... and we are merely monkey's

Congratulations, you just wasted 23 1/2 seconds of your lifeSo what is MonkeyGuano, you may ask... Well thank you for asking. A Monkey is a primate from which all humans originated, unless of course you believe that apple and horny Teenager story. And Guano, well that is Poop, particularly the poop of Birds and Bats, but I stole it for monkey's. After all, if Paris Hilton can make an album, Monkey's can sure as hell squirt a little Guano out of their ass.Oh, I guess that really didn't answer your question... OK 42.Cheers,

Monday, November 17, 2008

"Big Suprise" Another bank in financial problems - Remember the 80's

OK, does this headline really surprise anyone?

Citibank Massive employee Lay-off

For a couple of years now, I have been telling people the Real Estate market was ready for a crash. Living in Vancouver Canada, I was met with dumb-ass comments like "oooh not until after the Olympics" as if 2 weeks of people skating, skiing and sliding down an icy track with their genitals closely entwined with another member of the same sex is really going to effect the real estate market in a substantial and real way. Did you read that part about the 2 weeks!!!

All that aside, the banks and credit card companies have been taking full advantage of the increased level of consumer stupidity. The Subprime interest rate marketing scheme was simply the start, longer amortization periods and reduced qualifications for Morgtages added to the massive debt load. Credit card companies followed suit by increasing the number of "introductory rate" offers, knowing full well, most consumers have little control over their spending habits when it comes to plastic.

Yes, I feel bad for the employee's who are now being layed off. Unfortunately, many of them had very little to do with the brain dead decisions made by the top level execs. Those effected can take some comfort in knowing, if the past is any indication, top level executive positions will soon be subject to the axe as the economy takes a further tumble into oblivion.

All that said, things will eventually get better once the shit filters through the pipes. It might take a few years as well as some interest rate increases, but the banks will eventually recover and the economy will be ready for a brand new batch of brain dead consumers and blood sucking bank executives.