Detroit, the great bankruptcy & the 3rd (industrial) revolution?

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The third industrial revolution is really punching Detroit in the gut...

 * Change is not about traditional industry

 Its the internet causing the great shift of wealth .A new type of worker is needed...

Look at this- a 4 minute video

 (Those who do not know their history are doomed to repeat it...)

the 1st industrial revolution(1712- 1830) caused much economic upheaval...

the second industrial revolution 1840- 1914)

 caused the first worldwide depression (1929- 1941) after the  (first) World War (1914-1918) 

 The lack of postwar jobs /depression cycles caused the Great Migration

when black people and White people realized that the coal mines and the cotton fields were a quick route to Poverty . Going to the North (not going to pick up a trade and a degree ) guaranteed that for about one generation(my parents) they were NOT going to  stay broke and starving.

The boomers 1945- 1955 and 1955 to 1965  did not benefit from the great migration other than become  a member of one of the levels in the Middle Class  between 1977 and 2007 .

 Then the Great recession of 2008 made sure that non retired boomers (born @ 1950 - 1965  and  the generations behind them including college age Millennials, fell behind, particularly if they followed the example of their luckier parents 

( luckier due to timing). Following your parents example in this case meant a BA or a trade was enough - in the age of the internet  education is only an expensive starting point.

Which explains why the predominately black retiree population of Detroit does not have enough money to keep up with the creeping upwards cost of living in 21st century Detroit.(or any other US  city.) This lack of progress has nothing to do with gentrification and everything to do with demographics, especially post 1967 riots/rebellion.

  

If you managed to pay for a home, retire without cutbacks to your retirement package  and send a kid or two to college  for 60 or more credits- why move? You had it made. But

if you were the child of these parents, born between 1955 -1965  it was very competitive- despite affirmative action programs.

Globalization was creating competition from outside , with the best from other countries often  directly competing with Americans in   colleges and universities from CUNY

 (the public system in NY) to Harvard.

The right college major,  in order to pay for itself in certain areas example: Political Science had better be the right school so it would consistently pay by networking, and reputation as well as content.

If you did not go to college in your filed, you often found yourself going back... just to stay competitive at work.It used to be

 all you had to do was keep up with trends at work (internet) and be nice to the IT guy.

l>The Truth for smart people - see bloggingheads.tv/videos/