Just saw this unconventional “Recession Index” on NY Magazine’s Intelligencer. Some of the more interesting YOY figures:
- # of people spending $2k+ per night @ Marquee: -50% (bottle sales down 10%)
- Average daily late-night subway ridership, midnight to 6 am: +4% (people still fighting for black car vouchers?)
- Average rent for studio apartment in Murray Hill doorman building: -7% (anyone remember the last time rent decreased in NYC?)
- Cost of a standard room at Glassy New Cooper Square Hotel: -35% (also everywhere else, kind of nice for traveling actually)
I wonder what the correlation of these figures and S&P 500 is? Perhaps we need yet another niche ETF…
But apparently “Wall Street” won’t surrender on bonuses despite the meltdown as there will be at least $20b+ to go around this Season.
So, bottle?