/biz/ - Business & Finance

>>51483782
It makes you uncomfortable for an extended period of time, and normies can’t fathom being uncomfy for more than 5 minutes

>>51483782
The next crisis either has to be massive to purge the economy of all the bad debt and malinvestments, or the federal reserve and government will create an even worse inflation problem by trying to prevent it.

>>51483782
i remember my house's water heater broke during the winter and we couldn't afford to fix it. I had to take freezing cold showers every morning before school for months. It was so cold I would bring a little space heater into the bathroom 20 mins prior. I barely washed my hair or anything so when I went to school everyone kept making fun of me because I smelled really bad and wore old clothes

>>51483782
the only crisis right now is that i dont know how fat her cock is

>>51483782
2008 was the desired long term outcome of 9/11 and the middle east wars. It was not only to target Israel's enemies for them, but to bankrupt their most hated ally before selling it off to China.

>>51483782
2008 was a huge nothingberg in UK

like i was in high school at the time, family was below average income and i didnt even notice

>>51483827
well you sound like a broke faggot so dont care!

Both of my parents lost their jobs and my mom couldn't find anything worthwhile for over a year. Rust belt. However my parents aren't retarded with money and owned their cars outright while having a small mortgage so....we did fine. The people that were overleveraged got fucking annihilated.

>>51483882
This, the lockdowns in 2020 had way bigger financial impact

>>51483782
Americans had known unstopped prosperity since 1973 so 2008 felt pretty bad.
Current situation is way worse tham 2008.

>>51483782
First part of 2000s people still had reserves and where riding the last wave of golden age.
The wave crashed hard for 99% and it was all running on vapor and bullshit.
1% bailed themselves out and continued their localized golden age but plebsvwere getting restless and rebellious.
So new class was made.
The top 10%
The entertainment industry, the sports rich players, the ceos, they were given another golden age but only to serve as a carrot on a stick to 90% of normalfags that dream of getting rich while tooling away their lives.

>>51483782
Yea it wasn’t bad if you didn’t lose your job and/or home. It was still depressing as fuck and took 10 years to recover if you bought the top. It was great if you were still making money

>>51483817
It's hot potato between administrations except the potato gets bigger and hotter with each pass

>>51483782
need feet pics, now!

>>51483782
Because you didn't need a job and your parents kept you stuffed full of nuggies. The economy took years to recover to merely sluggish.
>>51483923
Gen Alpha eating dog food near their rifle in 2035 is going to laugh their ass off at zoomers complaining about their stimmie stim vacation.

I was still very blue pilled at that time and got rugged hard. I lost my house, my cars, my woman, my dog, my two cats - poof! Everything I cared about, gone. Washed away like tears in the rain.
Sometimes you don't know the true character of a person until you throw them head first into a meat-grinder.
I have gone through Hell clawing my way back from nothing. I have been demoralized and dehumanized but I have learned a lot and this time I'll be ready.
The disgusting jews who run the international financial system think they are pretty slick. But they have gotten too cocky and this next super shemitah crash is going to expose them and their antics, ushering in a massive and extremely violent backlash against them and their golems.
Everybody is sick of their shit.

The replies to this thread show that either we are far from the bottom, or /biz/ is never coming back again.

>>51483782
I was 12 years old, live in Germany, I never noticed anything. This crisis now is far worse but even that is basically meaningless, the plebs are always plebs and their lot never gets easier. Yeah we pay 10-50% more for our average groceries but in Germany food and COL is so insanely cheap that it only matters if you never learned how to save money in the first place.

>>51483782
It was worse for some than for others. One way to think about it is that something crucial broke in 2008 and we’ve been riding on fumes since. But we are right at the breaking point now where everything could come tumbling down.

t. zoomer

>>51483782
Our current situation isn't like 2008 anyway, people only think that because their algos only go back to late 80s-90s at earliest. Really, the current situation is much closer to 1973-74, where gas/oil plummeted and then blew the fuck up followed quickly by the Nasdaq and S&P after a year of violent downturn. That was also the year of Juiblee, 49 years ago. We're in the same situation now, but it's even grander, the Grand Jubilee. Covid 19 was a complete economic scam by jews to justify printing to crash the economy during shemitah, so they can start megaphoning fud and demoralizaiton all throughout 2022 to the low IQ goys, then they'll do the same major switch-up in early 2023 (End of Tirsi), that they do every 50 years, buy up all the goy cheapies then start printing their cash into the ground.

>>51484617
So what’s the play here just hold cash?

