Tag Archives: Detroit

Detroit’s Demise

I grew up in Toledo, about an hour south of Detroit, so I feel a personal twinge about the financial disaster Detroit now faces.

It wasn’t always so. They used to say that, “What’s good for General Motors, is good for the country.” Supposedly GM had to keep its market share below 51% to not run afoul of monopoly laws.

Imported cars were rare.  They were exotics, like Lamborghinis, sports cars like the MG, or quirky like the VW Beetle.

How did Detroit go from being on top of the world to bankruptcy?

Two words.

Flying Cars.

The Jetsons! Hanna-Barbera

The Jetsons!
Hanna-Barbera

They’ve been promising us flying cars for years. “Thunderbirds,” the 1950’s black and white marionette space show had flying cars. The Jetsons made it practically a promise, and, if that wasn’t enough, we had the hover cars in “Back to the Future.”

So, Detroit, it’s all Hollywood’s fault.

Thieves, Scoundrels and Billionaires

 

baronsOur current economy is due, to a large part, to those who had the knowledge, the ability and the guile to work the system.

The executives of companies “too big to fail” who skimmed the profits, got a government bailout and paid themselves bonuses out of the bailout.

The mortgage company executives who made questionable loans and bundled them so that the risk was no longer identifiable.

The derivative traders who made the investment instruments so complicated that no one knew what they were worth.

We’ve always had those types.

But somehow the Medicis and their contemporaries gave us the art of the Renaissance.

The robber barons gave us coast to coast railroads and telegraphs.

I don’t credit the rich and powerful for these benefits. Instead, I think this is God’s “will be done, on earth as it is in heaven.” Even the greediest, most despicable person’s actions will ultimately reflect God’s will.

It’s a comforting thought.