QUESTION: Marty, are you still in Asia because you wanted to miss this early snowstorm?
Pete
ANSWER: No, the crisis is Asia has capital in a state of concerned. Because of the problems in Hong Kong, there remain major concerns not just about the peg, but the future of Hong Kong. As I have said, we have 3 offices in Asia and clients on every side of this issue with questions.
I moved to Florida because (1) it was going to get much colder, (2) my lawyer told me to tell my family if I died in New Jersey, make sure my family dragged my body across the state border before they told anyone, and (3) my accountant made we swear in blood to get out of the state before it was too late.
As far as the cold is concerned, AccuWeather said this is definitely a “massive size and intensity of this snowstorm is unheard of for October…” I do not do well in cold and having to shovel my way out of a house. Civilization always expands with warm weather and contracts with cold.
As far as population migration is concerned, the #1 state people are fleeing from in New York. Also, Connecticut and Illinois are not far behind. According to recently released data from the US Census, about 38,000 more people left California than entered it in 2018. This is the second straight year that migration to the state was negative, and it’s a trend that is speeding up. Every year since 2014, net migration has fallen.
The interesting thing is as revenues decline in these states, they raise taxes and enforcement to make up the short-fall which in turn then send more people out. If a retail store sees a recession and sales decline, they run a sale to entice people to buy. The government is incapable of proper management. This is like a recession comes so the store doubles its prices to make up for the decline in profits. Dah?
