Doom Loop
We didn't coin the term "doom loop" or it's cousin, "death spiral," but we were using it years and years ago. Maybe we helped popularized them a bit? Regardless, here's someone noticing what we noticed long ago:
The downtown core of St. Louis, Missouri, which has not had a Republican mayor since 1949, finds itself trapped in a downward doom loop, plagued by vacant buildings, criminal activity, and shuttered businesses, as reported by The Wall Street Journal. The Journal paints a grim picture of a city center in distress, with boarded-up properties and occasional raids by emergency services searching for squatters and missing persons.
Fire Chief Dennis Jenkerson described the area as “a very dangerous place,” recounting a tragic incident during a 2023 raid where a search dog fell through an open window and later succumbed to its injuries. The city also faced a fire last year at a building, suspected to have been caused by copper thieves.
The iconic 44-story building, formerly owned by AT&T, now sits empty, recently selling for a mere $3.5 million—a staggering drop from its 2006 sale price of $205 million. “Cities such as San Francisco and Chicago are trying to save their downtown office districts from spiraling into a doom loop. St. Louis is already trapped in one,” the WSJ reported.
The article goes on to describe a litany of population loss, increasing crime, diminishing business and declining tourist numbers....all things an observant reader will recognize as parallel to what's happening in the Windy City.
To that list, we'd also add increasing taxes, lost convention businesses, reduced city services, to say nothing about the teachers demanding a 51% raise for failing at their jobs.
And we almost forgot the high dollar businesses leaving town:
- Citadel, Boeing and Guggenheim all leaving Chicago and Illinois
- United moving out to the burbs
- Water Tower emptying, Blommers closing, McDonald's warning Conehead about crime
Even the CME is still talking about moving. We told people not long ago that they had trading floors built out-of-state and ran
successful weekend tests with all the electronics. All it would take now is an ill-advised "transaction tax" and the CME flips a switch....no more tax revenue. (corrected)
Doom loop, death spiral, it all spells trouble.
Labels: money questions
posted by SCC at 12:03 AM
52 Comments:
But, but, they put in enhanced landscaping and bike lanes in downtown Saint Louis!!
Just vote democrat....problem solved.
Just sold my house and temporarily renting in the burbs. I'm willing to chance it for 8 months till i go.
I was in the downtown area on Wednesday for work. I could not believe what I was seeing & what I wasn’t hearing. The loop was a ghost town on Wednesday at 1:30PM!???!?!!?!? Dietroit here we come.
In case you missed it, downstate manufacturing is also leaving.
Or the more common one...
Shithole.
This has to be by design. How else could it happen in one Democrat city after another at the same time?
Good thing the pensions are funded properly!
I know this sounds non-woke but how many of these major cities are run by progressives.
There is a YouTube Channel, "metal leo" he documents all of the closed business in San Francisco, and Los Angeles. Another "A German in Venice" (Beach) Documents the closed business, the homelessness, and the squalor of Los Angeles metro area. Shoplifting has closed all of the Walgreens stores in SF. The Safeway store finally had enough. In SF it isn't "teenagers" doing it but the homeless.It is so bad in SF that people leave their car windows rolled down so the bums won't break the glass. Than there is the San Francisco Sidewalk loaf. That is a real walking hazard. They actually have an app and phone number to call for a clean up, SF311, or call 311.
Looks like your painting a “dark” picture.
As a former Detroit resident I assure SSC readers that it is indeed happening.
One of my most glaring memories was the lack of major grocery store chains in the Detroit city limits. Imagine the entire city of Chicago without a Marianos or Jewel or Dominic's.
I heard Conehead is going to give the CTU what they are asking for in their new contract. But, only if every CPS student and teacher is given a Conehead hairdo. It looks so good on him, why not spread the wealth.
As the doom and gloom increases daily, our interest should be directed to the "Magnificent Mile Tulips". Media reported on tulips over crime stories. Pausing to admire their beauty,however, places you at risk for an attack by 2 cars of armed robbers who may beat you and steal your property. If they just had jobs and didn't live in food deserts, the youths with the less than mature brains, wouldn't make such foolish decisions.
