Around 2008, the economy was terrible. I was living in New Jersey, and we were going through the collapse of the housing market. People who were making $30,000 per year were some how getting approved to buy $500,000 homes, and that was just the tip of it.
Things were bad, and they were bad for a long time, but no matter how bad things got or seemed to be, it was always a recession. It was just a recession.
People knew better. They knew it was a depression, but the word depression was avoided at all costs because it causes a panic. But that was then.
At 3:05 this afternoon, CNN reported Gustavo Arnal, CFO of Bed Bath & Beyond, took the suicide plunge to his death, jumping from the 18th floor of his New York apartment building.
Bed Bath & Beyond is in serious financial trouble right now, and Arnal’s death happens to coincide with the layoff of 20% of corporate employees and the closing of 150 stores.
I’m not saying Arnal killed himself because of what was going on with his place of employment, but this is definitely a situation we should keep an eye on. Why would the CFO of one of the most popular brands in America kill himself?
No one is going to come out and tell us if we’re in a depression or if things are actually that bad in the country right now, so we, the uniformed public have pay attention to the signs.