[davelj]

In a metropolitan area as large and diverse as San Diego’s, the human eye is not going to pick up a recession looking at parking lots and restaurant crowds. Remember that in a recession unemployment might increase by 2-4 percentage points. You’re not going to “see” that. The economy might decline by a couple of percentage points per year. You’re not going to “see” that. But a business that has a 5% net profit margin and sees sales decline by 5% is going to “feel” that big time because their costs probably increased despite the decline in sales. As I often like to repeat here, “Everything important in economics happens ‘at the margin’.” The “margin” is not typically visible to the naked eye in terms of crowds, etc. But it shows up in the reported numbers, whether tax rolls, profits, etc.

One area that the naked eye does “see” the recession is in housing. The foreclosure signs, closed up mortgage/real estate offices, etc. are visible. That’s unusual. And it shows you just how bad things are eventually going to be.

[davelj]

In a metropolitan area as large and diverse as San Diego’s, the human eye is not going to pick up a recession looking at parking lots and restaurant crowds. Remember that in a recession unemployment might increase by 2-4 percentage points. You’re not going to “see” that. The economy might decline by a couple of percentage points per year. You’re not going to “see” that. But a business that has a 5% net profit margin and sees sales decline by 5% is going to “feel” that big time because their costs probably increased despite the decline in sales. As I often like to repeat here, “Everything important in economics happens ‘at the margin’.” The “margin” is not typically visible to the naked eye in terms of crowds, etc. But it shows up in the reported numbers, whether tax rolls, profits, etc.

One area that the naked eye does “see” the recession is in housing. The foreclosure signs, closed up mortgage/real estate offices, etc. are visible. That’s unusual. And it shows you just how bad things are eventually going to be.

[davelj]

In a metropolitan area as large and diverse as San Diego’s, the human eye is not going to pick up a recession looking at parking lots and restaurant crowds. Remember that in a recession unemployment might increase by 2-4 percentage points. You’re not going to “see” that. The economy might decline by a couple of percentage points per year. You’re not going to “see” that. But a business that has a 5% net profit margin and sees sales decline by 5% is going to “feel” that big time because their costs probably increased despite the decline in sales. As I often like to repeat here, “Everything important in economics happens ‘at the margin’.” The “margin” is not typically visible to the naked eye in terms of crowds, etc. But it shows up in the reported numbers, whether tax rolls, profits, etc.

One area that the naked eye does “see” the recession is in housing. The foreclosure signs, closed up mortgage/real estate offices, etc. are visible. That’s unusual. And it shows you just how bad things are eventually going to be.

[davelj]

In a metropolitan area as large and diverse as San Diego’s, the human eye is not going to pick up a recession looking at parking lots and restaurant crowds. Remember that in a recession unemployment might increase by 2-4 percentage points. You’re not going to “see” that. The economy might decline by a couple of percentage points per year. You’re not going to “see” that. But a business that has a 5% net profit margin and sees sales decline by 5% is going to “feel” that big time because their costs probably increased despite the decline in sales. As I often like to repeat here, “Everything important in economics happens ‘at the margin’.” The “margin” is not typically visible to the naked eye in terms of crowds, etc. But it shows up in the reported numbers, whether tax rolls, profits, etc.

One area that the naked eye does “see” the recession is in housing. The foreclosure signs, closed up mortgage/real estate offices, etc. are visible. That’s unusual. And it shows you just how bad things are eventually going to be.

[davelj]

Yup, we’re on track for between 15,000 and 20,000 trustee deeds in San Diego County this year, thereby roughly tripling (!) the 1990’s high of 5,994 set in 1996. Let’s see… 15,000 to 20,000 trustee deeds… compared to maybe 20,000 – 25,000 total sales in the county for 2008… oh my… that’s gonna leave a mark.

[davelj]

Yup, we’re on track for between 15,000 and 20,000 trustee deeds in San Diego County this year, thereby roughly tripling (!) the 1990’s high of 5,994 set in 1996. Let’s see… 15,000 to 20,000 trustee deeds… compared to maybe 20,000 – 25,000 total sales in the county for 2008… oh my… that’s gonna leave a mark.

[davelj]

Yup, we’re on track for between 15,000 and 20,000 trustee deeds in San Diego County this year, thereby roughly tripling (!) the 1990’s high of 5,994 set in 1996. Let’s see… 15,000 to 20,000 trustee deeds… compared to maybe 20,000 – 25,000 total sales in the county for 2008… oh my… that’s gonna leave a mark.

