In this morning The Gartman Letter, analyst Dennis Gartman segues off his usual topic of markets to focus on poverty levels and the political front:
The Gartman Letter: Finally, we came across the following list over the weekend as we were going through e-mails and cleaning things up. We checked out the data, and it is correct, so the “correlation” seems reasonably to hold.
Now, what do all of these cities have in common beyond their egregious poverty level rates? They all have had since 1989 and continue to have, Democrat Party mayors… with Cleveland having had the Democrat mayor incumbent for the shortest period, since 1989, while Newark and Milwaukee now go back for nearly one hundred years of Democrat “rule.” Detroit, with the highest poverty rate has had a Democrat running the city government since 1961. We’re not casting aspersions here; we are simply drawing correlations.
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