>>51483782
The reason they talked about it so much was because the people hurt most by major financial recessions and crises are kikes and wallstreet faggots. Normalfags will noticed some issues, but for the most part be able to get along just fine. The ones screaming are the companies hemorrhaging hundreds of billions of dollars because their kike friends in DC won't be able to save and bail out all of them.

>>51484617
So you’re saying Powell will pivot on a dime in early 2023 or we’ll have a robust economy even with the high interest rates?

>>51484632
Absolutely not. What I'm doing is waiting for them to crash it more, which will be likely sometime by the end of tisri or right after the end of it, so sometime November likely, but could be earlier. The next big crash will be the last one, because they don't have a lot of time left, if they don't want to anger their Saturnic demon or whatever. You're safe if you buy in early 2023, either way, you may be happy but you'll be much better off than most people. The normoids are going to continue being demoralized through late 2022-early 2023, and just like last jubilee, get underswept by the kike ran corpos and firms, from which they celebrate their jubilee by all buying the shit out of our goy goods throughout all of 2023, then continue to a normal shemitah 2030 where they'll say buy everything at the top. You have to understand is what they do is 7 cycles of 7 years to create the illusion of a standard of growth and crash, but what they do to fuck over goys is the 7th shemitah (777) has a Jubilee year after to switch up on goys and acquire all the land (in the Torah this ritual is ordained by their god, even commanded) so on the 49th year everything looks like shit and will continue to be shit (like normal shemitah) but then they switch up the 50th year to gain everything. THIS is where the intergenerational wealth of jews is had, not the shemitah, the shemitah itself is just to create a sense of certainty and comfort. Jewish kids live their whole lives for next year, hoping you sold 2022. Let's not fall for it.

>>51484749
Do you think the Jews will kill crypto too many goys made it I think

>>51483782
My parents are teachers in yurop and the crisis affected my family in no way. The way party music evolved in the late 00's unironically affected my late teenage ass more than the economic crash.

>>51484535
Tell me, what would the old biz have said?

>>51484779
Blockchain public ledger and smart contract programable money is the future. What do you think?

>>51483817
And yet we all know which poison they’ll choose. The can will be kicked ad infinitum until all of us are eating bugs and sleeping in pods

>>51484698
It will be done more tacitly than that, maybe not "on a dime" but like we already know, the fed is still taking on positions. It's just a show either way. As a kile puppet, Powell will continue saying "oh yeah its gonna be so hard guys, we're raising rates super fucking high" which they will as they continue expanding fed assets under the table, then when jews have got everything cheap, they'll reduces interest rates to near 0% quickly, likely mid 2023. But I'm going to be buying while it's cheap late 2022, early 2023.

>>51484779
The jews will want to replace crypto with something they can control, they like they can make money from it by just manipulating the economy at large with shemitah/jubilee, but they don't like how internally uncontrollable some of the projects are. They don't like how they can't shut someone up with the click of a button or take someone's house with an electronic signature. So they are developing their own (CBDC and all that)

>>51483782
If you are looking for a genuine answer I can offer one.
The Normans were raised to believe that they live in a just system with just and competent leaders, greedy, but ultimately restrained, corporate interests and a fair application of the rule of law.
08 brutalised them for being naive. It disproved all of that propaganda. The banks and investors went ham doing something they knew was extremely dangerous, out of pure unrestrained greed. Politicians ignored it out of corruption , complete stupidity or both. That disproves the notion of just and competent leadership. Then in the aftermath not only did the banks get off completely free from a mess THEY caused, but they also came out BETTER, with big bailouts and a large portfolio of newly acquired property. This disproves the idea of living in a just system and the fair application of the rule of law.
So don’t look at it from the perspective of economic damage, consider it from the perspective of millions of people being exposed to levels of injustice that they were told over and over were impossible. Institutions went above and beyond to fuck over common people and the government almost rewarded them. The fact that it was also an economic inconvenience is huge too but less important. (Granted if you saw your parents lose their home and had to spend months sleeping in the car or motels if you were lucky BELIEVE ME you’d never ever forget it)
The whole ordeal was one of the last nails in the coffin for trust in our society.

>>51484617
So what you’re saying is things will get better.

>>51483782
Heh just wait til loads of people get laid off. Crime has already been soaring and it will moon when this happens. Meanwhile governments will replace all the laid off workers with cheaper migrants leaving u bagholding a useless resume

>>51484915
>I'm going to be buying while it's cheap late 2022, early 2023
I’m gonna do this too but I’m skeptical about going all in at that point because 2008 still haunts me. It took forever to paper over that mess.

>>51483782
Speaking from a UK perspective, not that many people lost their jobs, but there really was a huge quality of life change afterwards. Jobs stopped being relaxed, sociable. Two hour lunches and knocking off early to go to the pub on a Friday ceased to be a thing. Perks were eliminated. It became much more 'American' in terms of soul-destroying work culture.

