So, you short the crap out of Fannie and Freddie, GM and Citi and not even the smallest bell goes of in your head that this might have some less pleasant implications on the real economy?
If you are making money and have a lot of it, why would you care? You wouldnt truly care... Many of these CEOS and investment bankers simply dont care because of the millions they made the last few years. For them, they will kick back now going on vacations or raising families. The ex-CEO of Fannie and AIG will simply take a long vacation and fade into obscurity while holding seemingly millions upon millions of dollars. Do you think they care? No, they dont...
People don't get rich by earning a lot, they get rich by not spending a lot. The future will show who has learned those lessons well before it is too late. Jim Rogers was in my country the other week and the journalist that did an interview wrote Mr Rogers made him not only pay for his own breakfast...but also that of multi millionaire Mr Rogers!
No, people get rich by earning a lot. Savings is always a good thing, no doubt, that will help you survive and get by the bad times. It will help make you live a better life and not worry about debt. However, have no doubt in your mind. Wealth is made by making lots of cash.
>>Wall Street employees become farmers>> I laughed twice when I saw this title. Once because Wall Street professionals don't know a combine from a P&L summary. Twice because the sheeple swallowed NAFTA, sold to them by politicians, after being told that no US manufacturing jobs would be lost because of global trade. LOL, to both.
Here's one http://www.careerbuilder.com/JobSee...cf8913937c4c2d9e8277f32d0e353e-283548182-KB-5 EX-STOCKBROKERS/FINANCIAL CLOSERS WANTED Established co Apply Now Job Snapshot Location: Fort Lauderdale, FL ( Map it ) Employee Type: Full-Time Employee Industry: Banking - Financial Services Manages Others: No Job Type: Finance Professional Services Sales Relocation Covered: No Posted: 12/22/2008 Contact Information Ref ID: 13667816 Description EX-STOCKBROKERS/FINANCIAL CLOSERS WANTED Established Company opening new and exciting office in Ft. Lauderdale Direct Investor Relations to Stockbrokers. Knowledge of Equities a Must (Ex-Series 7 Reps WANTED!!!!)! Strong phone/closing skills. Salary + Commission. Realistic 6 Figure Plan!!! Goal oriented, focused people apply. Email Resume: [Click Here to Email Your Resumé] Requirements Please refer to the Job Description to view the requirements for this job
If there are jobs to be had, they will get them. Many know all about accounting and business practices, so many small businesses can use them. If they don't know these things and only sell, then they are a salesman and that translates to any business.
You seem to think that it will be easier for a truck driver or construction worker to find a job then a banker. The truth is that we are all in this together. If the banker doesnt have a job, then the truck driver or construction worker is going to have the same time finding one too. I can bet you that neither you nor I could even get a job as a roustabout on an off-shore oil rig somewhere off of Singapore or even in Alaska. There is a line of people waiting for that job and we have to wait in that same line. We are all in this together in this economy. Its effected us all. People are out of work across all industries. There simply is no work out there. The ones you see working everyday are the lucky ones collecting a check. However, even the lucky ones are not that lucky. They have more work then ever before and they wont count on either a raise or a bonus while the threat of getting cut lingers over their heads. Welcome to Great Depression Part II. We are now just one year into it and have several more years to go. When you see the future, that roustabout job somewhere off the shore of Singapore is going to look better and better.