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> As bad as 2008? Nobody knows, but it wouldn’t surprise me. The recency of 2008 has really warped people's brains. 2008 was the 2nd worst financial crisis of
by benced 3y ago
> As bad as 2008? Nobody knows, but it wouldn’t surprise me.
The recency of 2008 has really warped people's brains. 2008 was the 2nd worst financial crisis of all time (maybe it would have been the worst if our fiscal and monetary tools were still at 1929 levels of sophistication). You should be extremely hesitant to declare that anything will even come close to it.
- duderific 3y agoPlus, that was not a stock bubble, that was a bad loans bubble. Real people borrowed trillions of dollars they then couldn't pay back. This is a completely different phenomenon. Not saying this current bubble won't pop eventually, but the scale would be on a completely different order of magnitude. It's not likely that 170-year-old banks will collapse and be sold off for pennies on the dollar (Lehman Brothers) if this bubble ends.