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Tale of Two Cities

By Charles Payne, CEO & Principal Analyst

‘Surge in NYC's Apartment Prices Breaks Records, Report Finds’

‘Number of homeless people in city up by 39% in just one year’

Americans are losing faith in the ability of capitalism to make their lives better. Sadly, this actually makes it harder for capitalism; Americans must buy into any economic system in order for it to work (some do it temporarily; others in perpetuity). In fact, many pockets of the United States aren’t operating under true capitalism.

Many cities and states are de-facto welfare states where the wealthy can afford to pay high taxes, the middle class barely gets by, and the poor simply remain poor.

This is the why populism is surging along with the elite parties in France -let’s face it, the winner is an elitist – we’re crushed for the very first time.

I’m not sure where this is going, but all the bailouts, printed cash, and other forms of crony capitalism are undoing two centuries of success in America. It’s time to right the ship before we begin to leap into economic systems that have already failed miserably over and over again.

Charles Payne
Wall Street Strategies


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