Summary: Box office revenues for this holiday weekend were the weakest since 1999. Why is that? Some say the movies were not very good, but I think it’s more likely that this is just another piece of evidence that supports the fact that the consumer is in much worse shape than is generally perceived.
- Hopefully everybody had a happy Memorial Day weekend; I spent my holiday weekend up in Vancouver at the International Metal Writers Conference
- And when I came home, I came back to my home in Connecticut
- This was the first year I spent the winter in Puerto Rico, from January 1 until just a few days ago
- I bought a condo in Puerto Rico a few years ago, I moved my Euro Pacific Asset Management Company there from California at about that time, but I’d never moved there myself until this year
- I like snow, it’s pretty, but the next time I see snow it’s because I’m skiing on it
- I’m a snowbird now
- But this time I’m not only flying out of bad weather, I’m flying out of high taxes
- It’s not just the high taxes in Connecticut; it’s the high taxes in the U.S.
- By the way, Connecticut is basically broke, if you read a lot of the articles now
- The tax revenue is collapsing
- I’m moving from a bankrupt state to a bankrupt territory
- Puerto Rico has already declared bankruptcy; Connecticut hasn’t actually done that
- Connecticut is admitting that they can’t raise taxes on the rich anymore, because the rich are leaving
- I moved down to Puerto Rico with my wife and two young children, and I love it
- I live in a nice community, Dorado Beach; great neighborhood, many in the same situation as me
- I read this article about box office – holiday weekends are usually a good time for Hollywood
- Memorial weekend is a big weekend to kick off the summer movie season
- The article I read stated that box office revenues for this holiday weekend were the weakest since 1999
- Why is that?
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