/biz/ - Business & Finance

p gay tbqh

>>8015299
You have to be 18 to post here

I remember how many poor people were driving around in Escalades during the Iraq War years before it.

you didn't? how fucking old are you?

>>8015299
Are you teen? Every normal bizer remembers 10 years back... are you brainlet

>>8015299
>People who lived through the 2008-2009 recession, what was it like?
OP age's age
o18 -110
u18 +100

>>8015299
No big deal for me.
Basically they bailed the bankers out and kicked the can down the road. Next time it will be much worse.

australian but my family got absolutely just'd and havent recovered.

what da heck what da heck what da heck what da heck. like this <

>>8015351
>>8015364
>>8015345
I’m 24, about to graduate college and wanted some insight from adults in the workforce during that time.

>>8015428
What you expect? People lost jobs, wages there cut, way to many loans, which led to bankruptcy. Nothing out of ordinary for a crash

>>8015428
from personal experience the workplace became very strict. people who had minor fuckups in the past were the first to be let go for any little thing
zero impact on pay

>>8015299
People thought the entire economy was going to collapse. As in, credit/debit cards don't work, banks closed, no gas at the gas station, no food in the grocery stores. The Fed and all the central banks of the world prevented this by cooperating and printing $Trillions and giving it to the banks.

None of the root causes were solved, and the Fed and other central banks have proven that they can keep things going by printing money, so they will probably keep printing money whenever there is a financial crisis.

>>8015299
I was a kid no but honestly, why didnt anyone buy the stock dip though.

I lost my awful job and went to art school and developed a drug habit courtesy of taxpayers.
Shit was so cash.

There was no recession. Just people spending less.

Didnt Avatar break box office records during the worst of the recession?

>>8015610
And why shouldnt we?

U.S. money is backed by our military.

Ok

>>8015299
Like shit. I graduated from mechanical engineering around dec of 2009; by 2010-2014 all the companies were asking just to many faggotry things just for intenrships in their shops. Things like "MBA required or Masters in Quality is a plus" seen all around the job tablets. I got lucky in 2011 because entered at GE aviation... dude! What a shitplace! Feminism imposed like hell by HR. I've never imagined that a fortune100 were so contaminated by that crap. I did well but entered in a nonsense "workplace comma" because they replaced about a half of my male coworkers in the team that i used to work by females and pajeets. Not against women or other races, but to merits and efficiency (i consider myself as a true capitalist). In the end the metrics gone to shit but "muh feelings" were important. Anyway, i left that crap of a company and started a business. Now doing good. Better pay and my own money. Finished a masters in 2017 and never felt so good.
Protip: acquire abilities and knowledge and run a business by yourself; every sweat and every stress is to yourself at the end of the day and not to a stupid manager or a board of people locked into a tower of crystal.

>>8015641
this sounds about right.
It was kinda bad and things still aren't what they used to be.

>>8015299
Not much. It was mostly statistics on TV, but my country was pretty spared as we got only -3% of gdp.

Norwegian here, didn't notice much difference

I had just finished university, ready to join the workforce.
It felt like getting gang-fucked by every rich boomer on the planet and filled me with a rage to fuel the fire that will burn every last one of them to the ground.

>>8015299
was wack - we lost our house with massive layoffs that followed, I collected unemployment for 2 years looking for job... took literally that long for job market to recover

In my country we had our own recession soon after that so it feels like 2008 never ended

>>8015729
Because eventually other countries call our bluff. For example, Russia and China have been stockpiling gold for over 10 years, and have been making trade deals with each other and their neighbors to settle trade in Rubles, Yuan and other non-Dollar currencies. The US can't use it's military against Russia and China with causing a war that could exterminate billions of people. The US tried to use it's military against shit-tier countries like Iraq and Libya, but even that has proven to be extremely costly in many ways, not just financial.

mcdoubles were $1

>>8015817
But you're implying it was an all out war. They were just military interventions. On fact, we haven't been at war since WW2. Everything else has been just basic military interventions.

China & Russia know this. I see them stockpiling weapons more than Gold...

>>8015796
this.

