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Volume 11: Issue 3 | Date: April 5, 2021
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COMMERCIAL LENDING NEWSLETTER
You are receiving this letter because you are one of my Spartans - my top-producing brokers and investor clients - of whom I am allowed to have 300. Removal instructions are below. Today we’ll revisit the idea of a looming war with China and the state of the economy. As always, we have lots of cute, clean jokes, funny pictures, and an informative video on how blockchain technology works.
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Joke Du Jour
Five-year-old Becky answered the door when the census taker came by. She told the census taker that her daddy was a doctor and wasn't home because he was performing an appendectomy. "My," said the census taker, "that sure is a big word for such a little girl. Do you know what it means?" "Sure! Fifteen hundred bucks, and that doesn't even include the anesthesiologist!"
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Here is What Blackburne & Sons Can Do
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True Love Joke
Boyfriend: Honey, on this Valentine's Day, I want to tell you something... I'm not rich, like Robert. I don't have a mansion, like Gary. I don't have a Porsche, like Martin. But I do love you, and I want to marry you.
Girlfriend: Oh dear, I love you too! Now, what was that you said about Martin?
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- Today's Observation -
Fourth Generation - Peasant
There is an old Chinese saying:
First Generation - Peasant
Second Generation - Buys land
Third Generation - Mortgages land
Fourth Generation - Peasant
The cycle starts with a family of peasants working in the fields. In the second generation, a hard-working mom and dad make painful sacrifices and save money, They buy land - say, a family farm. They pay off the property over a lifetime of hard work, which provides the family with an income in their retirement. Their children, raised in comfort, tend not to be as hard-working as their parents. Too often they become spendthrifts (irresponsible with money). To pay their debts, they eventually have to mortgage the land. Unable to pay their mortgage, they eventually lose the land in foreclosure. Their children grow up as poor peasants.
As I look at what's happening with the profligate spending by the Federal government, I worry that we have become that third generation. It started with Trump's big tax cut. That big tax cut plan had a lot of good and necessary features that encouraged American companies to move more of their operations back to the United States; but that corporate tax cut was just too large. The Treasury lost too much revenue.
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Now Biden and the Democrats, with their $1.9 trillion pandemic relief bill, have ballooned the deficit and the national debt to even more absurd levels. Last month I mentioned that the Federal government will probably get away with creating $1.9 trillion in new money. Much of this new debt will be used to make the payments on our existing debt, thereby absorbing much of it, like a giant sponge; but there has to be an end to this irresponsible belief that deficits no longer matter.
On the other hand, the good credit of the United States is like keeping a credit card free of any outstanding balance. This available credit can be used in an emergency. Certainly the pandemic qualifies as a bona fide crisis. It makes no sense to keep reserves for a rainy day and then fail to use this rainy day fund when it is pouring outside. Therefore, I don't hate Biden's pandemic relief plan, just its size. I worry.
The Future Dictator of the World, President Xi of China, continues to poke and challenge the world. His fighters routinely violate Taiwanese airspace, and the size of these incursions (the number the Chinese fighter jets involved) keeps growing. First, the Future World Dictator sent hordes of "fishing vessels" into the disputed waters of the Senkaku islands in the South China Sea. Then he filled those "fishing vessels" with Merchant Maine sailors and marines. Now he is sending heavily-armed Merchant Marine ships, many of which are as formidable as a frigate.
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In response, the Japanese are rapidly expanding their Navy. The Filipinos are furious too, because they also have a claim to these islands. President Duarte of the Philippines is a wild man. You'll recall that Duarte is the guy who told his Army and Police to just shoot suspected drug dealers. His forces have killed 7,000 drug dealers in just the past six months. President Duarate is just crazy enough to order the Fillipino Navy to open fire on these Chinese ships.
Everyone is reminded of the old saying, "Power corrupts, and absolute power corrupts absolutely." President Xi of China is the absolute ruler of China for life. By poking India and Japan recently, he has motivated them to rapidly increase their armed forces. WTFudge are you thinking, President Xi? Why would you want your enemies to re-arm? This irrationality on the part of Xi is causing my "spider senses" to tingle. The guy is a megalomaniac (obsessed with his own power).
I stand by my prediction that we will be at war with China in less than three years. This other crazy guy, Duarte, could easily start that war. The outgoing commander of U.S. forces in the Pacific told the Senate Armed Forces Committee last week that China will have the power to take Taiwan by force in less than six years. The incoming commander suggested to the Senate Committee that the Chinese will have this power in much less than six years.
The Mormons keep an emergency one-year's food supply on hand. If the Chinese start their surprise attack by taking out our GPS and telecommunications satellites, you'll be glad you kept some emergency food on hand.
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Video Training Courses For The Newbie Commercial Mortgage Broker
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Car Joke
Q: What do you call a man with a car on his head?
A: Jack.
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Best Value on Training Courses
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Office Intern Joke
Several years ago there was an office intern who was none too swift. One day he was typing and turned to a secretary and said, "I'm almost out of typing paper. What do I do?"
"Just use the copier machine paper," she told him.
With that, the intern took his last remaining blank piece of typing paper, put it on the photocopier and proceeded to make five blank copies.
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On a Personal Note
In just a few short weeks, I will be getting married. We aren’t doing anything big or fancy, just a backyard ceremony with immediate family; but with a backyard wedding comes expectations. I can honestly say I have done more yardwork in the past month, than I had in the past 35 years of my life. Between digging holes and moving bags of rocks my weekends have been anything but relaxing. With just a few short weeks left, we still have a ways to go, but it is finally starting to come together. If it turns out to be half as nice as it is in my head then I will be happy!
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George Blackburne IV
Loan Representative
(916) 338-3232 Ext. 314
georgeiv@blackburne.com
NMLS #382122
CA DRE #01873244
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Video - Blockchain Simplified
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Final Funny
A man went to his dentist because he feels something wrong in his mouth. The dentist examines him and says, "That new upper plate I put in for you six months ago is eroding. What have you been eating?"
The man replies, "all I can think of is that about four months ago my wife made some asparagus and put some stuff on it that was delicious...Hollandaise sauce. I loved it so much I now put it on everything -- meat, toast, fish, vegetables.
"Well," says the dentist, "that's probably the problem. Hollandaise sauce is made with lots of lemon juice, which is highly corrosive. It's eaten away your upper plate. I'll make you a new plate, and this time use chrome."
"Why chrome?" asks the patient.
To which the dentist replies, "It's simple. Everyone knows that there's no plate like chrome for the Hollandaise!"
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Members of the Blackburne Family of Companies
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555 University Ave, Suite 150
Sacramento, CA 95825
P: (916) 338-3232
F: (916) 338-2328
CA DRE #00829677 // NMLS #103430
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