RUSH: Reuters is reporting on what has happened to the New York City population in the wake of the coronavirus. Millions of people have moved out of the city during the pandemic. But millions of other people have moved in.
The problem for New York is: those who left took their money with them.
After examining the data about those moving out, and those moving in, a “location analytics company” says those who departed cost New York $34 billion in lost income. The wealthy have gotten out. They’re gone. And the people moving in are poorer. The three and a half million people who’ve moved into the city have lower average incomes than the escapees.
This will have lasting consequences for New York. Everything from real estate to retail businesses will be negatively affected. Not to mention less tax revenue for elected Democrats to spend.
Yesterday I told you Governor Cuomo and Bill de Blasio want to shut down New York’s economy yet again. Which will increase job losses, business closures, and the number of people who can afford to leave – leaving.
Shutdowns have consequences, and another shutdown means another disaster for a city that literally can not afford another one. But at least there will be more poor people than ever moving in. A silver lining, I guess. To liberals. They claim to love them, they claim to want to protect them. So have at it.