What's going on here? Big luxury condos are being turned into rentals because the owners can't find any buyers. Commercial real estate is in gotham is in the pits. Store closings are up all over. Yet, the happy news from our corporate media is crowing that the "Great Recession" is over and happy days are here again? Below are some pix of recent store closings in the city.

The recession and store closings on West 8th St. in the Village

Recovery-What Recovery?

For several weeks now we've been getting happy news from our corporate-controlled media that we are coming out of the worst economic recession in history. We're in economic recovery they say. The news shows issue government stats that indicate instead of losing 500,000 jobs a month we are now shedding 200,000. Wow! Unemployment is about to hit 10% (It's at 9% in New York City) and a part-time job is the best you can do if you"re lucky enough to find a job at all. A headline in the September 2nd edition of Women's Wear Daily reports that "shop lifting is soaring" at a lot of clothing stores. Another fun fact of this so-called recovery is the closing of many retail stores in our area. But Wall Street has been having a swell time recently, right? Well that was a week ago. Lately stocks have been kind of flat or like today-down. I just don't think we're out of the woods yet folks. My advice is to not unbuckle your seat belt just yet. It might be another steep drop ahead on this roller coaster.