| Re: PRC - Lee Iacocca |
Subject: Re: PRC - Lee Iacocca by runner140 on 2008/8/6 17:35:27 Theres an old saying...when your nieghbor is out of work, thats a recession. When you are out of work, thats a depression. I think the system still works. We've had eight recessions since 1929. More recent recessions were 1973(oil crisis), 1980(another oil crisis), 1990(run of the mill recession), 2000(collapse of the dot-coms/Katrina/Sept.11th)and the most recent(sub-prime/arms/ banks/auto industry and brokers). The above all lasted from one to two years, we got thru them and were able to play again. I've been in the finance industry for 39 years, yes,I'm an old fart. When times were good we make alot of money and when things were bad, we had alot of trouble paying the bills. Have patients, don't make any stupid mistakes and we all will get thru this in one piece. |