>>51484944
To reiterate my point here it’s what >>51484610 is saying. Normalfags saw their whole world crumble before them and now they know it’s broken. They know that at any moment in time the same thing could happen to them and nobody would be held accountable.
For perspective I believe that the astronomical rent increases over the last decade can be traced back to 08. The banks foreclosed on 1000s of high value properties that they sold to people who had no business buying them. Then they flooded the market with cheapies and as the market began to recover landlords slurped them up. This is their financial incentive for bad mortgages. The property can potentially be worth more than the mortgage itself if rented over time, hence why 0 down payment mortgages are back. They want people to take them out despite the bad economy, and in a years time when we enter the shitstorm repo the properties. It also exposed to people the existence of the low interest rate east money casino, which insures that big firms can’t lose, because if they do they can just take out a fat loan
>>51484617 if 73 was for stock cheapies 23 is going to be for property. You will own nothing because you won’t afford to own anything. They won’t suddenly announce a great reset, they’ll implement it slowly so by the time you realise you’re in it it’s far too late.

>>51484698
>>51484749
was thinking powell isn’t pivoting until mid to late 2023. Also just got word that banks are already jacking up rates monday ahead of the rate hike. I’m not looking to enter the markets until late november early december though i doubt that would have any real impact considering the markets could continue crashing well into spring. What’s to say theirs not going to be another pandemic? Rather than take blame like 08 just blame it on climate change/supply chain/employee/population collapse

>>51485184
Pic related

>>51485211

>>51485184
so you really think property values will just slowly creep upwards pricing out most americans? would this not further push the idea of being a neet? If one can’t own a home, or a car then what’s the point of working? You could just live off of the gig economy making enough to eat a sandwich, head to the bars, and pay for your subscription services

>>51485241
>so you really think property values will just slowly creep upwards pricing out most americans?

at some point people will just start lighting houses on fire

>>51485241
No I don’t think it will be that bad. But I do think the banks want to get to a point where mortgages are equally profitable to renting. That would entail making them so astronomically expensive that your spend your whole life paying it off (as if you were renting the property).
For the landlords and banks this is textbook quid pro quo. If housing is that expensive then rent will rise accordingly.
If they flood the market with cheapies for the landlords both win.

>>51484996
Eventually, just don't pull the trigger too early, the next two years are going to be like a roller coaster. There's no shame in being a little late waiting for confirmation, when I say buy in November, I mean that's the EARLIEST they will start implementing jubilee. It's better to buy in December at 15k after 14k than October at 25k before 15k , for example.

>>51483782
Not only you don't realise how deep it was and still is because you didn't personally feel it, but we're far from over.
The recession we're in is a direct consequence of 2018. They spent trillions trying to save the economy, but seeing it didn't work, kept giving trillions but to billionaires in more and more obvious way.

As >>51484944 said, they completely fucked the economy long term because now the far right joined the far left into being redpilled over how vile the banks, politicians and billionaires are. Even my very economically liberal newspaper is now borderline aggressive when it comes to "trickle down" money, bonuses, infinite growth and CEO with x00 billions networth.

Silent quitting, mass resignation, alternative lifestyles etc will become more and more common until UBI is the new normal, but it'll take decades before the boomers who will fight for their lives before they see poor people get free money die and we can go to the next paradigm.

Basically, you don't want to get fucked at the bottom of that valley.

>>51483804
Normies didn't consciously process it at the time, they went along as usual. It didn't hit them until the years afterward, when they lost their jobs, got addicted to opioids, and began rage-voting for Trump out of confused frustration. Sad.

>>51484598
You didn't notice anything because they printed their way out of it. That's not in the cards this time

>>51484871
That we're still living through the 2008 crash

Wtf, sane and knowledgeable takes on the economy. Where are the neolib shills?

>>51484377
checked

>>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

>>51488437
just stop eating for 5 years lmao
that unironically might solve the obesity problem

>>51483782
The world actually ended in 2012 now we are in hell.

>>51484632
>So what’s the play here just hold cash?
That would be a foolish move, inflation doesn't give a fuck about who you are and woul turn your cash to dust in your eyes. Find ways to put that cash to work, probably as stables staked somewhere.

>>51489897
Staked somewhere? Probably your mama's ass.

>>51483882
i was working my first job at the time and didnt notice a thing personally.
what everyone was conscious of at the itme was the death of the high street, which was at the time being blamed on the financial crisis but it was mostly a meme, they were started to get crushed by the online retailers.

