Authored by Michael Snyder via The Economic Collapse blog,
Via StockBoardAsset.com,
Last week, I wrote an article titled The Ferguson Effect: Baltimore Millennials’ Worst Nightmare. The Ferguson Effect is a theory where the increased scrutiny of police post 2014 death of Michael Brown in Ferguson, Missouri and Trayvon Martin in Florida will lead to higher crime rates.
There have been 108 homicides so far this year in the city of Baltimore. According to the Baltimore Sun, there were five murders in the city just last weekend alone.
Unlike Chicago Mayor Rahm Emmanual, Baltimore’s mayor is basically begging for help from the FBI as her city's murder rate spirals out of control ahead of what is typically the most violent months of the year. Per CBS Baltimore:
“I’m calling on all the assistance we can possibly get because I can’t imagine going into our summer months with our crime rate where it is today, what that’s going to look like by the end of the summer,” says Mayor Catherine Pugh.
“Murder is out of control,” says Pugh.
Via StockBoardAsset.com,
In the Federal Reserve’s zero lower bound, the millennial generation in Baltimore has been flocking to the city on an illusionary premise of Baltimore’s revival. One of the largest narrative’s in Baltimore was Under Armour’s deployment of gentrification via Kevin Plank’s Sagamore Developments. The narrative has held strong for the past decade inducing millennials to move to the city and buy real estate. In recent times, the narrative has started to crack with with the recent -65% crash in Under Armour’s equity.