Henry Paulson's bailout program hasn't impressed me at all. Let me just say that in principle, I am against any of those bailouts. I would rather chase those executives down and squeeze out the many millions they pocketed during their last days before the lights were shut off. And I do not believe $700B would suffice to bolster the economy. I hope I am wrong, but I am afraid I am right.
All that said, I am very worried about the current state of global economy. I lived through the technology market meltdown earlier this decade in this country. I wasn't too worried of it. I felt that the market was good for people with real talent, in spite of the market situation. But this current mess makes me worry a lot. Surprisingly, our company has been doing extremely well in these weeks of extreme uncertainty. I was worried at the end of Q3/beginning of Q4, but we have closed record revenues in the midst of all that is happening around us. But I can feel chills up my spine when I think of 2009. I think the job market going to get much worse. I think foreclosures and personal bankruptcies will soar. If I were in Detroit, I would consider moving out ASAP, as the auto industry will probably have its worst year. If oil starts trading in Euros, or if some of those OPEC nations unpeg their currency from USD, life in the US will become much tougher. So, even though my business is at a peak, I will just keep my fingers crossed, hope for the best and shy away from forecasting anything for the next 12 months.
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