New York City and its suburbs are under siege due to a weekend of bombings.
This situation should not surprise anyone who lives or works in this city. Under NYC Mayor Bill de Blasio, the quality of life has fallen to levels not seen since 1975.
The streets of Midtown are littered with panhandlers and emotionally disturbed people. The aggressiveness of the poor goes unchecked, due to the mayor’s civil liberties directives.
During rush hour last week a man with a meat cleaver was shot and killed by police near a large commuter hub and shopping district.
Now into this void of leadership, which has handcuffed the police from proactively handling these problems, comes a bomber group to wreak havoc.
Authorities just announced they are seeking a man named Ahmad Khan Rahami with the multiple bombings in NYC and N.J.
These new acts of terrorism — which it is, the people behind it may or may not be Muslim, but they do not hold the exclusive contract on the word — as the city moves past the 16th anniversary of the 9-11 attacks.
So as the most important revenue-generating season kicks off — NYC tourists arrive in droves, which continues through the holiday season, the city finds itself with a new police commissioner, since Bill Bratton retired rather than see all of the effective policing policies instituted since the 9-11 attacks rolled back by the mayor.
So I leave now to go to the city, which I’m sure has a huge police/military presence with lock down sites popping up during the day for any suspicious packages.
However if you don’t see the bombings as a direct result of continuation in a reduction of policing policies under the current mayor.
Look for markets to move higher today as the ECB is out saying it will stand pat on interest rates. The move higher should continue into the week as the Federal Reserve is scheduled to announce its decision on rates on Wednesday as well.
The Fed will hold pat on rates as the latest inflation numbers show the economy is slowing towards stall speed. More on this tomorrow.