BlackBerry Soldier: Street Dreams...
Street dreams are made of these, who am I to disagree, ... Everybody is looking for something. The sub-prime meltdown, is no longer news.I am glad that economist have become overnight celebrities which they ought to have been in the first place. From their doors permanently to letting go of their backing for major investors (those French men are always up to no good) to the miseries of and the call for the head of , these are the signs of the times. The street is blood thirsty, and blood the street will get, An African adage goes thus, success has many fathers and failure is an orphan.
I will give room for the academics to sort out their disparate views. For most us the issue has not been whether the economy was headed for a recession or not, its always been. when are we getting out of this recession. The scholars of the have lived up to the name reputation that went before them. You know what they say about how many economist it takes to change a light bulb, ten, one to change the bulb and nine to assume the ladder. Okay that is a boring classroom joke. I will make no attempt advising at this time, I will live that to the pros. I will like a to tell a short story. P's story. A story of the coldness in corporate America.
P and I go way back, back to the days when we used to make the impossible happen. You know how the experienced folks always say, there is a loop hole in every law, guideline or stipulation in corporate America, P and I worked those loop holes to the bone. He was a great guy to work with. He had two daughters which he always talked. they were a handful so his wife stayed at home to take care of his two angel. An arrangement that suited Paul just fine. It worked for him, he brought home the bacon and he was sure dinner would be served by the time he got home from those negotiation marathons.
Last Friday P's employment was terminated, the reason from corporate, 'we would not meet this quarters targets and the water is sort of murky from here on'. The MAN caught P of regardless of the ten years he had put into it. Little wonder, when I called called P's desk, his mobile and even shot him an email I did not get a reply. I got a call from him much later, he sounded rather laid back for 10 a. m. and just as I started to run through one more scenario, eager to make a deal fall through. P informed me in a rather flat tone, 'Oz, that's not going to happen, the expletive threw me out man'. Management no longer has the dignity to fire you face to face they send you and email on that damned blackberry, telling you the gig is up. Anyway, Paul with an MBA in hand, 10 years work experience, with an expensive lifestyle to boot is home playing horse with his daughters. Its cold out here for a ...
There are some things that B-School, graduate school can not teach, and one of them is how to deal with a recession. You read and write papers about economic down-turns feeling quite confident about ones knowledge. Ladies and gentlemen, it is different when you are in the thick of things. This is my first first-hand experience with a market crash, it is a sorry sight, gloom and despair is abundant. It is not uncommon to see a debate session in full swing on the parking lot of private equity firms at 2 p.m. Whatever happened to, 'I do not have time to grab lunch' The phones have stopped ringing, hey we might as well enjoy the nice weather. Economic models do not prepare you for the human and psychological side of crashes.
Say hello when you see me walking by, if I do not responsd don't get offended, I am not been cocky, I am caught up meditating on Chicken little was right after all, the sky is indeed falling.
See the other installement of the BlackBerry Soldier series.
The Slaughter.
I will give room for the academics to sort out their disparate views. For most us the issue has not been whether the economy was headed for a recession or not, its always been. when are we getting out of this recession. The scholars of the have lived up to the name reputation that went before them. You know what they say about how many economist it takes to change a light bulb, ten, one to change the bulb and nine to assume the ladder. Okay that is a boring classroom joke. I will make no attempt advising at this time, I will live that to the pros. I will like a to tell a short story. P's story. A story of the coldness in corporate America.
P and I go way back, back to the days when we used to make the impossible happen. You know how the experienced folks always say, there is a loop hole in every law, guideline or stipulation in corporate America, P and I worked those loop holes to the bone. He was a great guy to work with. He had two daughters which he always talked. they were a handful so his wife stayed at home to take care of his two angel. An arrangement that suited Paul just fine. It worked for him, he brought home the bacon and he was sure dinner would be served by the time he got home from those negotiation marathons.
Last Friday P's employment was terminated, the reason from corporate, 'we would not meet this quarters targets and the water is sort of murky from here on'. The MAN caught P of regardless of the ten years he had put into it. Little wonder, when I called called P's desk, his mobile and even shot him an email I did not get a reply. I got a call from him much later, he sounded rather laid back for 10 a. m. and just as I started to run through one more scenario, eager to make a deal fall through. P informed me in a rather flat tone, 'Oz, that's not going to happen, the expletive threw me out man'. Management no longer has the dignity to fire you face to face they send you and email on that damned blackberry, telling you the gig is up. Anyway, Paul with an MBA in hand, 10 years work experience, with an expensive lifestyle to boot is home playing horse with his daughters. Its cold out here for a ...
There are some things that B-School, graduate school can not teach, and one of them is how to deal with a recession. You read and write papers about economic down-turns feeling quite confident about ones knowledge. Ladies and gentlemen, it is different when you are in the thick of things. This is my first first-hand experience with a market crash, it is a sorry sight, gloom and despair is abundant. It is not uncommon to see a debate session in full swing on the parking lot of private equity firms at 2 p.m. Whatever happened to, 'I do not have time to grab lunch' The phones have stopped ringing, hey we might as well enjoy the nice weather. Economic models do not prepare you for the human and psychological side of crashes.
Say hello when you see me walking by, if I do not responsd don't get offended, I am not been cocky, I am caught up meditating on Chicken little was right after all, the sky is indeed falling.
See the other installement of the BlackBerry Soldier series.
The Slaughter.
5Comment(s):
Is it really this bad. I have had a lot but can it be as bad as you paint it to be?
I think it is really that bad - when I read in the FT of Ninja loans, I knew things might even get worse long before they get better.
Ps 91:7 is a good place to seek refuge, I hope you have good earthly shelter/insurance too - keep the faith.
ninja - No Income, No Job or Assets - something like history repeating itself again.
@anon, it is actually worse than TV makes it out to be. The guys on tv have to be careful not to scare the man on the streets, thats is why they aren't sweating as they speak in those fancy financial report shows.
@Akin Ninja, NINA was sweet, easy money...on the other hand this isn't a low risk investment for other peoples 401k. LOL we are all going down o..if yall thingk you are safe.....
A question from a lay-person: Does this crash affect bonds also?
Wow