NYCBiz: Until DeBlasio and Cuomo are OUT, No Chance of us bringing businesses back
Hal Turner Radio Show
New York City business owners have come to a brutal decision: “Until Mayor DeBlasio and Governor Cuomo are OUSTED, there is ZERO CHANCE we will bring our companies back to New York.”
Such is the statement from the New York Business and Merchants Association, issued just minutes ago after a boisterous meeting in Manhattan.
The group’s president, Noah Rabinowitz said that business owners are furious that DeBlasio and Cuomo allowed criminals out of jail through “no cash bail required” and held back police when mobs rioted and looted the wealthiest business areas of the city.
Few if any businesses which were boarded up after the looting, have even begun any kind of reconstruction or restoration. Now, New Yorkers are finding out there’s no chance of those companies coming back until the voters get rid of the Mayor and the Governor.
“We don’t care if DeBlasio and Cuomo resign or are removed through some type of recall or Impeachment process, but until those men are out of power, New York City has no chance at all of businesses coming back” Rabinowitz said.
“These politicians acted as if we are pawns for them to sacrifice as they see fit; but we’re not the pawns, THEY ARE” he continued. “It is OUR money they rely on to exist; OUR money they need to stay in power, and that money is over for them. No more sales, no more sales tax collections, no more property tax payments, no more jobs, no more income taxes from those jobs. Let the city take the buildings, we would rather walk away than subject ourselves to these political maniacs anymore.” he said.
According to a report from New World Wealth and Webster Pacific, the combined wealth in the Big Apple fell by $336 billion in the 12 months ending June 30.
New York City’s total wealth was valued at $2.66 trillion, compared with $3 trillion during the same period last year. And these numbers only grew worse in July and early August. It is now rumored among those who know, that a full TRILLION DOLLARS in total wealth has left New York City alone, and more wealth is leaving every single day.
New Yorkers seem betwixt and between over this new twist in city/state affairs. Upper West Side residents we spoke with, Frank and Madeline Beatrice’ said they understand why the business owners are doing this; they were actively loading furniture into moving trucks as they too are abandoning Manhattan. But Sarah and Ryan Corsey said “It’s a terrible shame so many are leaving. The city can be a nice place again some day. We’re Democrats and would never cause trouble for our party by asking officials to step down. It’s not their fault, they just made a few bad choices is all” they continued.
(HT Remark: Bad Choices? Such is the mental ability of Democrats)
Almost half a million of the wealthiest New Yorkers have already up and moved out of the five boroughs. Rental prices have been cut on empty apartments by up to fifty percent, and still there are few if any takers.
Real Estate values are plummeting in the five boroughs of New York City, with posh, prime properties falling to prices not seen in DECADES. Yet, as with the empty apartments, there are few if any buyers for what used to be some of the choicest real estate anywhere.
One Realtor we spoke with, who asked we not use her name, told us: “People were driven out by the rioters and looters, no one feels safe here anymore. Then the Mayor goes and pats the looters on the back with his mural in front of Trump Plaza; that single act told New Yorkers to get out now while they still could because the top city officials backed the rioters. And of course, they were the ones who held back the cops, so the message is clear: New York City is back to law of the jungle.” The Realtor was referring to the “Black Lives Matter” painting on Fifth Avenue in front of Trump Plaza.
On Fifth Avenue, residents told us they were furious with the Mayor. “This street is not his personal political billboard. He doesn’t own this street, the People of New York own this street. He needs to get his shit paint job off our road and mind his business.” said “Carlos” who works in one of the nearby buildings.
As the wealthiest move out of the city, the tax base leaves with them. The wealthiest one percent of New Yorkers pay forty percent of all taxes. With those earners now gone, the city will face Bankruptcy within 18 months. And as property owners walk away from commercial real estate, and stop paying property taxes, the city and state will utterly rot without the cash.
Meanwhile, tax collections in New York City dropped 46 percent in June, even while revenues generated in other parts of the state recovered. That decline follows a 32 percent drop in May and a 23 percent decline in April.
In May, the state’s comptroller said the economic devastation facing New York had not been seen since the Great Depression.
Property owners abandoning real estate. Businesses refusing to rebuild or come back. Taxes not coming in. It all adds up to New York City becoming the next Detroit. The slide into the abyss is already visible and accelerating.
The emptiness of Times Square says it all . . .
