For more than 10 years, ever since I’ve got ephemeries for the 21st century I was expecting something huge happening around 8/1/2010. In fact, I’ve marked that day as a possible start of the World War III.
When the financial crisis was officially announced, and I took a look at the charts for the U.S., I figured the time period around 8/1/2010 would mark a true low of that crisis.
I prayed to my avatar guru, yet still waited to see what would occur.
Well, apparently, nothing loud and big happened in the world except for hustoric flood in Packistan.
Yet something was happening: I have not received a single order since the week prior to August 1.
Of course, for a while, I thought it was my bad luck – just like at the end of 2007.
You, my reader, probably, had no slightest idea there is a financial crisis going on in the fall of 2007. Most of the people had no clue until the summer of 2008.
Well, people in legal industry had no idea either. Everyone was blaming their personal bad luck just like I did, until we were told that everyone is in the hole.
Legal industry suffered the blows before everyone else did, because the ultimate Payer in all civil litigations is the insurance industry. In this financial crisis, it is the insurance industry that suffered well before anyone else did, so the first people to fall off the ladder were the legal professionals and, of course, everyone who offers their services to them – like me.
When my mind finally drew this parallel, I’ve decided to check on the news specifically pertaining to insurance and legal industries, and this is what I found:
In June, 3,600 attorneys were laid off in NYC alone. In July, 800 more there were let go.
These are not front page news (yet). I found them in one little noticed article in some financial news on insurance industry.
But it told me more than hours of CNN watching. It told me what the article did not mention: the insurance industry is once again in the red ink, and it curtailing all the litigation, preferring to settle instead.
Why would it be in troubles now? Well, quite possible, the commercial real estate is defaulting now – that is something that economists were expecting for awhile now.
If we are watching repeat of 2008 problems, in about 6 – 8 months from now the financial industry would be buckling, and we may finally hear about the second coming of financial crisis on CNN.
So astrology, once again, proved itself right, but this big bang is truly silent – for now, of course.