About a decade ago, then Governor of New York, Andrew Cuomo, was on national television recruiting businesses to come to the state. He was offering numerous economic incentives. It was obvious that New York was having tax base and employment problems. I wonder what he is thinking about the ramifications of the Trump trial on New York City and New York state.
Trump and his family have been under assault for a number of years now, and his run for Presidency has accelerated the political weaponization of the American justice system. By far the most obvious of this assault on justice have been the E. Jean Carroll sexual assault trial and the recently concluded real estate fraud trial. At risk to billionaire Trump is economic damages approaching $500 million dollars which will be appealed. But there is another side to this situation:
These two trials have revealed a very unscrupulous and corrupt justice system in democratically controlled New York. If the politicians of that state don’t like you for whatever reason, they will punish you through the courts. Businesses now see that doing business in New York City and New York state is dangerous and high risk. One politically unpopular move and you can be put out of business. This weaponization of justice is not a recipe for success either in business or government. (My estimate is these trials have not only cost New York City the Trump empire but also a lot of other business empires employing or involving tens of thousands of people. We could easily be talking about hundreds of billions of dollars in loss to both New York City and the State.)
New York City is already in trouble with a massive influx of illegal aliens needing expensive welfare services. It is also experiencing all too easily seen violent crime on the streets. Hard working residents have had enough and many are leaving. Tourism is down, and hotel rooms are either unavailable or dominated by illegal aliens in residency. The Mayor of New York City, an advocate for sanctuary cities, is now screaming that his city is being overwhelmed. (He is correct but he created the problem and is now trying to pass the problem onto the backs of long term residents who are in rebellion against what they see as policies and actions favoring illegal aliens and criminals over working class needs.)
One additional point to ponder, American truckers are now threatening to boycott New York City in protest of the Trump trial decisions. While the size and scope of this boycott is unknown, it is noteworthy that the farmers of Western Europe recently erupted in rebellion against the dictates of their oppressive governments. Manure was sprayed over government buildings and roads were blocked with tractors and hay. (The Western European people who work for a living have had enough of the political corruption and abuse. The working class of America appears to be following suit.)
Donald Trump has stated numerous times that the real target of the Democrat communists and socialists now in charge of the American government is the American citizenry. So far, he is correct and the New York City trials buttress his allegations.
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Virginia has a rainy day fund that is invested. The risk is presumed to be minimal but the state still has a fiduciary responsibility to keep tabs on risk to protect the fund and thus the taxpayers. If any of the rainy day fund has exposure to New York City via REITs or other real estate investments, Virginia’s comptroller needs to evaluate the increasing risk and move money to safer investments. The Trump debacle is causing real estate investors to leave NYC and property values already depressed are likely to fall further over the next couple of years if not longer. Virginia doesn’t want to be caught in the backwash.
Shipping companies are now joining truckers in boycotting nyc. One thing democrats don’t realize is that many companies keep inventories low and depend on real time deliveries. When delivery shortages hit nyc groceries, the stores won’t be able to restock. I suspect panic buying is beginning to happen and if the situation gets bad enough there will be food riots. It will also be interesting to see what happens to the port of New York if ships are diverted.
And talking about stupid, Governor hochul of New York essentially admitted that the prosecution of Trump was political. You may not be able to fix stupid, but you can punish it. And the voters of nyc are responsible for this looming debacle as they vote democrat in extremely large numbers.
It is not freedom. it is tyranny sponsored by the democrat party which is now ruled by communists and socialists. And we can’t excuse our GOP elite who have become RINOs in too many cases. The only justice to be had is now in our hands. Don’t do business of any kind with New York and NYC in particular.
I like not conducting commerce in the corrupt liberal areas but how to deal with the RINO’s especially the illegal alien first Republicans?
Maybe build a small 12 unit 3 Building Apartment Complex using nothing but illegal aliens (independent contractors) then rent all units as government rentals for illegal aliens, sit back and let the $54,000.00 payments be direct deposited via the government.
I could do this in the very Red New River Valley and then still use the illegal labor that’s exploiting our safety net housing to undermine the workforce in the liberal Blacksburg area.
Seems far fetched but is RINO’s in Virginia have made these conditions ripe for the picking.
Who was it that said Government can’t problems, Government is the problem?
Man Regan was half correct; Government can’t fix problems but current Virginia History shows us the people running Government can be the actual problem.
W,
This is “progressives” at work, the elected dictate the monetary value of property in a Free Enterprise Economy.
Reason here again;
New York State can look into loan applications of businesses to see if the business is overestimating its property values for loans made by another business. Now no crime or victim is created but New York can still bring a civil suit for overestimating the property values in spite of the lender claiming it’s common and the lender makes the loan based on “their assessment” & the borrower pays back the loan (legal commerce), I don’t understand does New York now research all loan applications?
Now flip it back to the State;
Should property owners and businesses be able to bring forth lawsuits against municipalities for overestimating property values just to increase taxes.
Now that is something that we all have encountered.
Sue the State for overvaluation of property to extort State inflated tax base!
Reagan;
“Government can’t fix the problems, Government is the problem”
Folks,
Do you want the Government or a Judge like this a $$ clown to limit the mortgage you can apply for?
This will not only limit the kind of home you want but where you live,
THAT’S NOT FREEDOM!
Realistically, the New York government has confiscated the Trump property in the state. They can certainly do the same to the average resident’s property to house the illegals. First step is voluntary until the word gets out about how bad it is. Then the next step is mandated housing in spare rooms if not actual confiscation of things like summer homes. This is actually happening in Europe as the tribal africans and Muslims overwhelmed the various nations.