Valuetainment - Is New York The Next Detroit？

00:00:00.000 What do you think about when you hear the name Detroit, meaning Detroit, Michigan?

00:00:02.960 What comes to mind? Do you think about wealth? Or do you think about poor? Crime? What do you

00:00:08.020 think about? Did you know Detroit's nickname used to be the Paris of the Midwest? Motown,

00:00:15.540 Motor City. Did you know in the 50s, Detroit was the richest city in the world per capita

00:00:21.800 until things happened? And we are looking at similar trends taking place with New York City,

00:00:28.460 the Big Apple, the central of the world, the capital of the world. Why is everybody or

00:00:33.660 majority of the people sitting there saying, I may be leaving New York. 50% of people making

00:00:39.800 over $100,000 a year income are considering leaving New York City. So today we're going

00:00:45.240 to dissect what happened to Detroit. Then I'm going to show you what's going on with New York City.

00:00:50.340 Then I'll give you a few mistakes New York City is making today on why they could potentially be

00:00:55.180 the next Detroit. So having said that, let's take a look at this. So 30 places in America

00:01:00.160 that are getting poor. Let's see which one is getting poor the most. This is an article that's

00:01:05.880 a month ago. If you go all the way down, top five, Buffalo, New York, Milwaukee, Newark, Cleveland,

00:01:13.040 look who's number one. Detroit, change in per capita income, minus 6,300, change in media income,

00:01:20.780 minus 42,000, change in population, minus 834,000 people have left, and change in poverty rate is

00:01:29.340 328%. So we just talked about what? The cities that are getting poor, right? Now let's take a look at

00:01:37.440 crime. CBS News, November 9, 2020. Three, four months ago, the most dangerous cities in America

00:01:45.380 ranked. Okay, let's go. Who's number 50? Rochester, New York. You know, who's number 35? New Haven,

00:01:51.440 Connecticut. Who's number 29? Dayton, Ohio. Who's number 20? Chattanooga, Tennessee. Who's number 12?

00:01:57.400 Oakland, California. Who's number four? Baltimore, Maryland. Who's number one? Detroit, Michigan

00:02:03.340 is number one. In 2019, 275 people were murdered. Detroit overlook St. Louis as a nation's new most

00:02:11.280 dangerous city. Detroit's violent crime rate is 1965 incidents per hundred thousand. Now when you see

00:02:17.840 this, we got to go a little bit deeper. Here's some data for you to be thinking about. Detroit's

00:02:22.620 population has plunged over 63% since 1950s. It's down 26% since 2000. Unemployment rate in 2009 cracked

00:02:32.700 27.8%. Unemployment rate in 2013 at 16%. Even though the population fell 63%, municipal workforce

00:02:41.260 fell just by 40%, adding to the strain on public finances. Again, what does this mean? This is

00:02:47.900 population leave-in, which is 63%, but municipal, meaning city employees, only dropped 40%, meaning they

00:02:57.320 had more government employees in Detroit that taxpayer are paying their jobs. They kept their

00:03:03.320 jobs, but people who are creating the jobs, paying the taxes, they left. That is catastrophic for that

00:03:09.280 to be taking place, but it tells you how politics is killing Detroit. Detroit has the highest violence. 0.72

00:03:14.380 You see all this. It's five times higher than the national average. 40% of the streetlights don't work.

00:03:17.960 78,000 structures and 66,000 lots are abandoned. Arson accounts for 1,000 to 12,000 fires per year.

00:03:25.740 60% of those arson fires are dilapidated or empty buildings. Now let's go even a little bit deeper

00:03:31.900 with Detroit because we're about to get into New York in a minute, but stay with me here.

00:03:35.560 Detroit owes $14.9 billion in debt. By comparison, the total debt by all the other Michigan cities

00:03:42.840 combined at less than $12.8 billion. Let me say this one more time. Detroit, one city in Michigan

00:03:49.120 owes $14.9. All the other cities in Michigan, it's a big state, is only $12.8 billion. And what

00:03:56.020 they're bringing in in Motor City is $325. Operating deficit last year was more than $325 million.

00:04:04.260 They're not even paying their long term. They're just like, listen, we can't even pay for it. They have

00:04:08.060 no plans of paying the debt. They're just kind of saying, look, we're not in a good situation. We don't

00:04:12.300 know what we're going to be doing, but how do we get here? How do we get here? So Detroit,

00:04:16.160 1701, founded by a Cadillac, literally the French settler named Antoine. Cadillac to be exact.

