That’s So “07”

The world is a different place than it was in the bubbly ‘95-‘07 period.  In the old world every communications major became a real estate agent.  Fabulous new retail stores were opening every day.  Everyone was contemplating some kind of house renovation.  Every cocktail party conversation included some discussion of massive unrealized real estate gains – usually in a primary residence.

Today when I see something from the old world it strikes me as weirdly anachronistic.  Many people don’t seem to have been reading the papers or opening their 401K statements.  If they did they would then see that many things that make little or no sense in the new world such as:

  • Restaurants that charge more than $17 for pasta or whose menus say “market price” for fish
  • Movies where most of the characters seem solely devoted to shopping
  • Students who think college is just an opportunity to drink and study business
  • Athletes who expect to get huge raises every year
  • Sports franchise owners who continue to give athletes those crazy raises
  • Portfolio managers who ignore price and stick to buy and hold mantras which have all failed
  • Watching CNBC
  • MIT grads who want to be quants
  • Conservatives who want everything to go back to the way it was a few years ago
  • Economists who think 3rd world countries will help us out of our economic morass
  • Private elementary schools that charge over $12m a year

3 thoughts on “That’s So “07””

  1. Add to that:
    1. Water shipped from Fiji
    2. Lincoln Navigators
    3. Jumbo Mortgages (and the Jumbo house prices that go along with them).
    4. Ethanol (with luck)

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