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New York is dead, didn’t you hear?
For months now, Joan Didion’s essay “Goodbye to Everything” coming out of New York has returned to fashion, adding mine for Business Insider.The recent maxim, which turns out to have a lot of people, adding Jerry Seinfeld, came here from James Altucher, republished in The New York Post.”New York is dead forever,” altucher’s name repeats, before necessarily setting the bear’s case in favor of the city’s economy, which corresponds to Altucher’s delight in the coverage budget before embarking on books and podcasts of self-improvement opposed to the Current.
Altucher told Business Insider that New York will “attract others in search of new opportunities and in the quest to mingle with other creatives,” but that because of its existing challenges, opportunities will disperse in many second- and third-tier cities..”
The urgency of claiming New York’s death is a phenomenon, the whole country is suffering right now: Congress has failed to pass a new stimulus in a context of double-digit unemployment, schools and schools are reopening only to close again, and viewers are powerless in the face of massive workplace interference months before a mail-order election most likely heavy.Why, in the midst of all this, do some commentators insist that this pandemic is what will kill a specific city on the East Coast?
There is an undeniable old precedent for New York’s existing demanding situations, as presented through Altucher: The 1970s, when New York necessarily filed for bankruptcy and crime exploded, summed up through the standout headline of daily news: “Ford to the city: falling dead.” (In 1975, New York had asked then-President Gerald Ford for a federal ransom.He said no.) Apocalyptic budget crisis. Echoing this, the city’s MTA transit service, which is to blame for the subway, now says it will have to reduce exercise and bus by 40% by 2021 without federal assistance.
Something appealing happened in the 1970s, apart from the death of New York: American society has replaced it in a way that is just beginning to be appreciated.The roots of today’s unprecedented inequality and social divisions, so cruelly exposed through the coronavirus recession, go back a long way to the decade when its ultimate vital city went bankrupt, asked for a ransom, and went to its own devices.
Since the 1970s, genuine inflation-adjusted wages have risen to 0.2% for the average American.
This is a sign of how something changed in the economy: Marc Levinson argues in “An Extraordinary Time” that the decade marked the end of the long postwar boom, and politics and society have adjusted in response.”The change came in late 1973.The fourth of a century before that date, beginning in 1948, witnessed the remarkable maxim of economic expansion in human history,” Levinson writes, before adding, that peak unemployment and a deep recession in 1973 “changed everything,” concluding that “a much more conservative time came with economic changes , shaped by the fear of failure and the consideration that young people have worse, not better.”
Other authors have supported Levinson’s main thesis, adding Steven Brill arguing in favor of a 50-year downward spiral in “Tailspin,” which argues that elites climbed the ladder of good fortune and climbed after them, and more recently, Spy mag co- Founder Kurt Andersen argued in “Geniuses” that he himself was a “useful idiot” in New York after the 1970s.Array slept through the transformative effects of the conversion of society and the growth of inequality.Ginia Bellafante of the Times that he is “stupid and shallow”).
New York’s business elegance is terrified through a repeat of the 1970s stage, with billionaire Trump and Equinox President Stephen Ross joining a former Bloomberg congressman to place a white knight mayor candidate to secure New York’s fragile acquisition and more tax gains.necessary across the city and state, Gov. Andrew Cuomo said he simply couldn’t raise taxes right now because he feared it would come out more effective than New York.
So when other people say that New York dates back to the 1970s, they are not communicating about this city or that decade; they communicate about the role that cash plays in American culture and politics, and the direction this country can take over the next half of the century.It’s a very busy subject.
Anecdotal evidence already suggests a return to that time, such as the New York Times report on damaged subway windows, reminiscent of the era of ruined trains dotted with graffiti, as shown in the period documentary “Style Wars.”
The unemployment scenario in the city is lately worse than in the 1970s, with an unemployment rate in June for the metropolitan domain of 17%, compared to a peak of about 12% in the mid-1975s, both well above the national averages of their Things are not so bad in terms of the city budget , even if they are still terrible.The Wall Street Journal reported that the city had a $9 billion deficit over the next two years, a mis comparison with 1975, when the $13 billion overall budget in 1975 (adjusted for inflation, the 1975 budget would be approximately $62.6 billion today; NYC’s budget for fiscal year 2020 is $92.5 billion).
Reviewing possible layoffs provides more information about the story.The Journal reported that the existing deficit can result in the dismissal of 22,000 New York workers, about 6.7% of the total.In addition, Chalkbeat New York reported that 9,000 teachers in the city could be fired, torpedoing plans to partially reopen schools.In the 1970s, according to Forbes reports, employment in the city contracted through 45,000, or 20%, and 14,000 teachers were laid off while nearly a hundred schools closed.
