Tag: economic depression

Recommended by Ricochet Members Created with Sketch. NYC: “Ghost Town”

 

I’ve been watching and reading, with much dismay, the implosion that is happening in New York City. It has long been one of my favorite cities on this big, blue marble; a beacon of possibility and entrepreneurship and the grit it takes to carve out your own destiny and future. It pains me to see this play out, even more so because it seems like a foretelling of what could befall the rest of our country.

While there have been varied accounts of the situation unfolding in our great financial capital, a colleague’s LinkedIn post last week really hit me right in the feels. This just might be the gloomiest yet most poignant post I’ve read so far, and while the author may be considered controversial by some standards, he does have a knack for spotting trends, he was a full-time resident of NYC, and his take makes a lot of sense. The taxes are high, the cost of living is outrageous, and businesses and residents are disappearing to never return again. How can the city come back from this devastation? Also, I suspect his predictions for NYC will also ring true in other cities like San Francisco and Chicago.