Chicago is the new poster child for things going wrong in the cities of America. President Obama hails from Chicago, and expresses fondness and pride for his Chicago root, though it is doubtful that he will return there after he leaves office.
In fact, Chicago is now a disaster of crime, racial tensions and poverty, so much so that those who have the chance are leaving the city in droves. In fact, last year about 3,000 individuals with net assets over $1 million, excluding their principle residence left the city seeking new places to live.
Rahm Emanuel, Obama’s smug former chief of staff, left the administration in 2011 to become mayor of Chicago, and he has seen his favorability ratings slide from about 60% to current levels of about 18%. The city is known as a liberal Democrat bastion, and is also famous for mafia style union corruption. It seems that those who can leave are leaving.
Millionaires are leaving Chicago more than any other city in the United States on a net basis, according to a new report, “… with many citing rising racial tensions and worries about crime as factors in the decision, according to research firm New World Wealth. That represented about 2 percent of the city’s high net worth individuals.
Chicago was among four cities worldwide with the biggest flight of millionaires.
Paris saw the largest exodus.
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, whose data is used by luxury-goods companies, private banks and real estate professionals, among others.
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 addition to the problems of violence, racial clashes, and corruption, a significant population of Muslim immigrants has raised concerns and is causing those with the means to consider leaving the city. It is one more indication of the many failures of the Obama administration, and one more example of how Democrat socialism, Chicago style, is bound to fail.
Source: chicagotribune.com
The rich have ravaged all of Chicago into poverty now they leave it in desolation
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