I was downtown recently in the mid afternoon and not many pedestrians could be seen walking about. Did see lots of congregants huddled on the street corners blowing their weed smoke into the hazy atmosphere. It appears that the city is done. Not even Edison Park or Mt.Greenwood will be a refuge soon. Oh well….
Sarasota County Florida is looking for School Safety Deputies at a good wage if you are trying to supplement your pension. Health care also available. Sarasotasheriff.org.
Converting LaSalle Street office buildings into multi-family affordable-rental housing requires substantial real estate tax forgiveness and permanently removes those buildings from commercial real estate tax-base. Stupid idea with long-term serious consequences, to create low-income housing that will quickly deteriorate.
No administrator at City Hall remembers significant problems of unmanageable multi-story high-rise public housing, the unresolvable building management and social-welfare complications, of failed and now-demolished Robert Taylor, Stateway Gardens, and Cabrini Green CHA towers.
Neither Lightfoot nor Johnson grew-up in Chicago, or lived in Chicago when these failed projects were demolished. And no one bothers to ask if Chicago ever before attempted to develop such concentrated-density low-income family housing, and if so, whether it was actually successful housing-model. Absence of their intellectual curiosity is notable.
Chicago is a dying city.
Example: 10 or 12 years ago the alderman of my southside neighborhood (a female who inherited the spot from her deceased husband) had money to spend, "use it or lose it." We were told we were getting new sidewalks. My sidewalks were installed in 1952 when the house was new, and were in fine condition. I asked to opt-out and was denied. All the side walks were ripped out, (ala Meigs Field). New sidewalks and rubberized handicapped curb cuts were installed.
Present day: The replaced sidewalks are chipped and scaling, the curb cuts are deteriorating and unsafe, and the Alderperson was indicted for corruption!
"Doom loop, death spiral, it all spells trouble."
For the law abiding, productive citizens, this is true. For the Democrat politicians it's pure joy. Detroit, for example, has been in a death spiral for so long that they've hit ground and continue spiraling underground. The upstanding citizenry has long left, but the citizenry that remains will vote 98.7% Democrat for all eternity. And that is what matters to the leftists.
Democrats would rather rule in Hell than serve in Heaven.
This is a direct result of you brainwashed democrats voting in these corrupt socialist Marxist politicians into office ! You are your own worst enemy, and are responsible for the economic collapse of Chicago which is in a complete death spiral ! Current conditions with the incompetent blue gummed, camel tooth mental midget of a mayor, and the totally incompetent, corrupt democratic socialist party, along with the communist teachers union that will bankrupt Chicango within ten years if that long ! It will be just another faded memory of what once was, just like Detroit,St.Louis, and every other big city in a blue state !
I wouldn’t be surprised if Blommers moved because they feared the that the batshit crazy liberals were going to sue them out of existence on an “environmental justice” claim for cooking chocolate aroma as an air “pollutant”. I’m not kidding / not being sarcastic.
Every big city that is a Democrat controlled city is massively failing. Every State that is a Democrat controlled state is massively failing. Every person who has common sense and every company with an actual business person in charge with common sense is leaving these cities and states. Red States are getting far Redder and while that leave Blue States Bluer, the Bluer states in only temporary until they completely collapse or the nation collapses. Chicago and Illinois are doomed and Democrat policies are to blame.
McDonald's complaining is kind of rich. Half their customer base are criminals.
Citadels Ken Griffen in an interview with a local Miami show that his headquarters has relocated to when his concerns about safety were mocked by Lightfoot and Pritzker mentioned the $600million he donated in philanthropy.
Nobody has filled that gap. But he was a republican so they don't care.
Mission accomplished for the democrats. Tear everything down and rebuild into their socialist utopia.
St Louis had a population of nearly a million in the 1950s. Now, it is 300,000. All assholes. Don’t be an asshole. Get out early, your grandkids will thank you.
Off Topic but still hilarious:
https://www.aol.com/democratic-convention-organizers-leaning-locals-234500393.html
The DNC expects Mayor Conehead and Governor Fatty Arbuckle to have a plan in place to “manage” the expected surge of illegals being sent to Chicago ahead of the 2nd coronation of President Joe “the cannibals ate my brain” Biden. I for one will be very disappointed if Governor Abbot of Texas does not open the floodgates all the way.
