Friday, August 8, 2008
The decline of the so-called "Rust Belt", which has been the subject of commentary for the past 30 years, has seemingly intensified over the last four or five: http://promo.realestate.yahoo.com/americas-fastest-dying-cities.html. To me, this is a sadder commentary on the United States in general. At one point in the not-too-distant past, this was a country which actually made things. Many of those manufacturing jobs were based in the Rust Belt--Ohio, Michigan, Pennsylvania, Northern Indiana, etc. Now, they are overseas, and an entire area of the country is suffering because of it. You can't just blame it on the failures of Big Three automakers (GM, Ford, Chrysler), though that this certainly a large part of the problem.