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Like a good portion of the northeast, NYC is kept alive by the financial industry. Between technological changes, regulatory changes, and disintermediation, Wall St in 10 years will likely be a fraction of its current size -- both in terms of employment and revenue. And if it hadn't been for TARP, NYC's fiscal situation would have imploded anyway. NYC's other most recognizable industries -- namely, media and publishing -- are done. They're already bleeding money and the writing is on the wall.
Funny that the "biggest and brightest" city still has an economy stuck in the 1980's. For all the talk of corporate HQ's, I suspect many will either relocate or end up being taxpayer subsidized (if they're not already industries that will go extinct). And for all the smart Ivy league kids, funny how NYC's entrepreneurial/startup scene is nonexistent.
NYC is basically kept afloat by 5-10% of the tax base, which is overwhelmingly employed in finance. If they go -- and they likely will -- then the city goes. The city ends up being a port city + a tourist spot, and little else.
Odd how so many NYers have memories that only go back to the 1994. Before that, the city was another dying NE city.
But...but...but...we got Pizza! And Tim Robbins!
Get real. No one who has a clue identifies themselves with a city anyway.
NYC is part of a country where one city exist for the other. New York provides tourists which creates profits which get invested into stocks in the NYSE which NYC benefits from. NYC would not exist if it weren't for Philly. DC is one legislative change from destroying NYC. The film industry headquarters would not exist if it weren't for the studios in LA etc. etc. NYC has influence over others but its a joint collaboration not a one-sided domination.
Like a good portion of the northeast, NYC is kept alive by the financial industry. Between technological changes, regulatory changes, and disintermediation, Wall St in 10 years will likely be a fraction of its current size -- both in terms of employment and revenue. And if it hadn't been for TARP, NYC fiscal situation would have imploded anyway. NYC's other most recognizable industries -- namely, media and publishing -- are done. They're already bleeding money and the writing is on the wall.
Funny that the "biggest and brightest" city still has an economy stuck in the 1980's. For all the talk of corporate HQ's, I suspect many will either relocate or end up being taxpayer subsidized (if they're not already industries that will go extinct). And for all the smart Ivy league kids, funny how NYC's entrepreneurial/startup scene is nonexistent.
NYC is basically kept afloat by 5-10% of the tax base, which is overwhelmingly employed in finance. If they go -- and they likely will -- then the city goes. The city ends up being a port city + a tourist spot, and little else.
Odd how so many NYers have memories that only go back to the 1994. Before that, the city was another dying NE city.
But...but...but...we got Pizza! And Tim Robbins!
Get real. No one who has a clue identifies themselves with a city anyway.
And fashion?
And the UN headquarters?
And 19 million people in the metro area who are not going to all of a sudden dissappear?
You could say the same thing about any city in the world - LA would be nothing without Hollywood. Hong Kong would be nothing without finance. London without finance. Paris without fashion. Every city is multi-faceted. And furthermore, to even consider the notion that all those in finance in NYC would suddenly leave, thereby making NYC nothing more than a port city, is just silly. Not to mention, if that would happen, the world as we know it would be in chaos.
Last edited by giantsfan11490; 08-17-2011 at 09:08 AM..
1. Create a law that only allows international markets to only be traded in Chicago.
2. Make it illegal to charge tax on non-New York residents. (which I really think is some BS by the way) That would serious hurt the city's income.
DC makes laws. They get funded by corporations and they can request changes through lobbying but they cannot demand anything. I'm pretty sure this was brought up in another thread that went on and on. It can be debated, but thats the way that I see it.
1. Create a law that only allows international markets to only be traded in Chicago.
2. Make it illegal to charge tax on non-New York residents. (which I really think is some BS by the way) That would serious hurt the city's income.
DC makes laws. They get funded by corporations and they can request changes through lobbying but they cannot demand anything. I'm pretty sure this was brought up in another thread that went on and on. It can be debated, but thats the way that I see it.
Perhaps, but the post was incorrect. Considering that NY is 30th in land size, while FL is 22nd, it is remarkable that NY has held so many people for so long. Especially given that many people have left for other states(some have come back too).
Even if Upstate NY became it's own state, it is already on par with NC now in terms of economy and would be about 12th in population.
I was going to be ignorant and say that NY State had so many people b/c of NYC but that's not the reason b/c only 9 million people live in the NY State area of NYC. It is surprising that NY has stayed at that position though,
Nope, doesn't even begin to make sense at all. This thread should not exist it is just an excuse for people to hate on NYC but that's nothing new.
New York doesn't need to go back to being the biggest at something it moved beyond, like ports and manufacturing. That's part of the bragging rights, and why New York exercise such outward influence. It is the capital of finance and of corporate america itself. When ports get used, when hotels get built, when Orlando expands, New York is behind the money and the power that makes it possible, and New York provides an oversize share of the tourists that keep the place profitable.
If any state should be thankful to New York, it's Florida.
No, sir. This is not the first time I have explained this to you but I'll do it again...this thread is not to bash NY...don't get so touchy. This thread is to examine New York's superiority complex by examining what topics NY is not the best at. It's insulting when misinformed people jump on this site and make ridiculous statements about NY being the best at everything. No on has said anything negative about NY. I never said NY sucks! It is only being said that NY is not the best at everything. If this statement offends you then I suggest you get off the city vs city section of this site because unfortunately not everyone shares your opinion. The only time insulting comments were used on this thread were by people defending NY, calling myself as well as others names and making racist comments. So before you go crying about how we are "bashing" NY, consider that your teammates are the ones making unnecessary comments. Grow up, dude
And capital of finance? Yeah because this country's economy and finances are doing so well. Thank you, NY!
And Florida hates NY. All of Florida's culture and uniqueness is being destroyed by NY!
Now you are blaming NYC for D.C.'s incompetence and China's dishonesty? Somehow you think an economic recovery won't involve Wall Street? Delusions.
If this thread was titled 'Things NY is not the best at' that would be one thing, but instead it's just troll bait.
Quote:
Originally Posted by lgonzalez12
No, sir. This is not the first time I have explained this to you but I'll do it again...this thread is not to bash NY...don't get so touchy. This thread is to examine New York's superiority complex by examining what topics NY is not the best at. It's insulting when misinformed people jump on this site and make ridiculous statements about NY being the best at everything. No on has said anything negative about NY. I never said NY sucks! It is only being said that NY is not the best at everything. If this statement offends you then I suggest you get off the city vs city section of this site because unfortunately not everyone shares your opinion. The only time insulting comments were used on this thread were by people defending NY, calling myself as well as others names and making racist comments. So before you go crying about how we are "bashing" NY, consider that your teammates are the ones making unnecessary comments. Grow up, dude
And capital of finance? Yeah because this country's economy and finances are doing so well. Thank you, NY!
And Florida hates NY. All of Florida's culture and uniqueness is being destroyed by NY!
Sooo can we all agree that NYC is also the #1 city americans love to hate?
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