A 100 billion dollar wealth migration tilts US economy’s center of gravity south, according to Bloomberg’s article yesterday. What implications do you think this will have for the rest of the country and it’s near future?

7 comments

1. None.

2. It’s making the southern states more politically liberal as liberal money moves south.

   It has also strengthened conservatism in the south as conservative voters move to conservative states, to avoid the increasing left-wing-ness of their home states.

   The blue states also become increasingly left as conservative voters flee. This further pushes conservatives out of those states.

3. Whatever implications it has are going to be very short lived because of climate change. People may talk the big talk about taxes and sunlight now but when you’re facing massive natural disasters with little government assistance back to back, they’re gonna migrate away

4. The article itself is very unclear as to what 100B refers to (wealth? income? over what period? inflation adjusted?). But *in short*, the south, particularly Texas and the atlantic southern states, are seeing robust population growth and even more robust economic/wage growth.

   But really, this has been a thing post-1965; the removal of counter-productive laws & a lot of old corruption, better economic integration with the north and the rest of the world, and a warm/retiree-enticing climate are bound to cause the south to “catch up” with the north over time, similar to rapid improvements in central europe post-EU membership.

   There would be few short-term changes, but the future is exciting if you’re down here

5. Maybe it will help home prices and rent prices a bit in the wealthier parts of the Northeast?

   But living around a bunch of wealthy folks can make it hard mode for regular folks. Rents and homes are so high. Up here in New England my maid makes over 40 bucks an hour. Cops make 100-200 grand. Teachers get paid very well.

   I don’t see earnings rising fast enough down there to compensate for the HUGE jump in rent/home prices and costs.

   I’m amazed when I go to the South that grocery stores are more expensive than mine at home in Massachusetts. I don’t know how people with lower wages are going to fare.

   Massachusetts has free health care for the poor, most generous social services, despite pretty average taxes. There’s going to be a lot of needy people. Add abortion bans? How many unwanted kids are there going to be? That is going to be a HUGE drain on the economy. I’m pretty anxious for the places like Texas and other Southern states.

6. Honestly, I don’t think it will affect most people, much. It’s not like they’re 1) handing out their wealth and 2) it’d be the sort of thing where you have to come pick it up in person, if they did.

7. Such a small amount probably won’t have much affect at all.