I had just moved to LA from Detroit at 18 years old. Couldn't secure loan for the expensive colleges I was accepted to. No mom and dad to help with money. Had worked 2 jobs when shit hit the fan and literally had to collect unemployment for 16 months solid while selling my fucking plasma twice a week and selling water bottles at the beach to pay rent in a roomshare - and was almost homeless twice.

Now I'm a millionaire so it all worked out, but if I had to do it again at this point I don't think I'd have the energy.

I actually panicked and bought physical gold at ATH

sold at a dollar loss later

still made gains cause my shit countries currency caved in the meantime

>>8015852
Go ahead and fool yourself with semantic games.

>>8015883

>>8015499
PRetty much. I was fairly scarred by it desu. The attitude of people now is insanely entitled; wanting pizza Friday’s, office party every month, etc. now girls leave in the middle of the day to get their nails done. You’d be out the fucking door if you tried that then. Also a hint of making anyone’s day more difficult by being a drama queen/ equivalent sjw and you were gone.

All those hipsters coffee shops and bars and restaurants were no existent. People drank and ate st home, and certainly didn’t pay more than 10 dollars per meal.

I didn't feel the recession at all, it was funny watching all the upper middle class panicking just because they had to start looking at price tags before buying shit

>>8015299
Barely any change at all from the norm. I lived in a country where the recession was handled quite adeptly by the finance ministry.

>>8015767

Well duh, Norwegian here, that's because we were barely affected.

>>8015882
BUY HIGH

SELL LOW

>>8015876
Howd you become a millionair

>>8015852

>military intervention is not a war

>>8015957

>>8015299

How fucking young can you be it wasn't even 10 years ago...

>>8016140
dont waste your time on brainwashed americans

the job market was in shambles

>>8015299
I was a year and a half away from graduating college with a bachelor's in Manufacturing Technology. Needless to say the job market tanked, and by the time I entered it there was a backlog of graduates competing for very few jobs. Fucking sucked, felt like I had been betrayed by my country. I didn't feel like I could trust any advice from anybody after going into college under the old paradigm, and graduating into the new, much shittier paradigm. I managed to find a job designing a product for sixteen.fucking.dollars an hour, a whole dollar more than the retail job I worked to support myself through school, and eventually got laid off when the project was complete. Lost my apartment, sold drugs for a few years, lost another place when that fell through, was homeless for 6 months doing shit jobs (literally cleaning toilets at one point), then managed to become a wildland firefighter. That's the thing about forest fires, you can't outsource them to the third world, it's job security.
Overall, the recession hit my life in a very crucial point, now I'm 33 and just now starting to get things back on track, but I'm afraid that I'm just too bitter, angry, and fucked up to really salvage much at this point. Crypto is my last hope of regaining all that opportunity cost, it it doesn't work out I might an hero.

>>8015299
Pretty sick, remembered that we were standing with a bunch of guys next to the Bloomberg terminal when shit hit the fan.

Luckily I worked on a long term contract , so I just sat it through. While people left and right got fired. People where genuily scared and stopped spending.

I was always smart with money, but after 2008 I decided I should step up my game. Now I'm saving and investing like a mofo, waiting for the next correction and buy everything in sale.

>>8015299

> Banks about to implode
> Various world governments bail them out
> Lefties forever furious about this, seem to think the banks collapsing would be a preferable option

>>8015796
Same here. I didn't have it too bad- no loans and could work at my dad's small business. A lot of friends were not nearly so lucky.


I remember my history professor in 2006 or so lecturing about the creation of the modern banking system. At one point he asked if any of us could share a personal experience in how difficult it was to secure credit at our age, and was shocked to realize that every student there had piles of zero-interest credit card and adjustable-rate loan offers.

But he assured us that this couldn't be a widespread problem as "that would risk a catastrophic meltdown and they would never do that."

It was so bad it spawned this little dumbass in reaction

>>8015852

t.14 year old

tell us what separates the iraq/afghanistan wars from other land wars. why is one a military intervention and not a war. i hate stupid fucking kids like you who run around screaming ACKSHALLY at everyone who gives them the time of day. you're flat out wrong.

>>8016130
Crypto, but already had a high paying (180k/year) job. Instead of downpaying a house in 2015 went balls deep in ETH.