>>51488437
>But it was really fucking bad for the people who were unfortunate enough to lose their jobs
>unfortunate
a lot of people were being overpaid given how many of their previous duties were being replaced by tech.
the company i was working for had 2 accountants pre 2008 and a few times a year hired a firm that had more of them physically arrive at our offices to do shit. by 2010 the accountants were gone and were replaced by some guy who was trained to use some accounting software an outside firm provided, his job was just to send and receive reports to the firm and if anything important came up we needed a real accountant for, we just had this reports guy call them.
this outside firm had about 100 clients they were doing accounting work for, thats 100 clients who might have had their own accountant and these guys being centralised had a couple of lawyers and a handful of accountants doing all of those peoples work, with some wagie filling in forms on the clients side.
there will be examples in every field of things changing due to tech upgrades, it just so happened to come at the right time for centralised kosher online services like google and amazon to blow up

>>51490231
If my mama's ass will give me better than what Spool is giving now, then I'm definitely taking my stables there.

>>51483782

OP's post is a giant LARP from the 90's esk photo which more than likely is from the 2010s or later to the part where OP says they made a lot of money

Just as in the big short when the crash happened most people kept moving about their day as if nothing happened. Additionally the crash effectively took years and the only reason it felt like it was nothing burger is due to the fact that one OP was more than like 12 years old at the time and two global financial engineering to make sure the house of cards still stands up. Other than the GFC would have felt a lot worse than it was.

The GFC started the 99-106 weeks of unemployment insurance in the United States and all kinds of Home protection services funded by the government because morons bought overpriced houses on ARM's and also thought their house was an ATM.

If your job was safe and you had excess income it was a good time to slurp the dip between starting in 2008-2009 to 2022 but not everyone got the initial low.

With 19 year olds buying NFTs and Crypto to Normies on Robin Hood if the market seriously tanks this time it is going to burn and burn hard. It will cause everyone to panic. If the contagion is global then hang on for a wild ride. Yet right now no one is sweating it as everyone in the world is expecting Central Banks to bail everyone out.

>>51490745
>Yet right now no one is sweating it as everyone in the world is expecting Central Banks to bail everyone out
It's the same thing situation every time. When the party lasts 10 years and the music stops, people keep dancing because they think another song is coming on any moment now. Someone yells that there's a fire and they think it's just a joke because schizos have been yelling fire for years and the party kept going. Only when the fire has grown large enough to be seen do they begin to panic

>>51483827
Hey, I feel you pal. We'll all make it, dw

>>51485381
bunda

>>51483782

If you owned stocks or had a mortgage with an adjustable interest rate, it was a pretty frightening time. If you were employed and in the market to buy a home, it was a good time to buy.

>>51490549
How big is yo momma's ass I want to stake something else there?
How much profit is it gonna give me?

>>51491051
Staking on Spool gives APY of 6-10%; you can earn by the side i you create your own smart vault.
Leave ass alone.

>>51483782
Rich people lost alot of money and poor people who fell for the variable rate loans lost their pants. Everyone else got a chance at cheap assets.x8mn8

>>51483782
I agree all the "oldfags" in here like to brag how hard it was but at the end of the day it was a literal nothingburger. Just amerimutts have been playing on ez mode forever

>>51484598
>>51486548
2008 was a non crisis in Germany i was still in school but it was literally all good.
From 2010 on all went to shit. Unemployment went constantly down in the late 2000s evenm 2009 was lower then 2007

>>51483782
So as someone who graduated college into the depths of the Great Recession and was a banker cleaning up the mess of bankers after the Great Recession, the non-EdgeLord answer to this question is actually really fucking straight forward.
>The Great Recession was the largest, most intense economic calamity since the Great Depression in the United States.
If you don't understand how or why it's because you... just don't understand what the fuck happened (or almost happened).

The ramifications of the Great Recession are still playing out in present day. A few people in this thread get it partially right:
>>51484012
>>51490745
>>51485013
Again, if you don't understand WHY or HOW the Great Recession was the worst economic calamity since the Great Depression it's because you're just fucking ignorant. Which is fine, no judgment, but anyone who does know how and why will know you're ignorant as fuck and/or a youngin' from that kind of talk OP.

>>51491568
Gets it. I estimate that 2008 GFC was impacting people generally impacted people over 30 years old (Money for stocks, 401k, loans, career etc) Those that were affected by the GFC are at least 43 years old. How many of those that are younger than 43 are into crypto, robinhood and etc these days? they have no experience with a recession because they are under 43 yrs old?

>>51487777
I check u
7'z

>>51490986
Fuck, this reminded me of the Great White fire:
https://m.youtube.com/watch?v=nnul_HDvXMM

Genuinely scary shit, and it sort of matches your comment.

