Quote from EMRGLOBAL:
Merco, not sure what "HOT SPOTS" you'r at but my mates own two, Crobar and Pacha. Both Spots are packed non-stop end to end every weekend and on certain weeknights with 40 to 50 bucks a cover.
Sure, there are some spots that might fall off. Rent is still high, overall property values are still hanging in there.
What is dead is the "STOCK MARKET". The Investment banks killed themselfs, the public is moving out of the "Market" fast and I expect a decade of avoidence towards any part of the US Stock Market in Equities.
The damage is done and can not, will not be reversed.
But plenty of opportunity in Hard Assets, Bonds, and entertainment.
Over all, the TAX INCREASES by the idiot mayor will kill the middle class that is hanging on by a thread, trying to live in Manhattan.
Nevertheless, I'm in NYC often and things are still moving along as normal.
Yes unemployment will rise in every city but DEATH to NYC is not going to happen.