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Friday, May 13, 2005

As Michigan's economy falls apart

A couple of weeks ago, the big news was S&P's lowering the bond ratings for GM and Ford to "junk" status. Now, a couple of big auto suppliers are in big trouble--Visteon and Delphi.

This state makes a lot of things that people won't be able to afford soon. On the other hand, it is well-supplied with things that people desperately need--water and the ability to grow food. How this state survives and transforms in the next twenty years will undoubtedly be interesting, but hopefully not too terrifying.