U.S. Recession Breeds Escalating Violent Crime
President, Tavakoli Structured Finance
The Wall Street Journal reported that violent crime is down in the big cities in the U.S., saying this breaks the pattern between economic downturns and an increase in crime. Supposedly this is because policing has advanced, not because human nature has changed. I do not believe the article is plausible.
If Chicago is any indication, it is much more likely the statistics are being doctored and that the public is being lied to in a profound way. Many cities and states are strapped for cash and the public doesn’t want to hear that crime is up while police budgets are being cut.
Chicago wasn’t mentioned in the article, but violent crime is way up, and the police force has been cut. I believe this increased violence is related to the economy, and it is not mere crime, it is civil unrest. The city of Chicago is being wrecked, and tourist attractions like Navy Pier are unsafe and lack police support.