Is Detroit's Economic Crisis Deepening?

Is Detroit's Economic Crisis Deepening?

Detroit  is undoubtedly one of the most important cities in the history of music. Steeped in musical heritage like no other metropolis on earth, the Motor City is hailed as the birthplace of jazz artists like John Lee Hooker, Donald Byrd and Pepper Adams, the roots of Motown, Aretha Franklin, Nolan Strong, Eminem, J Dilla and of course the infamous Detroit Techno Three – Juan Atkins, Kevin Saunderson and Derrick May. But the city has been without it's economic decline - and according to UK hate-breeding rag The Daily Mail, it's looking bleak for the future of the city.

The city’s budget problems have gone into crisis – without serious economic rejuvenation and funding, cash could run out for Detroit in a matter of months. This would mean the city having to file for what would be categorically the largest every Chapter 9 municipal bankruptcy in the United States, according to the UK based tabloid newspaper. Rick Jones, chairman of the Republican majority in the state Senate says the city needs help immediately. The city owes $8.2billion in outstanding debts and cuts in the cities health care, pensions and labour support are being drastically increased. Unfortunately for the city, bankruptcy is looking like the most viable option in some people’s opinion. Former chief financial officer of Ford Allan Gilmour who is now the president of Detroit’s Wayne State University, advocated the movement – ‘I think... off and on, that it wouldn’t be a bad idea... let’s clean this out once and for all’ he told the Daily Mail.

Not only that, but post the second World War era it was one of America’s most prestigious urban areas, both economically and industrially – the American automobile industry flourished there, hence it’s well earned nick name of the ‘Motor City’. Detroit faces a number of difficult demons - a rapidly declining population with just over 700,000 inhabitants – a fall of 30% since 1990, increased crime rates (11 times the rate of NYC) and an unemployment rate of 18% (twice the entire rate for the USA as a whole). Signs of dereliction and decline are noticeable around this impressive city, it saddens us greatly here at Pulse that such a hotbed of musical creativity, talent and history may face a worse future, and we hope desperately that something can be done for it.

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