Despite taboo words-of-late like “economy,” and “bailout,” student residents of the East Village have found that their spending has changed very little. Even with the upcoming election, few suspect that that will change. The East Village is an affluent neighborhood. Most students that live in the area either live in the New York University dorms or in parent-provided apartments. Sameer Patel, 20, a resident of St. Marks Place thanks to his parents says, “My spending hasn’t changed. But it ought to. My credit card bill has been astronomical.”
For other students, they say that while their spending has not changed, they have become more aware of what they are spending. Hila Raz, 21, lives on East 6th Street and First Avenue. “I feel that I am more cognizant of my spending now because soon I will be supporting myself,” says Raz. “I think, ‘Do I need that?’ when I shop.” East Village shopkeepers, because of their location and clientele, have not experienced as severe a decline in customers as other locations. “I have not seen much of a change in my business,” says Martin Gooding, owner of the boutique, Meg, on East 9th Street. “I see more uncertainty, though. People don’t know if they can spend those last $2.”
One barista at coffee shop, Mud Café says, “80 percent of our clients are regulars. New York City is the last place to feel the hit of the economy.” Although Mud Café has had to raise the price of coffee 25 cents, sales keep going up. One thing is certain. Shopkeepers and students alike are hoping for Obama. “When Obama wins,” says Patel, “I will be less nervous about spending.”
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It's interesting to listen to the colored opinions of NYU students on the state of the economy. We can be divided roughly into three groups of people: those who are supported by parents, those who support themselves, and the "little bit of both." I think people have the right idea when they are thinking that everyone should be spending less in general, not just because of the economy, but as a way to counter-act waste. It's the impression of many that Americans are gluttonous and we can't do anything unless we do it in excess, and it doesn't need to be that way. In that way, "cognizance" is good and even necessary. Awareness is the first little step in healing everything that has happened.
On the other hand, and I think you address this nicely, the recession is almost outside of our minds, in a world far far away. We don't necessary understand it or its ramifications, and just spout out the usual cliche' responses- "I'm never going to be able to find a job" or "life's like this because the economy sucks." While we complain about it, we don't really do anything to improve it, and in a sense how could we? Many students are super-frugal to begin with, the others, who wish to feed themselves decently everyday and not much else, have to go on spending as usual. The ones who can afford what they want will get what they want, regardless of the state of the world. New Yorkers, by the nature of their choice to live in the city, are less economical.
Obama is inheriting a large mess, and the view that he is some kind of panacea for the country's problems may not be the best one. He has a tough battle to face and whatever results we happen to get will not, unfortunately, be immediate.
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