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That's a very odd view. The bankers did ruin the economy, because an economy with a bubble + the ensuing shock is far worse by most metrics than one where the b

That's a very odd view. The bankers did ruin the economy, because an economy with a bubble + the ensuing shock is far worse by most metrics than one where the bubble never happened in the first place.

wolfgke 9y ago
> because an economy with a bubble + the ensuing shock is far worse by most metrics than one where the bubble never happened in the first place. Only for those who invested directly or indirectly into the bubble.
- claudiulodro 9y ago
  What about the people that started their career right after the bubble popped? There is a large segment of the population that has had its career and income dramatically stunted because they entered the workforce right after the housing bubble popped. "You can even see this in the statistics, a divot from 2008 to 2012 where millions of jobs and billions in earnings should be. In 2007, more than 50 percent of college graduates had a job offer lined up. For the class of 2009, fewer than 20 percent of them did. According to a 2010 study, every 1 percent uptick in the unemployment rate the year you graduate college means a 6 to 8 percent drop in your starting salary—a disadvantage that can linger for decades. The same study found that workers who graduated during the 1981 recession were still making less than their counterparts who graduated 10 years later. “Every recession,” Spriggs says, “creates these cohorts that never recover."[1] [1] http://highline.huffingtonpost.com/articles/en/poor-millennials/ http://highline.huffingtonpost.com/articles/en/poor-millenni...
  - wolfgke 9y ago
    > What about the people that started their career right after the bubble popped? These belong to the group that I called "[those who] invested indirectly into the bubble".
    - deleted 9y ago
      [deleted]
  - rb808 9y ago
    I agree they had bad timing, the original question though was are those people worse than normal - or just normal and the people who graduated 5 years earlier were unusually lucky.
- blindwatchmaker 9y ago
  Economic shocks, espescially those on the scale of 2008, affect far more people than the ones involved in the bubble.

wolfgke 9y ago

> because an economy with a bubble + the ensuing shock is far worse by most metrics than one where the bubble never happened in the first place. Only for those who invested directly or indirectly into the bubble.

claudiulodro 9y ago
What about the people that started their career right after the bubble popped? There is a large segment of the population that has had its career and income dramatically stunted because they entered the workforce right after the housing bubble popped. "You can even see this in the statistics, a divot from 2008 to 2012 where millions of jobs and billions in earnings should be. In 2007, more than 50 percent of college graduates had a job offer lined up. For the class of 2009, fewer than 20 percent of them did. According to a 2010 study, every 1 percent uptick in the unemployment rate the year you graduate college means a 6 to 8 percent drop in your starting salary—a disadvantage that can linger for decades. The same study found that workers who graduated during the 1981 recession were still making less than their counterparts who graduated 10 years later. “Every recession,” Spriggs says, “creates these cohorts that never recover."[1] [1] http://highline.huffingtonpost.com/articles/en/poor-millennials/ http://highline.huffingtonpost.com/articles/en/poor-millenni...
- wolfgke 9y ago
  > What about the people that started their career right after the bubble popped? These belong to the group that I called "[those who] invested indirectly into the bubble".
  - deleted 9y ago
    [deleted]
- rb808 9y ago
  I agree they had bad timing, the original question though was are those people worse than normal - or just normal and the people who graduated 5 years earlier were unusually lucky.
blindwatchmaker 9y ago
Economic shocks, espescially those on the scale of 2008, affect far more people than the ones involved in the bubble.