I actually missed this thread the first time around. Too busy working trying to bob and weave through departments and avoid the firings.
I work for a credit rating agency. I was in structured finance. Saw the writing on the wall there about a year ago and went to financial institution ratings which seemed safe until...
Then another move this winter and a 50% paycut to make sure I can continue paying the mortgage and put food on the table for the wife/kids.
Yeah yeah, flame away. It's all our fault, we deserve to be fired and get paycuts. Blah blah blah. I've heard enough from un-educated media and politicians that I'm numb to this blame game by now.
I got one word for this whole mess - GREED. Common sense should tell you that if something is growing faster or yielding more than historical levels it is likely unsustainable. But everyone wants to turn a blind eye and hope the musical chairs doesn't stop on them while they're holding some junk investment packaged up with a bunch of other junk investments and called gold. You can't polish a turd.
Anyway, I can't complain because I am still better off than many people in the world and will come out of this with a better sense of what is really important in life. Ultimately this great country will give me the opportunity to bite and claw my way back up.
And for now, I can still afford my beer and drive an M5 (not in that order or course). So cheers and good luck to you all!
It's still bad, it's just that I, like many I assume, are tired of hearing how bad it is.
I am one of them. I am very tired of hearing about this ****, it really gets you in a bad mood. I feel sorry for people that are effected by it, people who are "forced" to sell cars, houses and so on.
Last edited by M V10; 24th February 2009 at 23:01.
It goes in line with Nobama's strategy. To scare the crap out of people so that he can force his policy making onto us. He'll make people think that his way is the only way and that it must be done now or else.
We'll see what he says tonight. Even Pres. Clinton mentioned that obama is too negative when he comes to talking about the economy. I believe the spoken word is a powerful thing. If someone keeps talking about how bad the situation is, then the situation will get worse. If you say positive things, it will get better.
Please dont turn this into a presidential debate. We dont want to talk about Bush eight year track record either
Quote:
Originally Posted by ezmoney888
It goes in line with Nobama's strategy. To scare the crap out of people so that he can force his policy making onto us. He'll make people think that his way is the only way and that it must be done now or else.
We'll see what he says tonight. Even Pres. Clinton mentioned that obama is too negative when he comes to talking about the economy. I believe the spoken word is a powerful thing. If someone keeps talking about how bad the situation is, then the situation will get worse. If you say positive things, it will get better.
It's still bad, it's just that I, like many I assume, are tired of hearing how bad it is.
Agreed!
Also, many simply don't want to discuss their plight!
I'm an architect, my industry is a luxury. When economics sink, we are the first industry to tighten up. When the economics rise, we are normally the last to reap the benefits. In other words, our ride is much shorter, however, much steeper.
That said, knock on wood, no. . . I've worked my @ss off to insure some security, even during these times. So, I am busy, but that does not change the psychological challenges. Are my projects going to be completed. Are other commitments going to be there in 2 to 3 months, etc. I don't know! According to the media, unless, I work for the government or have lucrative government contracts, I'm up sh!t creek.
But, my part-time gig is a full time position at a SoCal college. Trust me, I am torn!
Listening to my colleges in academia, they have no clue we are in a depression. The committees I sit on have to do with development and expenditures. They throw Millions of dollars around like we spend 20's.
We don't need capitalism, the government will take care of us all!
I guess I should get fitted for my kaki gray dress code! (the professor)
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Mike
'08 M5, SMG - Black Sapphire / Black Merino
'07 X5 3.0si - Jet Black / Tobacco Napa Leather
'04 M3 Conv, SMG - Jet Black / Black Merino (Gone 9/11/07 )
'04 Mini 'S' - Dark Silver/White Top, (mucho mods)
'86 Porsche 951 -White (Son's money pit)
Past Rides (worth mentioning)
'98 M3 -Titanium Silver /Black Merino -Sold
Yeah yeah, flame away. It's all our fault, we deserve to be fired and get paycuts. Blah blah blah. I've heard enough from un-educated media and politicians that I'm numb to this blame game by now.
Please explain how these CDOs got an AAA rating. Is the public wrong when these ratings lead to the wide trading of these devices??
Really curious.
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You can't polish a turd.
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