Tuesday, September 23, 2008

Sexondary impact: Wall Street Collapse is end of Sex and the City social foundation

HBO: Sex and the City

Okay what kind of guys do the girls in Sex and the City fuck? Not IT geeks, not doctors who are on call. They fuck Investment Bankers and Stock Brokers and the classes that service them: chefs, actors, writers, artists and designers.The 1990s saw a boom in New York as neo-liberalism resulted in more and more wealth, even public wealth and union wealth flowing in to the investment houses that all no longer exists as investment houses. This resulted in an economic boom of aggressive well dressed males with lots of money, and women who could now both seek men and pursue their own careers though mostly in the service side of it. They could secure work in advertising, law, PR, media, retail and the arts and their incomes could be supplemented by a series of gifts. This was the economic game made so romantic in Sex and the City.Well the pipe has just burst. I found the mas eating at a diner at the end of the movie telling. To survive the franchise will probably best deal with the fact that they no longer are in tune with an event. Perhaps a dream, an aspiration, perhaps Sex and the City will be our version of "We're in the Money".But then it will be old, it will become conservative (beyond what it already is).But the fate of Carrie and her billions is not that important. What is important is the Culture event which has taken place. The 1990s and 2000s for a large group of educated white males and females in places like New York, Chicago, LA, SF, London, and Boston prospered by a mass wash up of money. Real Estate money became the new money. People were paying half their income on mortgages bought at the top of the market in sub prime loans.That has now crashed. Obama and a democratic Congress are unlikely to flood isolated sectors of the economy in the same way. Money instead of going to Investment Houses will likely flow in to Federal mortgage buyout plans, new regulations and oversights will reduce profit taking. A period of more socialism can not really be escaped.And this is precisely what Sex and the City was NOT about. Without the Mr Bigs who make massive sums of money bullying people the entire ecosystem will greatly dry up. The other women will have to move back to hometowns or move out to cheaper residents.

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