Idk how you can say it ended when the fundamental causes of the collapse were never addressed, the perpetrators were never punished, and the middle class continued to shrink. Stocks were pretty much the only thing that improved since 2008.
Comment on Panic! on the trade floor
theUwUhugger@lemmy.world 1 week agoWhile the housing crisis is still everlasting (most significantly in the US, many other countries have started national housing programs) the economic one has ended in the june(?) of 2009!
BakerBagel@midwest.social 1 week ago
theUwUhugger@lemmy.world 1 week ago
The markets recovered, the employment rate recovered. The financial crisis ended regardless of whatever happened/didn’t happened to the perpetrators, benefactors of it
BakerBagel@midwest.social 1 week ago
Replacing salaried desk jobs with hourly wages and no pay increase isn’t exactly employment growth. If everything recovered just fine, why are millennials miles behind where their parents were at a similar age? Homeownership has been steadily declining, savings accounts have steadily been dwindling, and the rate of Americans living paycheck to paycheck has only gone up in the past 20 years. That’s not a recovery, it’s an adaptation to a new normal.
theUwUhugger@lemmy.world 1 week ago
Pls don’t be a tittertale cuck and look up what a financial crisis is! Neither the housing crisis, nor minimal wage not following inflation necessarily continuated, nor possibly exacerbated by a financial crisis
Also while your ever tiny world is only compromised of the us, in the rest of the world the housing crisis is not nearly as severe and their living standards are either stagnating or increasing with very-very few exceptions
PP_BOY_@lemmy.world 1 week ago
Says who? Billionaire investors and regulators who saw an imaginary red line go up for two consecutive quarters? “Peace for our times.” The '08 crash was (is) massive and will be the defining event of the 21st century for future historians.
theUwUhugger@lemmy.world 1 week ago
And you think other parts of the world developing is an issue?
theUwUhugger@lemmy.world 1 week ago
*In the us, you mean?
But an eternally silly statement, even within the your worldview that seems to only consist of the us! The minimal wage in ‘80s was 3.35$, the price of a big max was .15$! So from one hours of working you could buy 21! 20-fucking-1 big macs. In 1990 the minimal wage climbed to 3.80$ and the price of the big mac went up to 2.45$!!! Your living standards nosedived in the 80s!!!
By the end of the red menace (USSR fell apart) your government had absolutely no reason to provide your wellbeing, after all its really not democratic by any standard and it didn’t have to worry about a communist uprising anymore