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Oct. 20, 2020 - Health Ranger - Mike Adams
12:13
Democrats in PANIC over impending FINANCIAL COLLAPSE of "blue" cities
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I'm not sure if most Americans understand the degree of financial insolvency that Democrat-run states are now experiencing.
And it's going to get a lot worse because, of course, the COVID-19 lockdowns were really strongly aggressively enforced in these Democrat states, and they crushed their local economies.
As a result of that, they crushed their revenue sources of income tax revenues, sales tax revenues, and property tax revenues.
You know, what's the value of a commercial property in a riot zone?
The value is zero.
How much revenue do you get from a local restaurant that's been burned down by Black Lives Matter?
Oh, zero.
So it's no wonder that mayors of Democrat-run cities and governors of Democrat states are in a total panic.
Over the numbers, they're in not only massive debt, but a massive shortfall of necessary operating revenues.
And a lot of that is going to hit sort of a tipping point this November and December, where they're going to have to really start slashing government workers and government programs.
And if you look at most of these government programs, you know what they are?
They're, for the most part, welfare, food assistance, and healthcare costs.
I mean, that's what most of the state-level handouts really are.
Free money, free food, free healthcare, or subsidized.
And so what happens when those things get severely slashed?
And what about the pensions?
Because the other major underfunded liability of states is pensions.
And so you've got all these retirees that are collecting, in many cases, very large bloated pensions, especially in places like California.
And there's no way that the states are going to be able to continue to fund those pensions at the levels they've promised.
So pensions are going to get slashed.
You know, healthcare is going to get slashed.
Food assistance programs slashed.
You know, housing assistance programs.
All these things.
And because Democrats, they like to have societies where people are incapable of taking care of themselves.
So when Democrats create societies, they crush economic mobility.
They don't like entrepreneurship.
They don't like people to be able to sustain themselves.
So everybody's dependent on the government in these Democrat areas.
Well, what happens then when the government runs out of money?
Then you have a major crisis slash collapse major, because then you have riots in the streets against the local Democrat government, people burning down government buildings saying, where's our food stamp money?
Where's our free health care?
Where's our subsidies for housing?
Where's our government-provided apartment living situations and so on?
And frankly, places like California are just going to have to start slashing like crazy, like they've never had to before.
And this is why Nancy Pelosi is, of course, demanding so much bailout money from the president because she wants to be able to bail out Democrat states, especially her state, California, which is facing probably by the end of the year about $100 billion shortfall in funding.
Where are they going to get the money?
Well, they want to get it from Trump.
Trump says no.
And that's the right answer.
Why should the rest of America pay for that?
So this explains why real estate values or valuations are crashing in places like San Francisco.
Now, yes, the property prices were wildly overvalued before now, but they are crashing At an accelerated pace that just hasn't been seen before.
And it's going to get much, much worse, by the way.
Much worse.
And it's going to happen in LA if it hasn't already started to happen.
It's going to happen in places like Santa Barbara, both North and South California.
San Diego, for example.
It may not affect the rural areas of California very much, but it will affect it somewhat.
Now, people are fleeing California like never before.
Right now, it's very difficult to find a moving company to move you out of California.
It's very difficult to find a U-Haul to leave California or to leave New York State or New York City, for that matter.
You can't find them.
Why?
Because everybody else has already booked one.
Because they're fleeing New York City.
I mean, who would want to be left in New York City in the middle of this coming Civil War, mass riots, economic collapse, grid-down collapse, financial reset, whatever?
You don't want to be stuck in New York City with 10-plus million unprepared, desperate people?
Really?
No.
Sorry.
There's a movie about that.
It's called I Am Legend with Will Smith.
Everybody got vaccinated and turned into zombies.
Didn't turn out very well for most people.
Not even for Will Smith, by the way.
So people are getting out of those areas like crazy.
What I find fascinating is that people are leaving the Democrat-controlled areas that are the most bankrupt, which is fascinating because who's leaving?
Who's leaving?
The people who have the most money are leaving.
They're the ones who can afford to move.
They're the ones who can afford to buy a house at their destination even before they've sold the house where they currently live.
