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Yes, I'm Saying I Told You So…

17 Sep 2008

To all the folks who told me I didn’t know what I was talking about last summer when I said the global financial market hadn’t hit rock-bottom: stuff you don’t want to read.

As for the formerly high-paid financial experts who said they didn’t see this “correction” coming, where the f*** did you get your degrees?!?

For the foreseeable future, my money and I will continue to sit on the sidelines because I think the worst is yet to come.

4 Comments leave one →
  1. azteclady permalink
    17 Sep 2008 6:15 PM

    I agree with you and I’m terrified by how much farther things will fall.

    Nothing like never learning from the past, hmm?

  2. Ann Bruce permalink
    17 Sep 2008 9:20 PM

    AZ – I think the situation might be prolonged because the US government keeps bailing out bad companies. I know it sounds heartless, but I think some companies deserve to go under because they obviously suck have forgotten some business fundamentals and need to follow the dead-end road to extinction. The companies that survive this crisis are ones that are better fit to serve their clients and themselves. To use a psychology term, the US government is enabling the weak of the corporate gene pool and that needs to be stopped. And the sooner the better because you can’t start the climb back up until you hit bottom.

    Before someone bashes me and says AIG, Fannie Mae, and Freddie Mac will recover and possibly thrive in future, the US government bailed out Chrysler way back when, and just look how well they’re doing now.

    (And that ends my Darwinian Theory of Business.)

  3. Kimmy L permalink
    20 Sep 2008 8:12 AM

    You’re right. It makes you wonder where all our tax dollars really go.

  4. 22 Sep 2008 8:41 PM

    Kimmy — $700 billion of your tax dollars might be going to bail out companies run by people who made piss-poor business decisions because their eyes were way bigger than their balance sheets.

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