Comment on Panic! on the trade floor
BakerBagel@midwest.social 1 week agoIdk 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.
theUwUhugger@lemmy.world 6 days 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 6 days 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 5 days 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
BakerBagel@midwest.social 5 days ago
Europe is in the midst of a massive housing crisis.
Canada has possibly the worst housing crisis in the developed world
Korean homes are 3x as much in the major cities as smaller rural cities.
Housing has been consuming a larger and larger chunk of people’s incomes for the past 15 years. That’s a cost of living crisis. Because the 2008 crash allowed the wealthy to pick up all the pieces and restart the game using the exact same rules. Nothing changed, nothing improved, neoiberals just painted over the foundational cracks of our society and said everything is fine now. The finacialization of every aspect of our lives has only become more extreme, so i would definitely say the 2008 crisis was never actually solved.