In other words, credit and consumption based growth in the financial sector is facing a difficult future, necessitating the search for more capital intensive longer-term returns, and minimizing capital from credit cards, mortgages, education loans, and all fields of insurance.
Source date (UTC): 2020-12-29 20:39:53 UTC
Original post: https://twitter.com/i/web/status/1344020337088978944
Reply addressees: @Mr_JJT @mattyglesias
Replying to: https://twitter.com/i/web/status/1344019828252823557
IN REPLY TO:
Unknown author
@Mr_JJT @mattyglesias That’s unlikely. It merely states that the tax revenues of NYC are disproportionately dependent on the financial sector which is disproportionately dependent on DC, and that in the next severe correction, we will likely see financial reformation and a substantive impact on NYC.
Original post: https://x.com/i/web/status/1344019828252823557
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