>>8016155
who's holding the gun

>>8016269
Me. You're the guy with pink hair.

>>8015299
Look around and you'll have your answer. /biz/tards are still trapped in 2008

>>8015299
I now live in the middle of the ghetto and drink myself to sleep every night for the past 4 years

>>8016189
There it is hahhahahhahah

>>8016261
It wasnt even worth congress time to declare war haha. All they wanted to do was take down Sadam and cripple the taliban.

>>8016345
>>8016379

>"military intervention" is not a war
>what is an euphemism

I bet the next thing you're going to say is that "civilian casualties" are not "civilian deaths"

>>8015299
Shit hot non event of the century. It wasn't a recession, it was a farce where the books were cooked and only a few people in West bumblefuck USA felt any heat because they spent all their money like moon crickets. The end.

Belgian, nothing special happened

>>8016484
More like collateral damage. You do know people we were after would use civillians as human shields right?

They purposely hung around schools and hospitals knowing it would be hard to strike those areas.

>>8015299
>everything goes on as ever
>have to read about trillion dollar gibs to the (((banks))) for years

Greatest theft in history and no-one gave a fuck.

>>8016345
>>8016379


lol how old are you moron? jesus christ pol is literally retarded

>>8016553
85

I went from having my own little hvac business to losing every thing and living in my truck in the back of a wal mart parking lot in Orlando. And there was quite a few other cars back there doing the same thing.

>>8016027
They will be the people that kill themselves next crash

>>8015632
I think a lot of people thought it was the death of the market, for ever

>>8016527
>More like collateral damage.

Another euphemism. Keep the mental gymnastics up, though.

>You do know people we were after would use civillians as human shields right?

Yes, and I don't expect a war to not have civilian deaths, because I'm not retarded. My point is that you're fucking retarded for not recognising an euphemism for what it is, and a military intervention IS a euphemism for war.

It tells me something that people like you have or will have voting rights, when you show no awareness of even the most basic forms of rhetoric.

>>8016573
not surprising only a boomer or the son of one would be this fucking stupid

>>8015876
Fuck mate. That's hardcore . I had to fight for money during the recession. But I like fighting. Hahaha. Crypto millionaire now as well..maybe the recession was a blessing ?

>>8016612
Call it what you want friend. You are awfully retarded if you think we went all out, used our full potential for these "wars".

My argument is that we didnt even try with these armed conflicts it was more like policing.

>>8015299
desu it was made out to be worse than it really was. i didnt notice anything major but i wasnt a mortgage nigger. only thing that really changed was that lazy unemployed shits now had an excuse. i must have heard "i cant get a job because of the economy" a billion times

>>8015299
I was thriving.

>>8016685
Thats how I remember it too. My fathers small business was actually thriving. A bunch of lazy assholes got laid off because people were more careful with their money, thats about it.

>>8016677
>You are awfully retarded if you think we went all out, used our full potential for these "wars".

>you must be in a state of total war for any military conflict to be considered a war

Yes, you actually are this retarded. I guess the Boer WAR wasn't a war after all because the British didn't put their entire fleet and military into the conflict. Jesus, how can historians be this wrong? This /pol/tard who left his containment board proves them all wrong!

Pull your head out of your ass, you fucking cretin.

>>8015299
I was pretty lucky, i happen to start working for a new company start of 08, they did pretty well through the recession, boss was smart and happen to get a fair few government contracts before hand, ended up staying there for 7 years before resigning.

>>8016642
the funny part is that people I worked with assumed I was some trust fund kid because everybody younger in that industry in LA seemed to have financially secure parents who would (((support))) their kids with rent etc.

My rate was always aggressively higher than many people I worked with but I was working from a deficit - as I had come from a single mother household. Oy vey.

>>8015299
best.
times.
ever.

anything worth investing in was going down in price.

>>8016724
Don't forget the Pearl Harbor military intervention. Limited airstrikes and no boots on the ground = no war

>>8016724
>Counter terrorism = War

okay buddy

>>8015299
We need to strap in and not because we're going to the moon, but because we are going to the depths of hell and it will make 2008 seem like knee scrape. This is going to be a complete fucking bloodbath.

