Thursday, January 26, 2012

Gongs as an Economic Indicator



 The WSJ online had an interesting story today (Thanks, Cathy Carey for the tip) about a man who sells gongs and what influences their demand.


'Before the crash of '08, some of his biggest customers were car dealers. 

Subprime borrowers banged, too. "I supplied Countrywide Financial," said Mr. Borakove. His wife, Mary, who was busy staining mallet handles, said, "Wouldn't that come up in a congressional review? What were all these gongs for?" Mr. Borakove riposted with a hapless-banker line: "They had to bang it, Senator!"
After the crash, Mr. Borakove said, "suddenly I was selling to a whole lot of yoga teachers." Among them is Mehtab Benton, 61, a Texan with a yoga operation in Austin. "Hard times are good times in the yoga business, and that's good for gongs," he says.'
Of course, as a child of the 70's, I could not let such a natural segue to THIS go by!!
Gong On!
John

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