September 2, 2009

Recession: It Hurts Cocaine Dealers

I found the below article from New York Magazine extremely interesting, so I thought I'd share it. I'm interested in what my cocaine-sniffing readers' thoughts are:

Before condos in Williamsburg started selling at a loss and weekend flights to L.A. dropped to under $200, New York's cocaine dealers were supplying good times to people who indulged like the party wouldn't end. Before the recession, "I was making deliveries every night of the week," says Eddie, a middle-aged man who exclusively deals cocaine. (All names have been changed.) At the height of his career, in early 2008, Eddie sold eight-balls to hipsters, financiers, and Upper West Side high-school students. "Back then, I could afford to pick and choose. If I didn't know the address — forget it. If I didn't like their accent — forget it. On most nights, there were more people wanting than I could get to." Sammy, another coke dealer, was equally aloof. "On weekends, I was making twenty house calls per night," he says, "And there were always 20 to 25 that got shafted."

Then the stock market crashed, and people started losing Sammy’s number. But he didn’t lose theirs. "It was a 646 number," says Nate, 26, who works at an investment bank; he got three calls from Sammy in one week. (Sammy's contacts — five years' worth — are stored in a small black notebook with cross streets, physical descriptors, and even sketches corresponding to each name.) When Nate called back, Sammy picked up right away: "He was like, Hey Nate, it's me, Sammy, where ya been?" Last November, Nate was forced to switch jobs, and took a notable pay cut. "It's not all fun and games anymore. I told him thanks but no thanks."

Read the rest of the article here