>>8016776
>>8016782

Yeah, I mean, the US wasn't even at war with Japan because they never invaded the mainland, and the "conflict" was just some naval skirmishes and bombing runs.

>>8016496
This.
The recession was essentially hearing everything sucks every night on the news, then going to the mall and seeing more people than ever.

>>8016776
But congress actually declared war at that time...

You had some money saved for retirement, some stocks, yada yada. You had a job some savings, a nice house, things seemed good. Some of your friends got laid off and they're having trouble getting back on their feet again. You help out as best as you can. You're not really paying attention. After a bit, you hear the talking heads talking about a bad job report. And negative GDP? Then another bad report. And another. More layoffs. Then you get laid off. That's fine, you can find another job, you're not like those idiots. Then the stock market tanks. No one is hiring. You go on unemployment. It's not enough. You dip into your retirement finds, sell stocks at the bottom. If you don't, your house gets repossessed. You start applying at McDonalds even though it won't be enough to pay your bills and you're massively overqualified. You interview next to your friends who got laid off two years ago. Eventually you get a job making 75% of what you once did. You're still working there today.

In Russia it was a really good time. Abundance of white-collar jobs, where you surf internet and do nothing. Rapid growth of computer technology, girls who were into emo and metalcore, golden age of russian imageboards, broadband internet (existed for years, but there were many more providers), piracy was rampant, new music, new vidya, golden age of MMOs, economy has finally stabilized after the cataclysm that was caused by Yeltsin (major currency in the country was US Dollar before!), cheap and tasty food, etc, etc.
I might be off with the timeline, because great times didn't start in 2008, but a few years before. But it still was pleasant to be alive those days. Shortly after, it has all gone to shit.

>>8016496
t. 13 year old

>>8016677

you never even served in the military or in government during these times of war, how the fuck do you know what "the full potential" of the us military is?

im so sick and tired of you /pol/ 16 year olds who know just enough terminology from google searches to convince people you know what youre talking about. you don't at all.

>>8016930
You really think we used our full potential of our military during Iraq lol

>>8016831

>The Iraq Resolution (formally the Authorization for Use of Military Force Against Iraq Resolution of 2002,[1] Pub.L. 107–243, 116 Stat. 1498, enacted October 16, 2002, H.J.Res. 114) is a joint resolution passed by the United States Congress in October 2002 as Public Law No: 107-243, authorizing military action against Iraq.[2]


>The Authorization for Use of Military Force (AUMF), Pub. L. 107-40, codified at 115 Stat. 224 and passed as S.J.Res. 23 by the United States Congress on September 14, 2001, authorizes the use of United States Armed Forces against those responsible for the attacks on September 11, 2001 and any "associated forces". The authorization granted the President the authority to use all "necessary and appropriate force" against those whom he determined "planned, authorized, committed or aided" the September 11th attacks, or who harbored said persons or groups. The AUMF was signed by President George W. Bush on September 18, 2001. As of December 2016, the Office of the President published a brief interpreting the AUMF as providing Congressional authorization for the use of force against al-Qaeda and other militant groups.[1][2]

>>8016831

Now you are moving the goalposts, but also ignoring the fact that undeclared wars happen all the time.

The Vietnam War was a war, yet it was never declared. Congress doesn't need to declare shit for it to be a war. The only thing an official declaration of war does is make the US officially recognise that they are at war, and bring all the political and economic baggage with it that a war declaration implies.

>>8016677
The middle eastern conflicts we've had, whatever anyone chooses to call them, were severely taxing. Certainly not in casualties, neither was the Vietnam war in that sense. Significant costs were incurred in military spending and destabilization of the region, which had far reaching implications that we are still seeing develop. A military conflict on that scale was indeed not so "dangerous" if analyzed from a perspective of military power. A conflict with larger foreign powers however would prove crippling to the US. Yes we boast a massive defense budget but the insurgency scenario of those smaller conflicts is not scalable to a full out war. Our time in Iraq cost us multiple trillion despite the relative ease of conflict and the differential in power. From a quick analysis it seems the US military is inefficient and suffers a severe issue of diminishing returns with a not so high cost to output ratio. If it takes trillions to occupy a country of goat fuckers, what will an actual war with actual opponents lead to?

