NYC’s ‘Economic’ Blunder – Private Wealth Advisors

Wednesday, January 29, 2020

NYC’s ‘Economic’ Blunder

by Marty Mazorra CFP®, ChFC®

Founder & Co-Chief Investment Officer

Looking at a little demography this morning, with regard to New York, I couldn’t help but recall what I, frankly, viewed as a major economic (politically-motivated) blunder on the part of certain politicians who railroaded Amazon’s plans to place an HQ in NYC right out of town.

Here’s a look at New York’s net migration (as % of previous year population) since 2010:

Oh, and by the way:

“The amount of income leaving these states is a (>1) scalar multiple of the amount of people leaving the state. In other words, the tax base is leaving even faster than the people are.”

–Christian Drake, Hedgeye Risk Management

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Marty Mazorra CFP®, ChFC®

Founder & Co-CIO

is the author of "Making Lemonade: A Bright View on Investing, on Financial Markets and on the Economy" and "Leaving Liberty?: Essays on Politics and Free Market Thinking".

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