/biz/ - Business & Finance

>>53095512
Oldag here

It's actually worse

Not as bad as 2008 yet, you aren't losing jobs en mass, and the stuff isn't dumping as hard as it did in 2008

>>53095512
It's more boring than 2008, that's for sure.

We're still well above that V shaped rona dip which was exclusively and entirely made out of money printing, meaning people haven't yet capitulated on the homes, cars, goods, and services they couldn't afford with their printed 0% interest debt. Same with all those useless jobs during the 2021 hiring frenzy where you could get any job on the planet with zero experience. Idk how anyone can call this bad, we haven't even warmed up. Nobody's lost their jobs or homes yet. Then the real fun starts

>>53095512
Is the fear of a recession worse than an actual recession? I have money to spend but I'm afraid to. I keep thinking I'll lose my job. This is what (((they)))) want, isn't it? We stay in line. We don't make bold moves for ourselves. We keep working jobs we dislike. We keep slogging on and on. Waiting. Wondering. Then we get sent to go work at home again just like 2020. It's an endless grind with no mercy, no escape. Do we stay prisoner here waiting and wondering? This is our purgatory. Happy fucking new year.

It's worse because the money printers are off. We could see a decade long crab market.

>>53095512
we really don’t know yet because the system has been constantly propped up by the fed and the government and we’re in uncharted waters now. it’s a different kind of crisis than 2008 which was primarily fraud with stated income/assets used to get easy credit leading to massive, toxic debt. that’s really not the case anymore as no real lender would ever give money out on stated/unverified income even now, but the system has been stretched to its limit and there’s nothing left for the rich to steal from the poor anymore. It could go a lot of different directions

>>53095727
turning off the printers could be the only reason the market survives. I would prefer a hard reset because then I could finally steal some real estate back from the boomers, but jpow and the government know they would risk chaos with anything more than a soft reset and years of crabbing, so that’s probably what they are starting now

>>53095512
Much worse

>>53095512
It’s only seems better because media hasn’t declared it a recession yet. They declared it when Bush was in office to get a democrat in there. Once Trump or Desantis gets elected they will announce the recession and mass lay offs will begin and yea it will be much worse than last time

>>53095727
We have enough money in circulation. The problem is whose grubby hands it's in.

>>53095512
Much worse with a long time to go

https://www.youtube.com/watch?v=65KZtfkNt_w

>>53095733
back then too many too poor people were given loans on fraudulent lending standards which ended in disaster
right now people that were supposed to be prudent borrowers and solvent according to the data tables from the past were given a lot of loaned monies
market turned and previous assumptions no longer hold so those middle class dependable people are now subprime borrowers
there simply arent any real solvent people at scale left to practice usury on
in the end we are probably in worse conditions than 2008 based on lending alone

>>53095512
Way better. Nothing has even happened yet.

a combination of dotcom bubble, 70's inflation, 40's yields and the added effect of deglobalization and demographic decline
unironically its gonna be a couple of tough decades that will either end in complete civilizational collapse or singularity. make or break time for humanity

>>53095512
Nothing has happened yet except for inflation.

>>53095512
Back then I was playing Halo with my buddies without a care in the world
Now I'm financially ruined

Definitely worst.
It’s more widespread this time around.
In 08 the cost of living wasn’t so high.
Real estate was cheap.
Getting a loan was simple.
No planned-demic.
No supply shortages.
No oil shortage issues in Europe.
No ESG propaganda and rules.

>>53096666
Satanic quads. Fuck.

>>53096666
Checked and claimed

>>53096732
1000 Checkems scheduled for deposit

>>53096666
checked and true

It's... different.

2008 within a few months real estate prices crashed and was followed immediately by stocks crashing and mass layoffs. You'd drive through a suburban neighborhood and just count the houses that had been foreclosed on. Normal people would be underwater on their mortgage and also lose their jobs. There was a definite sense that it was borderline apocalyptic. Even a year before then ordinary people with day jobs were dabbling in things like flipping houses because you couldn't lose with it, then suddenly one day everyone lost.

This time it's different. Shit jobs that would never have paid much above $12 suddenly pay $17 an hour like they're one of the local factories, but they still can't hire anybody half decent. Tech jobs and some office jobs are suddenly paying more and offering better conditions, but also there's an attempt at a hiring freeze and an attempt at making people come back to the office so that nobody figures out that most managers are redundant. There's the sense that stock buybacks are what's been keeping the market standing and that's making everyone nervous. Inflation is through the fucking roof and everyone is blaming higher wages instead of Fractional Reserve Banking, which is how you know that the corpos are all trying to cover their own asses. There's a weird sense of desperation in the air because jobs and wages can be had but everything is suddenly becoming vastly more expensive faster than it used to and nobody is quite sure when the stock market jenga tower is going to fall over and lead to job losses.