They're the ones who can hire the moving companies or even just Pay somebody.
Pay friends to help them move or whatever.
Buy another vehicle.
Buy a giant RV and load it up.
These are people who've got money.
And they're the ones that are paying most of the taxes in places like California and New York.
And they're the ones who are leaving.
It's just like Governor Cuomo was whining about a few months ago.
He's like, yeah, we taxed the rich and the rich left.
Remember that?
We taxed the rich and the rich are leaving.
Yeah, no wonder, because you've made it absurd for them to even stick around.
Why would you, if you're a rich person, why would you stick around New York so Cuomo can just loot your bank account every day?
Basically charging you millions of dollars a year just to live in New York when you could live somewhere else, pocket a lot of that money for yourself, Maybe even avoid state income taxes in places like Florida or, you know, Texas that doesn't have a state income tax.
And you could live a much nicer lifestyle.
You could have a 500 acre ranch in Texas if you want.
You know, you could have nature instead of living in a concrete jungle.
And so people are leaving.
So then who is staying behind?
Who's staying in the cities run by Democrats?
Oh, the welfare class.
The people who can't afford to flee.
These are the people who live on government money.
And more importantly, these are people who pay no taxes.
So they don't provide revenue, do they?
To San Francisco or New York City or any of these liberal places.
Chicago, for example.
The welfare class doesn't provide revenue.
So the welfare class takes money from the local government but doesn't contribute money to the government in any way whatsoever.
But at the same time, these states are losing the people that make the money, that earn the money, that have the money to confiscate.
And so what does the state have to do in order to continue to fund the welfare class?
Oh, they have to raise taxes on those who are earning.
They raise property taxes in Illinois.
They raise income taxes in California.
They raise, you know, inventory taxes and everything else in New York City and so on.
They just come up with new taxes all the time.
They find new ways to pick your pockets.
And then what does that cause?
Well, people who are earning the money are like, I'm tired of being stolen from by the government.
I'm going to leave too.
So the wave of people leaving People who earn money, people who have incomes, or who run small businesses, even such as local restaurants, they just continue to leave in accelerating numbers.
And it's a death spiral for these states.
That's the point.
It's a death spiral.
Because at some point, the rich have left.
You can't raise taxes on the rich.
They're gone.
The middle class is increasingly gone.
You can't raise taxes on the middle class very much because as a Democrat you promise to only tax the rich.
But you can't deprive benefits to your welfare class without losing their support at the next election.
And your pension programs are underfunded, so all your pensioners are complaining that they're only getting 50 cents on the dollar.
This is how Democrat states are going to implode.
And they're in the process of imploding.
And they will collapse.
California, on its current course, will collapse.
New York will collapse.
Illinois will collapse.
You better believe it.
And many other liberal states across the country.
So this is what's coming.
And this is the most important reason, probably, to get out of these states.
You don't want to be there when it collapses.
You don't want to be there when the government decides they have to seize all private property just to pay pensions or something.
Maybe they'll try something crazy.
A crazy thing, raising property taxes to 50% every year of the total value of the property.
They're going to go crazy with taxation ideas, and there's going to be a mass revolt.
And it doesn't matter.
None of it's going to work.
They're going to go bankrupt anyway.
They will collapse.
And this is, in effect, defunding the police.
This is how police get defunded.
It's not even from the left-wing lunatics.
It's just from total bankruptcy and financial collapse.
There will be no police.
There will be no money to fund them.
There will be no funding for welfare.
No funding for pensions.
No funding for schools.
I mean, there are going to be collapse-level cuts.
You know, imagine slashing all these services 50-70%.
What do you have left?
You hardly have a...
Civilization left in those cities.
And everybody who's still there, who can flee, will flee.
And it'll just be a ghost town.
What's left behind?
A bunch of criminals.
And poor people.
Welfare recipients, drug dealers, child traffickers.
Basically, Detroit.
That's what you get.
So get out while you can, folks.
And do it sooner rather than later.
Thank you for listening.
Mike Adams here, The Health Ranger.
Check out my preparedness podcasts and videos at prepwithmike.com and also read my articles on naturalnews.com.
Thank you for listening.
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