Back in June 2009, in one of our earliest posts in the aftermath of the financial crisis, we took a “random walk down Madison Avenue” and found empty storefront after empty storefront after empty storefront.
In retrospect, the ghost town that was New York’s “Golden Mile” was not surprising: after all the US economy had just been hit with the worst recession since the Great Depression, and only an emergency liquidity injection of trillions of dollars prevented a global financial collapse.
