The Dow Jones Industrial Average hit 15,000+ the other day,
a stock market record never seen before.
A more accurate headline might have read,
“Dow hits 15,000…Nation collectively yawns…?”
Now Gpawn wasn’t invited to any “Wall Street 15,000+ celebration parties” and I don’t know of anyone who was. I did however notice that the dog is gnawing on her hind leg which indicates that there is going to be a very expensive visit to the Vet pretty soon. The car seems to be making the same noise that it made the last time it wound up at the mechanics and the wonderful folks whom provide my home television entertainment, phone service and Internet connection have arbitrarily decided that they can drill me for an extra $20 per month…did they just throw a dart at the dart board and hit my name for some reason? The costs of electrons suddenly go up? Perhaps it’s because it’s Phoenix and it’s going to be really hot soon…that seems to be the universal excuse for raising prices around these parts.
So these are my excuses for not knowing or caring what tremendous success seems to be flowing down Wall Street these days. But probably the following is the actual reason that you and I didn’t really notice:
– The six biggest banks hold assets equal to 63 percent of the country’s GDP (*Gross Domestic Product): In 1995, the six biggest banks in the country held assets equal to about 17 percent of the country’s Gross Domestic Product. Now their assets equal 63 percent of GDP.
Guess there were no parties on our block because nobody I know works for one of the six largest banks (In a capacity higher than Bank Teller at least.)?
But what about people like us?
While all this was going on, we were busy helping people who have non-intelligent mutt dogs with their Vet bills by arranging fast, hassle-free cash loans. We’re also busy purchasing unneeded gold, jewelry, firearms and designer purses so that they can get their cars fixed and as long as some of us are going to be paying $20 more per month for home communications/entertainment we might as well make a stop at Glendale Pawn and Jewelry and get a big flat screen television for an unbelievably low price.
But seriously…things are getting better. It’s getting better a lot quicker for those at the top, but it’s also getting better for the rest of us too…just not as rapidly.
Speaking on behalf of the battered and bruised Middle-Class…We’re still here. More of us are going back to work. Most of us enjoy good health and almost all of us have the blessing of a family and people who love and care about us. The economic crash was a devastating event for sure. I don’t know of anyone who was unscathed. But we’re all still here and we’re getting stronger every day.
The six biggest banks may own most of the GDP in this country, but it was the pawn shops who gained even more. People found out that we genuinely care about our customers and our communities.
We extended a helping hand when the banks wouldn’t. We gave generously to local charities and all of these acts did not go unnoticed. In the process we became Mainstream. We, as an industry, also shed the stigma that for the vast majority of pawn shops…was completely undeserved.
In closing, if we can help you with anything, please let us know. It’s what we do here at Glendale Pawn and Jewelry and we’ve been doing it for +25 years now. Stop by and say hello, get a piece of candy just for coming through the door. We’ll share our stories of non-intelligent mutt dogs, cars that make funny noises and our theories on why some bills just keep going up (This may include our suspicions of “Corporate Beer Funds” and other nefarious activities)
Oh! Don’t forget! We’re all in this together and…”We’re glad you’re here!”
*The monetary value of all of a nation's goods and services produced within a nation's borders and within a particular period of time, such as a year. It became the official measure of the U.S. economy in 1991. It replaced “gross national product,” which covered all goods and services produced by U.S. residents regardless of where they were working.