3 ms·
This. I remember the 2008 crash and it was panic. Banks collapsing, large layoffs, hiring freezes, and a quick downturn. Hell the pandemic downturn in spring
by xivzgrev 4y ago
This.
I remember the 2008 crash and it was panic. Banks collapsing, large layoffs, hiring freezes, and a quick downturn.
Hell the pandemic downturn in spring 2020 felt worse than this. Unemployment went way up, banks were pulling back, people were being laid off. That was an artificial crash with a fairly defined end time. A normal crash does not have that.
Whatever this is, not a crash. Or at least yet.
- BryanBeshore 4y agoTech has crashed, and is very much in a recession, while the rest of the economy has been operating (decently) smoothly. This said, other parts of the economy are starting to feel knock-on effects of inflation, higher rates, and supply issues. Things could certainly get a lot worse. 2008 was brutal, though.