I dont understand why ppl think the 2008 crash was so bad. Wasnt the dip at the beginning of COVID worse??? Please educate me 😭

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It wasn’t that bad

Lol, ok

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Oh boy lol how old are you?

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In 2008, half my company got laid off and most didn’t find stable jobs for years. Also, foreclosures on homes was ridiculously high and you couldn’t sell your home for what you bought it for, not even close. It was baaaaad.

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Gen Xers and Millennials right now

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Yeah, I had to take a job with a shady tax evading asshole who paid me as an independent contractor because he could get away with taking advantage of me that way when I was lucky to get any job at all. But when I managed to get a better job I reported him to the IRS and he had to pay his share in the end anyway 😊😊

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Ha. The Covid dip recovered and the market hit ATH before dinner. 2008 was a full recession that needed billions to bail out banks and reset the housing market across the country.

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I graduated from undergrad into the middle of it 😅😅

Child, use your phone and google it. There were so many people who lost their homes, jobs, and the economy took a really long time to recover. The reason some jobs still want 6yoe on an entry level job is because of the 2008 recession.

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Pena ajena

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I lost a ton of clients in 08 going under. About 40% revenue in one week. Stopped paying myself for 6 months to avoid laying people off. Stock market was not a factor because I didn’t sell anything. Just thought of the mutual fund purchases as on sale through 401k. The 2001 recession was no box of chocolates either.

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Even top employers stopped hiring from good schools in 08-10. Jobs were few and far between

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I had to get a job at Starbucks fresh out of college bad.

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Aw I hear you, but you’ll get there. I honestly JUST got to what I consider a decent salary in my market this year. It took many years of catching up.

It was BAD. Overheard a conversation on the train back then: “hey, do you know of any [law] positions at your firm? willing to take unpaid internship.. anything. I lost my job a few months ago. Recommended a girl, she was hired, I trained her. My job got cut and she stayed.”

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I’m from SE Michigan and it was really bad. 15% unemployment for us, a lot of my friends moved away, even the city of Detroit was bankrupt lol

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And what caused the 2008 recession? I know it wasn’t a virus.

Wall Street. It’s always Wall Street

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