Does Weak Box Office Reflect Weak Economy? Ep. 252

Published: June 1, 2017, 3:09 a.m.

b'Summary: Box office revenues for this holiday weekend were the weakest since 1999.\\xa0 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.
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\\n \\t* Hopefully everybody had a happy Memorial Day weekend; I spent my holiday weekend up in Vancouver at the International Metal Writers Conference
\\n \\t* And when I came home, I came back to my home in Connecticut
\\n \\t* This was the first year I spent the winter in Puerto Rico, from January 1 until just a few days ago
\\n \\t* 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
\\n \\t* I like snow, it\'s pretty, but the next time I see snow it\'s because I\'m skiing on it
\\n \\t* I\'m a snowbird now
\\n \\t* But this time I\'m not only flying out of bad weather, I\'m flying out of high taxes
\\n \\t* It\'s not just the high taxes in Connecticut; it\'s the high taxes in the U.S.
\\n \\t* By the way, Connecticut is basically broke, if you read a lot of the articles now
\\n \\t* The tax revenue is collapsing
\\n \\t* I\'m moving from a bankrupt state to a\\xa0 bankrupt territory
\\n \\t* Puerto Rico has already declared bankruptcy; Connecticut hasn\'t actually done that
\\n \\t* Connecticut is admitting that they can\'t raise taxes on the rich anymore, because the rich are leaving
\\n \\t* I moved down to Puerto Rico with my wife and two young children, and I love it
\\n \\t* I live in a nice community, Dorado Beach; great neighborhood, many in the same situation as me
\\n \\t* I read this article about box office - holiday weekends are usually a good time for Hollywood
\\n \\t* Memorial weekend is a big weekend to kick off the summer movie season
\\n \\t* The article I read stated that box office revenues for this holiday weekend were the weakest since 1999
\\n \\t* Why is that?
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