The Greatest Depression | 03/24/2009 6:00 am
Joan Juliet Buck: Recession Ending Business, but Life Is Just Getting Started
The place downstairs was called Starwich and it had big leather couches and Wi-Fi, which attracted silent people with laptops. The fact that this is a desolate part of Midtown West didn’t stop it from selling Kobe beef sandwiches. I knew the moment I moved in and ordered a lunch for two that cost $39 that Starwich would be the first place to close when the recession hit, and it was. One day last October a sign outside said “For Sale,” and inside, everything was indeed for sale, from the big leather couches to the sinks, mugs, muffin racks and steel counters. Two guys I know bought a sink as a planter. "One down," I thought, "millions to come."
CVS used to stay open until 11. Now it closes at nine PM.
The food at Food Emporium was never the kind of high-quality, mouthwatering, Alice Waters worshipping stuff you see at Wholefoods, but it was good enough, and there was a lot of it. I was pleased that they carried the Green and Blacks 85% chocolate bars from England. Last fall I bought as many as I could, in the full expectation that as things got worse, Food Emporium would stop buying chocolate from England. It’s almost all gone now. In the evenings there are fewer people working there. “We get seven bucks an hour,” said one of the staff. “And now they’ve cut our hours.” There is also less food. On Sunday night, I bought the absolute last head of fennel, the last head of romaine lettuce. Management trimming its margins, of course. The sight of the depleted shelves reminded me of a photograph I saw in Granta of a supermarket in Sarajevo during the war in Bosnia, where there was nothing at all on the shelves. Our American idea of food and supermarkets has always been an inflated vision of plenty that was as wasteful as it was appealing. We’re going to have to learn to do without the spectacle of food.
In November, I ate with friends at a chic Vietnamese restaurant in Tribeca. We were the only people there.
On December 20, I bought more clothes at Bergdorf Goodman than I had bought in years, 14 dresses and shirts and skirts and a coat — for what one jacket would have cost me in early September. But here’s the problem: I feel ostentatious in the new clothes.
My local dry cleaner has less business. The customers bring in fewer clothes, and less often. Many business shirts no longer needed.
On March 2, a friend had a birthday party at a huge Japanese "brasserie" called EN, on Hudson street, where a downtown crowd used to fill every seat. The party was in a private room upstairs; I arrived at 8:35, and walked through an entirely empty restaurant.
On the other hand, when I go to people’s houses, we all stay up talking until three, or four, or even five. The artists who had the huge studios and the huge staff to carry out the huge commissions are getting rid of the studios and cutting down on the staff, because there are no huge commissions. The artists who always worked alone, who walked, biked or took the subway and subsisted, throughout the gilded age, on whole-wheat pasta and alcohol, are still working alone, and maybe as drunk as skunks a little more often. People are noticing each other a little more. At theater, they laugh harder.
The toys are being taken away, but life, I think, is coming back.

























36 Reader Comments (so far…) Sign In or Register to comment
I hear you, where I am, LazyBoys closed down, Circuit City where I bought my pc and printer 2 yrs ago.
Seems now I have to special order my ink for the printer, or wait for Staples to eventually buy out Circuit City’s stock and start stocking it there. Farmer Jacks closed, Hillers moved into one of their stores.
Even Pontiac Schools having issues that the City closed them down and hopefully will fix their financial mess. Though I wonder where the children ended up going to school at while they do that.
Gas is fluctuating up and down in the prices. I dread going to the doctors. Even my mother in law asked if we should start stocking up on canned vegetables, but where would we store them, and should we be that worried yet?
I used to love go shopping, now I wonder, should I hold off. There are those days I’m glad my bank takes my extra change in the "Keep the Change" and stuff the extra back into my savings.
Honestly, I am biding my time and praying things get back to normal (if you can call it normal) by May. Don’t ask me why May, but that’s what they said about the 15% pay cut they took out of my husband’s check.
I’m just thankful he still has a job. :sighs:
I was just listening to the radio and a woman called in saying that everyone is talking about people being careless with their money and she said, "Most people are like me. When gas prices skyrocketted we had to charge the gas for our car on the credit card in order to get to work, then food went up and we had to charge for food so that we would have enough money in the bank to pay the mortgage… we ended up with credit card balances that we not only couldn’t hope to pay off, but the credit card companies are allowed to keep increasing the interest rates, so our balance kept increasing! This is the average person out there and how we are suffering. I’m sick of hearing about AIG and Bernie Madoff, what about us? We weren’t being irresponsible, the rules kept changing and we couldn’t keep up."
What about Usury Laws that are not longer in place? What about the changes to the bankruptcy laws that were put into place a couple years ago. Seems to me a house of cards was in place and the government knew it… so instead of protecting the people, they changed the laws in order to wipe the people out. Now many are blaming the average person for being irresponsible, etc. Not true.
No once forces you to use a credit card.
Many of those companies are struggling as well and their employees want to be paid becasue many are not buying anything with their cards.
Corporations are people too and millions of people work for them! Bankrupcy should not be easy to do either.
Welcome to the real world!!! That’s what , we, the rest of the world,have been going thru for many years now.
Nothing much has changed here, in fact even posting a 1/2 time job here at $9/hour brings no one, which is about well above the minimum wage paid for most part-timers (light duties) brings nothing. The usual national stores closed, of course, and the city screwed up in its planning so dared to raise water rates ~54% by next September; however, I did talk to someone who’s credit card company popped theirs up to (could it be??) 21%! I told her to tell them she was filing for bankruptcy "so go right ahead, either drop that rate, or lose out … " She phoned me to say that her cc company did just that - they dropped her back to her original rate! Danged banks! They deserve every bit of government oversight they’re going to get, and more. I did suggest she change their accounts to a CU, and also put some of their savings into T-Bills -
I believe we’ll see the worst signs of economic collapse in the areas with the most flagrant exhibitions of "wealth" real or perceived. I’ve lived in those cities, and it can get to be a "nasty" habit - spending that is.
This is not an economic downturn, it’s a cut-off switch, as the chairman of GE terms it, "a re-set." The populace will never trust corporations or mortagage companies (well, they are gone now, and should be) again, or they arer foolish. I’ve noticed that merchants are still selling the warranty insurance on products, and the consumers don’t seem to be asking who the insurance holding company is - most likely it’s AIG - that’s a great part of what did them "in" - rather "out."