#worldview_newyork

This is all a bit ‘arse about face’ as I’m currently in Mumbai, but here’s a post about my trip to New York a few weeks ago.

I’ve pulled together a short film using some of the pics and vids I took during my visit to the big apple, and below have written a few words about my experience of the great city during this period of severe economic turmoil.

 

The atmosphere in the fabulous, diverse metropolis of New York had changed markedly since last time I was here, barely a year ago. The mood was darker, the streets more sombre. There’s still the hustle and vibrancy and dynamism of the city I know and love, but the recession has definitely taken – and continues to take – it’s toll.

The newspapers and TV stations were full of angst and vitriol, much as they are in the UK. The front page of the New York Times was running a story about the tent cities springing up across the USA as more and more people lose their jobs, their homes, their livelihoods.

 

 

 

 

 

 

 

 

 

Announcements of a 6.3% reduction in GDP from the last quarter of 2008, the fastest decline in the US economy since 1982, flashed across the bottom of the screen on every news channel every 30 seconds. The Barclay’s logo swept across the digital signage of what used to be the Lehman Brothers building, sending a chilling and symbolic message across the neon diorama of Times Square.

Obama’s new administration continues to push through stringent regulations on the very financial system that has brought unprecedented wealth to America, in order to prevent the kind of systemic risk-taking that has brought the global economy to its knees. But the very concept of Government intervention and regulation is anathema to an America that has grown exponentially under the free market ideology of Milton Friedman. And one could sense that there is a deep concern that it will no longer be the land of possibility it once was.

 

 

 

 

 

 

 

 

 

Even the feelgood factor from Obama’s election victory seemed to be wearing thin – only 66 days into his Presidency – as journalists began to snipe at his perceived fetish for media exposure (an appearance on the Jay Leno show; the cancelling of American Idol to address the nation), and pounce on his errors of judgement, such as his unfortunate comment whilst on Jay Leno about disabled athletes.

And all of this amidst the glare of being the most important man in the world at a time of unprecedented economic challenges, with politicians from both sides of the bench questioning and belittling his proposed $3 trillion bailout package. The G20 summit in London a couple of weeks ago may have been a success, but domestically Obama is under extreme pressure to turn the economy around and lift America back onto a positive footing.

I absolutely love New York, and have no doubt that it will be at the forefront of America’s surge back to growth, but times are tough right now and NY is feeling the heat.

 

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One Response to “#worldview_newyork”

  1. Robin Says:

    Your affection for NYC is clear and like all great cities it is moulded by the tough times as much as the purple patches. That’s fundamentally down to the people and New Yorkers are well proven as more resilient than most.

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