Stock Market

Forever 21 Stock Market Symbol – The Invisible Symbol in New York's Skyline

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Forever 21 Stock Market Symbol – 5 Tips

In midtown Manhattan, a half-built skyscraper called the Metropolitan Life North Building was originally designed to be the tallest building in the world. The onset of the Great Depression, however, forced the design to be cut off midway, creating a lasting symbol of economic hubris.

As the global economy sputters in the wake of the coronavirus pandemic, some economists are looking again to city skylines for clues to the future. But skeptics argue that the so-called skyscraper curse, which holds that big buildings spell big financial trouble, is at best fanciful.

Video by Raymond Schillinger

Sources:

Thornton, Mark, Skyscrapers and Business Cycles (May 31, 2012):
https://ssrn.com/abstract=2071293

Barr, Jason and Mizrach, Bruce and Mundra, Kusum, Skyscraper Height and the Business Cycle: Separating Myth from Reality (July 1, 2014):
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1970059

Willis, Carol, Form Follows Finance (1995):
https://books.google.com/books?id=8ITT7GXSQnIC&printsec=frontcover#v=onepage&q&f=false

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49 Comments
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49 Comments

  1. Flexican
    July 29, 2021 at 8:49 am

    Therefore, do not build any new skyscrapers ever, economy will never go down ever 😎😲🕶🤏

  2. Ric Phillips
    July 29, 2021 at 8:49 am

    Why is everyone suddenly saying “advancements”? Instead of “advances”?

  3. Salahodin Dimaporo
    July 29, 2021 at 8:49 am

    They might correlate covid-19 to this. (We are in Global economic crisis)

  4. Itsatrap
    July 29, 2021 at 8:49 am

    You don't need to believe in magic and curses to understand why financial crashes happen, just listen to Richard Wolf or read Karl Marx.

  5. Javier T
    July 29, 2021 at 8:49 am

    Stupid

  6. Diego Grossman
    July 29, 2021 at 8:49 am

    imo they should complete it according to its original design

  7. Papa Gato
    July 29, 2021 at 8:49 am

    They still building skyscrapers well make some room .

  8. Dominick Adam skinner
    July 29, 2021 at 8:49 am

    None of this makes sense.
    Planning alone would have had to begin before the crash.

    Correlation is not causation.
    Why even spread this sh*t?

  9. xxdesertstorm
    July 29, 2021 at 8:49 am

    that guy can't be more wrong about Detroit skyline or clueless as to why they did

  10. flaggboy
    July 29, 2021 at 8:49 am

    No, I think the Twin Towers are missing from the skyline. I'm serious, these buildings were what Manhattan made so beautiful.

  11. Maneo Chaotix
    July 29, 2021 at 8:49 am

    I mean it is an interesting correlation. It's not useful as a predictor but it provides an artful metaphor that may have some real significance.

    Very very simply, most economic downturns are a hangover from a period of overspending money we (collectively) don't really have. That's also what happens when people start trying to build the tallest building in the world.

    During good times, building a skyscraper seems like free money. You need to spend some cash up front, but as soon as a the building is done, it will start to pay for itself. The bigger the building, the more free money you seem to get, because demand is seemingly unlimited.

    But then you take things a little too far. You build the biggest building in the world. But there's a reason no one has ever built a building that big before — because the demand just isn't there yet. Suddenly, that "free money" is a loss; perhaps a loss of money that you didn't even actually have. The thing you built isn't worth anywhere near what it was supposed to be and you face financial collapse.

    That's basically what happens in some way at a wide scale when a recession hits in the middle of what seemed to be great times. It would not be surprising to find a correlation between people going big and risky on skyscrapers right around the same time that the economy is going big and risky on other things that will trigger a massive correction to the economy.

  12. KennyTheKid
    July 29, 2021 at 8:49 am

    I thought this was going to be about the Twin Towers

  13. Don Adamsky
    July 29, 2021 at 8:49 am

    the post scyscraper era will be something else.

  14. Giant Joe
    July 29, 2021 at 8:49 am

    Yes, let’s put all the innovations and investments of the last 150 years in the toilet because we have been told we now have to ‘distance’. Insane.

  15. M Munye
    July 29, 2021 at 8:49 am

    China builds theirs in 19 days

  16. George Newham
    July 29, 2021 at 8:49 am

    this is such a dumb video

  17. Known
    July 29, 2021 at 8:49 am

    I will never reconize the petronas towers as taller than the world trade center or Willis tower.

  18. Zubaida Kablan
    July 29, 2021 at 8:49 am

    Visiting you sooner.

  19. united states of fugu
    July 29, 2021 at 8:49 am

    what a dumb video:D

  20. Link The Fox
    July 29, 2021 at 8:49 am

    so we'll forget about iconic skyscrapers in Europe then London just doesn't exist with the skyscraper index plenty of skyscrapers in London didn't cause any economic downfalls, for example, queen mary's axe was built after an economic crisis in the 80s and didn't cause any more the shard was built in 2013 and didn't cause any economic crisis despite being the tallest skyscraper in Europe so Mr potato heads full of shit

  21. Eggy Media
    July 29, 2021 at 8:49 am

    It just looks like a sad stubby skyscraper wannabe.