00:04:25.000 Fact, city is the name Detroit River, which the word Detroit in French means straight. 1760,

00:04:31.940 there's a big war that lasts a long time for Detroit. Eventually 1796, Detroit finally is under

00:04:38.800 American control. Population in 1890, that's 30, 24 years later. It's $205,000.

00:04:45.100 205,000 people. Population in 1920, 1 million. From 1910 to 1950, the city was a boom equal to any

00:04:52.380 gold rush we've ever had in America. Fact, in the early 1900s, Detroit was the automotive

00:04:57.400 capital of the world. Henry Ford founded Ford Motor Company in 1903, while Dodge Brothers and Chrysler

00:05:03.020 also did business in the same city. 1950, car makers from Chrysler to Cadillac, Studebaker to Dodge had

00:05:09.400 plants in or near the city limits at 138 score miles. The city could accommodate Boston, San Francisco,

00:05:17.440 and Manhattan all within its city limits. 1950, look at the population, 1.8 million. From 205,000

00:05:24.820 to 1.8 million in 60 years. 200,000 out of that 1.8 million worked in manufacturing,

00:05:30.760 which is about 1 in 10. 1959, Barry Gordy launches Motown Records. Who are the big stars he gets?

00:05:36.600 Michael Jackson, Jackson 5, Stevie Wonder, The Temptations, The Supremes, Diana Ross, Marvin

00:05:40.920 Gantt. I'm talking like goats is what they get. 1960, Detroit is the richest city per capita

00:05:46.700 in America, according to the U.S. Census Bureau, which becomes the richest city in the world is what

00:05:52.760 we're talking about, right? What else did they do? Their stoves, ships, cigars, pharmaceuticals,

00:05:57.160 beer, rail cars were also produced during this time. 2013 population from 1.8 million, it goes to

00:06:04.020 what? 714,000. Fewer than 20,000 people of the 714,000 working manufacturing, 1 in 50. Remember

00:06:12.320 what it was? 1 in 10, 200,000. It goes from 200,000 to 20,000. That's 90% drop-off. The population

00:06:19.820 of Detroit has fallen back 100 years. Obviously, we can't go into this, the exodus on what's happened.

00:06:25.260 Why the decline? Racial riots in 1967 engulfed the city, but the most destructive one of court

00:06:32.100 in 1967, a police confrontation sparked a five-day riot that left 43 dead, 467 injured,

00:06:38.440 7,200 arrests, and more than 2,000 buildings destroyed. Now crimes, 7 out of 10 crimes are

00:06:43.780 unsolved. You know what this reminds me of? It's what happened in New York City during COVID.

00:06:48.940 The riots that was taking place, you kind of see some of the similarities. Watch this.

00:06:52.860 Lost tax revenue when population declined, lack of industry diversification, globalization of car

00:06:59.260 industry, and then obviously a bunch of different things that happened there.

00:07:03.660 White fight, 1960 Detroit population was 1.6 million. Blacks were 29%, whites were 70%. Today's 0.98

00:07:09.620 black comprised 84% of the population in Detroit. Let me read this one more time. Blacks were 29%, 0.99

00:07:15.720 70%. It was good to go. Today's 84%. White's is 8%. It was more, what do you call it, balanced. Now it's 0.97

00:07:24.200 more lopsided on what's taking place. And the poor are taking the biggest hit today in Detroit due to

00:07:30.380 certain policies that the city came out with. So if you look at the other plans, now there are just two

00:07:36.260 big factories left in Detroit, Chrysler and GM. The number of vacant housing units doubled in the past

00:07:42.640 decade to nearly 80,000. I can go on and on showing that. Let me just give you some interesting data

00:07:47.160 here. Look at this one here. A home costs less than a car in Detroit. Let me say that one more time.

00:07:52.980 You buy a home in Detroit, it's cheaper than buying a brand new car, okay, in Detroit. Median listing,

00:07:58.060 $21,000. Comparable to a car, $21,000. Chevy Malibu. Housing price, 5.2%. Median household income,

00:08:04.840 $29,000. Unemployment, 9.2%. How bad is it when you call 911? You ready? 58 minutes.