>>51491733
I graduated from college in 2008. In June 2008 I started working as a drug rep for a pharmaceutical company. Starting pay was 60k. In September, they let me and a bunch of other people go. I had a lease on an apartment I couldnt pay. Also, the company took the car, so I had no income and had to buy a minivan. I had to sell my shit and move into that minivan. I got a job working retail that was supposed to be temporary. It took me about 4 months to get another apartment. I was unable to get another job as a drug rep EVER.

I had to work shitty $10/hr retail jobs for a couple years before I decided to double down and go to grad school. The breaking point was when a former girlfriend from college saw me stacking dog food at Walmart. The look on her face was like "wtf are you doing working here?" I can't really describe the sense of shame.

So anyway, I went to pharmacy school in 2012 and got out in 2016. I had to take out about 300k in student loans. Now I make about 200k a year.

As a side note, do not go to pharmacy school, the job sucks even though the pay is good. Pharmacists have the highest suicide rate for any profession.

>>51490404
Same, I was about 6 months into my first job.
It was a nothingburger for me, and a nothingburger for the company I was working at.

To me it seemed the 2008 crisis mostly affected only speculators and people working in banking and finance

>>51492517
My guy. I am over here empathizing and sympathizing that you went through that. The people who didn't live through the following statement
>There were no jobs.
in 2008-2010 just don't really understand that... there REALLY were no jobs.
> I was unable to get another job as a drug rep EVER
The feels. The fucking feels.

Something that really hit me at that time was how no other generation understood what the fuck was going on. The Boomers were clueless and blamed the Millennials as if it was our fault the Great Recession happened.

Education failed us so amazingly hard and still does to a large extent. I still remember my own Father - a very, very successful man - telling me, "Just get your degree in whatever you want. It's not about the degree; it's about the college. Go to a 'good' school and get whatever entry job you feel like getting." The crazy thing? He was right prior to 2008 for the most part.

Post 2008? Every entry level job required years of prior experience... for shit most of us could have done in high school with no degree.
>Oh you want to be a janitor?
>Show me 3 years of experience for this entry level janitorial position and your senior thesis about the philosophy of cleaning
The abrupt change was fucking wild.

Best of luck with the pharmacy position. My uncle was a pharmacist... seriously man hang in there, good luck.

>>51493091
>in 2008-2010 just don't really understand that... there REALLY were no jobs.
i was only 17 in 2010 but i vividly remember applying to any basic entry level retail job was a huge pain in the ass. had to scrape the bottom of the barrel to get a gig at mcdonalds, which at the time definitely had a sizeable number of people 10+ years older than me who had to take that job as well out of necessity. i was fortunate to not really be personally affected by the GFC too much at all thanks to based pops seeing the bubble from miles away, but the repercussions it had around me were pretty real

>>51493199
I knew lawyers working at Applebees competing against your peers for the job. It was fucking wild. A lot of the Millennial attitudes we see today are scars from that time.

Good for you and your pops man. It's always good to hear about a dad using his wisdom to help out his kid.

I was a loser who was hooked on WoW and failing school, so none of it mattered or had any impact on my life at all.

>>51483827
couldn’t you bring a pot of water to a reasonable temp and wash your ass with a cloth?

>>51483782
The 2008 financial crisis hasn't ended yet, they just plastered over the hole and pretended it was OK again. Things never went back to normal, and by around 2018 and 2019 they were starting to lose control again, covid gave them a scapegoat.
In 1929 the world population was about 2 billion with much of it able to subsist locally, now we're approaching 8 billion, with a huge portion of that being non-productive in terms of physical goods and services dependent on a world-wide supply chain to feed and clothe themselves.
You'll know the end of this current crisis when the attached graph follows the decline in market value.

>>51492517
>The breaking point was when a former girlfriend from college saw me stacking dog food at Walmart. The look on her face was like "wtf are you doing working here?" I can't really describe the sense of shame.
that’s brutal anon, glad to see things are going well now financially

>>51493322
It sure beats living in a Dodge Caravan and working at Walmart

>>51492517
Holy shit, glad you turned your life around.
What did you originally study in college, and what sucks so much about being a pharmacist?
I'm no fan of my current job shuffling papers, but it beats my previous jobs.

>>51485381
This, 2008 was a crisis of sentiment initially, which got can-kicked away from becoming a full blown economic meltdown, which would have had actual cost of life concequences, but it was floated, and there's no way out without pulling the pin. If 2008 was the start, can you offer a year that signalled the end of those hardships?

>>51491212
Sounds like you owe us your mother’s pink ass, faggot. Pay up.

