Photographic proof the economy isnt getting better

Everyone thank Zero Hedge for posting these pictures.

Between 57th Street and 85th Street, Madison Avenue is identified as "the fashionable road". In this area is where most of the very well known fashion designers, jewelers and upper class hair salons are located.

* Some of the world's most upscale boutiques are located on Madison Avenue including Gucci, Hermès, Prada, Chanel, Asprey, Cartier SA, Chloé, Tom Ford, Oscar de la Renta, Coach, Christian Louboutin, Yves Saint Laurent, Missoni, Dolce & Gabbana, J. Press, Vera Wang, , Loro Piana, Emanuel Ungaro, Carolina Herrera, Miu Miu, Jimmy Choo, Christian Dior, Bvlgari, Graff, Roger Vivier, Oliver Peoples, Christofle, Baccarat, Bally, Issey Miyake, David Yurman, Roberto Cavalli, J. Mendel, Valentino, Donna Karan, Luca Luca, Lana Marks, Fred Leighton, Giorgio Armani, Ralph Lauren, Mulberry, Kenzo, Max Mara, Calypso, Etro, Givenchy, Michael Kors, Chopard, Lambertson Truex, Longchamp, Herve Leger, Sonia Rykiel, Breguet, Blancpain, Folli Follie, Juicy Couture, Cole Haan, Celine, Emporio Armani, Stuart Weitzman, Calvin Klein, Betsey Johnson, Paul Stuart, Ann Taylor and many more.
* Brooks Brothers, the oldest retail clothier in America, is headquarted and has it anchor at Madison and 44th Street.
* Barneys New York also has their flagship store on Madison Avenue at 60th Street.
* Louis Vuitton 2009
* Ambassador Luggage

Wikipedia

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Let me add one more thing, I recently put up a thread Ten Things That Could Still Go Wrong with the Economy number two on that list is:

2. Commercial Real Estate Collapse: Various commercial real estate deals face trillions in refinancing obligations over the coming years. But the market is practically closed, ensuring massive bankruptcies and restructuring.

Why are lenders so freaked out? Because existing loans are going sour at a pace unlike anything we've seen in history. Because of that, even commercial real estate properties with strong cash flows are finding financing extremely difficult to come by.

Think about that for a minute.

Boarding, fencing and security companies have seen a significant increase in turnover recently. Green shoots at last.

reply to post by pause4thought


Green shoots for the repo men as well.

Those green shoots are weeds in the entire brown lawn of the economy though.

that doesn't necessarily prove the economy is in the tank... but it does prove even the ultra rich are shopping at the dollar store...

Seriously I've seen a lot of upper end stores shutter, while second hand stores are sprouting up everywhere.... that in itself is a sign

These pictures are only between: 62nd to 72nd

Read the comments on the blog.

Look an entire empty Mall.

[edit on 6/14/2009 by Tentickles]

reply to post by Tentickles

Those green shoots are weeds in the entire brown lawn of the economy...

Well said. And looking beyond the depressing images of closure it's not hard to imagine how a single closed door represents several people with no job to go to.

Then there's the very real knock-on effect for the respective suppliers/manufacturers, not to mention the service industries associated with every business operation.

This is one ugly game of dominoes.





[edit on 14/6/09 by pause4thought]

Sweet! Consumption is down, way down, and I love it. Keep up the good work, Earthlings, and you just might do the Earth and her ecology some good. After this economy has crashed and we all have lots of spare time on our hands, we can begin to address this over-population issue next. Sweet, the future is looking better with each and every passing day and report of doom and gloom, I love it!

Originally posted by Tentickles
Everyone thank Zero Hedge for posting these pictures.


Let me add one more thing . . .

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Well, how does that go?

He who has sawn wind harvests thunder.
He who has sawn $$$ goes under.

How about that for a POOF?

Yeah, I have to tell you that I can post pictures of closed stores at my local mall, empty and vacant spaces waiting for somebody to rent them.

Still many that try to open a retail store that is not from a major retailer name but local doesn't last more than few months before is vacant again.

The city in my neck of woods try to invigorate the down town area and it actually did it for about two years then the economic crisis hit and now the down town at night is off limits due to crime.

During the day only the city buildings are still active and working the rest of the retail spaces are mostly closed.

ROFL

Great thread...

This is WHY the economy is bad... people PANICKING


I live in a similar location on the West Coast and lol... no One is OUTSIDE, it's so stupid because it's not like the people that shop at the above location or where I live have a thing to worry about...




I asked my Uncle to Lunch last week... at CHILLIS

This guy, is worth like 45 Million...

He says "I don't think I should spend the money, are you buying?"

I said "Your not serious are you"

He responds " well I could loose maybe 20% of my portfolio "

So I just said maybe some other time...



But is he out of his mind... OMG I'll only be worth 30 Million dollars next year.... that Stuffed Onion and a couple of cokes is going to make or break me...