[davelj]

Yup, we’re on track for between 15,000 and 20,000 trustee deeds in San Diego County this year, thereby roughly tripling (!) the 1990’s high of 5,994 set in 1996. Let’s see… 15,000 to 20,000 trustee deeds… compared to maybe 20,000 – 25,000 total sales in the county for 2008… oh my… that’s gonna leave a mark.

[davelj]

Yup, we’re on track for between 15,000 and 20,000 trustee deeds in San Diego County this year, thereby roughly tripling (!) the 1990’s high of 5,994 set in 1996. Let’s see… 15,000 to 20,000 trustee deeds… compared to maybe 20,000 – 25,000 total sales in the county for 2008… oh my… that’s gonna leave a mark.

[davelj]

I ain’t no tree huggin’ environmentalist, but…

… SUVs are a symptom of the real environmental problem (if you want to call it that), which is humans, as I’ve pointed out previously. If every couple on Earth limited themselves to one child, the population of our planet would drop to roughly 1.5 billion over the next century (according to Alan Weisman’s book “The World Without Us”). There would cease to be an environmental problem, even in the absence of new technologies.

I drive an SUV. I’m not having any children (which has nothing to do with wanting to save the environment). Net/net I’m one of the most unintentionally positive forces for the environment going.

Join me, won’t you? Or don’t. I could care less, actually. Just don’t drive a Prius and have more than one child while thinking you’re an environmentalist. That would be hypocritical. Like Al Gore.

[davelj]

I ain’t no tree huggin’ environmentalist, but…

… SUVs are a symptom of the real environmental problem (if you want to call it that), which is humans, as I’ve pointed out previously. If every couple on Earth limited themselves to one child, the population of our planet would drop to roughly 1.5 billion over the next century (according to Alan Weisman’s book “The World Without Us”). There would cease to be an environmental problem, even in the absence of new technologies.

I drive an SUV. I’m not having any children (which has nothing to do with wanting to save the environment). Net/net I’m one of the most unintentionally positive forces for the environment going.

Join me, won’t you? Or don’t. I could care less, actually. Just don’t drive a Prius and have more than one child while thinking you’re an environmentalist. That would be hypocritical. Like Al Gore.

[davelj]

I ain’t no tree huggin’ environmentalist, but…

… SUVs are a symptom of the real environmental problem (if you want to call it that), which is humans, as I’ve pointed out previously. If every couple on Earth limited themselves to one child, the population of our planet would drop to roughly 1.5 billion over the next century (according to Alan Weisman’s book “The World Without Us”). There would cease to be an environmental problem, even in the absence of new technologies.

I drive an SUV. I’m not having any children (which has nothing to do with wanting to save the environment). Net/net I’m one of the most unintentionally positive forces for the environment going.

Join me, won’t you? Or don’t. I could care less, actually. Just don’t drive a Prius and have more than one child while thinking you’re an environmentalist. That would be hypocritical. Like Al Gore.

[davelj]

I ain’t no tree huggin’ environmentalist, but…

… SUVs are a symptom of the real environmental problem (if you want to call it that), which is humans, as I’ve pointed out previously. If every couple on Earth limited themselves to one child, the population of our planet would drop to roughly 1.5 billion over the next century (according to Alan Weisman’s book “The World Without Us”). There would cease to be an environmental problem, even in the absence of new technologies.

I drive an SUV. I’m not having any children (which has nothing to do with wanting to save the environment). Net/net I’m one of the most unintentionally positive forces for the environment going.

Join me, won’t you? Or don’t. I could care less, actually. Just don’t drive a Prius and have more than one child while thinking you’re an environmentalist. That would be hypocritical. Like Al Gore.

[davelj]

I ain’t no tree huggin’ environmentalist, but…

… SUVs are a symptom of the real environmental problem (if you want to call it that), which is humans, as I’ve pointed out previously. If every couple on Earth limited themselves to one child, the population of our planet would drop to roughly 1.5 billion over the next century (according to Alan Weisman’s book “The World Without Us”). There would cease to be an environmental problem, even in the absence of new technologies.

I drive an SUV. I’m not having any children (which has nothing to do with wanting to save the environment). Net/net I’m one of the most unintentionally positive forces for the environment going.

Join me, won’t you? Or don’t. I could care less, actually. Just don’t drive a Prius and have more than one child while thinking you’re an environmentalist. That would be hypocritical. Like Al Gore.

[davelj]

stp,

One of the two banks is here in San Diego. I’d be happy to email you the name of that bank if you’ll post an email address. I won’t, however, post the name of the bank on this board because, among other reasons, I want to retain my anonymity.

[Author]

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