>>51483782
Jews almost lost a lot of money and had to get their government friends. You're hearing about it because its their problem. Why is Bernie Madoff the only scammer you know? Same reason.

>>51494115
*Had to get their government friends to bail them out.

>>51483782
Most americans are leveraged to the teeth in their personal finances. Look how many people unironically celebrate hitting a $0 net worth. They get blown the fuck out the minute it gets shaky. Like when you see on here guys getting liquidated and turning their life savings into $6. Similar thing
>>51493277
I remember doing this many times growing up. Not even GFC we were just poor

>>51483782
I saw in Spain entire decent families being kicked out of their homes. All of a sudden they were in my street, on the sidewalk sitting on a bench, with good clothes and suitcases. I started to hate the jew and capitalism there and then.

>>51484377
Based and checked

>>51483939
America had severe staglflation through the 80s and multiple financial crashes in that time period

>>51483782
Worked at McDonald's in high school, was what would call a model wagie. They'd hire anyone, everyone, part time, full time just to give an idea of what the economy was like before the recession.

Graduated in 08 and went to college in another state. By 09, couldn't land a summer job there despite being on great terms with management. Also, all the people in the more monied part of town had traded in their gas guzzling SUVs for more economical vehicles; gas prices were likely a contributing factor as well. Parents' holdings lost a half million in value in the downturn. Couldn't land a job anywhere for 2-3 years except for sub-minimum wage gig jobs here or there; mostly lived off parents' money until networking my way into a small but well-funded research group on campus.

Classmates' parents were laid off in late 08, they blamed it on Obama, which was retarded as he hadn't taken office yet.

Can't imagine what less well-off people went through. If the political climate was any indicator, the fact that there were passionate grassroots revolts in both wings targeting the financial system was telling, even if they both got cooped, dismantled, or subverted by institutional interests in the end.

>>51494154
Decent people don't take out loans.

>>51492517
>Pharmacists have the highest suicide rate for any profession.
I just looked this up and it's nowhere close, well behind doctors and lawyers

https://thehappypharmd.com/pharmacist-suicide-risk-what-we-know-and-dont-know/

Crash, great depression... is the best chance to slurp.
I wasn't old enough in 2007 unfortunately.
And I wasn't rich enough after covid crash, so despite my massive % gain, the nominal is trash.
I'm desperately hoping for more crashes in the future, so I can slurp hard.
It's a shortcurt towards my Lean-FIRE plan

>>51490404
>>51492685
It had a massive effect on work culture in this country. You may have been too young to notice it/in a transient or starter job. Working in the UK was a lot more laid back pre-2007 in both the public and private sector. Long lunches at the pub, leaving early, perks and benefits, were all common. It became much more American afterwards.

>>51495523
>Decent people don't take out loans.

The fuck is this? Who doesn't take loans even the great america has a lot of debt!

>>51497342
His take was fucking dumb, loans are important to the existent of many organizations and countries as well.

>>51489897
Your advice is fucking retarded and you have no idea what you're talking about pajeet.
First if you'd stake on stables that would create a hefty taxable event, which makes it worthless to even stake in the first place.
Second even if you think, you can tax evade somehow, you'll be butt fucked by the IRS eventually.
It's better to just keep cash, putting your money in interest or investment is worthless the game is heavily rigged.

>>51497486
>if you'd stake on stables that would create a hefty taxable event, which makes it worthless to even stake in the first place.

The idea of staking stables sounds logical to me provided the returns are fair making use of Spool would be a no brainer but in the place where tax becomes an issue then i think relocating to a tax friendly country will be a good option.

>>51497597
>The idea of staking stables sounds logical to me provided the returns are fair making use of Spool would be a no brainer
Yes

>but in the place where tax becomes an issue then i think relocating to a tax friendly country will be a good option.

No one is gonna move just to avoid taxes unless you're already insanely wealthy, not to mention it's hard in most countries to cash out

The reward just isn't worth the effort really

>>51483827
Oh no. Our fren here had to take cold showers before going to school. The horror. It's over. 2 more weeks

>>51483782
That's probably because you have money.
1) Thousands of people lost their jobs and homes, so there's three times as much poverty. And I've known many.
2) Banks closed all around Europe and currently only 3 survive and give no interests whatsoever.
3) Graduates were getting 4k easily and right after the crisis it took me and my group of friends 3+ years to earn enough to get by. RN I have a "good job" making slightly less than 2k.

I could list several consequences of the crises but you probably don't really care.

>>51497617
>No one is gonna move just to avoid taxes unless you're already insanely wealthy, not to mention it's hard in most countries to cash out


You don't have to be insanely wealthy to move, lots of middle class citizens migrate for different reasons you just have to be certain that is the logical thing to do.