This economy is bad... because GREED is so rampant it's at a point of insanity

OH noes... I'm only worth 25 Million, better not fill my Tank with Gas and go somewhere....

The Joys of Obama saying he will Tax the Wealthy LOL

Now every poor person in America can't get a .50 tip at the local Diner...



LOL there is NO REASON for any store on Madison Ave to ever have to close...

People are all sick and stupid I swear to G-d...



Me, I might be an elitist... but i'm still tipping 40% and splurging for shots of absinthe that TPTB say i'm not allowed to have in this country... MY Thursday Night was 300.00 just at the bar...

This is the sort of stuff that makes even me say... ______ The Rich

I support anyone to make as much as they like with no penalty for being a success....

Just spend it You ANIMALS Rofl... SPEND IT... it has no other purpose...

Can't take it with you my Mom always said...

reply to post by mopusvindictus


Try being worth 170 mil before the precious portfolio and arguing with the phone company for half an hour! ($22 worth of charges!)
Over what you ask? A worthless nephew who keeps calling you from his cell phone after 20 years of nothing because you are close to death....
You want pathetic that is it!!!! But that is why they keep their money to begin with, any little thing and they are on it like fly's on poop.


As far as the picture's go it is the same way here where I live and has been for a while. The owner's are even leaving at night so they can skip the bill men! There and running on Monday and GONE Tuesday morning! No notice nothing just gone....

reply to post by stander


...And they know it. Here they are after discussing the order in which to destroy the world economy:


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...already togged up for a 3rd-rate has-been's modelling agency.

reply to post by xoxo stacie


LOL I NEVER expected to be on the opposite side of the coin in this debate... Not a year ago...

But I am...

I mean I KNOW, that being a bit frugal is how to get rich, but this is out of control... perhaps TPTB really do have a deep, deep understanding of how people will react...

Never would have pictured Millionaires staying home at night along side paupers because of some...okay strong losses, but still...

There is truely no sense to peoples behavior...

This is happening a lot in Australia too.

Virtually every main street have a couple of vacant shops, where as a year or so ago it was hard to find space to set up a business.

Seems to be slowly turning around though.

It's happening everywhere. It's proof that things are getting worse.

People are saving in stead of spending, and high end retail stores are always the first hit.

Being high end themselves says alot about the rich as well, they are tightening their belts as well.

The busiest places I have seen lately are the pawn brokers..... If that isn't a sign of a doomed society what is?..... What is even more telling, is the amount of people that are shopping pawn shops and paying outrageous prices for AR-15s and ammunition.

Madison ave. is finally seeing a little pain.

Check this link to Dead Malls of America to see the real pain. Very eerie. Hitting this site and the various links is like falling down a rabbit hole. I hung out at several of these malls in Ohio as a kid.

www.deadmalls.com...

[edit on 15-6-2009 by jibeho]

[edit on 15-6-2009 by jibeho]

reply to post by Ten tickles


You are right about that, for the first time Americans saving are raising.

Cutting Back in the Economy

According to a recent piece in The Wall Street Journal American personal savings rates are at their highest point since February of 1995. After-tax personal savings rose to 5.7 percent in April, up from 4.5 percent in March, according to the Commerce Department.

www.economyincrisis.org...

This is not what government wants, government wants people to spend, spend and spend some more, but this time without the help of credit cards as spending limits has been cut.

reply to post by Tentickles


Tentickles:

I am in the R/E business and it just plain old stinks right now.

Those units for rent would have been and could still be oppurtunity for new business ventures to come along and take up the prime spaces for cheaper rates than what the outgoing business was paying in rent.

But there is a problem. Banks are NOT lending to small business or are putting them thru the wringer for small credit limits.

How is the enconomy going to recover unless small business is able to obtain funds to generate local commerce? I say that both the small businesses and the local average consumer need to be able to buy and cause exchange of money. That stimulates sales taxes, inventory movement, purchasing power, payments towards credit, expansion or retention of employees, and many more positivies that I just can't continue to list.

It starts with credit. The ability to borrow. No borrowing, means no economy.

Remember Popeye, "I'll gladly pay you next Tuesday for the budger I can have today."

We all need credit to move this economy forward.

Forget about bailing out the big business. As a small business owner, how do I get a bailout? How can I borrow money at reasonable rates?

American Express has been on a self-serving mission to reduce everybody's credit limit to ludicriously low levels. They stand out the most as they are directly affecting small business's ability to do business. They are recinding unused credit limits and closing business accounts on their own accord because they feel they are exposed too much.

Amex has become EVIL. Once a great charge card, now a sore looser.

My 1st CC was an Amex that I got without even trying while in my 1st year of college. I will be closing ALL of my AMEX accounts very soon. Too bad AMEX, you had your chance.

-EyesII

reply to post by Tentickles


Disregard - Double post.

How did that happen?

-EyesII

[edit on 15-6-2009 by EyesII]