00:08:12.200 You call 911. 58 minutes before a cop shows up. That means you call 911. You say, I'm about to rob

00:08:19.500 a bank. You go rob the bank. You leave. The cop still hasn't shown up and you ran away with your 0.94

00:08:25.760 money. That's how bad it is right now in Detroit. 8.7 times a crime by police. 21 minutes approximate

00:08:32.980 time it takes to respond to first calls, fires. Only 35,000 of it. You get the idea of what's

00:08:37.880 going on here with the stats and top 10 celebrities that born out of Detroit. Tim Allen, Sonny Bono,

00:08:44.040 Jerry Bruckheimer, Bruce Campbell, Alice Cooper, Eminem, Madonna, Tom Selleck, Jeff Daniels,

00:08:49.140 Francisco. I mean, Detroit was Detroit when you think about this place. I'm going to put the links

00:08:53.780 below for you to be thinking about it. But a bigger part of what happened with Detroit is taking place

00:08:58.920 today with New York. This article here, every one of these I'm reading, I'm going to put below for

00:09:02.900 you to read. This may be a good one for you to read. It's the following. Imagine a city where all

00:09:07.620 the major economic planks of the status or progressive platforms have been enacted. A

00:09:12.300 living wage ordinance far above the federal minimum wage for all public employees. Everybody want, you

00:09:17.480 know, the politicians right now saying let's do $15 minimum wage. A school system that spends 0.96

00:09:21.300 significantly more per person than national average. A powerful school employee union that

00:09:26.640 militantly defends exceptional pay, benefits to job security. It has one for its members. Other

00:09:32.080 government employee unions that do the same for their members. A tax system that aggressively

00:09:36.360 redistributes income from businesses and the wealthy to the poor and to government bureaucrats.

00:09:44.540 Do you notice that happening anywhere else? Maybe a great city called, I don't know, New York City?

00:09:49.240 Now let's look at some of the stats with New York City. Here's Wall Street Journal, okay? Wall Street

00:09:53.240 Journal comes out with an article, the old New York won't come back. This is just a week ago,

00:09:57.640 okay? Look what it says here. Here are some numbers from the partnership from New York City

00:10:03.100 Business Group. The city has lost 500,000 private sector jobs since March 2020, COVID. Tens of

00:10:09.360 thousand small businesses, 5,000 restaurants have closed. Less than 15% of office workers are back in

00:10:16.180 the workplace they left a year ago. Let me say this one more time. Less than 15% are back. It should say

00:10:22.480 something different. It should say 85% are not back. So that means if there's a thousand employees,

00:10:28.340 850 employees are not back. They're still at home. They're not working. Then you continue.

00:10:34.200 Tourism and approximately $70 billion industry won't be back until theater is back. When?

00:10:38.940 Judith Miller had a good piece in City Journal on how Broadway's older houses can't be

00:10:42.660 retrofitted for social distancing and still make a profit. No one is sure theater goers will rush back.

00:10:49.020 Theaters will be reborn. Man will always have shows and stories, but as what? Whatever comes,

00:10:53.480 hybrid productions, etc. So you read this part. Then you come here. Look what this one says. This

00:10:57.700 is the scary one. 300,000 residents of high-income neighborhoods have fled change of address forms

00:11:05.460 with the U.S. Postal Service. You see, New York cannot hide this data because it's U.S. Postal Service

00:11:11.660 saying 300,000 residents have changed their address. New York City, maybe you're doing something wrong.

00:11:20.080 You know where they are going to? To lower income tax, no income tax states. Those that have a

00:11:26.620 friendlier attitude towards money-making and that presumably aren't going hard left. Florida has

00:11:33.160 gotten so cheeky that this month, its chief financial officer, who's a value-tainer, sent a letter

00:11:39.180 inviting the New York Stock Exchange to relocate to Miami. Well, let's see what else this is going to

00:11:44.240 tell us here. This is from NYPD. This is not me. This is NYPD two months ago. Ready? At the same

00:11:51.620 time, the New York PD in 2020 confronted a plus 97% increase in shooting incidents. This is during

00:11:59.100 COVID where people are apparently staying home. 97% shooting goes up. 44% increase in number of murders

00:12:06.380 amid the challenges of an ongoing international health pandemic that has strained city residents

00:12:11.940 and that the police sworn to ensure public safety for everyone. Burger release increased by 42%.

