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JD08 said:
nypost.com

New York loses $1 trillion in Wall Street business as firms flee the city: report

Of 158 NY-based companies managing $993 billion in assets, 56 have decamped to Florida, including hedge fund tycoon Paul Singer’s Elliott Management and closely-watched stock picker Cathie Wo…
nypost.com nypost.com
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That report probably belongs in the Tax thread, but those are staggering numbers for NY and Cali. I have said it multiple times, the high tax cities and states are becoming essentially uninvestable. Their budget deficits are getting bigger, and their response is to raise taxes, which causes even more migration, which causes bigger deficits, which.....
 
SpikeUM said:
That report probably belongs in the Tax thread, but those are staggering numbers for NY and Cali. I have said it multiple times, the high tax cities and states are becoming essentially uninvestable. Their budget deficits are getting bigger, and their response is to raise taxes, which causes even more migration, which causes bigger deficits, which.....
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I also put it in the Inflation thread. I couldn't remember where we had that discussion about how no major players were leaving Wall Street for FL.
 
JD08 said:
I also put it in the Inflation thread. I couldn't remember where we had that discussion about how no major players were leaving Wall Street for FL.
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My recollection is that its in the tax thread, when a porster got very upset with me posting about NYC being uninvestable. No biggie though.
 
SpikeUM said:
That report probably belongs in the Tax thread, but those are staggering numbers for NY and Cali. I have said it multiple times, the high tax cities and states are becoming essentially uninvestable. Their budget deficits are getting bigger, and their response is to raise taxes, which causes even more migration, which causes bigger deficits, which.....
Click to expand...
A classic death spiral.
 
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SpikeUM said:
That report probably belongs in the Tax thread, but those are staggering numbers for NY and Cali. I have said it multiple times, the high tax cities and states are becoming essentially uninvestable. Their budget deficits are getting bigger, and their response is to raise taxes, which causes even more migration, which causes bigger deficits, which.....
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The widespread adoption of tele-work technology has speeded up the migration of businesses leaving. I can pretty much conduct business from anywhere in the world and you wouldn't even know I'm on a yacht off St. Barts.
 
GladeCane said:
The widespread adoption of tele-work technology has speeded up the migration of businesses leaving. I can pretty much conduct business from anywhere in the world and you wouldn't even know I'm on a yacht off St. Barts.
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B itch…
 
09:45USDS&P Global Composite PMI(Aug) PREL 50.4-2.535252
09:45USDS&P Global Manufacturing PMI(Aug) PREL 47-1.3949.349
09:45USDS&P Global Services PMI(Aug) PREL 51-1.7852.252.3
10:00USDNew Home Sales (MoM)(Jul) 0.714M0.220.705M0.684M
10:00USDNew Home Sales Change (MoM)(Jul) 4.4% ---2.8%
10:00EURConsumer Confidence(Aug) PREL -16-3.86-14.3-15.1
10:30USDEIA Crude Oil Stocks Change(Aug 18)
-6.135M-0.42-2.85M-5.96M
Global manufacturing and services down.
bad news is gud news?
The mkts are jacked on NVDA..
APPL back over 180
S&P over 4400.
Crude Oil drops below 80.
 
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08:30USDChicago Fed National Activity Index (Jul)0.12---0.33
08:30USDContinuing Jobless Claims(Aug 11)1.702M-1.708M1.711M
08:30USDDurable Goods Orders(Jul)-5.2% --4%4.4%
08:30USDDurable Goods Orders ex Defense(Jul)-5.4% --5.9%
08:30USDDurable Goods Orders ex Transportation(Jul)0.5% -0.2%0.2%
08:30USDInitial Jobless Claims(Aug 18)230K-240K240K
08:30USDInitial Jobless Claims 4-week average(Aug 18)236.75K--234.5K
08:30USDNondefense Capital Goods Orders ex Aircraft(Jul)0.1% 00.1%-0.4%
10:00USDJackson Hole SymposiumALL DAY
Durable goods orders are down…are you watching Powell
initial jobless claims [august] down.
bad news/good news?
Jackson Hole tomorrow..
 
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mr.h said:
08:30USDChicago Fed National Activity Index (Jul)0.12---0.33
08:30USDContinuing Jobless Claims(Aug 11)1.702M-1.708M1.711M
08:30USDDurable Goods Orders(Jul)-5.2% --4%4.4%
08:30USDDurable Goods Orders ex Defense(Jul)-5.4% --5.9%
08:30USDDurable Goods Orders ex Transportation(Jul)0.5% -0.2%0.2%
08:30USDInitial Jobless Claims(Aug 18)230K-240K240K
08:30USDInitial Jobless Claims 4-week average(Aug 18)236.75K--234.5K
08:30USDNondefense Capital Goods Orders ex Aircraft(Jul)0.1% 00.1%-0.4%
10:00USDJackson Hole SymposiumALL DAY
Durable goods orders are down…are you watching Powell
initial jobless claims [august] down.
bad news/good news?
Click to expand...

The Fed's "Dual Mandate" is essentially political BS. What they *really* cares about is wage inflation, and with the initial jobless claims going down, and the new very expensive contracts signed by the airlines and UPS means that wage inflation is not tamed.
 
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