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> So it sounds like we didn’t learn much from 2008. Will we learn from 2020? We learned a lot from 2008. This is a different ball game. There is plenty of cre
by justinzollars 7y ago
> So it sounds like we didn’t learn much from 2008. Will we learn from 2020?
We learned a lot from 2008.
This is a different ball game. There is plenty of credit today. This is a supply shock. There are not applicable lessons from a credit crunch to a panic/virus induced supply shortage.
- Apocryphon 7y agoAren’t there at least applicable lessons for dealing with an economic crisis regardless of the direct causes? Or preventative measures to take during a boom time? Because it sounds like once again irrational exuberance has caught up with us and we’re about to reap the whirlwind of lack of protection.
- filoleg 7y agoThere are none, because “economic crisis” is too large of a category to have a one-size-fits-all universal solution for dealing with it. Every type of “economic crisis” has its own cure, like a virus in a way. And the kind birthed by 2008 is as far as possible from what we are dealing with right now.
- justinzollars 7y agoI think this is different than irrational exuberance. Maybe one could look to the 1970's oil embargo for clues on how this will play out. I really do not know. But I do know 2008 is not a good comparison because the circumstances are just so different.
- throwaway88483 7y agoIt’s possibly about to be a demand shortage soon as well.