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
DeBurca 9:32
Great Post. Yep, life is sure on ass backwards. Well it is all going to change now. You sound like a very responsible person, but I will tell you, many people are not. I know so many people that used the equity in their homes like a checking account. Out to dinner all the time, kids have every gadget, vacations they couldn’t afford, large vehicles with $700 per month leases, all new furniture and more. It was all around me, but I knew it wasn’t real because I knew what some of them made, and it was less than us, they were charging that. That is another reason the banks got so extended. The banks shouldn’t have let them do it. The banks extended credit to people who couldn’t afford it, got them hooked, and then charged them ruthlessly.
I think the thing that bothers me, is every day you could turn into Oprah or one of the morning shows, shows on PBS that would teach you how to mind your credit and not make those mistakes. I heard caution about once a week. I wish people would have listened.
There are others that did not own homes and had to use credit to get by, if help is given, I hope it works to change the situation.
There is a lot of preditory lending out there, along with lax Usury Laws. When my son was 18 yrs old going to college full time and working in a coffee shop part time for slightly over minimum wage, he was getting credit card offers every other day, all he had to do was sign the paper, no questions asked. And he did. He ended up owing money he could not really afford to pay back. Every parent I know has the same story with their college age kids. Add to that, credit card companies having the right to charge interest rates that rival loan shark rates, which they usually DO charge to the people struggling the most.
People’s REAL income has been falling for years and most people who are not high income, who are in over their heads with credit cards are over their heads due to car repairs, medical bills, dental emergencies, things they had to pay for and didn’t have the cash for. I know one couple with both adults working who have health insurance, who went bankrupt due to maxed out credit cards and home equity loans… all due to medical bills for the husband who is diabetic and their autistic son. I always hear stories about people living high on the hog with credit cards, and no doubt there are those people, but most people have just been caught in a shrinking middle class with wages that have not risen with inflation in years, who have to pay ever increasing insurance premiums, water bills, utility bills, car repairs, or if god forbid they have to buy a car at prices that rival what houses cost 25 years ago… it’s a spiral that has less to do with irresponsibility than it has to do with an economy where the tax burden was shifted to the middle class and the wealth was shifted to the top 2-5%.
Deburca, I think some people’s incomes have been shrinking, but others grew, otherwise the Federal Tax revenue would not have grown. Our earnings grew in the last 7 years before August ‘08. Many people I know had the same experience. My neighbors retrained in a new industry (medical) and are making much more. Although CA has some big problems now due to the state overspending on projects that we couldn’t afford and the collapse of the construction industry, our state’s tax base has shriveled while they continued to pay for programs the state couldn’t afford so we have a $42Billion deficit. Two years ago it was considerably less. There was a raise in state employee paychecks - that increased that deficit. California has tried a plan much like the President’s and failed because we cannot keep up with the debt. I am not saying this to be critical of the president’s plan, I am saying this because I am not sure what the answer is to all of this.
My experience in Cal makes me wary of what the administration is trying to do now. They seem to have a plan to get us out of the deficit by reducing the size of our military even further than Clinton did. If they can cut costs without crippling the military, they may be successful. The military wastes a lot of money and there is plenty of room there for straightening out that problem.
Our sales tax in CA will be going up from 8.25% to 9.25-9.75% on April 1. That will only make people spend even less because they will not be able to afford the increase. If people spend less, less is built, the economy gets worse, less is imported. I just feel that we have painted ourselves into a corner. It started about 30 years ago and it just seems like more bureaucracy on top of expensive bureaucracy.
Same in our small town, restaurants who sold four and five dollar lunches even closed. I just do not understand why you ladies should hide your shopping bags. Think of it, if all Americans stopped shopping how much worse this will get.
If you can afford it then by all means buy the shoes, no guilt needed, you are contributing to the job of the salesman, the store and the shoe company.
We have to start picking up the pieces sometime. Even if we can only buy a pack of gum.
In the meantime also clean your closets and donate to the charities.
Goodwill in our neck of the woods has seen a huge decline in clothing donations. I am sure we all have some extra blouses, skirts and dresses which we no longer use. While you are there depositing your goodies look around and you may find something you needed today.
Jeannot, I always have an on-going donation box because Big Brother/Big Sister and Vietnam Vets come to pick up donations frequently - I find their willingness to pick up my stuff to be such an inspiration! I also have a box of goodies to bring to the consignment shop when spring/summer consigning begins.
I had hoped to re-do my bedroom this spring with new linens, curtains and wallpaper border - it’s pretty sad when even my husband notices what we have now is looking dull. I plan to keep alert for some good deals.
How is the studio project going? Any exciting new ‘finds’?
Oh Green Tears, I am so angry, I am mostly sleeping.
Have a bug for 2 weeks now, not getting any better.
It is viral. Have not done a thing. Good luck with the bedroom. Back to sleeping…………….
Here, we have seen a lot of job layoffs. But already, some people are being called back. The stimulus package has the potential to help us even more. The school part has a fund for food cooking equipment, which is what my employer makes and sells. We are very big in schools for the efficiency and environmental friendliness of our product, and the high nutrition content and high yield of the food that comes out of it, so even I am being pressed to help call the eligible school districts to make sure that they know the fund is out there and how to tap it. I’ve been told that we didn’t get hit as hard as many other areas; home values here were never that inflated, so they didn’t have far to fall. The biggest impact, and it’s been a good one, is how gasoline prices have dropped since the election. We have pinched our pennies for many years now, so it’s nothing new to us. I’m just looking forward to a brighter future!
JJB, I got lunch a few times at Starwich, and while it was a pleasant joint, it wasn’t unique or extraordinary enough to withstand the competition.
If you need Green and Black chocolate, you need to visit the Food Emporium on 3rd Ave. and 68th St. which actually has the best chocolate department in Manhattan, on the ground floor. Not only do they carry Green and Black, but they also carry Amadei, Pralus, Scharffen Berger, among many other brands.
Also, for vegetables, Agata & Valentina and Citarella are more reliable and carry a bigger variety than Food Emporium.
I find it hard to have alot of sympathy that she no longer has a source for her hard to get items. My sympathy goes out to the owners of those businesses and their employees!
Since the unemployment rate is 12.2% in my area with many selfemployed not even calculated into that percentage…many here would be happy to have groceries much less special chocolate.