Residents of inner cities are coping with high rates of crime that have continued for two years and skyrocketing inflation that have dealt devastating blows to them.
A growing number of residents want to move away from the Golden City if the crime surge continues. John Dennis with insight on 'Fox & Friends First.'across the country two years ago amid the summer of 2020’s protests and riots and the coronavirus lockdowns that upended society. Crime has continued raging in many cities while residents cope with a heavy cost that has been compounded by record-high inflation.
Sowell's words have proven true in recent years. Commercial insurance rose in 2021 following the George Floyd protests and riots of the summer prior, which marked"the first civil disorder catastrophe event to exceed $1 billion in losses to the insurance industry," according to the World Economic Forum. Battered stores in cities have taken extra security measures and even cut operating hours to help curb rampant shoplifting.
Property crimes and thefts have also seen increases, including at businesses within cities. Most notably in California, cities such as Los Angeles and the Bay Area were ravaged by smash and grab crimes last year that have carried over into 2022. "The impact is almost immeasurable," the Heritage Foundation’s Amy Swearer told Fox News Digital when asked about the cost crime has on communities in cities.
Inflation is at a 40-year-high, and estimates show it cost the average American household about $635 in June alone. Studies have foundlow-income families, minority communities and Americans in rural parts of the nation the most.
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