Onward Bound Humor

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Monday, November 14, 2005

19. Ten Signs Of The Credit Bubble (2004)

Ten Signs That You're In A Historic Credit Bubble (2004)

10. Your neighbor buys a $40,000 SUV with his home equity line and tells you proudly that, "It's paid for."

9. Your mother-in-law enrolls in community college in order to enhance her lifestyle with student loans.

8. You buy a complete set of living room furniture and you don't have to make a payment for three years.

7. The economy is growing at 7% and the Fed Funds rate is at 1%.

6. Housing inflation in California is growing above 20% and the Fed Funds rate is at 1%.

5. GM makes more money off mortgages than from its core business.

4. You receive enough credit card solicitations to financially engineer a leveraged retirement twenty years early.

3. Your credit union is now offering an 8-year car loan and a 40-year mortgage and is proudly growing its asset base at 30%.

2. An interest only variable mortgage enables a McDonald's employee of the month to buy a $405,000 house (average price in California).

1. Your Fed Chairman's name is Alan Greenspan.

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