In response, some other major player in the crisis of the 1970s is preparing for a comeback: the New York State Financial Control Board, established in ’75 when the city approaching bankruptcy to oversee the budget, won over three other people appointed through Previous Cuomo this summer, according to The Journal.
State budget director Robert Mujica told the paper that Cuomo was involved in the city’s budget prospects.”The same thing that happened in 1975 happens again,” he said. The Supervisory Board had a “control power” from 1975 to 1986, when it became a review function it had lately; The state legislature approves some other era of review.
The New York Times reported last month that rates of gun violence and killings are rising this year, while noting that gun-related arrests are declining and murder rates are still close to historic lows (the city only returned to its 2015 homicide totals) Knowledge is a significant improvement over the 1970s.In the 1965 to 1975 decades, the Guardian reported that the killings went from 681 to 1690, car thefts doubled and thefts tripled.The following year, 1976, was a record year for crime in the city, according to a 1977 article through New York Times subway reporter Selwyn Raab (later the definitive account of the five New York Mafia families).
The flight from New York is not as bad as in the 1970s.The thousands of people who recently left the city due to the pandemic pale compared to the population decline between 1970 and 1980, when the population of New York City was reduced by 10%.estimates that about 5% of the city left between March 1 and May 1.However, it is surprising that New York has reached some of the population loss of this decade in just six months, although possibly many New Yorkers will return once.a vaccine is available.
In an observation to Business Insider, Altucher said the scenario was worse than in the 1970s, for two reasons.At that time, the city never closed its doors and its position as the epicentre of media, fashion and finance never wavered; and existing technological advances mean that many of these industries may be 100 percent remote now, claiming that “the next generation of traders and artists will move” to small towns.
People are “aware” of the unrest facing New York City, Altucher said, and “don’t manipulate them in the hope that courage” will save everything.”The fact is, he continued, “there are genuine disorders now and simply firing “The Messenger will solve them.”He said the city “needs a big rescue and smart thinking about incentives.”
If Altucher is right and New York City is coming or even surpassing its lowest point in the 1970s, that would be painful in many ways, but it’s not a bad thing.In The Times, Hamilton Nolan argued that “cities are not theme parks for the rich.”and that they can “reborn for the better” through a replacement in their existing golden economic state.
Others braggedly fantasized about returning to the 1970s.Five years ago, when the perception of a global pandemic seemed as unlikely as the election of President Donald Trump, Edmund White of the New York Times reported “an intense preference for living a five-year period “from about 1977 to 1982, when New York was a cutting-edge but dynamic cultural capital.Array as opposed to the castle of finances at the end of Obama’s years.Patti Smith’s romantic memoir “Just Kids” would possibly have caused a stir in 2010, reminiscent of a sandy city where mythical careers were born, adding that of her and that of her former partner, photographer Robert Mapplethorpe.
Like many young people in the ’80s, I grew up in the cultural shadow of this New York that was decades ago.I grew up listening to music that largely referred to punk rock invented in the declining component of 1977’s “summer of punk,” reading infrequently Marvel comics set in a select New York, where many superheroes lived in the city, but there were more crimes to fight against.In music, this city era also gave rise to disco and hip-hop, which shaped the DNA of trendy pop music.
Much of this culture was a product derived from the terrible economic situation of the city.”Ascending” bureaucracy, such as self-made punk or reasonable comics, flourished when New York City was at its lowest point because they didn’t require much capital to produce.they have had a lasting and extensive influence, as evidenced by high-level designer John Varvatos, who switched the former CBGB punk club to a boutique and that superheroes literally have the most popular and successful kind of film of the last decade.it cannot escape the influence of the years, as shown through the 2019 “Joker”, which takes place in the past 1970s in New York and which includes many direct tributes to the films of that period, especially “Taxi Driver”.and “The King of Comedy” through Martin Scorsese.”
New York, which dates back to the 1970s, at least spiritually, if not financially, would possibly bring it back to life.The National, one of the bands that came out of the 70s search engine optimization wave of New York gangs in the early 2000s, has a lyric that reads: “New York is falling back in its skin; dies every ten years, then begins again.”The pandemic is ultimate definitively rebalancing America’s urban, suburban, and rural spaces, and New York City, in a way, is going through a kind of death.Still, Apple and Amazon are two of the corporate giants that place long bets in Manhattan offices.But we would also be witnessing a renaissance.