>>8016951
you're such a fucking brainlet and clearly don't know what youre talking about because you picked iraq to use as an example instead of aghanistan.

the US military rules of engagement in iraq were indicative of us using our full military potential lmao. afghanistan was a much more restricted environment because of counter insurgency tactics at the time.

look, we know youre 14, the only other people youre fooling are other 14 year olds. you are not a soldier/marine/sailor/airmen nor serve in any public capacity. you are absolutely making things up.

>>8016575
Nice ID, so did you got out of the truck? If yes how is your life now, and what have you learned?

>>8015632
it's a good question and a good answer by the guy basically people didn't expect Obama to happen and nonstop QE by the fed ever since.

>>8015340
this

>reading about the last recession
>TFW graduating in 2 years when the next literal depression will happen

h-hold me

>>8015299
i was in school. i don't remember it effecting me

>>8017478
>effecting
Guess again...

>>8015299
i was in university in europe studying bank and finance, we learned about the bailout system for banks, a bank has to give X amount to the funds every year

i had to redo the course when the crisis hit

next year the sylabus was totaly different cause that "bank fund" got emptied over night and all the governments had to bail out the banks, i lolled

>>8017493
Affecting?

I can never remember this shit.

>>8017514
Affect = Verb
Effect = Noun

>>8016985
I hate to get involved with people arguing on the internet, but there is a major difference between military occupation and war between functioning armies.

>>8015299

back in 2008 i got laid off and was forced to sell my stock portfolio at a 50% loss to cover my debts and bills for about 1 - 2 years. I expect a massive dip sometime in 2020 - 2022 so I have already started to liquidate my portfolio in order to be tax efficient

>>8015751
>by 2010-2014 all the companies were asking just to many faggotry things just for intenrships in their shops. hings like "MBA required or Masters in Quality is a plus"

kek this... fucking everywhere

>>8015767
I'm Danish and we were affected like others say - layoffs, big tightening of budgets which leads to giving employers a great upper hand. I moved to Norway for work and now I'm still here enjoying the cold.
Always prepare for a rainy day.

Honestly most Norwegians have no idea how bad it can get. My boss would get upset if a window or door was open at the workplace because that's heat and money flowing out. Here the garage port can be broken for days without anyone noticing.
There is heating in the floors fucking OUTDOORS!

>>8015299
I was poor.and I hardly remember a change. I was told about the recession as a fact later. While it was happening I was just being poor ans unable to get a job.

>>8015632
Some people did. Most people didn't have any money. It's fine to say you want property, not so fine if you can't get a loan

>>8016677
>more like policing
HURR Bin Laden is hiding in Afghanistan! We gotta go in and catch him! And never fucking leave! Oh he's in Pakistan nvm that's fine

>>8018035
>Honestly most Norwegians have no idea how bad it can get.

I'm Norwegian and I fucking hate other Norwegians. We are literally the most sheltered group of people on the entire planet. No-one here realises what a bad economy looks like, and everyone is so fucking habitual and content with the current state of affairs that barely anyone takes risks for new opportunities, don't see any need to change anything about the current society and every single shitkid is a spoilt fuck who lives on their father's fat oil checks. People here have so much money that they literally don't fucking care anymore.

Some examples:

>Tine has regulatory powers over the dairy products market for whatever fucking reason
No-one gives a shit.

>Government wastes fucking billions of NOK on F-35 multiroles, which is completely unnecessary for self-defence, and is only being bought so we get drawn into more NATO wars
No-one gives a shit.

>School system literally the worst in Europe, producing the worst results on the continent
No-one gives a shit.

>Telecom industry a complete duopoly
No-one gives a shit.

>Collusion and price manipulation by the 3 big grocery wholesale groups, and exclusion of small competitors
No-one gives a shit.

>>8015632
Some did. But the vast majority of people had no idea where the bottom was. Just like in crypto.

Our country could buy a lot of things cheap from the USA because their dollar wasn't worth much. It was great.

I lot of guys that had construction businesses by me lost everything and became drug addicts

>>8015299
It was pretty bad. My area (NM) wasn't hit too bad because we have a low cost of living I guess, but i was working for citi doing debt collection on retail lines of credit. I made good money at the time, but I saw so many people that had either just bought a huge house they couldn't afford and financed 5-8 grand worth of furniture to fill it with. Same for people who were flipping houses and got stuck with one they couldn't sell.

