08 crash

[Anonymous No.54086310]

I was in highschool during the 08 crash, obviously as a teen I didn't have any knowledge economics (my economics class was horseshit) but I don't really remember my mom complaining and struggling, it seemed the same before and after the so called crash, that being said we weren't rich or anything so it's not like my parents held stock. I'd say between lower and middle class, I've seen poverty and we weren't that bad, but we also weren't rich.
I keep hearing about how bad it is, how zoomies are gonna get fucked because they don't know what a recession is like and their shitcoins are gonna go down the drain. Was 08 really that bad?

[Anonymous No.54086401]

>>54086310
Lol no Dad in your picture? That sucks lmao

[Anonymous No.54086422]

>>54086310
3d 18yo Emma Watson is peak kino

[Anonymous No.54086505]

>>54086401
he worked as a regional manager for super shuttle and didn't seem to complain, still bought me shit for christmas and birthday, I really don't remember a difference like we were struggling in 08 more

[Anonymous No.54086635]

>>54086310
>Was 08 really that bad?
Wagies barely got affected unless they lost their job. For 99% of the world, they barely knew what was going on and just kept on slaving away, maybe they heard about it on their favorite news propaganda channel but their life didn't change. The real loss for them came from the inflation due to money printing after the crash and their wages not increasing to keep up.
My advice is to profit during market crashes, you don't get them very often.

[Anonymous No.54086737]

>>54086635
unless they bought into property lmao

[Anonymous No.54086771]

>>54086737
>pic related

[Anonymous No.54086829]

>>54086635
Lost my freelance job after buying an apartment 4 or 5 months before. That meant I had put all my savings towards the apartment so bit of a panic there, as the mortgage was heavy.
Took me exactly one week to find a new job, albeit a bit lower daily rate. Kept working, building up reserves and the '2008 crash' was switfly forgotten. I do remember all the doom and gloom in the papers though, and all the pictures of 'Foreclosed' houses in the USA

[Anonymous No.54086841]

>>54086310
It got impossible to get a loan, but other than that it didn't do much to most people unless they were living on debt.

[Anonymous No.54086889]

>>54086737
>>54086635
well I guess that explains it, parents are definitely wage slaves
I'm not a wage slave but I'm not much better, as a musician I guess I won't really feel the impact too much, okay then.

[Anonymous No.54086958]

>>54086310
Yeah, you kids are boned. Good news is if you stack now and refrain from being a financial nigger, you will be ballin in the 30s.

[Anonymous No.54086959]

>>54086310
As an oldfag that was working then and I can say in all sincerity these past few months have been more difficult for me than the height of the '08 crash.

[Anonymous No.54087063]

>>54086959
workin how? wage slaving or stonks

[Anonymous No.54087100]

>>54086310
As long by as you didn’t have a ridiculous mortgage situation or work in the finance industry (or a closely related sector) then you barely noticed it desu.

The bigger effects came later when social programmes and government budgets were cut to pay for the bailouts.

[Anonymous No.54087243]

>>54086958
i would make tea steeped from emma's essence, not now, but i would have then

[Anonymous No.54087303]

>>54086310

during the 2008 recession i was living in las vegas with my dad having just graduated high school. las vegas was hit harder than most as a tourist destination. my dad lost his job at a casino near the beginning of the 08 recession. he was unemployed for over a year and burned through his savings during this time. he then was diagnosed with terminal cancer and died broke (no health insurance, no savings, no life insurance, etc). i also lost my job at that time (construction) because new homes stopped being built. this is ultimately what propelled me into enrolling at a university

[Anonymous No.54087308]

>>54086310
>Was 08 really that bad?

Unemployment went up massively, especially in the PIIGS states in Europe. We are talking 30-50 percent youth unemployment. Germany used 1.5 trillion euros to bail Europe out and to this day the Target-2 balance is still an unpaid 1.2 trillion euros.

What remains is tough legislation and the question why in the world we have retail banks if 99.5% of all deposits are government insured. At this stage give everyone a gov account that pays the prevailing market interest rate and introduce an online bank account system. All banks should then stop taking deposits and just concentrate on lending / investment banking.

