You remember Ferguson, right? As documented in Bell Curve City, the city was once a thriving suburb of St. Louis until heavy dosages of federally mandated Section 8 housing overwhelmed the civilization whites created there, drowning it in the black undertow.
From 73 percent white in 1990 to under 25 percent white in 2015...
The 70 percent black city of Ferguson saw a foreclosure rate increase of 72 percent in the first half of 2015, compared to the same time period in 2014: the whole "Black Lives Matter" movement being birthed when a black person tried to take the life of a white cop on Canfield Drive in Ferguson being the primary catalyst for this property devaluation (though property values were already on the decline, courtesy of the rising black population and an aging white population stuck in their increasingly underwater homes).
Back in 1970, the city was almost 100 percent white: the future seemed so bright and optimism flourished for those who called Ferguson home. Now? [Ferguson Lowered to Junk by Moody's With City Facing Insolvency, Bloomberg.com, 9-17-15]:
Ferguson, Missouri, the St. Louis suburb that became a center of protests against racial injustice by police, had its credit rating cut to junk by Moody’s Investors Service because of “severe and rapid” deterioration of its finances.
Ferguson was criticized by the Justice Department this year for violating residents’ civil rights with heavy-handed police tactics in order to raise money with fines. As it negotiated a settlement with the federal government, the city’s key revenues have fallen, Moody’s said in a statement Thursday.
Ferguson could become insolvent by the 2017 fiscal year, the credit-rating company said. The rating cut reflects “severe and rapid deterioration of the city’s financial position, possible depletion of fund balances in the near term, and limited options for restoring fiscal stability,” Moody’s said.The city's key revenue producing population - white people - left long ago as the pressure of a rising black population quickly deteriorated the social capital in Ferguson, remaking the community in the image of its new racial majority.
The laws of supply and demand, supply-side economics, and the entire capitalist system in America bow to the awesomeness and immutable law of the Visible Black Hand of Economics, powerfully on display in Ferguson.