4 ms·
It's mind-boggling that conversations never touch the total lack of fundamental recovery since 2008. Homelessness really picked up during the "great" recession
by sharts 3y ago
It's mind-boggling that conversations never touch the total lack of fundamental recovery since 2008. Homelessness really picked up during the "great" recession and the only "recovery" I've seen since then has been in financial assets propped up by artificially low rates.
All of this only produced overvalued tech companies peddling products with little to no value ad, marginal if any fundamental innovation to level-up society in any meaningful way, and massively increased concentration of wealth in the hands of few.
Fundamentals seem weaker now than even back then and people are still hanging on by a thread. Things will only accelerate when this next downturn really hits. Whether child labor will be legalized this time around or if it'll take yet another cycle is really the only question left to be asked. Unfortunately, we need to directly experience abject conditions first-hand to begin caring about turning the ship around.