Chicago residents in MAGA hats tear into Democrat mayor for allotting $70million to migrants: 'We need the money more than they do!'
https://www.dailymail.co.uk/news/article-13324975/chicago-residents-blast-mayor-brandon-johnson-migrant-tax-funding.html
"Dogs and cats living together...Mass Hysteria!"...
Gov pigster wants the same here. Then him and his ilk will buy back the loop n mag mile for pennies
Give a Democrat political power and they will destroy anything of value. Black, Brown and liberals and their lock step voting patterns in Chicago and Crook County contribute mightily to turning the once great city into shit. The more recent Clown Prince of Fools pretending to be a mayor is a classic example of Democratic incompetence, corruption and deception.
D.E.I == Democrat Election Interference.
That is all.
D.E.I. =/= diversity equity inclusion
At that big press conference about the joint effort to stop the car jacking @nd robberies plaguing the Northside all of the dept heads were there except the main ingredient, the Cook County States attorney’s. Office. The catch and release to rob and kill again I hope that the feds are willing to prosecute the offenders but I wouldn’t count on it with the “dork” US Attorney in place.
This is all part of the same population replacement plan as the the border. Progressives with money, fed up with shithole city life, will move to a "clean" area, bringing their politics with. They will form a new colony, and infect the new location. Just look at Colorado, or New Mexico.
The anniversary of Lexington & Concord informs us of the correct path going forward.
And it’s all being orchestrated on purpose.
None of what’s happening is by accident or incompetence.
They want all the money and property.
They want your retirement accounts and pension funds.
And they’ll get it all too!
“ Anonymous said...
This has to be by design. How else could it happen in one Democrat city after another at the same time?
4/19/2024 05:56:00 AM”
You’re correct! Kudos to you for being an objective observer!
St Louis Mo City Officials
Mayor Black
Chief Prosecutor Black
Comptroller Black
Treasurer Black
Sheriff Black
Tax Collector Black
Recorder of Deeds Black
Cori Bush claims city is racist. Sure thing Cori, that’s the problem.
Excellent opportunity for Chinese investors.
Cori Bush claims city is racist. Sure thing Cori, that’s the problem.
4/19/2024 04:02:00 PM
It is.
The distant descendents of imported slaves are getting their revenge. By fucking themselves.
And by enslaving, via utter dependence, their own 'brothers and sisters', of course.
"Blogger I Voted For Kamala said...
Sarasota County Florida is looking for School Safety Deputies at a good wage if you are trying to supplement your pension. Health care also available. Sarasotasheriff.org.
4/19/2024 08:42:00 AM"
WHY the fuck would any self respecting copper want to become a facilitator to keeping asshole student that committed a crime out of jail?
Fuck that! Lock the asshole up.
That's Obama's bullshit ideology of stopping the "school to prison" pipeline, of which Trayvon Martin was the most notorious case of trying to coddle a criminal student.
And Heels Up is a Ho!
A certain demographic in St Louis. This is America's protected class. We are doomed, and China, Russia and every other enemy country knows it. They're just biding their time (as they laugh at us).
https://www.youtube.com/watch?v=kJg3J6tJzGU
Over eighty percent of the housing in Singapore is subsidized by the government.
More or less public housing, if you will.
Densely urban, multi-floor buildings that are clean, safe, and well-maintained.
Still the human condition, but Chinese, Malays, Indians, Brits, etc living amongst each other in relative harmony.
Hmmm, why a different outcome in Chicago?
Booo hoodoo, yet 1000sq feet homes sell for 500k plus. City is doing just fine
Booo hoodoo, yet 1000sq feet homes sell for 500k plus. City is doing just fine
4/19/2024 10:31:00 PM
You think people buying overpriced homes is a sign of a healthy and sustainable city? That's adorable. Just ignore the out of control crime, the businesses and residents fleeing, the vast corruption, overtaxing, worthless public school system, and hundreds of other issues. Morons are buying expensive houses in the "nicer" neighborhoods, so the city is just fine? That's like having terminal cancer and saying you're fine because you still have your hair. The city is dying, and being hastened along by the ineffective and corrupt "leaders" that the idiotic residents keep electing.
