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Kids that Graduated in 2001-2003 feel the same.... those year sucked. I was a summer intern in 2002, and saw half of my group get laid off. As an intern I was

Kids that Graduated in 2001-2003 feel the same.... those year sucked. I was a summer intern in 2002, and saw half of my group get laid off. As an intern I was cheap enough to keep around, until the economy improved in late 2003, when I got a full time offer.... 2004-2007 were good, then bamn another recession... then this.... The way money interests/lobbyist are running the economy and country, It is almost given that every 10 years there will be a major recession. While this time it was a virus triggering it, the economy has been over-heated for a while, and the crazy thing is that the government was running crazy deficits in a hot economy, instead of saving for the long term. (i.e. the feds and the goverment, have been 'juicing up' the economy for short term re-election goals).

tyre 7y ago
To the latter criticism, this has nothing to do with governments pumping up stocks. It’s a pandemic that could put a third of workers out of jobs because everything is shutting down and the economy is coming to a halt. It’s not like 2008 when complex financial products f—ed it all up. (Yes there are still bad policies, yes there is corruption, yes, yes etc etc etc but the point is that this isn’t “part of the boom and bust cycle.”)
- Judgmentality 7y ago
  You have valid points, but the boom and bust just exacerbates an already bad situation by compounding the natural disaster with a market primed to fall already. So it took a bad situation, and made it even worse. As to all how this is going to play out, who knows? I'm not as optimistic as others that it's just going to be a couple months and suddenly everything is back to normal.
- xapata 7y ago
  We could have been like Taiwan and Japan. Seems like a mask mandate and diligent testing with quarantine of infected only is sufficient. Would have saved a lot of headache. And lives.
  - rusticpenn 7y ago
    I heard the opposite about Japan. Are they really doing exhaustive testing?
    - xapata 7y ago
      It's hard to know which sources to believe these days.

tyre 7y ago

To the latter criticism, this has nothing to do with governments pumping up stocks. It’s a pandemic that could put a third of workers out of jobs because everything is shutting down and the economy is coming to a halt. It’s not like 2008 when complex financial products f—ed it all up. (Yes there are still bad policies, yes there is corruption, yes, yes etc etc etc but the point is that this isn’t “part of the boom and bust cycle.”)

Judgmentality 7y ago
You have valid points, but the boom and bust just exacerbates an already bad situation by compounding the natural disaster with a market primed to fall already. So it took a bad situation, and made it even worse. As to all how this is going to play out, who knows? I'm not as optimistic as others that it's just going to be a couple months and suddenly everything is back to normal.
xapata 7y ago
We could have been like Taiwan and Japan. Seems like a mask mandate and diligent testing with quarantine of infected only is sufficient. Would have saved a lot of headache. And lives.
- rusticpenn 7y ago
  I heard the opposite about Japan. Are they really doing exhaustive testing?
  - xapata 7y ago
    It's hard to know which sources to believe these days.