In 1791, Secretary of the Treasury Alexander Hamilton needed to establish an "industrial city" to power the nation's economy. He found the perfect place in northern New Jersey. From: AERIAL AMERICA: New Jersey bit.ly/1GL38ai
Hi, my name is Lisa R. Nyman and I' m originally from Paterson, New Jersey born and raised. I remember the Great Falls, Hinchcliff Stadium, the restaurant right across the street diagonally from the Great Falls and i remember when they use to have the great falls festival. I remember that john F Kennedy wasn't to far from there, neither was the cemetary. Downtown paterson you had jacobs, woolworths, meyerbrothers, Mcdonalds, you also the army and navy recruitment office, the lingera store, city hall, the italian restaurant, legal aid, the banks
Wow. You said “Jacobs”! Would go there as a child. I think the restaurant you’re referring to by the falls is Libby’s! Believe it closed down recently.
+Greg Kors The financialization of the American economy American De-Industrialization Continues Unabated “Hollowing Out” in U.S. Manufacturing American real economy collapse America's economic elite has long argued that the country does not need an industrial base. The economies in states such as California and Michigan that have lost their industrial base, however, belie that claim. Without an industrial base, an increase in consumer spending, which pulled the country out of past recessions, will not put Americans back to work. Without an industrial base, the nation's trade deficit will continue to grow. Without an industrial base, stranded in low-paying service-sector jobs. Without an industrial base, the United States will be increasingly dependent on foreign manufacturers. Wall Street bankers destroyed the real economy of the United States The Financialization of the Economy Hurts Manufacturing Corrupt politicians have become the puppet of the Wall Street bankers. Over the past 35 years, the American ruling class, represented by Democratic as well as Republican governments, has dismantled much of the industrial infrastructure of the country. It has shifted its money-making activities increasingly to parasitic and non-productive forms of financial speculation. The financialization of the US economy-its increasing domination by a handful of Wall Street banks and hedge funds-has been dramatic. In 1980, the financial industry accounted for only 6 percent of corporate profits. Today it accounts for close to 50 percent. As manufacturing was dismantled and economic activity shifted more and more to financial manipulation, the enrichment of the financial-corporate elite was increasingly separated from the creation of real value through the process of production. The TPP would be the final death blow to American manufacturing
actually the old buildings are very interesting and it's city hall is modeled after Lyon's City Hall in France.Paterson SILK city USA Lyon Silk Capital of Europe.
so how did ya get to record over the falls but if a citizen does its a $10000 fine? and why didnt you talk about the doorway u can clearly see by the falls. tartar
Very flattering shots of the city. To be honest the place is a dump. It has and had, like the narrator stated here a ton of potential but really for the most part its a fuckin sewer. I hate to say it but its true. I wonder what Hamilton or G. Washington would think if they witnessed Paterson in the 21st century? I'm sure they would collapse from shock.
@@lisanovak913 They keep up the falls area as good as they can, but even there you can see an absolute sea of garbage and broken glass along the Passaic River. And yeah, some of those buildings are interesting, but if you wander away from the falls area, you’re gonna run into some sketchy individuals. It’s a shame. The Paterson Falls area would be such a tourist area the same way several former industrial areas around NJ and Pennsylvania have become, but it’s such a mess that it wouldn’t be worth the clean up.
