Thursday, October 30, 2008

The decline of manufacturing in NYC

And there's more here: Uncertain Industry

And the NY Times chronicled preservation efforts this week.

From the Nation:

At the same time the City is destroying the small industrial enterprise that creates employment, it is subsidizing Manhattan real estate. This year it is handing out a half a billion dollars in subsidies to organizations who do not need them, some of which are as frivolous as Major League Baseball. Gotham has bet big on the service economy, particularly the finance part of it, and as a result there could be a loss of 165,000 jobs in the next couple of years.

What New York City has been doing, so has the nation: misdirecting capital, energy and invention away from productive enterprises into activities that put no food on the table. With nothing to sell to foreigners, we have become a nation that borrows from them to pay for both necessities and luxuries. A nation that cannot earn its own living is in for a long, painful decline.

Bloomberg Beats Democracy


Anonymous said...

Good article.Queens C. referenced the Nation.Yes what does America produce anymore?Thats a dangerous path to out source and borrow from China till the cows come home.Yes little mike way to emulate KGB Putin.

Anonymous said...

NYC land has just become too valuable to have large manufacturing factories on it.

This is a progression as natural as the move away from horse and buggy.

Anonymous said...

* There will be consequences
The inevitable collapse of the dollar
search for this short video on You Tube.Good 7 minute video
"The path that we're on right now is not sustainable."
"The portfolio adjustments will be swift and severe."
"There's going to be a major realignment of global living standard."
"Everyone knows the dollar could collapse, but nobody knows where it will start."
Less production,more borrowing.Recipe for disaster.