>>51489897
We're does the staking benefit come from?
Did you hear about Luna?

>>51497701
You missed the point where he says "no one is gonna move just to avoid taxes..."

>>51484944
this articulates it pretty well. on the micro scale it was hardly felt, but it was a grave display of greed and corruption. the lack of trust it sewed will last generations, it is one of the direct causes of our total lack of trust in institutions. the bailouts were the greatest mistake this government has made since intervening in the great war.

>>51483782
>birthmark
2/10 no thanks.

>>51492517
Relationship with a woman who enters a Walmart store? Sales rep for Pfizer?
Cry me a river

>>51484944
>>51485184
That is a lot of unnecessary words to simply say that goyim are cattle that exist to extract resources from.

>>51497689
It's worse now than then.

>>51495764
Look at 2020 and data.

>>51493610
Being a pharmacist sucks because of the working conditions. I'm expected to stand for 12-14 hours a day with no stool because that would be "unprofessional." I also am salaried, so I only get paid for 8 hours a day. So what looks like a fantastic job really is a 60-70 hour a week job on your feet. We also have to deal with mentally ill people and drug addicts. Also, pharmacies get robbed a lot. Usually it only happens once a year or so, but I did get robbed 3 times in 2019. There is a reason they can't replace me for under 200k.

>>51493715
Things normalized in 2013.

>>51500638
I really hate that sitting down is deemed 'unprofessional'. It's my fucking pet peeve. Back home, cashiers (and I worked as one during uni) weren't able to sit for 8-9h straight. Where I am now, I go to the store and they have padded chairs behind the checkout.

>>51498834
It was pretty awful to have a taste of middle class life then be living in a minivan for a few months.

living through 2008 through 2013 in vegas was something else. its surreal seeing the epitome of "Feast or famine" in real time. 2020 fractured the city again

>>51500790
>webm

>>51500790
I remember going to Vegas in 2007 and everything was shiny and new. When I went back in 2012, everything was run down and dirty. Tiles in the casinos were cracked and unrepaired. There was a half-built huge casino called the FountainBlue that had a sign saying "opening Fall 2008" that was still up in front of the building in 2012.

>>51483782
You are unironically talking from a privileged position. Depending on the country, the industry your family worked for, and the ability to pay your mortgage you could have been in a way worse scenario.

>>51495523
No dipshit, these were working families that had a mortgage like everyone else at the time, and then the banks foreclosed on a lot of people because they couldn't cover their own payments and debts. It wasn't loans, it was normal families with mortgages who got fucked by every bank that later got bailed out.

>>51483782
it was a big thing in my country at least it wasnt possible to paper over it and it took years to recover. the government had to cut spending as well the private sector that got rekt. but besides the economic aspect i might say what was also noticeable was the social aspect: the non-stop seething over the situation that was everywhere and lasted longer than the economic downturn itself.

>>51501260
this fountaine blehh? lmao

>>51483782
It led to quantitative easing which rotted out pretty much every aspect of the western worlds culture

>>51491568
Get cancer glownigger

>>51487777
That's how bad things are about to get. Globohomo is so broke that they can't afford the cost of pajeet shills

>>51483887
>>51493277
>>51497628
Holy shit how jewish can you be?

>>51485401
And there it is, making something political that happened 8 years later fucking kek.
This board is garbage and needs to be shut down.

>>51483782
you were too young to notice, you didn't lose anything because you didn't have anything and your parents just bought everything you need
you had to be 25+ and have some decent amount of money to realize how bad it was

>>51500790
Paid off $100K student loans in 2010.
Finished saving up for my down payment on my house in 2013. House will be paid off in 10 more years. Maybe it's really about the frens we made along the way?

>>51502079
>causality stops working after a few years
Retard alert.

>>51502136
possibly, mister gunnr

>>51483782
Found the squatter

>>51483782
>t. Larping zoomer
>It wasn't even that bad bro. No one I know died.
It's ok you'll definitely feel this next one kek.

>>51483782
I dunno man 2009 was comfy as fuck I bought a house. I could never afford it at today's prices.

>>51492405
Jesus that was grim

>>51501605
Yeah, that one. They were building it in 2007 and still have not opened. They say they will open in 2023. They have been saying they will open "in a year" for over 15 years now.

