economy

Looks like bars and liquor companies are jumping on the recession bandwagon, creating special drinks in honor of the tanking economy.

Got to give them an 'A' for effort. A few of the more creative ones include the Bourbon Bailout, Rejected Resume and Welfare Punch.

So, what's your drink of choice to drown your misery in these days?

I was hoping to go into the Investment Banking, PE, HF, etc. Many of my ex-Senior friends from last year and 2- years ago were swallowed up by various eager banks upon graduation. Their employers were mostly Citigroup, Bear Stears, Lehman, Wachovia, Suntrust, JP Morgan, Goldman, ML, MS, etc - with a few more other regional employers such as Coca-Cola, record companies, etc. Those who went to Wall Street, and even those who went to Suntrust, Wachovia, etc. all got sweet jobs - mostly as analysts. Some of 2nd years claimed to be well north of $150K - with no end in sight. Needless to say, many of them got laid off.

"WSJ: Official recession watchers at the NBER said today that the U.S. is recession, and it began in December 2007."

http://online.wsj.com/article/SB122815252673269395.html?mod=testMod

So how long are we going to be in this?

Obama just got finished officially announcing his new economic Dream Team. As we all know, Tim Geithner will be the new secretary treasury (and he skateboards, isn't that ,like, totally rad or something?), Larry Summer will serve as his top economic advisor (probably said 'No' to the Treasury job, right?), and Christina Romer will head the Council Of Economic Advisors (Obama is a big fan of her Great Depression knowledge, which will surely come in handy.)

The NYTimes Biz Section did a solid liveblog of the announcements. So, what do you think, best team ever?

We will miss her laugh. We will miss her smile. You betcha! Don't ya know! It's all about creating jobs. We in the REAL America will miss her and her clothes. She had the Wall Street bail out plan nailed.

http://www.youtube.com/watch?v=txfqWzGMgmY

Oh, it's all about creating jobs. That's it. She will be missed from Wall Street all the way to Main Street; especially when those who speak of this globalization that we are a part of in this world.

Have you ever seen those postcards where they put people- clothes on chimps who really have no idea what's going on?

Let's all go to Russia and wave a fond goodbye to Sarah Palin!

US: 6.1% in September, up 1.4% from a year ago.

Canada: 6.1% in September, unchanged from 2 months ago.

UK: 5.75% in 3 months to August, a 10-year high. This was the biggest jump in umemployment in 17 years. Taking into account those who have given up on finding a job or unable to work for another reason, an incredible 20% of working age population is economically inactive.

I was planning on voting for Obama earlier this year because i'm not a big fan of McCain. But recently, Obama's views on taxes and government programs, has scared the living crap out of me.

In Ohio yesterday, Obama told a plumber that we need to start "spreading the wealth around." And in an interview with charlie gibson, he was confronted with the fact that when reagan and clinton lowered taxes, revenues increased and the economy propspered. Obama's response? He merely said that raising taxes are a matter of "fairness." Rather than discussing economic growth or invoke empirical data to bolster his points, Obama constantly resorts to a moral argument on favor of wealth redistribution. Moreover, the democratic congress is already planning on drastically increasing government spending on welfare and other social programs.