The economic crisis is having highly uneven geographic impacts. Detroit for one is being hammered. David Crary and Corey Williams of the Associated Press provide a detailed look.
The jobless rate has climbed past 21 percent, the embattled school district just fired its superintendent, tens of thousands of homes and stores are derelict and abandoned … “It’s a depression — not a recession,” McDuell said, with the authority of someone who has lived through both. “It will get worse before it gets better.”
Money quote: “Even with no hurricane or other natural disaster to blame, Detroit has — by many measures — replaced New Orleans as America’s most beleaguered city.”