Apr 15, 2016

First Detroit.... Now Chicago, "The Town Billy Sunday Couldn't Shut Down"

Is Turning In That Direction

Common Sense Commentary: I report on this trend, of the rich leaving U.S. cities like Detroit and Chicago, not because I am concerned with the rich but with those left in these cities who are not rich .... and can't leave. Especially those who have not caused their cities to become dangerous and disintegrating "hell holes". Absence of the rich may not seem like a great loss, but with their departure, to the same degree, goes jobs and tax revenues, further weakening those left behind. I write on the subject with no sympathy whatever for the Liberal Democrat Politicians in these cities who have, by their greed, corruption and dishonesty destroyed their cities. My concern is primarily the direction of the trend within what was once the most wonderful, successful and Christian nation in the world. These political blood suckers have, like gluttonous, human termites, eaten out the foundations of their cities and left crumbling shells unfit for honest human habitation. And yes, through ignorance, the majority of those left to suffer .... elected those parasites into public office and brought it upon themselves.  But as damaging as ignorance is, it is not nearly so bad as corrupt and evil intelligence, which is not unique in the halls of political power in Detroit and Chicago, but is present also in other large cities and even worse in our National Government. Washington DC a prime example. Detroit and Chicago are the beginning of a national trend... in the same direction ..... down. RB

Chicago Tribune Reports
Millionaires Leaving Chicago....
Racial Tension And Rising Crime

Millionaires are leaving Chicago more than any other city in the United States on a net basis, according to a new report. 

About 3,000 individuals with net assets of $1 million or more .... moved from the city last year, with many citing rising racial tensions and worries about crime as factors in the decision, according to research firm New World Wealth ....(How many of you believe the departure of wealth from Detroit or Chicago will reduce "racial tensions and crime"? RB)

Chicago was among four cities worldwide with the biggest flight of millionaires. Paris saw the largest exodus. 

The richest people in Illinois: Seventeen Illinoisans made the 2016 Forbes 400 list of the nation's richest people. The French city lost 7,000, or 6 percent, of its millionaires, followed by Rome, which lost 5,000, or 7 percent.  Chicago was next, followed by Athens. 

Most of the millionaires who left Paris and Rome fled their countries, while Chicagoans moved elsewhere in the United States, said New World Wealth. Findings of the New World Wealth report are consistent with a Nielsen study released late last year that showed Chicago is losing large numbers of affluent African-Americans. 

The Nielsen report found that the Chicago area has fallen out of the top echelon of U.S. cities when it comes to the percentage of black households earning more than $100,000. In 2000, Chicago ranked seventh among the cities with the largest percentage of black households with income at that level or higher, but in 2015, Chicago had dropped out of the top 10. 

In the New World Wealth report, the country with the biggest net outflow of millionaires was France, with 10,000. It was followed by China, Italy, India and Greece. 

The countries with the biggest net inflows of millionaires were Australia, the United States, Canada, Israel, United Arab Emirates and New Zealand. 

Sources for the millionaire-migration study, the third done by New World Wealth, include: interviews with about 800 millionaires a year; interviews with migration experts, wealth managers and property agents; property sales records; and tracking of millionaire movements in the media. 


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