00:12:17.440 Car theft increased by 67%. Through it all, NYPD has worked to mitigate violence as reflected in a 29%

00:12:24.580 increase in an annual gun arrest for 2020 versus 2019, including 2057 gun arrests in the last four

00:12:29.980 months. I mean, this is NYPD. This is not any other person that's saying this. And then if you look at this

00:12:36.380 the top 15 most expensive cities in America to live in, go to number one, what do you think is

00:12:42.640 number one? Okay. Manhattan. Okay. Oh, Manhattan, medium home prices, $2,045,000. Let me say that

00:12:51.440 one more time. Medium home prices, $2,045,000. Median monthly rent, $5,100,000. Okay. Then you go to

00:13:03.200 number three, number two is San Francisco, most expensive. Then it's Honolulu, who's number four,

00:13:07.620 Brooklyn. Number five, Washington, et cetera, et cetera. Look who's number 10. Ready? Number 10,

00:13:12.540 Queens, New York. Three out of the 10 most expensive cities in America to live in is in New York. And if we

00:13:18.800 continue and look at this, you see articles like this. This is just four months ago. If the wealthiest

00:13:23.280 New Yorkers flee the city, they could take more than $133 billion with them. A report from Bloomberg

00:13:30.000 found that the top 1% of New Yorkers had a combined of $133 billion in income in 2018 that paid, you

00:13:36.500 ready? All these rich people, all these evil rich people, they paid 42.5% of the city's total income, 0.58

00:13:44.080 including AOC salary, just so you know, was paid by all these rich, greedy people. That means 0.46%

00:13:52.300 of the city's population accounted for a whopping $4.9 billion in tax revenues. Obviously, those wealthy

00:13:57.200 New Yorkers leaving could be a major blow to the city's economy. And a number of ultra wealthy city

00:14:01.740 residents may have already shrunk due to pandemic. I can go into more data here to give you, but, you know,

00:14:07.240 estimated $300 billion of wealth has left. And even before COVID, 2,600 people a week were leaving

00:14:15.700 New York. This is not a new thing. They let everybody. They were losing 360, 376 a day. LA was

00:14:22.880 number two at 260. Florida receives it. Georgia's receiving it. Houston's receiving it. Austin's

00:14:28.000 receiving it. Phoenix is receiving it. Dallas is receiving it. Illinois is losing it. That's that

00:14:32.740 great city of New York, leaving New York high earners in finance and tech, explain why they

00:14:38.260 left the world's greatest city. And this explains all the different stats on what they left, different

00:14:42.940 stories. I left for taxes. I left for freedom. I just kind of want to be left alone, et cetera,

00:14:48.680 et cetera, et cetera, on what New York city is going through. So what does all this stuff have to do

00:14:53.160 with anything? Here's what it has to do. Um, Detroit creates an incredible economy, ridiculous jobs,

00:15:02.560 200,000 manufacturing, rich people want to go on vacation. They go to Detroit. Oh, we're going to

00:15:07.000 go to Detroit. Most beautiful homes, incredible income being made, crushing it, helping out the

00:15:12.820 country, creating economy, innovation. Then politicians show up. You're too rich. They're

00:15:18.900 making way too much money. This is not fair. And people are like, what do you mean? This is not fair.

00:15:22.860 They should pay you more. You think they should pay me more? They should pay you more. Maybe they

00:15:26.760 should pay you more. No, they should pay you more. You go to, you should pay me more. Now they divide

00:15:31.860 the employee with the employer. Okay. Now there's fight. Politicians are winnings. Oh, we got division. 0.97

00:15:36.780 This is good. Now they come to me. You need me politician. I'm going to get it done for you

00:15:41.280 because you need me. And I'm going to fight for you because it's all about you. I'm the politician.

00:15:46.060 I am here for you. Oh, thank you so much. Thank you so much. The boss says, oh man, one employee,

00:15:51.600 50 employees, a thousand employees, 10,000 employees, 20,000 employees. We're sorry.

00:15:56.420 Maybe you're right. We're bad people. Guess what? We're leaving Detroit. Good luck finding a job.

00:16:01.360 But, but, but no, no, no, no, no, no, no. I didn't mean leave. I just mean like maybe pay me a little

00:16:07.980 bit more. No, no, it's okay. No, no, we're bad. We're bad. You go ahead and figure out a way to work

00:16:12.160 for somebody else. Okay. Maybe I'll go to the next car company and I'll bitch at them. And then the other

00:16:17.500 one leaves and then the other one leaves and you go from 200,000 manufacturing jobs to 20,000

00:16:22.260 manufacturing jobs. And the same trend, you are sitting in a beautiful city called New York City.

