EV Grieve Etc. -- the economy is doomed edition

From an op-ed by in today's Post by Nicole Gelinas, a Manhattan Institute fellow:

Our elected leaders have been making long-term spending commitments as if Wall Street would never slow for more than a year or two. But the industry now faces its worst crisis in decades. The city and state must drastically change their approach -- or this crisis could turn into a longterm disaster.

Also: Gov. Paterson will deliver a grim economic address at 5:10 p.m. today in the state Capitol. The speech will be broadcast live on NY1.

Will need to buy the right outfit for this!

The Gov. has grim news: get ready for the worst economy in decades

According to today's Post anyway:

Gov. Paterson, convinced the state faces its worst fiscal crisis since the mid-1970s, will deliver the grim news in an unprecedented special address to New Yorkers as soon as tomorrow night, The Post has learned.
The governor's address - which his aides hope will be televised by public and cable news stations - will say that plunging state revenues will force painful cuts in state services, necessitate a reduction in the state work force, possibly through layoffs, and require other difficult economic measures, source said.

The city's kitty is also doomed as doomed can be. 

Which makes this tie-in so perfect! Let's go out and buy expensive Depression-era clothes!



The duds say it all - and it's depressing.
Taking a cue from the grim economy, this fall's fashions at Banana Republic, Gap and H&M are featuring a distinctly Depression-era trend of cloche hats, pencil skirts, conductor caps and baggy, vintage-style dresses.
One of the most popular styles appears to hark back to the impish, newsboy getup of the 1930s: baggy trousers, caps, pinstriped vests, oxford lace-up shoes and utilitarian handbags.
"We associate the newsboy look with urban poverty - street kids of the 1930s," said Daniel James Cole, a professor at the Fashion Institute of Technology.
"Given that we're in an unstable economy and an uncertain political landscape, it's possible that a retro style has come back as a way to connect with our heritage."

Now. Let's seize the day!