While financial indicators delivered a “good week” of stories for the American economic system, city areas are nonetheless suffering from a variety of challenges, in line with economist Stephen Moore.
“Every one of the 50 states in the country had increased employment last month,” Moore instructed “The Cats Roundtable” on WABC 770 AM-N.Y. “That’s a very good sign. We also had good, healthy consumer spending numbers.”
Moore instructed host John Catsimatidis the information is “another really good indicator” that “this V-shaped restoration continues to enhance.
“This was a good week for the economy,” he concluded. “No query about it.”
Things are trying far much less constructive for cities, nonetheless. Not solely have they been ravaged by the coronavirus pandemic, however they’ve been hit laborious economically and impacted by violent riots and vandalism.
“These big cities in America, including New York and Chicago in Los Angeles and Seattle and San Francisco, have been hit with a double whammy,” Moore stated. “They’ve been hit with a lot of cases of coronavirus, which has scared people from moving back into the cities. But then, of course, you’ve had the problem with rioting and protests and arson . . . that have made Americans feel that cities are not safe.”
And, to pour gas on a raging hearth of all of it, Democrats operating a metropolis like New York City are slashing police budgets and imposing restrictions on policing.
“You saw what happened there in New York City where they cut $1 billion from the police budget,” Moore stated “That’s not a very good factor to do if you wish to hold individuals protected and safe. I feel it’s going to be robust for cities going ahead.”