Don’t bet on the Yankees leaving New York anytime soon. The House that Ruth Built is likely to stay in a New York zip code for a while. At the same time, do you know that there are now more Chase employees working in Texas than in NYC? Chase is not the Yankees, but it was synonymous with New York's financial identity forever. Yes, New York City is falling apart and the locals are apparently ready to accelerate the decline with their votes.

Let's look at this story:

New York is losing population, losing jobs and losing ground to the rest of the country -- and its leaders just don’t seem to care.

Start with last week’s news that banking giant JPMorgan Chase now employs more workers in Texas than in New York City; indeed the Lone Star State now has more bank employees than Gotham, period.

Partnership for New York City chief Kathy Wylde is badly understating things when she calls this news “scary.”

Plenty of other finance jobs have flown to Florida, North Carolina, and other states; the day grows ever closer when the Big Apple, once the unrivaled financial services capital of America and the world, will become a finance backwater.

The Big Apple is shrinking? Maybe they left it outside and it is rotting daily. No matter what, it's painful to watch the mighty New York sink one step at a time.

We don't get as many New Yorkers as they do in Florida or South Carolina. Nevertheless, their stories are similar and they all blame the voters for letting this collapse happen. As a New Yorker told me recently, we, meaning voters, either don't care or too busy to vote. According to a recent report:

The five boroughs rank 49th for turnout among big U.S. cities, according to a report published in December of last year from UC San Diego.

Let’s look at the last mayoral election: 2021. Of the more than 4.9 million active registered voters for the general election that year, only 1.147 million cast votes, according to the CFB data. That’s just 23% of eligible city dwellers who actually exercised their right to vote.

Maybe the people who have already left were the job creators or taxpayers, whereas the ones who stay behind have no skin on the table. Maybe that's the answer. In the meantime, there's little hope for New York City.

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Image: AT via Magic Studio