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I've been meaning to post something on how consistently and totally wrong all these investment bankers and financial talking heads have been proven when it comes to their predictions on the financial crisis, and I can think of no better way to put it than Jon Stewart does in this hilarious clip from a few days ago.
I don't think people realize just how dead finance is, and how long it's likely to stay that way. To everyone who's thinking of getting into the field, there's a pertinent warning: After the Great Depression, it took twenty years before investment banks and stock markets re-emerged. Apparently, that's the amount of time that had to pass before a new generation that was unscathed by the memories of the Depression emerged.
I don't think people realize just how dead finance is, and how long it's likely to stay that way. To everyone who's thinking of getting into the field, there's a pertinent warning: After the Great Depression, it took twenty years before investment banks and stock markets re-emerged. Apparently, that's the amount of time that had to pass before a new generation that was unscathed by the memories of the Depression emerged.
"I don't think people realize how dead finance is" ...this written by someone who probably has at best a smattering of financial knowledge and is only too happy to quote a self serving piece of overgeneralized information. :)
ReplyDelete@viruboy: You don't have to have a Master's degree in finance to be able to see what's going on in the world. I suppose the legions laid off from Wall Street, or the ever plummeting Dow are signs of good financial health. But since you're the expert, why not enlighten us laypeople how and when finance might recover, instead of resorting to ad hominem attacks?
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