>>53095512
2008 happened because men walked like faggots

>>53097742
>2008 within a few months real estate prices crashed and was followed immediately by stocks crashing and mass layoffs
give it a few months
2007 was like 2022, stocks coming from ath's but not quite giving in yet than the whole shitfest collapsed in record fashion
same today as then, normies dont realize something terrible is happening they still go smiling to the cagie only to be rugged later on
here is another interesting opposite, as normies hit peak despair with joblosses, rising costs and declining real estate, most assets will bottom and we will begin our trip up again somewhere in this year

>>53095512
There is no recession dumbass. I lived through 3 recession and right now is not a recession.

>>53096666
Yeah but if you didn't have a secure job you were fucked. I live in an economic hotspot but in 2010 you couldn't even get a job washing dishes or spinning a sign without having to compete with 300 other desperate people.

>>53095512
way too soon to tell. this is a slow burner for sure, 2008 was fast and brutal. so far 2008 is clearly worse, but we are just getting started with the current one, cant compare yet.

>>53095549
Extremely based.

in 2008 it seemed like actual banks might fail. I recall Citibank stock dropped to like 30 cents a share (of course I slurped at that point). I would say it is currently better than 2008. but who knows, it may get worse.

>>53095549
Only answer here worth reading

>>53095512
It seems like it depends on your position. If you're already established it's not that bad compared to high unemployment rates and century old companies blowing up, but the opportunity for people to actually rise in economic status is grim. So many people graduate college and just sort of drift around because there's nowhere willing to hire a newbie. They want someone who can "hit the ground running" while receiving the same entry-level wage.

>>53097742

>>53095512
it's over

>>53096350
>Nothing has happened except EVERYTHING being x2/x3 more expensive.
lol
>>53097917
>if you didn't have a secure job you were fucked
> in 2010 you couldn't even get a job washing dishes or spinning a sign without having to compete with 300 other desperate people
It's literally the same all over the world now except...I dont know, your country?

>>53095512
2021 oldfag, it's worse

In 2008 we were all in agreement that market crashes and unemployment were bad and everyone was anti war or coming around to that. Now the normies, particularly the petty bourgeoisie reddittor class, think taking jewish dick is a good thing, they want markets lower and a draft for ukraine

>>53096666
Based

>>53098420
>rightwingers lying about both the past and present
Okay, some things never change.

>>53095512
Back then we were the ones causing wars. Now, yikes.

>>53095580
>at V shaped rona dip which was exclusively and entirely made out of money printing, meaning people haven't yet capitulated on the homes, cars, goods, and services they couldn't afford with their printed 0% interest debt. Same with all those useless jobs during the 2021 hiring frenzy where you could get any job on the planet with zero experience. Idk how anyone can call this bad, we haven't even warmed up. Nobody's lost their jobs or homes yet. Then the real fun starts
Yeah this is absolutely correct

>>53095512
2008. was localized to USA and UK and western Europe but people still had reserves and things weren't even close to how bad it is now.

>>53095727
>printers are off
They arent. Plebes and low tiers cannot get cheap credit anymore to flip. Printer is in overdrive.
You imagine it isnt because the purchasing power is dropping as fast as the printer is printing.

>>53098555
Cloomed

>>53098684
100 Checkems scheduled for deposit

>>53095512

They just put a literal band-aid on what happened in 2008 this entire time.

It's not a question of it but when, always.

>>53095512
The difference is that in 08 it all came down hard and fast when Lehman blew up. Not it's just a slow bleed. If you've traded any timeframe with TA, you'd understand why this is worse.

>>53098700

*question of if

>>53095512
companies arent going bankrupt nobody needs a bailout millions of houses havent been foreclosed on yet. its not really even that bad compared to 2008 yet.

>>53095542
>you aren't losing jobs en mass
Didn’t the tech jobs get fucked hard?

>>53098535
Occupy Wall Street

>>53095512
Worse. Altho btc was only worth $0.00 in 2008, i'm unironically doing worse with it being worth 16.5k now lol

>>53095512
Its not even close to as bad as 2008
>Housing has to crash, -50%+++
>Goldman or similar needs to fail
>Massive mortgage defaults
>Total failure of retirement funds/401ks

>>53095512
short term not as much of an issue. There is still lots of fluctuations and messy stuff ahead of us, but this will flatten out within a year or two. Long-term this is far worse though. Not doomsday bad but we are in for some societal suffering. If you know how things have been for Italy and Japan the last 30 years then you get what it will be like for the rest of the world for the next 30-40 years. A slow and steady decline that's going to hurt for everyone

>>53098728
yes but in 08 the manufacturing and construction sectors were hit hard as well. unemployment was up around 8% at its worst. its only been around 4% during these times.

>>53098730
I remember that shit extremely well. Got tagged teamed by the corporate media, neoliberals, conservatives, and the police all at once.

>>53095512
Lol 2008 was a lot worse.

>>53098135
They were the only major bank that had to do a reverse split to stay listed on the NYSE.

>>53098719
The giga bailout happened in March 2020. I think this is why there have been no bailouts yet. If someone does end up needing a bailout - hoo boy. Gonna be a lot of blood in the skeets.

>>53098420
Meanwhile you take Putin's dick

>>53098873
Oop, better pic

>>53098760
Also, like others said, there needs to be massive lay offs.

>>53099004

Which is slowly happening now. Just wait the following years. It will be a slow bleed layoff.