People constantly being scared of getting fired. There was just this level of uncertainty in the air. My father lost all his retirement on real estate during this time as well. It was rough.

Lost my job, spent the entire Obama years drinking whisky living on the streets and hustling.

not much different than any other point in the last 20 years

if it wasnt for the recession, we wouldnt have bitcoin or any other pajeet coins this board adores.
it was a good thing

>>8015299
>2008-2009
Did you mean 2008-2019?

>>8018335
>People constantly being scared of getting fired.

well nothings changed and people are still scared of getting fired. unless you're a turbo chad entrepreneur who can do anything, most don't have a job for life these days

>>8018355
this

>reading about the last recession
>TFW graduating in 2 years when the next literal depression will happen

What the fuck do I do?

>>8018643
Prepare to either get lucky and work until burnout or become disillusioned and bitter.

>>8018643
Hopefully for me it'll be a good excuse to mooch off my parents and become a NEET since they have a lot of money.

>>8018643
Don't waste your time or money in college just to end up working in retail/fastfood. If you have to wage cuck do manual or skilled labor, they all pay better than flipping burgers or serving coffee.

>>8018643

sell OTM puts and buy ITM puts at the same time. Keep rolling until market declines by -90%

>>8018643
get ready anon

It's STILL fucking going on.

Are you people blind?

>>8015299
When I was 16 I had other problems than this "recession".

>>8018744
like prospects of getting laid?

>using carriers to provide air superiority by destroying opponents air defence and fleet is counter terrorism and not a full out war
americans are so full of shit

>>8018780
My first time just so happend in 2008.

>>8018676
>>8018706
>>8018717
Well I'm finishing quant finance so hopefully it'll be OK. If not, I'll stock on kneecaps beforehand

>>8018643
Pick a job you will least likely get laid off. I'm a paramedic. Good luck a. Replacing my job with a robot b. Stopping people calling 000/911 because they're dying. Have a back up plan, scatter your investments into cash, gold, crypto, silver. Good luck

>>8018879
Can your job be automated? If your answer is not yet, how long until?

>>8015299
you didnt feel any of it in middle class germany

that is why middle class germany had to pay for the recession, i.e. complete implosion of both state and economy in portugal ireland spain italy greece

wow, I wish I was already alive back then, it must have been interesting. By the way people who lived throug the December 2017 bitcoin bullrun, what was it like?

>>8015299
I was wagecucking for $12 an hour and in school and it made literally no difference in my life at all other than having to hear everyone complain about the economy every other day. Hope this helps!

>>8018495
This. The recession never ended, it's just that the ivory towers wanted to prevent a full on depression.

>>8018879
if you've got good grades and couple internships you'll be fine as a quant.

pretty confident hte next major correction/crash will bring back a lot of active investing as you won't be able to mindlessly buy the index and get your 7% pa real return.

>>8018744
Did the hrt work though?

>>8015379
Then you got lucky. Most people got just'd, even if they weren't bagholding all the debt. Fallout was crazy.

But, from it emerged Satoshi. And here we are, another recession looming. Let's see if his plan works eh anons? Fiat etc crumbles, and in panic everyone dumps into cryptos to weather the storm. We get rich, Global economy bunkers and survives. Hopefully.

>>8018879
I miss the kneecaps meme too, friend.

>>8018258

>>8018932
Yes it will be sooner or later, but I thought I'd automate the job, not the other way around.

>>8018968
Both kinda mediocre, but there aren't a lot of us in me country (40 a generation).

my parents divorced in 2008, my dad got ultra cucked

>>8017841
Ok, the same could be said of the American revolution, it was guerrilla fighters vs the British army, guess what the brits got their asses kicked. Just like how the west got btfo in Afghanistan and vietnam, the soviets, us , and EU all tried to beat the arabs, the French and Americans tried to beat the gooks, every time the guerrilla force won. And btw, America dropped more bombs in Vietnam than were dropped in all of ww2, if your excuse is "we didn't really try" you are a brainlet.