[Anonymous No.54087320]

>>54086422
herbie fully loaded Lindsay lohan>

[Anonymous No.54087338]

My father used to run a small, specialized manufacturing business he bought out from a larger conglomerate as a young engineer which was running really well after some years of 16h days, they were stacked with orders. Then the liquity shock during the 2009 crisis happened, the banks wouldn't entertain loans for the operative business for smaller companies anymore and and my father had to declare bankruptcy. His company got bought off by a bigger competitor and then shuttered. We basically lost everything over night, the house, the cars, during my most formative teenage years we went from a comfortable middle class existence to being poor during my most formative teenage years. My mother had to go back to her nursing job, we would be harassed by debt collectors constantly and my father was unemployed for at least 2 years until he basically took up his college job as a truck driver. I remember having to get up in the early morning before school to help push the car because we couldn't afford to fix it but my parents had to go to work. I had to take up a side job which tanked my grades. My mother became resentful and never forgave my father. Things are better now but only because it was way worse back then.

[Anonymous No.54087375]

All construction projects grinded to a halt. The local titty bar went from an afternoon/afterwork day scene of multiple crews. Dancers making crazy money ($1000 a shift)with hardly any physical contact. By 2010 the club would be empty. The same dancers were giving handjobs, sucking, fucking in the club just to pay their fee for working and to go home with $60. By 2012 home values were 1/2 of 2007 prices.

[Anonymous No.54087405]

>>54086422
Emma peaked in the first Harry Potter

[Anonymous No.54087407]

>>54087320
fuck i already have the image in my head, nature is cruel

[Anonymous No.54087465]

Depends on sector
Dad was in commercial real estate (sometimes clearing 300k/y), basically no work starting almost immediately, lost job by 09, moved in with grandma in 2010 (house had two mortgages and not much equity).

[Anonymous No.54087683]

I had just graduated highdschool and was a wagie at a grocery store. Out of all my applications they were the only ones to give me a job. Hours were cut everywhere and I killed my self just to get 40 hours a week in any department I could so my mom would lose the house after my parents split. Mom developed mental health issues and my father's solution was to hit her.

I think I could spare 20 bucks a week for groceries and got down to 112 pounds. I remember I got offered my first management one fall at that store but they couldn't let me do it till next spring because the budget was so tight their was a hiring freeze until the new fiscal year. I shoveled a 300 yard long drive way by hand because we couldn't afford to plow and we had to choose between heat or electricity sometimes. So we boiled hot water on the electric stove and chopped firewood

[Anonymous No.54087713]

>>54086635
>Wagies barely got affected unless they lost their job. For 99% of the world, they barely knew what was going on and just kept on slaving away.
this was the main thing. i was waging in a "recession proof" sector (healthcare) and nothing changed.
construction, heavy industry, real estate, travel, and manufacturing got wrecked.
if you were newly retiring around that timeframe, your 401k took a 50% cut or got obliterated entirely if you were all in on certain funds.
if you managed to stay alive and not need to cash out, of course, you came out a few years later richer than you ever dreamed...

[Anonymous No.54087838]

>>54087338
I hate bankers and politicians more than anything on earth.
sorry anon, that fucking sucks.

[Anonymous No.54087989]

>>54086310

I think our school went full on picking up pennies mode and that's when we had to reuse every piece of paper to print things out

I think the school district, second or third largest in state was about 8 figures in debt and I'm not exactly sure how they unwound that one but it may have just been gradually riding it out in the form of no renovations, light staffing, and the usual

This is what I remember being persistent outside of my 'world'. If you got out of college you felt fucked as you had loans stacked up and no income coming in.

It wasn't uncommon to hear people talk about how they were also "too qualified" for even basic jobs unless they were willing to dumb down their resume and the bigger part... their wage

Unless you actually had a job like the healthcare anon where your service needed to be performed otherwise no one else got paid, then it was probably the reverse of quiet quitting and 110% effort was the bare minimum without giving HR and accountants any more reason to cut you as an expense.