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> We were told all these bailouts and austerity and artificially low interest rates were the way to solve things and while stock markets bounced back it never f
by somedude895 4y ago
> We were told all these bailouts and austerity and artificially low interest rates were the way to solve things and while stock markets bounced back it never felt like a genuine recovery.
Maybe it's because I'm not in the US, but do people actually feel this way?
Sure, the GFC was a big deal at the time, but as a millennial, who grew up upper-middle-class and is now in his mid-thirties, I don't feel it has impacted me much at all.
- nerdponx 4y agoAbsolutely. I felt this way at the time and I never stopped feeling this way. 2008-2020 always felt to me like an economic recovery for some (homeowners, investors, white-collar and tech workers), but stagnation or regression for others. > I don't feel it has impacted me much at all. Your post exemplifies exactly the problem I am describing.
- gergov 4y agoBelow you, everyone felt it and felt it hard, everywhere.
- TheHappyOddish 4y agoI've been staring at your comment trying to decide if it's intentional smugness or ignorance. I'm going to assume good faith. There were multiple countries with little to no impact from the GFC[1]. These countries include billions of people, and significant portions of the worlds GDP. Most western economies had recovered in 3-5 years[2]. Not everyone felt it and felt it hard, nor was this everywhere. I'm not arguing semantics, for billions of people it was effectively a non issue. 1. https://www.internationalaffairs.org.au/australianoutlook/governance-and-global-crises/ https://www.internationalaffairs.org.au/australianoutlook/go... 2. https://bigeconomics.org/the-countries-most-and-least-affected-by-the-2008-financial-crisis/ https://bigeconomics.org/the-countries-most-and-least-affect...