Mod Note (Andy): this was originally posted on 6/19/12
I was out to dinner the other night with a few friends. Each of us work in some variation of finance and have had a decent level of professional success in our young careers, on paper at least. I'm in PE, two of my friends are traders, and one is a consultant.
Despite our relatively good fortune, we all noted that we feel like we're living under a dark cloud that will never dissipate. The figurative cloud in question is, of course, the ongoing global recession.
I'm sure we're not alone in this feeling, In fact, I'm positive. The idea of a double-dip, or worse, comes up at just about every all-hands meeting we hold at my firm. Europe is falling apart, the US' fiscal situation isn't any better. There are no real signs that things will ever really improve.
Is this the new normal? Will it get better? Or are we totally screwed? I started to do some digging to see if there was anyone out there who could put all the pieces together for me to give an answer. I think I found someone with an answer.