First, our Austrian economist buddy, Lew Rockwell, talks about the fact that Detroit is simply the first of many. Think about that game played in our favorite parks, called: dominoes (forget the pizza chain ... they're solvent). Unfortunately, Chicago and Baltimore are not, and that's the rub. Ms. Whitney will eventually be vindicated, despite an unfortunate timing error.
http://www.youtube.com/watch?feature=player_detailpage&v=0aMenXmMuHw&t=162 [3]
[The interview with Mr. Rockwell starts at 3:15 in]
Then, there is the Marxist's take. Capitalist failure? Since when have we actually had capitalism in our modern plutocracy (hint: crony doesn't count)?
[This one Sartre's at 2:30 in .. yes, we get all existentiall and stuff]]
Finally, we have Mr. Gerald Celente, who ventures out on a trend-forcasting limb[o?] and does, in fact, go all "dominoe." Sorry, San "Whatever", CA.
http://www.youtube.com/watch?feature=player_detailpage&v=3MJs_fRE30U&t=161 [5]
[Click ahead to 2:40 to see the beginning (of the end) on this one]
Best,
Bob
(Twiter: EnglishPI [6])