Foreshadowing: Detroit
and the United States
Posted by David DeGerolamo on July 19, 2013 at 9:25am
Foreshadowing or adumbrating is
a literary device in which an author gives hints of
certain plot developments that will come later in the story.
The news story of the hour is the Detroit
bankruptcy. The pundits are pointing fingers and wondering how this could have
happened. The consequences of the city's fiscal mismanagement will be decided
in court but again, the pundits are giving their opinions on who will pay.
Let's look at this bankruptcy from a different
perspective. I believe that the bankruptcy of Detroit is a foreshadowing of the
economic collapse for the United States. Not a depression. Not a great
depression but a complete economic collapse. Take any of the "causes" for the bankruptcy in
Detroit and there is a corresponding cause in the United States' federal
government. Even normalizing the statistics based on the scale of the two
economies, the United States is in a worse financial condition than Detroit.
Pending a bailout by the federal government,
look to Detroit for the future economic state of the country. If you are living
on a government pension or are owed money by a governmental agency or
department, adjust your finances accordingly. As stated at the beginning of
this article, "adumbrating" is another term for foreshadowing. The
irony of "a dumb rating" in the case of Detroit and the United States
is self-evident.
David DeGerolamo
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