Is your city rioting?

[james.hendrickson]

Today is the 3rd day of mass protests here in Oregon. So far everythings been mostly peaceful but we'll see how it goes.

All the protestors here in Oregon are pretty young - they're mostly under 30 and white.

[QuarterMillionMan]

Today is the 3rd day of mass protests here in Oregon. So far everythings been mostly peaceful but we'll see how it goes.

All the protestors here in Oregon are pretty young - they're mostly under 30 and white.

Let's hope it remains peaceful. Those riots & looting are scary.

[amastewa93]

Things have largely calmed down here in Atlanta but they expect it to pick back up this weekend. We have a curfew in effect through Sunday, potentially longer if protests continue through this weekend.

Last weekend, within a 2 mile radius of my home, there was between $10 and $15 million worth of damage (and that is just the early estimate). Monday morning it didn't feel very safe to even leave my home. Thankfully, it feels more safe now but I'm hoping the peace continues.

[bjl584]

All the protestors here in Oregon are pretty young - they're mostly under 30 and white.

Sounds similar to the mass protests right after Trump was elected.

I wonder how many of those people are genuinely there for a cause and how many are there just to be there?
I remember a reporter asking the younger people protesting when Trump was elected their thoughts on matters.
Time and time again they responded that they didn't even vote in the election.

[QuarterMillionMan]

Los Angeles curfews lifted due to relative calm but individual cities in Los Angeles still have curfews. The kicker is Los Angeles mayor Eric Garcetti is reducing LAPD's budget by $150 million and increasing social services by $250, which makes no sense to me. On another note Las Vegas opened today (not riot related) but watch this video and see how busy Las Vegas is on reopening with no social distancing.

https://www.youtube.com/watch?v=L3jwXNNmkNM

[disneysteve]

On another note Las Vegas opened today (not riot related) but watch this video and see how busy Las Vegas is on reopening with no social distancing.
https://www.youtube.com/watch?v=L3jwXNNmkNM

And I believe Clark County, where Las Vegas is, already had the highest COVID numbers in the state. Get ready for those numbers to climb now that the casinos are open with minimal precautions in place.

Cases are on the rise in a number of places as things reopen. Arkansas has the most hospitalized COVID patients right now since the pandemic began. Cases are rising in Texas and elsewhere. NJ will add outdoor dining and indoor retail on 6/15 and then salons and barbers on 6/22 so I'm sure we'll start seeing an uptick in new cases by the end of the month.

[james.hendrickson]

Sounds similar to the mass protests right after Trump was elected.

I wonder how many of those people are genuinely there for a cause and how many are there just to be there?
I remember a reporter asking the younger people protesting when Trump was elected their thoughts on matters.
Time and time again they responded that they didn't even vote in the election.

I think whats going on is the quarantines caused social and economic disruption, then the George Floyd murder set people off. I did a shallow dive on the literature on rioting and the results were classic. High unemployment in urban areas is a significant risk factor for rioting.

As an aside, this is going to be very, very expensive. Even a small riot can cost over $50 Million in property damage. Some estimates say this week of violence could cost up to 5 trillion dollars.

Source: The L.A. Riot and the Economics of Urban Unrest

[Petunia 100]

And I believe Clark County, where Las Vegas is, already had the highest COVID numbers in the state. Get ready for those numbers to climb now that the casinos are open with minimal precautions in place.

Cases are on the rise in a number of places as things reopen. Arkansas has the most hospitalized COVID patients right now since the pandemic began. Cases are rising in Texas and elsewhere. NJ will add outdoor dining and indoor retail on 6/15 and then salons and barbers on 6/22 so I'm sure we'll start seeing an uptick in new cases by the end of the month.

To be fair, most of the state is sparsely populated.

[QuarterMillionMan]

I think whats going on is the quarantines caused social and economic disruption, then the George Floyd murder set people off. I did a shallow dive on the literature on rioting and the results were classic. High unemployment in urban areas is a significant risk factor for rioting.

As an aside, this is going to be very, very expensive. Even a small riot can cost over $50 Million in property damage. Some estimates say this week of violence could cost up to 5 trillion dollars.

Source: The L.A. Riot and the Economics of Urban Unrest

Good points. This Sun article explains anti-facism which says it is our nation's DNA, which could also explain the looting and riots.

https://lasvegassun.com/news/2020/jun/04/anti-fascism-is-in-our-nations-dna/

[disneysteve]

To be fair, most of the state is sparsely populated.

Definitely. That’s why many states didn’t see super high numbers. They just don’t have that many people. But the more rural areas are now seeing their COVID cases rise. They just lagged behind the urban areas. And as travel picks back up, cases will continue to spread including to areas that had been relatively spared.

[QuarterMillionMan]

NYC this week, https://abc7ny.com/protesters-clash-...jured/6318496/

Portland this week, https://www.washingtonpost.com/natio...deral-arrests/

Chicago yesterday, https://www.fox32chicago.com/news/18...s2iA56jqpZkKRI

Los Angeles still has protests but fortunately nothing yet. Wish the violence would stop but I fear it'll only get worse.

[QuarterMillionMan]

Chicago & Portland still ongoing.

[james.hendrickson]

Yes, Portland has been seeing ongoing civil disturbances for the past 2 to 3 months.

Things are coming back, slowly but surely. The biggest economic issues are frankly not just the rioting, it's the long term impact of covid. People aren't coming to Portland's downtown at the same level they were before the disease. People are staying home instead of commuting.

Here is a shot of the corner across from my office. You can see several of the businesses and storefronts are still boarded up.



There was some media coverage several weeks ago that said the civil disturbances will cost at least $22 Million. That certainly a under-estimate at this point.

From a pure personal finance standpoint this reveals the wisdom of a couple of basic points of personal finance.

1. Have an emergency fund. Homo sapiens sometimes does crazy/irrational things, and having an emergency fund will help you sleep better at night, rioting or no.

2. Diversify. My landlord here in downtown (good company) holds a ton of downtown real estate in PDX. I suspect they're getting hit hard with the demographic shift to working at home, and the lack of people in the downtown area as a result.

It just goes to show - if you diversity, you'll mitigate your risk.

[QuarterMillionMan]

James that sucks. After the Los Angeles lootings, riots, burning of police cars and buildings, I bought a gun. Hope I don't have to use it but I will if needed.

[james.hendrickson]

James that sucks. After the Los Angeles lootings, riots, burning of police cars and buildings, I bought a gun. Hope I don't have to use it but I will if needed.

@QMM - well its a sign of the times. In fact, 5.56 millimeter ammunition and webcams are sold out around here. I hope we can get back to normal as soon as possible.