Concerned about the job prospects for the already-wealthy cads who made a pile in finance jobs? Sure, we all are. There's good news, though; corporate types who suddenly find themselves unemployed have all decided, en masse, to become personal trainers. These former office-bound A-type personalities are all lining up to sell their exercise services to, uh, you know, whoever may have some disposable income left.
See, statistics say the "Fitness" field will grow by a quarter by 2016. How much of that growth will be from laid-off corporate types? The New York Times has no idea, but they found several anecdotes to create the appearance of a full-on exodus!
One equities lady became a yoga instructor, at a salary of $20K. Hardly a sound financial decision! A stock trader opened a personal training place in Jersey. A former healthcare executive is organizing "ultradistance" races out of his basement. A lady went to Harvard, then quit a lawyer job to teach yoga.
Not only is this trend fabricated, but even if it were real, it stands to reason that it would collapse immediately. If people can't make money working for Wall Street, do we expect them to flourish as personal trainers, one of the things that any smart person would immediately cut from their budget during a recession? No. The future of recession fitness is obviously this: