Lessons Learned—and Handed Down
A man recently opened his mail to find a note from his bank with a returned check marked “NSF” (for non-sufficient funds.) After hearing all the difficulties that banks are having these days, he called their accounting department and asked, “Is it you……or me?”
In a recent visit with fruit growers in southern California, their accountant mentioned that his standard for “when the recession is over” is when the Fed goes five Fridays in a row without closing a bank. Of course, that is not the technical definition of the end of a recession, but it is the definition that reflects a healthy, stable economic environment for his clients based on his 30 years of experience.
