Thursday, November 13, 2008

Two Economists Walk into a Bar...

Q: What's the difference between a recsession and a depression?

A: A recession is when your neighbor loses his job, a depression is when you lose yours.

The NY Times ran an article recently about how even the big law firms had it rough these days and were laying off assoiciates. Now, THAT'S scary. The reason I went into the law was for job security (also for money and so that I would be able to afford a trophy wife and spoiled kids with names like "Kennedy", "Madison" and "Brett"). I remember when the telecom industry imploded (not fun when most of your clients are in that industry) and I decided to switch gears and go work for the government. I could be making twice what I'm making now if I worked at a law firm, but I'd also probably have no free time and an ulcer. So I'm glad I made the choice I did. Still, it's scary to read about stuff like this because, even though I'm not planning on leaving in the middle of a recession, it's nice to know you have options available even if you're not interested. Like the hot chick who's going to the prom with the captain of the football team, but knows that there are others who would line up to take his place if she ever got bored of him. Reading this article is like finding out that the rest of the football team is gay (which is not unusual in high school and college football, but still).

Anyway, I'm just rambling here. How are the rest of you holding up in these difficult economic times?

10 comments:

Brett said...

My name is Brett. I was once a spoiled kid, and now a future trophy wife. Thanks for the shout out.

HomeImprovementNinja said...

brett: It was unintentional, but you're welcome.

Anonymous said...

Ninja!

hope your hanging tough!!
as a (Canadian) MD like you I essentially get paid by the gov. so all is well.We can go by stuff on sale now...

I'me glad you didn't get that Wall st job 'cause you would be panhandling by now.

Like you I enjoy watching my investments tanking.But its interesting in a weird kind of way to watch your shares in Sherrrit (gold oil-canadian,in Cuba) go up and down 10-15% in 1 day.
The whole market is run by shorts,hedgies etc,esp now. My advice;keep your job and buy some more stocks..(thanks for that Smith and Wesson tip six months and 4000$ ago). Go buy some more guns,you crazy yanks!! esp if you get shot with pellet guns @ nite...
I enjoy your blog,and occasionally send you scathing comments...

PS Brett is too young for you,and I think she IS spoiled.

Beach Bum said...

I work for an international organization that thrives when there's a global crisis. We are now on a hiring surge because of it!

Anonymous said...

I'm a nurse, so as long as there is pain and suffering in the world, I'm good.

Atmikha

Barbara said...

I keep hoping government annuities are safe. Otherwise I will be searching for work along with all the other slobs out there doing just that.

Law-Rah said...

My biglaw firm just dissolved - leaving 675 people out of a job. It was the second biglaw firm to dissolve in a month. THAT is scary!

dara said...

See, that's why I went into tax law -- mergers when the economy is good, bankruptcy when the economy is bad.

NV said...

PR is no picnic either.

Holding my breath and hoping the ax doesn't fall.

sbc_prod said...

It's leaving me pretty fcuked at the moment.