How Detroit Went From RICHEST City in America to BANKRUPT

How did Detroit go from the RICHEST city in America to bankrupt? In 1950, Detroit had 1.8 million people and the highest median income in the US. By 2013, it filed the largest municipal bankruptcy in American history — $20 billion in debt. We break down the real causes: the 1967 Detroit riots, white flight, Japanese cars vs the Big Three, deindustrialization, corruption at City Hall, and the 2009 GM/Chrysler collapse. This is Part 2 of our 3-part Detroit series. Part 1: The Rise of Detroit — out now Part 3: Detroit Now — coming soon CHAPTERS: 00:00 - The Shocking Fall 00:31 - When Detroit Was King 01:51 - Motown and the Soul of the City 02:41 - The Highway That Killed It 04:01 - 1967: Five Days of Fire 05:31 - Japan Destroys Detroit 06:51 - Factories Become Ghosts 07:41 - The Death Spiral 08:51 - Corruption at City Hall 09:41 - 2009: The Final Blow 10:21 - Bankrupt 11:01 - Next: Detroit Now #Detroit #Documentary #USEconomy