This is old but still applies to Chicago or other progressive cities. Seattle is Dying
https://youtu.be/bpAi70WWBlw?si=IVOf6iwzTOZB0v24
Got some spare time? Go on line to the Detroit Land Bank, and look at the number of vacant houses being sold for $1000. Sadly, this may be Chicago’s future.
Look at afternoon rush in downtown chicago on a friday .. No one home ,,wait until out of town visitors this summer see this crap .. Chicago running neck with Detroit , St. Louis fried, Gary a looks like a bombed out WW2 city ,, Newark the pits.. Parts of Las Vegas.looks like a hell hole . see who goes down the fastest
Anonymous said...
I wouldn’t be surprised if Blommers moved because they feared the that the batshit crazy liberals were going to sue them out of existence on an “environmental justice” claim for cooking chocolate aroma as an air “pollutant”. I’m not kidding / not being sarcastic.
4/19/2024 10:30:00 AM
Part of reason Blommer's left is all the Chicago, crook county labor add ons & other bull shit from Marxist fake mayor johnson.. .. worse Blommers property tax bill went to $600,000 this year.. from $100,000 ..Add in cocoa prices hit new 50 year high, then All time highs .... Lets go Bradon,, joey bidenomics
Don't spend nickel shopping in Chicago
Anonymous Anonymous said...
McDonald's complaining is kind of rich. Half their customer base are criminals.
4/19/2024 10:56:00 AM
They went from a family oriented restaurant back in the 60’s with Ronald McDonald and their motto “McDonalds is my kind of place” ad campaign to catering to the ghetto rats with their “I’m lovin it” hip hop theme. Another corporation circling the terlet bowl. Enjoy your $15 value meals. Ghetto mentality ruins everything it touches.
Anonymous Anonymous said...
St Louis Mo City Officials
Mayor Black
Chief Prosecutor Black
Comptroller Black
Treasurer Black
Sheriff Black
Tax Collector Black
Recorder of Deeds Black
Now that’s what I call Diversity, Chicago Style… Now that’s totally alright, Chicago Style
Without any notice, the McDonalds on Wabash between Washington and Randolph recently closed. I asked around and was told that McDonalds was fed up with hordes of local high school students (those alternative high schools) jumping on tables and acting like animals. Now there's only two loop McDonalds. Can you imagine what downtown will be like if the LaSalle Street corridor becomes subsidized housing?
Booo hoodoo, yet 1000sq feet homes sell for 500k plus. City is doing just fine
4/19/2024 10:31:00 PM
You think people buying overpriced homes is a sign of a healthy and sustainable city? That's adorable. Just ignore the out of control crime, the businesses and residents fleeing, the vast corruption, overtaxing, worthless public school system, and hundreds of other issues. Morons are buying expensive houses in the "nicer" neighborhoods, so the city is just fine? That's like having terminal cancer and saying you're fine because you still have your hair. The city is dying, and being hastened along by the ineffective and corrupt "leaders" that the idiotic residents keep electing.
4/20/2024 10:05:00 AM
People are not buying these properties; lenders are acquiring delayed possession of these properties.
A series of buyers/sellers/buyers results in eventual forclosures and lender acqusitions, thence bargain liquidations of said acqusitions.
To whom?
Why, those entities having actual cash to acquire, at bottom feeder costs.
Thusly, populace is gradually displaced, and replaced, via financial schemes most patient.
The entity: Booo hoodoo, is one of these schemers.
Part of reason Blommer's left is all the Chicago, crook county labor add ons & other bull shit from Marxist fake mayor johnson.. .. worse Blommers property tax bill went to $600,000 this year.. from $100,000 ..Add in cocoa prices hit new 50 year high, then All time highs .... Lets go Bradon,, joey bidenomics
Don't spend nickel shopping in Chicago
4/20/2024 12:39:00 PM
Classic land grabbing, via the current market value of acreage being inflated to speculator levels.
Getting the reluctant to sell is built in to this keying assessed valuation to current market value, thus defining taxed amount.
A scheme worthy of the most virulent mobster juice loans
Crook county.
By hook or by crook.
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