  22. Jonathan Bowers
    July 29, 2021 at 8:49 am

    Skyscraper booms are usually signs of economic bubbles so i buy this hypothesis

  23. EqualsThreeable
    July 29, 2021 at 8:49 am

    This should be obvious to everyone. Recession take place every 10-15 years. Buildings take years to construct. The chances any one large building will be constructed during an economic downturn is inevitable. It’s not like these projects all started right as an economic collapse occurred, some started during, some started on the tail end and some started right after said crisis ended.

  24. Robert Coates
    July 29, 2021 at 8:49 am

    Byproduct of economic hubris. When there is a lot of uncommitted cash and low interest rates, corporations will spend money extravagantly by constructing huge, flashy buildings. Those same conditions inevitably lead to economic collapse a few years later.

  25. Droptimistic
    July 29, 2021 at 8:49 am

    That was dumb, at least to me it seemed kind of obvious that skyscrapers are build in times were the economy peaks. And what goes up, must some down. Correlation not causation,

  26. Mazarev
    July 29, 2021 at 8:49 am

    ehm guys there are 2 more buildings missing

  27. Jordan Hamann
    July 29, 2021 at 8:49 am

    Honestly, I now want to see that skyscraper completed.

  28. Diana Arias
    July 29, 2021 at 8:49 am

    I knew about it!!!

  29. Red Hiding Hood
    July 29, 2021 at 8:49 am

    The skyscraper index is such a joke

  30. Toti Fernandez
    July 29, 2021 at 8:49 am

    Those super stick skyscrapers will be a massive maintenance and operational expense for their owners from Day 1. They make sense only in a Goldilocks economy.

  31. Jose Morales
    July 29, 2021 at 8:49 am

    Meanwhile, this video missed an opportunity to highlight a lost architectural gem in that very area. The original Madison Square Garden, designed by Stanford White. Hell, Mr. White was murdered on the roof of his own creation! Look it up…🇵🇷🇺🇸😎

  32. Patrick Sanders
    July 29, 2021 at 8:49 am

    Dont forget that the schmuck thinks he created skyscrapers!

  33. FrostmourneFK
    July 29, 2021 at 8:49 am

    Econonomic dips always happen after an economic peak, right? Someone needs to do their homework.

  34. history buff03
    July 29, 2021 at 8:49 am

    The problem with this "reasoning" is that the builders of these skyscrapers did not know that an economic downturn was coming.

  35. Sub Zero
    July 29, 2021 at 8:49 am

    This is how the left does math.

  36. Dan_ Simba
    July 29, 2021 at 8:49 am

    People saying that the skyscraper index is dumb, makes sense to me. It indicates the pinnacle of bullish optimism in an economy. It's not as accurate but you can't deny it. So stupid to deny it.

  37. andy big boy
    July 29, 2021 at 8:49 am

    My father works at this building and told me about it many times how it was supposed to be the tallest building in the world.

  38. July 29, 2021 at 8:49 am

    NYC is going bust again with all those slim skyscrapers popping up

  39. N S
    July 29, 2021 at 8:49 am

    That was some pseudo graph. Come on Bloomberg

  40. Pugswillfly
    July 29, 2021 at 8:49 am

    If only the B1M covered this instead.

  41. Abcflc
    July 29, 2021 at 8:49 am

    Can we talk about the newer buildings in New York? these skinny glass monstrosities will never be charming or loved like the older styles.

  42. Caio Dollis
    July 29, 2021 at 8:49 am

    Is this a joke? Why do you give attention to such a dumb theory

  43. Jonah Fischer
    July 29, 2021 at 8:49 am

    They forgot to mention the Cn tower which was tallest building in the world and still in North America

  44. Drew Zalamea
    July 29, 2021 at 8:49 am

    LOL!!!! Can you please produce content with more logic and substance rather than this laughable curse.

  45. Gevixel
    July 29, 2021 at 8:49 am

    2005: 80 South Street, New York, New York has joined the chat
    2008: lol gtfo
    80 South Street has been kicked

    2014: 80 South Street, New York, New York has joined the chat
    80 South Street: "Can you give me another chance?
    2014: "Maybe later, ebola and shit"
    80 South Street: "Fine"
    80 South Street has left the chat

    2019: 80 South Street, New York, New York, has joined the chat
    80 South Street: "Economy has never been better, New York skyline has never been so lively, how about now"
    2019: "Yes, but it's time for you to meet my brother, 2020"
    2020: "Hello"
    80 South Street has been banned

  46. Andrew Westcott
    July 29, 2021 at 8:49 am

    4:44 – well im glad we have these intellegent people to work these things out for us………

  47. Eparama Ravinatata
    July 29, 2021 at 8:49 am

    Isnt the world going through a recession now. Covid 19!! So is someone building another skyscraper apart from Dubak creek tower.
    Maybe.

  48. Mira Flynn
    July 29, 2021 at 8:49 am

    Of course the skyscraper index can be “ststistically significant”… this is the perfect situation for P-hacking.

  49. X X
    July 29, 2021 at 8:49 am

    the tower of babel