/biz/ - Business & Finance

>>51483782
It wasn't bad for everyone. But it was really fucking bad for the people who were unfortunate enough to lose their jobs, which turned out to be a lot of people. Just like right now, people took their high paid jobs for granted. When every company is laying off and won't hire anyone new, all the people with degrees and years of experience starts battling eachother for fast food jobs and warehousing jobs just to be able to pay some of their bills. A 50-70% paycut and they had no way to stop it and nobody knew how long it would last because a recession lasting 2-3 years is not a given. The people who didn't have a lot of money saved up had to resort to credit card debt, hoping that it would be enough to keep them from becoming homeless until the bad times had passed. A lot of people got squashed and ended up bankrupt. The same thing will happen again and nobody will know how long it will last this time either. Could be a year, could be 5 years

>>49904366
>her

>>49872463
>market expects x rate
>fed raises rate as expected
>market continues to dump
>continues to say "ackshually, it's priced in" every time a new rate hike is coming