Eric Adams Is Correct ~ Migrant Crisis Will Destroy NYC

Let me tell you something New Yorkers, never in my life have I had a problem that I did not see an ending to…’ said Mayor Adams in remarks about the influx of tens of thousands of migrants bused to New York having crossed the southern border earlier this year. He’s right, economically speaking. New York cannot solve this because it does not have money sovereignty unlike the United States federal government, notably the treasury and federal reserve. This bars a local government from printing money to engage businesses, large corporations, and the developers, which have a demand for dollars, to provide the needed housing and services. In other words, New York needs capitalisation to do this. That can only be provided by a state government from its budget, or the US government, which can never go bankrupt and supply all the money that is needed. <a href="https://medium.com/@RunSocialist/eric-adams-is-correct-migrant-crisis-will-destroy-nyc-e406421a0598">Visit Now</a>