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"Major, years-long recessions"? In the lives of anyone 25 and under, there have been three recessions, the current 7-month recession, the 2008 recession which l

by paul_f 6y ago

"Major, years-long recessions"? In the lives of anyone 25 and under, there have been three recessions, the current 7-month recession, the 2008 recession which lasted 18-months, and the 2001 recession which lasted 8-months. Recessions in the US almost never last more than a year. https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States https://en.wikipedia.org/wiki/List_of_recessions_in_the_Unit...

save_ferris 6y ago
That may be true academically, but it’s important to point out that everything doesn’t just go back to normal when the textbook definition has ended. The wealth transfer from working class to the rich in 2008 was staggering, and so many people feel that we never really recovered from that crisis.
- selfhoster11 6y ago
  It really felt like the 2008 crisis never ended, it just trailed off into an exponential decay.
  - wonderwonder 6y ago
    This really does do a good job of explaining it, I feel the same way, you just said it better than me.
lucideer 6y ago
> In the lives of anyone 25 and under I think you're mixing up your generational labels. Millennial are pushing 40. Under-25s are typically referred to as "GenZ" or, more colloquially, "zoomers". > ... 7-month recession [...] lasted 18-months [...] lasted 8-months ... Those are some... VERY specific timings. For many, the 2008 recession lasted >10 years. Putting a very narrow specific figure on it needs a little bit of perspective. 10 years is obviously ridiculous as it represents the extreme, but the impact of any academically-defined "18-month" recession is always going to be multi-year.
Humdeee 6y ago
The slow recovery and after effects is also part of that timeline.
thatcat 6y ago
this recession isn’t over
redisman 6y ago
Also depends where you're from. Any country that traded with the Soviet Union had a recession in the 90's
znpy 6y ago
It's also worth noting that basically in the last 20 years the US has been at war with some random part of the world. That's all budget that is subtracted from domestic spending policy. And military budget is frickking huge.

by paul_f 6y ago

save_ferris 6y ago

That may be true academically, but it’s important to point out that everything doesn’t just go back to normal when the textbook definition has ended. The wealth transfer from working class to the rich in 2008 was staggering, and so many people feel that we never really recovered from that crisis.

selfhoster11 6y ago
It really felt like the 2008 crisis never ended, it just trailed off into an exponential decay.
- wonderwonder 6y ago
  This really does do a good job of explaining it, I feel the same way, you just said it better than me.

lucideer 6y ago

> In the lives of anyone 25 and under I think you're mixing up your generational labels. Millennial are pushing 40. Under-25s are typically referred to as "GenZ" or, more colloquially, "zoomers". > ... 7-month recession [...] lasted 18-months [...] lasted 8-months ... Those are some... VERY specific timings. For many, the 2008 recession lasted >10 years. Putting a very narrow specific figure on it needs a little bit of perspective. 10 years is obviously ridiculous as it represents the extreme, but the impact of any academically-defined "18-month" recession is always going to be multi-year.

Humdeee 6y ago

The slow recovery and after effects is also part of that timeline.

thatcat 6y ago

this recession isn’t over

redisman 6y ago

Also depends where you're from. Any country that traded with the Soviet Union had a recession in the 90's

znpy 6y ago

It's also worth noting that basically in the last 20 years the US has been at war with some random part of the world. That's all budget that is subtracted from domestic spending policy. And military budget is frickking huge.