Message to new New York: “you can’t remain America’s financial capitol if you despise capitalism”

Photo above - will we make it to 2029 this time, or will the next stock market crash happen sooner? What will cause it - Trump Tariffs, Socialism in NYC, or state sponsored hackers attacking the stock exchange?

After the Mamdani landslide, smart people probably saw this coming: The NYC financial district has begun migrating. Their destination of choice? Dallas, apparently. See link below.

Dallas imagines itself as the financial capital of the south. So does Atlanta, which is home to the national HQ of Bank of America and Wells Fargo. It appears Dallas is winning the battle to lure Wall Street firms to “Y’all Street”, however. Probably something to do with more affordable real estate and lower taxes. Factoid of note - B of A, Wells, and JPMorgan Chase already have ginormous regional HQs in Dallas.

Normally, corporate America betting for and against cities; future wouldn’t alarm me. Except I have a bunch of friends who live “near” New York City and work in cubes there. If those headquarters relocate to Dallas, their homes will plummet in value. Well, my friends should have seen THAT coming too, since they're always so smug and confident about their smarts and salaries . . .

What happens in the unlikely event that Dallas DOES become the new Wall Street? Does the DSE (Dallas Stock Exchange) causes the NYSE to go dark? With todays automated trading, brokerages probably don’t need as many guys milling around in blue cotton jackets screaming "sell! sell!" at the top of their lungs. In fact, a move to Dallas could mean a large-scale makeover, and the advent of 24/7 AI driven trading. For smart-aleck day traders with souped up laptops, they could now lose a fortune at 2am, as well as 2pm. If I was a rogue player and wanted to “disrupt” the markets, I’d try to pull it off when most of the nation is asleep. Or watching NFL and NCAA football. Have you been paying attention to when those astonishing Bitcoin drops happen?

Everything's bigger in Texas. Except taxes, salaries, housing and electric bills. Congrats on your election win, Democrat Socialists of America and future free municipal bus riders. But If the big banks and brokerages leave, who you gonna tax?

I’m just sayin’ . . .

Escape from New York: Bankers flee Mamdani for Texas

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LeopoldBloom · M

A bunch of rich liberal Yankees moving to Texas? When Texas turns blue, we'll never have a Republican president again.

trollslayer · 46-50, M

@LeopoldBloom Jerry Manders disagerees…

PicturesOfABetterTomorrow · 41-45, M

@trollslayer Very true. Houston is actually pretty liberal because of the university culture and students from all over the globe but as you pointed out the districts are pretty much rigged.

LeopoldBloom · M

@trollslayer We need a national law outlawing gerrymanders.

LeopoldBloom · M

@PicturesOfABetterTomorrow Most if not all big cities are liberal.

PicturesOfABetterTomorrow · 41-45, M

@LeopoldBloom I haven't lived there but a good friend of mine lived in Houston for 4 years for their Master's Degree at Rice. So it is the only city I am familiar with.

LeopoldBloom · M

@PicturesOfABetterTomorrow Looking at a map of voting patterns, Democrats are clustered in cities and rural areas are Republican. States are red or blue depending on which party dominates. But this is why any proposal to divide the US between liberal and conservative areas makes no sense.

jackjjackson · M

A few people with a LOT of money are moving south. Not enough voters. @LeopoldBloom

SusanInFlorida · 31-35, F

@jackjjackson the current fear (at least in Texas) is that the influx of new jobseekers from out of state will bring "blue state" expectations along with them. lax enforcement on "victimless crimes", quasi legalization of narcotics, catch and release arrest procedures, higher taxes, EV mandates . . .

on the other hand, conservatives in the land locked parts of California want their own state.

Texican standoff?

jackjjackson · M

You’re not seeing the middle class move to TX and the seniors that move to FL vote red. Those poor CA people are moving to Utah and Idaho. @SusanInFlorida

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SusanInFlorida · 31-35, F

@PicturesOfABetterTomorrow tourism is dead all over the place, not just florida. its dead in vegas, california, NYC etc.

seniors would LIKE to flee Florida, but their condos are somewhat unsaleable. years of deferred maintenance have left seaside concrete towers in jeopardy. property insurance and HOA fees are soaring. Who wants to buy a used condo where the annual HOA fees might increase from $5,000 to $25,000?

the inland part of florida is doing fine right now. i'm in proximity to tampa/orlando.

but things will get worse as tariffs continue. jobs will be lost, homes will be sold at prices lower than their original purchase price.

PicturesOfABetterTomorrow · 41-45, M

@SusanInFlorida Towns like Tampa half the population are Canadian snowbirds who are never coming back.

They were also literally the only thing keeping the NHL team viable.

The damage is already done in alot of ways.