>>8018922
can we get a paramedic story?

I was such a neet back then I didn't even know there'd been a recession til a couple of years later.

>>8015348
>I remember how many black people were driving around in Escalades during the Iraq War years before it.
ftfy

>>8015299
It was hard to get a job. I was unemployed for like 4 years straight. Lived on ebt. Played vidya all day. Pretty comfy tbqh.

>>8015299
Lack of jobs. People being desperate and willingly being exploited just to scrape by. Lots of underpaid workers and the change in people's attitudes and sentiment. Seems this was the turning point for this century.

>>8015299
Pretty sweet.
Only had to work for 15hrs a week and the government paid me the other 25hrs. Then I collected EI payments after that program. A few thousand dollars for doing nothing but playing video games living at my parents. Sweet deal.

>>8015348
>>during the 2008 financial crash millions of americans lost their homes. most never owned these houses and only were able to lease because of cheap credit and their inability to understand personal finance

>>8019685

What? Did you not go outside or listen to any news? Interact with coworkers/students or something? I find this hard to believe. If true you had to have been cocoon mode or ultra unaware

>>8015388
how? did you "buy" a house for a million thiking you could pay it back with interest?

>>8019745
>>8019767

How does ebt/welfare work? Is life really this comfy as a neet?

>>8019793
I was gaming...

>>8015632
because nobody had cash in the bank, all money was tied up

>>8015729
>U.S. money is backed by our military.
US money pays the military, If US money doesn't buy what the military men want you don't have a military. You need to produce things still.

I continued to deliver pizzas and smoke weed all day and live in my dank cheap ass apartment. I had only been dating my wife for a couple years so she was still having sex with me. I think I heard boomers bitching about it but I don't remember cause I was high all the time.

>>8019793
I was unaware. In fact I only found out in 2010 when a friend noticed and said he heard the economy might be crashing. It blew my mind.

>>8015299
(we havent recovered, its why unemployment is so crazy high)

>>8015817
yea the world domination of usa is over. militarily, economically and, most notably to the general public, in a political sense. sure, you can carpet bomb countries to the ground, but you cant force russia china and eu to join an embargo against whatever nation pissed on your rug.

I graduated college in architecture as soon as it happened and couldn't find a job ended up at a bank investigating fraud with law enforcement and organized crime rings instead. When I saw how much they were making on buttcorns I started trading instead of working and saved up enough to go back to school and was about to put in my 2 weeks but then HR found out in September and forced me to resign The HR lady started with "So anon what's 4chan?" I asked if I could be frank with her and told her what I had been doing and told her she should get in too, If she did buy in when I got let go it was around 17k I believe. I moved and am now going back to school for something else.

I was in my sophomore year of high school. I was very fortunate and blessed to be in my situation. My father was a doctor which is basically a recession-proof job. We basically lost half of our money in the market and we stopped eating out. So it didn't really effect me too much. My 529 college savings account could not have been destroyed at a worse time. But I went into the military after high school instead of college so I had some time for it to recover before finally going to college.

But I knew a lot of people who had to leave the private school I went to because their parents lost their jobs.

>>8016211
>you can't outsource them to the third world, it's job security.
You must not live in leaf land, where the government is actively replacing the white population with poo in loos.
https://www.youtube.com/watch?v=5JokUgo5dxY

>>8015751
What buissness did you start? I was in the same boat but never got any big name on my resume

It was really neat sitting with no job/only unpaid internships, bills, gas at $4/gal and your parents going "i dunno lol have you been applying for jobs?" My friends that had jobs only got them through nepotism, so either were OK because you worked for daddy or you were scraping until you had to move back home and become a jr alcoholic. We're still in it, and the pajeets in the market don't help matters, but I learned a lot about finances, even more about people, and it's been nice drinking for fun vs drinking to forget.

My major lingering issue is home buying. I still think homes are over-valued and still have a problem with down-payments, PMI, and closing costs. I can't shake that I'm sinking $12-20k for the privilege of monthly payments while possibly being foreclosed on if the next recession costs me my job. I don't trust the market or that in 7 years I'll be selling the house for profit, even with medium sized renovations.

