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Jason Burack
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Investor, Entrepreneur, Financial Historian, Austrian School Economist, Investment Analyst, and Contrarian. Co-founded the investor education, financial education and consulting company, Wall St for Main St, LLC in 2009. I've taught beginners how to invest and also consulted for high net worth... More
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  • winnachickendinna
    , contributor
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    They can turn Detroit into a National park (probably make money doing so). Truth is, when you let a weed grow a few years it becomes a tree. Kind of like silver.
    9 Oct 2013, 02:10 PM Reply Like
  • Jason Burack
    , contributor
    Comments (1817) | Send Message
     
    Author’s reply » Detroit used to be mostly organic farmland prior to its auto manufacturing boom brought on by Henry Ford, GM, etc. I think they became way too reliant just on the one industry. Should of had a more diverse economy. The local politicians, municipalities and bureaucrats also spent all their budgets and kept increasing government spending on the false assumption the economy in Detroit would keep improving. Keynesian Economics is inherently flawed as Jim Rogers says. A tree cannot grow forever.
    9 Oct 2013, 03:24 PM Reply Like
  • Jason Burack
    , contributor
    Comments (1817) | Send Message
     
    Author’s reply » Also, Detroit has turned almost exactly into the town Ayn Rand wrote about in Atlas Shrugged where John Galt designed the static electricity engine for 21st Century Motors in Starnesville. There will be more Detroits in the US. It's guaranteed.
    9 Oct 2013, 03:25 PM Reply Like
  • winnachickendinna
    , contributor
    Comments (34) | Send Message
     
    I can't disagree
    9 Oct 2013, 03:40 PM Reply Like
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