Wow that is great asking Moody's...why don't we ask moody's and S&P to also tell us when we will start getting jobs again...they are such a credible source...I am so glad they were the ones whom rated the CDO's and CDS's so effectively a year ago!

Don't believe the hype.

The worst of the city recession is only BEGINNING now.

There has been quite a delay, but the economy will sputter once city and state municipal services are finally slashed and taxes soar. Cutting mass transit service will lead to increased travel times and reduced productivity. Real estate values outside of Manhattan will struggle to climb as taxes spike, schools are closed and the roads become pocked with pot holes with no money to repair them.

Two more things:

—Most of the media jobs that were lost are not coming back.

—Tourism is not going to return to where it was because the Euro is on its way down the toilet.

Especially considering that Greece is dragging the EU down as a whole and the other EU countries, especially Germany, will probably have to end up paying for Greece just to make sure that the EU doesn't collapse as a denomination. Not to mention the infighting about the supposed UK take over of the EU, not like that country is doing that much better than Greece at the moment (though they have their own currency)

What's funny about the situation in Europe is that Greece was destined for failure even before the EU was set up.

Regardless, there's a long list of countries that will soon follow Greece's course and the "first President Europe", Herman Von Rompuy (what a douche - totally not elected, but appointed. Who came up with that idea anyway?), has been talking about implanting a global governance. What a brilliant plan, right? Hopefully our own government won't feel the need (or succumb to the pressure) to bailout any European countries. Afterall, we are SO effed.

SOOOO effed.

$12,523,931,062,622.03 and growing every minute - that's our National Debt. Awesome.

(For those who will try to argue that it's the Bush administration's fault, fair enough... BUT the national debt was $10,626,877,048,913.08 when Bush left office and in a matter of eight years he accumulated $4,899,100,310,608.44 of debt total - that's... A LOT.

But if we were to say that this current administration is responsible for accumulating nearly $2 trillion in a year, and we continue on the unsustainable path we are on it would mean we could possibly be in the hole for $20 trillion in four years time.)

wow...looking at that cat picture and seeing just how ugly those animals are makes me wonder how they ever became domesticated. look at that ugly thing!

wow...looking at that cat picture and seeing just how ugly those animals are makes me wonder how they ever became domesticated. look at that ugly thing!

What about actually UNDERSTANDING what the experts have to say instead of giving all decision making power to the failed system of bankers:

http://www.charlierose.com/view/interview/10885

while nyc is practically unliveable unless you're rich, there are a bunch of trends which will make it the place to be in america for a lot of people

manufacturing towns are going away those people will retreat to cities where theres work.

it will become more expensive to live in suburbs. cars, big houses being the norm everywhere in america will to revert to people living in cities.

culturally, living in nyc will become more of even more of a rite of passage.

getting every last drop of that terrorism money from the goverment.



cramped living spaces and public transportation is the green thing way of living.

and on and on. I still feel our goverment is so bad here its not worth being here, but for all you schmoos with no options, they'll be a future for you here.

yeah because NYC is like the only place on earth...

If you can make it anywhere, you can make it here.

WTF was that? A suicide note?

Doubt it. NYC isn't a city on the rise. Austin, Seattle, these are cities on the rise. NY state has been bleeding population (who move to Philadelphia, Atlanta, Austin, Seattle, etc.) and both the city and state are in fiscal ruin. Companies are leaving the city in droves to move to Jersey or Connecticut, if not going across the country or across the globe entirely. Immigrants can't afford to live here anymore, so NYC's melting pot status will probably be dead once the children of those immigrants leave the city (read: probably within the next 20 or so years). And more importantly, the cost of living isn't in tune with wages, meaning that eventually those who like to call themselves the middle class (the working class earning between 50,000 and 100,000) will likely end up moving out of the tristate for a cheaper city with similar wages (Like Seattle)

you might be right D. Those cities have far better quality of living than here. I think the simple critical mass of ny and its uniqueness in america will keep young people moving here trying to recapture some lifestyle thats long gone.

we'll see. In the short term, I am betting against those shatty condos that are everywhere, but time will tell.

NY State may be bleeding population but the city's population is at an all-time high.

Any info on the distribution of unemployment in NYC - such as among different economic groups?

In the US as a whole, the current recession has hit people at the lower end of the economic scale much harder than those at the top in terms of employment rates.

And how long are people unemployed on averge. 10% unemploymet in itself is bad but not necessarily terrible if there is a lot of churn - losing jobs and getting jobs. But persistent unemployment of the same people is disastrous - that's what leads to things like bankruptcy and homelessness.

Yeah sure. Don't think that the recession is over and we're all going back to living like its 2007. Nope trade groups are forming all around the world with an attempt to exclude america due to its apparent new weakness, the most notable of them being the new latin american/Caribbean trade group which disallows American and Canadian membership. Brazil's gunning for some sort of deal from the US for sanctions against Iran, Argentina's looking for some sort of US action in the Falkans, (both are reasons why the Hilary's being sent down on her Latin America tour) China's economy might just overheat in the next couple of years, and the Russians are expanding their sphere of influence.

Overall the other nations of the world are becoming weary of US involvement in trade, since their actions have the potential to ruin the economies of their own countries. That's not to say that the US won't be involved heavily in international trade, far from it, we will still be number one on that aspect. However I think that what follows from here on out is a more skeptical international market, one which will be more hesitant on proposals US multinationals generate, and as such you shouldn't expect the same amount of foreign investment, which really drove New York's real estate market up until the bubble burst.

Not to mention that aside from keeping the fed low, Dubai and China were great loaners to US multinationals which kept their rates artificially low. China has re-prioritized its spending to encourage internal development (including the training of skilled workers, without college educations, but some sort of technical training, which the country is of desperate need of, as well as housing, which some speculate could cause a bubble.) and Dubai is broke, so those avenues of funding are cut off. This is why the fed has had to keep its rates so low even though these companies have apparently recovered. The truth is though that our large corporations have become dependent on the fed's rate to be low since they both lack the capital to operate, and are unable to lend to one another at reasonable rates. Eventually the fed is going to have to raise its rates again, and then we'll end up seeing the fallout.

oh yeah, has anyone bothered to check out Dubai Slaves"... it's SO great UNTIL you see the truth. SAD. We are all slaves, but truth be told (and seen on youtube-dubai slavery)

Go on D, i like what you have to say..many others won't... too scary to accept or deal with.

Tell shit that to people in Black neighborhoods. This is BS