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Mayor Ted Wheeler Responds to Author of Forbes Magazine Piece Trashing Portland: “He’s Wrong” The mayor says downtown will return when COVID leaves, adding that New York, Los Angeles, Chicago and San Fran are in same boat. Passersby watch the installation of Flanders Street Crossing. (Mick Hangland-Skill) Updated February 2 Mayor Ted Wheeler today took issue with a recent essay published in Forbes magazine by Bill Conerly, an economist who lives in Lake Oswego.
Nolte: Democrat-run Portland Collapses to Bottom of Desirable Cities
2 Feb 2021
Thanks to unbridled leftism, the city of Portland has gone from being one of the most desirable cities to one of the least.
The beauty of leftism is that, in practice, it always fails. High taxes, green regulations, public unions, coddling criminals, appeasing domestic terrorists, powerful teachers unions… From Nazi Germany to the Soviet Union to California to New York and now to Portland, socialism/leftism, whatever you want to call it, always fails.
In 2017, according to an Urban Land Institute report that surveys some 1,300 “lenders, investors, developers and other national real estate experts” about where the most desirable real estate markets are, out of 80 U.S. cities on the list, and in just a few years, Portland went from the third most desirable to 66th.
Portland Is the New Pompeii, According to Forbes wweek.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wweek.com Daily Mail and Mail on Sunday newspapers.
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The COVID-19 pandemic has disrupted businesses, caused
market volatility and triggered asset devaluations across the
globe.
Bill Conerly, a Forbes economist, states that the pandemic hurts
economies in four ways:
Supply chains failures;
Direct effects of illness in terms of
lost work by those who are sick or tending to the sick (currently
insignificant impact in South Africa);
Indirect effect of quarantines,
travel restrictions, restaurant and company closures, and so forth;
and
Demand shocks as people s incomes
are limited by job loss and, in the case of small business owners,