>>8019935

also can confirm that banks are fucking terrified about crypto most banks use ancient systems or proprietary software ALSO fraud is EXTREMELY profitable if you aren't a brainlet. Keep it under 10k and move the money around 5-10 times and spread it out over a couple weeks you'll be golden anything above that and kyc/aml gets involved 50k> feds will be coming for you. what most fraudsters do is use find a money mule on craigslist and offer them a work at home job, then send them a packet telling them to fill out all their info which the fraudster then uses to apply for a credit card in the mules name then instruct them to buy high end electronics and ship them to another address when the cops come a looking the mule goes to jail. sweetheart scams are popular too where the fraudsters woo some lonely middle aged person telling them they are a admirer or long lost relative, it was appalling how many people fell for this and pretty sad desu

>>8020084
also most fraudsters are niggers

>>8016677
if the us were to use their "full potential" the country would be nuked

it would be very difficult to argue your case if you had nuked Iraq, my friend

>>8016832
you never owned the house you were living in did you?

>>8017935
>Entry Level
>1-3 Years of Experience Required

Motherfuckers...

Owned a sandwich shop in California from 08 to 11.. Turned me from a liberal to a libertarian.

>>8015610
>None of the root causes were solved

We now have Mifid II in Europe and prop trading is basically dead in any of the big banks

Hedge Funds may have just replaced them though as the bad guy hovering around the next bubble

>>8017166
wtf kind of metric is "black inequality" and how do you even measure that?

>>8020291
The people holding the overvalued assets is different, but the financial system is still plagued with overvalued stocks, bonds, real estate, too much debt, etc.

>>8019409
lmao

>>8015299
If you had no money to lose, you ended up in the black because everyone got stimulus checks.

Am I the only one who didn't feel it? I mean yea it was talked about on the news constantly but I never actually felt the effects of that in real life. Or maybe I was just a dumb 18 year old who didn't know shit

>>8015299
When you join the military you won't feel the recession like civies do, but your family outside sure does. '06 to '12 I was in and half of that I wasn't in the mainland US. I could say it saved my ass financially.

i was eating cheez-its for breakfast thanks to food stamps

>>8015299

don't listen to most of this BS.

A lot of companies trimmed staff. Most companies weren't hiring, or were doing it very carefully and in no rush. If you held your job, life wasn't much difference. For most, salaries were just as stagnant during the recession as in the decade before. If you lost your job and weren't particularly fantastic, it was kind of a bitch to get re-employed.

>>8019821
Depends on the country.
In leaf land you must have a certain amount of hours worked and be laid off to collect EI. The amount of hrs needed id dependent on the area's unemployment rate. The higher the rate, the less hours needed to be eligible for EI.

EI is a short term program, it only provides funds for a little while. It's intended to keep income coming while you look for another job. In my case I collected EI then just went to college, was pretty sweet. You're even allowed to go on vacation while on EI, just that you won't get paid for the time you spend out of country.

>>8015299
It was awful. I was in my third year of university, and no one fucking believed me that the jobs were turning to shit. My parents still don't entirely believe me that all that's left is an empty husk. That was the worst part, though, how instead of everyone becoming more empathetic, they pointed all their hatred directly at the poor and the biggest victims of the thing. No one--to this day--wanted to talk about shit heads that straight up disappeared with tarp money, the libor rigging. It was put entirely on the shoulders of "lazy millennials". It's going to happen again soon, and there is part of me that hope this crash is bad enough that each and every person gets to feel the dull ache and long term suffering of poverty. You cunt republicans deserve to starve to death in a barren wasteland.

>>8015299
literally didn't notice it, but anyone whose career was related to housing (real estate agents, mortgage brokers, home builders, developers, etc) they all felt it

didnt notice a ting bruv

It was teh lulz compared to 2003

>>8022505
>real estate agents, mortgage brokers
Jobs that shouldn't exist anymore.

>>8022557
Yeah, i kind of consider 2003-2004 to be the main event and 2008 the aftershock.

I graduated in '09 in IT. Job market was dismal. We have an annual job fair at my school and literally no one was hiring for full-time positions - only internships, mostly unpaid. Fortunately I was hired on at the non-profit where I interned, otherwise I likely would have been moving back in with the 'rents.