Comstock Partners, Inc.August 07, 2009
According to the White House today the recession is over!!!
According to the White House today the recession is over!!! Generally, when corporations want to determine consumers' desires or support for a product they conduct focus groups, which are ultimately skewed by the setting. We've found simple surveys standing in the grocery store with a cart just asking a shopper gives a much better response. Metrics are the new word for figuring out a trend. Here's three: 1. Registering a vehicle is always a horror show. Lines, wait forever, packed waiting area, and have to return. I visited our MVD a couple of weeks ago. I was the only customer. Half the windows (staff) were empty. I was there 30 minutes and never saw another customer. 2. The post office is laying off people. That used to be a lifetime job. 3. We acquire claims and assets from the bankruptcy courts. Now, of course, filings are way up. But the debtors are substantially different. We're seeing well educated, master degrees, blown through their 401 ks, investment accounts, and are totally upside down. Until now- always the trustee would encounter a debtor with assets (it's how they earn a living) now there is nothing but no asset cases and everyone trying to discharge personal guarantees.
Great report. Debt never sleeps. It quietly ticks away with that interest meter running. There are so many "investors" out there with multiple properties just trying to keep current. Unwinding all that is going to be very unpleasant, and, most have lived way beyond their means. Keep up the great work.