Monday, March 23, 2009

What we've learnt from the economic collapse

  • Good things don't last forever. Bad things seem to last forever.
  • There's a lot of shady shenanigans going on on Wall street
  • CNBC is for "entertainment purposes only"
  • There's even more shady shenanigans going on in Washington
  • Living within your means isn't such a laughable concept
  • Thinking a software can predict the market for you is still a pipe dream
  • When there's a boom, better not be one of the morons that get into it late. You want to be ahead of a boom and definitely ahead of the bust.
  • If you are going to make stupid decisions, better make monumentally stupid ones that can bring down the economy. 'Cos then you are guaranteed to get federal bail out
  • Socialism isn't so bad when it's all that's standing between you and economic doom
  • Credit cards do have an APR
  • Credit cards do not like you. Not unless you don't pay your bills on time. Or you are one of the suckers that pay the "minimum payment".
  • Reverse mortgages are a really bad idea. Unless you plan to die soon and you either have no heirs or you want a last chance to stick it to them.
  • Store brand merchandise are sometimes just as good as the brand name versions.
  • "New and improved", "New shiny packaging" all mean "higher price" when it comes to grocery
  • You are more likely to be screwed by an American (on Wall street and in Washington) than by some foreigner in Nigeria.
  • All politicians, including Obama, are looking out for #1. And that sure ain't the people!