I am still put off by Warren’s Editorial a month or so ago in the New York Times touting stocks.

Any big hedge fund manager that has survived will be hiding out in the debt markets for many months to come. The stock market is broken for now. No leadership, shitty balance sheets, cancerous financial instrument and leverage in the system…yada yada.

Warren hedges his op-ed with the fact that he’s talking about those with 20 year time frames. Unfortunately, there are 10 people with that foresight and patience and so he should have saved that missive for a private email list of his cronies or his Twitter Feed.

‘Joe The Plumber’ is upside down and will be upside downer in a bit. Don’t be Joe.

The good news about the next downswing in the markets (possible) and the economy (for sure) is that LAWYERS will suffer insane pain. No industry has provided less service and benefitted more from inflation in a deflationary start-up environment than lawyers. While the cost of starting company’s drops by insane percentages a year since 2000, the cost of lawyers per hour has probably tripled.

As a nation, we can ALL agree on one thing and I a surprised that neither candidate picked up on it…’Kill all the Lawyers’. Instead we polarize on abortion and gay rights.

The best thing about the impending doom for lawyers is that 90 plus percent are unemployable in the start-up world. They are too proud to go to Devry (DV) or ‘Al’s Refrigeration School’ . Their pain will be rather intense and they don’t even see it coming. You see, they think they are necessary.

To survive in the new economic environment, you will need to have practical survival skills, not billable hour inventory. Their pain will be intensified as their pink slips come at a time when their 401k’s are down 50 percent and they have no savings. Their $200,000 jobs are not replaceable for the forseeable future. They will hit the sell button on all their 401k’s in aggressive growth and international indexes at precisely the bottom, likely in the next 18 months.

You see…it’s not all bad.

Finally, a great post from my pal ‘The Fly’ on why ‘THIS Depression Will be Cooler ‘:

Without a doubt, we are heading into a depression or something like it, where employment and inventories run dry. However, this time, it will be much cooler to watch, on my brand new LCD, as opposed to where Grandpa Fly found news: on his bullshit AM radio, made from “Marconi”— “a fine Italian”—no doubt.

Poetry!