080: How Detroit Went Bankrupt

The Cardone Zone

Grant Cardone

Careers, Business, 025610

4.8 • 4K Ratings

🗓️ 19 July 2013

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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0:00.0	Hey there. This is Grant Cardone. You're in the Cardone Zone. Welcome.
0:04.2	And I'm here tonight to talk to you about your business, your finances, your money.
0:08.4	And folks, if you don't pay attention to what I'm telling you, you will pay a price as severe as
0:13.0	the price Detroit is paying going bankrupt this weekend. Detroit, great city, one of the greatest
0:19.9	cities not in the United States, just the United States. But in the world, 60 years ago Detroit was
0:25.2	known worldwide. People from all over the world came to visit the great city of Detroit.
0:29.6	And today, this week Detroit files for bankruptcy. And here's the bad news.
0:38.0	The same thing can and will happen to you if you don't pay attention to what is happened to
0:43.8	Detroit. What did they do? What mistakes did they make? How long have they known this would happen?
0:49.3	Folks, this is happening in Greece right now. It's happening in Spain. I say that it's happening
0:54.2	in California due to debt, theft, overspending, tremendous amounts of denial. And I know a lot
1:03.8	about denial. I'll tell you about that in a second. People lying to others and people lying to
1:08.8	themselves, people not living within their means and people, Americans, people in Detroit,
1:16.5	California, Spain, and Greece, people unwilling to take the tough actions that actually broke the
1:23.3	back of Detroit. And that's what I want to talk to you about tonight. How do you avoid that? I
1:27.2	don't really want to talk about how to fix Detroit. I want to talk about what you have to know,
1:30.9	what I have to do in order that this does not happen to me and you. And I'm concerned about you
1:36.4	right now because I see many of you right now falling into some of the same things, thinking,
1:43.3	actions, and denials that is taking place in Detroit. So let's just look at what happened in Detroit.
1:50.3	Great city. One of the world's greatest cities. All the automotive was there for years.
1:57.3	Production came there. We built manufacturing around it. Today Detroit is broke. And what broke
2:04.5	Detroit? Because what they're saying, what you'll read in the media is many say the Detroit is
	...

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