope of recovery in sight. This caused the city of Detroit to declare bankruptcy.
Tag Archives: NAFTA
Many are starting to believe that our leaders in Washington are scheming with paid corporate lobbyists to pass new “free trade” agreements that aren’t so much about trade as it is about setting up a new One World Global Government, with giant corporations in charge. These agreements are known as the Trans-Pacific Partnership (TPP), Transatlantic Trade and Investment Partnership (TTIP), and Trade in Services Agreement (TISA). The agreement is between the U.S. and 11 other countries including third world countries like Vietnam and Brunei.
It’s time our political leaders opened their eyes and got a better understanding of how student debt has impacted the lives of young adults. A study released by Dr. Katrina Walsemann of the University of South Carolina revealed that the higher the student’s loans, the poorer his or her mental health is. When you combine an average of $30,000 loans per college graduate and no jobs in the U.S. you have a serious problem.
Many people are looking to the future hoping to see promise for America. Unfortunately dark clouds are on the horizon. Here are a few concerns we see with the economy this year.