00:16:27.880 One of my favorite cities in the world is New York City. I enjoy the food. I enjoy the culture.

00:16:34.620 I enjoy the melting pot. I enjoy the accent. I enjoy the swagger. I enjoy the fire. I enjoy the

00:16:39.580 competition. I enjoy the shopping. I enjoy everything about New York, except for the policies.

00:16:46.800 It's the policies that are destroying New York because the policies of an AOC is sitting up

00:16:52.820 against the Jeff Bezos and saying, all you care about is rich people. You want to bring 25,000

00:16:57.620 jobs in New York City because you want to raise rent in New York City by bringing 25,000 jobs to

00:17:03.160 New York City with an average salary of $150,000 a year. No, we're not going to do that. Jeff Bezos

00:17:08.440 cannot come. We're not giving him no tax benefits. And Jeff says, okay, cool. No problem,

00:17:13.820 buddy. We will leave. They left. Amazon becomes nearly a $2 trillion company. It's a very big

00:17:20.520 company today. And New York could have benefited from it. But AOC didn't like that because it's

00:17:25.460 too high of a salary to bring to New York City. God forbid those rents are raised all of a sudden

00:17:29.440 the $5,100 rent that's going to be raised as if it's not high already. So you know what happens

00:17:35.300 when you're like that? Here's what happens when you're like that. When you're married to somebody

00:17:39.740 or you're dating someone and things are good with you and her or things are good with you and him.

00:17:45.400 Everything's good. Then you go home. Your mother or your in-laws or your friends or somebody says,

00:17:51.160 he should spend more money on you. Why doesn't he buy you better stuff? Why are you wearing these

00:17:55.860 clothes? You should wear nicer clothes. Why don't you have the latest shoes? I hear he's rich.

00:18:01.200 Shouldn't he buy you a nicer car? Shouldn't he? And there's a, well, no, but he's nice. He's good.

00:18:05.580 No, he should spend more money on you. Then the girl comes home. Well, babe, um, I think I deserve

00:18:11.980 this. And the husband's like, I'm sorry, what are you talking about? Well, I think I deserve this.

00:18:16.800 Babe, I'm so confused. Like we were just good like the last week. Yeah, but I don't think you're taking

00:18:20.820 care of me. And guy's confused. Where are we going with this? Or vice versa. You know, guy goes to work

00:18:27.320 and he goes, if I was your girl, I would do this for you. I would do that for you. I would do this for

00:18:31.680 you. Okay. Then you come home and say, babe, you don't do this for me. You don't do nothing for me.

00:18:36.100 Babe, what are you talking about? What do you want me to do for you? That message, that voice,

00:18:40.940 that's the politician. Once it comes into marriage, it divides. And eventually there's a divorce. 0.97

00:18:45.880 And eventually the other person that leaves is going to say, you know, he wasn't as bad as I

00:18:50.020 thought he was. He took care of me, gave me a nice place, was respectful to me, was a great father,

00:18:55.260 or she was actually good to me. She was a good wife. She did this. She was also a worker. She was also a 0.99

00:19:00.780 provider. She was playful. What the hell was I thinking? New York City, if you're listening to this,

00:19:06.480 agree, disagree, fine. Go do your own research. And the next time you think about voting for your

00:19:11.280 politicians, do not let politicians that have access to more wealth than ever before in New York

00:19:16.160 divide you against job creators. Because it's the job creators and the innovators that made it possible

00:19:23.860 for New York City to become the financial capital of the world. And hopefully the populace of New York

00:19:30.940 City, who are the employees working maybe for the employer, doesn't all of a sudden turn against the

00:19:38.280 employer and force them out of your state. Because they will gladly come to Florida, go to Texas,

00:19:44.440 go to Tennessee, and move all those jobs that they have today in New York. Having said that, I want to

00:19:49.980 hear your thoughts, comment below, but I've got another video for you to watch. It has to do with

00:19:53.640 why 15,000 apartments in New York are empty today. If you haven't watched this video, click here to

00:20:01.020 watch it. Take care, everybody. Bye-bye.

Valuetainment - March 09, 2021

Is New York The Next Detroit？

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