bad news for MI (Detroit: job, university, invest)

[aaronfff]

The big focus Friday was on tax revenues, but economists also delivered bad news about the economy. Joan Crary with the university of michigan estimated that domestic automakers share of vehicles sold in the u.s. could drop below 50% for the first time in 2008.
Hardly anything good for MIs economy can come from this. she said.
Cray also said the state's unemployment rate the highest in the nation will be 7.5 percent in 2008. above the estimated 6.9% rate this year.
Job losses are expected to continue through next year before possible gains in 2009. through the rate of job losses may be lower than in recent years.
Sam Kahan, senior economist with the Federal Reserve's Detroit branch said there is little evidence so far of a turnaround in MI.
If you want to be an optimist, it's meager He said.
Forget the mexicans, soon we'll have fefugees streaming
from our northern border.
The only glimmer of hope in this artical is possible job gains in 2009,shich means they've thrown up their hands and said it's dark as far as I can see,
there is no light at the end of the tunnel.

[baystater]

The bad news you bring for some is a blessing for others. Outsiders like me are watching and waiting for the bottom to hit. Yeah I might take some time. but time what I got. And soon if all goes right my money will be nicely invested in your state at dirt cheap prices. Again I got time. I can wait for Michigan to turn around, say about 2012 - 2015. As a couple of us say on this board "Buy low, Sell High."