The Index declined as follows:
New York City - 4.1% annualized decline for April, following a 5.2% decrease in March
New York State - 8.1% annualized decline for April, following an identical decrease in March.
New Jersey - 6.5% annualized decline for April, following a 6.6% decline in March.
When will Patterson follow in Arnie's footsteps and declare a state of emergency for NY, which can only be repaired with a massive taxpayer-subsidized bailout... Then again selling the general public that evil, Wall Street, and hedge-fund infused New York would need a wholesale bail out, may be a tad more difficult.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgJ8CNUFKW5vp52NSeHcvjKMe3IEEFVoei6M9j_kOQGv_zGn8Ni8mAjO2u4bvmA_ftaNqpMeKw9_BZI6KppQ9UTizMNz9NdLJaVQJ1rqt_q231zR2Oqw-iLrmiRZ4OvB8p54OxV4wsN8yA/s400/NY+FED+CEI+5.27.09.jpg)
A discussion of just what the CEI measures is provided below.
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