The late and great Margaret Thatcher had it right (as usual) when she said of Communists that sooner or later, they run out of other people’s money. What’s happening in many of the neo-socialist hellholes like New York lately is that the “other” (i.e. wealthy) people aren’t necessarily running out of money, they’re running out of patience with the filthy nest their government has created, and are running away.
It’s snapshot simple. The wealthy and the companies they work for pay most of the taxes. The poor consume most of the taxes through social programs. COVID is driving the wealthy and their offices out of the city. No one will be left to pay for the poor, who are stuck here, and the city will collapse in the transition.
Of course, that would be bad enough, because even if the wealthy folks came back to their Upper East- or West Side domiciles once the Chinkvirus had subsided, NYFC could continue to fleece them in the manner to which everyone has become accustomed. But if their toney little brownstone houses and chi-chi apartment buildings are surrounded by homeless, aggressive beggars and rioting assholes of the BLM / Pantifa persuasion, the millionaires and billionaires will say (and are saying) “The hell with this shit” and leave for more hospitable climes — and their companies will go along with them.
I have another post bubbling under about the death of the traditional office-work model, but that can wait for another time.
What’s really interesting, from a socio-political perspective, is how quickly this has happened. It might have happened at some point or another anyway, as the Blue Model metropolises collapsed under the weight of their underfunded pension plans and failing social services and infrastructure — but the Chinkvirus has been the Catalyst Supreme for our little domestic Lenins and Maos. What’s even more interesting is that, being economic illiterates, our socialist pols have looked to Europe, their favorite model, and said, “But France isn’t collapsing!”
Oh yes, it is. The difference is that rich Frogs can’t exactly load up U-Hauls and move to — where? Germany? Belgium? Britain? It’s the same situation in those countries. There are no prosperous and successful business-friendly, low tax states in Europe like Texas, Florida or Utah — they’re all soft socialist states; and the Chinkvirus is having the same effect on their economies and traditional business models as it is in New York, Chicago and Los Angeles.
So even in the best of times (booming Trump economy, no virus, no BLM / Pantifa riots), Illinois, California and New York — to name but three — would be sucking wind soon enough, and the writing has been on their walls for some time. But in the current environment? They’re screwed.
My only concern, as I’ve often said before, is that these fleeing rats don’t come to our happy little ships and infest them with their shitty ideas and political morality.