Intersection of 6th and Pike Immune to Recession

A group of Seattle business leaders and local economists released a report today declaring that the intersection of 6th Avenue and Pike Street is definitely, positively, absolutely immune to a recession.

“It has become apparent that Washington State, Greater Puget Sound, the city of Seattle, and even downtown Seattle are not immune to a recession,” the report said, “however, we are confident that the encroaching recession will not affect the intersection of 6th and Pike.”

Anchored by the economic powerhouses of Niketown and American Eagle Outfitters, economists are certain that 6th and Pike will easily avoid the increasing unemployment, stagnant wages, and business failures that have plagued the nation in recent months.

“The economy of 6th and Pike continues to defy the nationwide trend toward recession,” said the report.

Strong economic growth of 2003-2007 has shifted into reverse across the rest of the state and has even breached the stronghold of the greater Seattle area, also once thought to be immune. However, 6th and Pike bucks the trend, with strong growth projected to continue throughout 2008, 2009, and beyond.

“6th and Pike is uniquely positioned to avoid a recession,” said local economist Dick Conway, who contributed to the report. “Nowhere else in the world is conveniently located so close to the convention center, Pike Place Market, and downtown malls while also being a safe distance away from the cesspools of Belltown and Pioneer Square.”

Other portions of Seattle have experienced layoffs and cutbacks, with major employers such as Washington Mutual and Amgen feeling the pain of the impending recession.

“That is not happening at 6th and Pike to any degree whatsoever,” according to the report. “We’re not really seeing any fallout here, nor will we. Ever.”

Although every geographic region in the nation is expected to eventually succumb to recession, local economists agree that due to the combined factors of high desirability and continued demand for the services offered there, 6th and Pike will be able to weather the storm without taking any economic damage.

“At worst, growth at 6th and Pike will slow to a few percent per year,” the report asserted. “But on the whole, the strong fundamentals of this intersection will carry it through these difficult times unscathed.”

About the Author

Björn Maximus
Naked Loon Business Reporter

3 Comments on "Intersection of 6th and Pike Immune to Recession"

  1. This is fine journalism, Mr. Maximus. I think your reporting shows the facts, in this case are irrefutable. One must also keep in mind that the South Lake Union Streetcar or SLUT is just a block away. This will certainly help recession-proof 6th and Pike and may have a halo effect on nearby intersections. Only time will tell.

  2. Bob Snakely | June 26, 2008 at 3:45 am |

    Well, this particular street corner has the obligatory African-American young man selling what appears to be something in small plastic bags to cars that continually stop and hand the young person money. This goes on day and night giving one the very positive impression that trade and commerce at this street corner are doing well. As our mayor puts it so well, Seattle is known all over the nation as a “work free, drug place” and this can be no exception for those proud liberal residents of the our Emerald City.
    I find it hard to believe that the local police department struggles with this capitalistic concept by trying to find ways around something called “probable cause” in order to try and racially harass these young men.
    I also point out that the holes in the nearby buildings were undoubtedly caused by frustrated members of ‘youth clubs’ that roam the area looking for ways to support the 2nd Amendment to the Constitution by having local ‘targets’ to use for ‘target practice’. Bullets missing but fired in this area have made their way to Harborview.

  3. Right at this intersection, I one day saw a sidewalk musician playing improvised drums, while asking for donations. Heck, I even gave him a dollar, it was good music.

    Only after reading this aticle, however, did I realize that the artist was probably running away from a lack of professional opportunity in other parts of the nation, such as nigh clubs in Kirkland, which certainly already fell victim to recession and are replacing local bands with ambient stereos.

    Eye opening article indeed!

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