Will New York Return To The Bad Ol’ Days?

Chaim Amalek emails: New Yorkers are always looking for signs of returns to the bad old days. In its favor is the demographic transformation wrought by the last few decades, a transformation from criminals to law abiding people that will not soon be reversed. It took decades for the city to fall from grace from the fifties to the eighties, and I think that would be true now. Now, if there is a LONG term reversal of fortune of the type that returns the financial services industry to where it should be, and we have ten years of solid decline, all bets will be off. That’s not to say crime won’t come back a ways, but then again, NY has so little violent crime for a city its size (KNOCK ON WOOD) that it cannot help but go up.