Now that everyone returned on time from a long weekend at the beach lets dip right into the cold cruel world of the 9-5 grind with some hard core observations about our splendid economy.
Having worked as a commercial real estate manager for 31 years, I remain in the loop of many real estate newsletters and publications. These nuggets come to us by way of Bob Bass, a well known Real Estate Attorney in Arizona.
THE TOP 10 INDICATORS THAT THE ECONOMY IS BAD
10. CEO’s are now playing miniature golf.
9. I got a pre-delcined credit card in the mail
8. I went to buy a toaster oven and they gave me a bank
7. Hot wheels and Matchbook cars companies are now trading higher than GM stock
6. McDonalds is selling the quarter ouncer
5. Beverly Hills nannies are learing their children’s names
4. The most highly paid job is now jury duty
3. Motel 6 will not leave the lights on for you
2. The Mafia is laying off judges
And the number one indicator that the economy is bad.…
1. The bank returns your check marked, “insufficient funds” and you have to call them to ask
if they meant yours or theirs?
Feel free to add your own doozies.
Number Eight is my favorite!
Me too Art. It reminds of the S&L days of the late 80’s and early 90’s when the situation was not as bad as this, but similar.
I was a Receiver for the Bankruptcy Court and trying to explain how Plaza Palomino would never pencil out with the loan that it was shackled with at the time. I asked how that happened, as was told that if you walked into a Savings and Loan in those days and asked for 3 million dollars, they would in turn ask you why you did not ask for 6 million! “Because we have it you know?” Ah the beauty of deregulation… many do not see how it redistributes wealth…more of it!
If only the early Labor Day movement considered rotten loans a safety issue! Don’t we know each other from way back in the 20th Century?