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“Perfect Storm” Of Auto Thefts Sweeps US During COVID Lockdowns

Summary:
The link between high unemployment and crime has been realized in a new report that indicates police departments across the country have sounded the alarm on surging auto thefts.  To refresh everyone's memory, over 38.6 million people have filed for unemployment over a nine-week period, the number of job loss is unprecedented and considered depressionary. If you take a stroll down main street, it's littered with commerical "for lease" signs and food banks, as tens of millions of people have fallen into instant poverty.  Before we dish out the shocking crime statistics - the Denver Police Department (DPD) recently said it would be studying crime trends from the last recession to better forecast what could happen during the current economic crash.  "We're looking at the ebbs and flows

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The link between high unemployment and crime has been realized in a new report that indicates police departments across the country have sounded the alarm on surging auto thefts. 

To refresh everyone's memory, over 38.6 million people have filed for unemployment over a nine-week period, the number of job loss is unprecedented and considered depressionary.

If you take a stroll down main street, it's littered with commerical "for lease" signs and food banks, as tens of millions of people have fallen into instant poverty. 

Before we dish out the shocking crime statistics - the Denver Police Department (DPD) recently said it would be studying crime trends from the last recession to better forecast what could happen during the current economic crash. 

"We're looking at the ebbs and flows that took place to try and anticipate where those challenges would come," said DPD Chief Paul Pazen. "And more importantly, what are you doing about it?" 

Drilling down to specific types of crime, he said spikes in "aggravated assault," "auto theft," and "robberies" were seen in the last recession.

A new Associated Press report reveals police data from major cities show auto thefts are surging across the country. 

The number of pilfered vehicles soared by a whopping 63% in New York City from January 1 through mid-May, compared with the same period last year. In Los Angeles, the number was 17% during the same period. Salt Lake City saw a 22% rise in car thefts. 

"And many other law enforcement agencies around the U.S. are reporting an increase in stolen cars and vehicle burglaries, even as violent crime has dropped dramatically nationwide in the coronavirus pandemic," AP reported. 

In Austin, Texas, auto thefts in April soared 50% over the last year. Austin police Sgt. Chris Vetrano said the virus had created a "perfect storm." 

AP outlined the elements of that storm:

"Drivers are at home and not using or checking their cars regularly. School’s out, so teenagers are trying their luck. Criminals are out of work and have more time on their hands or need fast money to support a drug habit." 

What should be shocking too many is that Baltimore City's vehicle thefts from autos actually plunged 24% and stolen vehicles dropped 19% over the period when compared to last year (by the way, the numbers from Baltimore are not believable -- consider the city is an absolute shithole). 

So there you have it, auto thefts surge across the country as coronavirus lockdowns trigger an economic depression with tens of millions of people unemployed. As we've outlined in the past, the recovery could take several years, which all suggests, thefts are likely to get worse.

Is this why Americans panic hoarded 9mm ammo earlier this year? 

Tyler Durden
Tyler Durden (a pseudonym) represents the idea that a return to truly efficient markets is a possibility and a necessity. After having experienced the inner workings of capitalism at various asset managers and advisors, Tyler believes that the current model is flawed and a deleveraging at every level of modern society is needed to reinspire the fundamental entrepreneurial spirit.

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