Re: close call at the Packard plant

Posted by Tim Cole On 2014/7/27 6:48:19

I don't live far from the place, but would never go there.

The developer seems to have bonafide intentions, but I'm skeptical if any plan for that area would work.

New York City and Jersey City have reclaimed real estate via sky high rents, but supposedly almost 50% of residents in that city are financially underwater and living in poverty.

I remember the lunatic economists and their so called "post industrial" economy. That they get paid for that insanity demonstrates a profound stupidity. What's next? The "post employment" economy?

What goes on here in Detroit is that the smart people saw this situation coming years ago and didn't have babies. Now there is a shortage of intelligent labor. The government will tell you that doesn't matter and that even monkeys can be engineers, but that is just another way of devaluing skilled labor. Europe is having the same problems, but unlike America, they seem to understand that intelligent people are an asset not trash. Remember the "dumming down" of America? The ship of state has been taking on water for a long time. There is another crash coming and it is going to be very ugly.

Personally I have best wishes for the developer and his model which reasons the replacement cost of the superstructure justifies rehabilitation, but I wonder if it will end up like the Pyramids.