Wikipedia has more info:
https://en.m.wikipedia.org/wiki/Fontainebleau_Las_Vegas

>>51502907
yeah i know. they actually have made significant progress in the past year. its lookin close to finish. i think they just have to furnish the rooms and set up the gaming floor, majority has actually been finished after 14 fuckin years. i know the city was a bit curious about the structural integrity of a decade of exposed steel, but hey, not my problem

Housing market's fundamentally broken. Excessive demand and high prices are causing persistent low supply, but everybody's building expensive condos or multi million dollar suburb homes, and not the stuff which has actual demand: high density affordable housing. So this will constantly drive prices up as people scramble just to find a home and investment stays down. The problem comes when you get speculators building a fuck ton of expensive houses because "DUR but da houses are expensive right? So build more expensive shit an maek fuck ton money" then they get burned when nobody buys them, and it ripples to adjacent markets. Everybody says the 2008 crisis happened because of risky mortgages, and there's some truth there, but banks were only taking on these risky loans because it was the first time we ever saw this disconnect between supply and demand, the loans just transferred the fallout from the would be housing crisis onto the financial sector.

Now we're seeing another housing crisis because building practices haven't changed, and this is going to culminate in another crash. Course the difference is that there aren't any companies leveraged to the tits on debt investment, but this is arguably worse since it's going to have a knock on effect on the ENTIRE system, employment, public debt, housing, all of it, not on just some fuckhead companies. This is cyclical, it's gonna happen again 10 years from now too.

Shit's fucked yo, America's gonna get dragged to the bottom and drown.

>>51495523
>I am a jobless teenager

>>51502079
>I don't understand the connection between economics and politics
You're genuinely too stupid to live.

>>51485154
We used to have all that shit?
I'm besides myself.
I fuckin' hate the state of british employment, the gall of people who think <26kpa is an even remotely acceptable salary to offer to someone devoting their full time.

Disgusting country

>>51485154
>>51504262
It's a global economy faggots. You want to trade internationally in the US dollar? You want a slice of American "prosperity"? Then don't be surprised when you import some of America's shitty """culture""".

>>51483827
Ahh heckirino not the cold showers of fresh clean water!!

>>51483782
People near the top overleveraged and got margin called, and people near the bottom didn't have reserves for if things went wrong (and found that their assets were not that valuable).

>>51483898
The pattern I see is that people who didn't plan for the inevitability of problems coming up got f'd in the a, across all income levels.

>>51484617
>>51484749
Meds NOW schizo

>>51503325
I should also add the American housing market has always been broken, all the way back to the post WWII era. This hasn't happened sooner (a large scale housing crash) for multiple reasons. Part of it is that in the early 90s manufacturers realized that the way housing was organized in America meant that American labor was MASSIVELY overpriced, like unbelievably overpriced, and started exporting jobs, mostly to Asia. Germany actually has a sane housing market, and we sit back and wonder how they can be such industry giants while America fails time and time again, this is why. So anyways industry left and this caused large scale inflation in the housing sector. The Clinton administration temporarily remedied it by running a small budget surplus, but the fact that Bush took power after that made it pretty clear that was unpopular with the public and private sectors alike.

Across Bush's administration housing inflationary pressure reigned, but it was subsidized by predatory lending practices which basically prevented the housing crisis, but also had the effect of worsening the health of financial sectors. 2008 it popped and almost all of the housing inflation went away transiently as markets worked to reorganize themselves again, but even by 2015 it was clear the underlying structural factors weren't going away and inflation started to creep back up again. The pandemic was the major catalyst which accelerated the crash, but realistically any world event could have done this.

If it feels like 2008 "broke" something, just know it was always broken, and that 2008 was the first time it was obvious to everyone. I just pray god may have mercy on your soul over the next couple years.

>>51483782
I have never recovered from that, and neither has this godawful economy. You are living in a lie.

>>51504850
I never really recovered from it either.

>>51483782

We were about 6 hours removed from a total collapse of the fiat money system until the fed globally injected 16 trillion dollars into banks.

>>51506148
Really, they were going to let it all fall. Then the money market system froze up.

>>51483782
>Why do people pretend that the 2008 financial """crisis""" was like the end of the world?
because it unironically was.
>I've lived through it and it wasn't even that bad
Okay explain what happened in your opinion for it to not be so bad.
>a lot of people made lots of money from buying all the assets that were on sale at huge discounts.
This isn't true because you're looking at a very small amount of companies that survived. Most companies never returned to the price of 2007 levels. Meaning you lose money.

so why does that matter?
It was a horrible disaster because a large number of Gen X and Boomers lost all of their retirement.
Housing collapse removed people from homes and gave the homes to the banks which now do nothing with it and now houses are condemned.
People lost their jobs, which never returned because they just got outsourced.

Before 2008 hustle culture was seen as a negative thing that only niggers did who were into drugs.
Now it's the way of life if you want to be successful.

2008 was such a turning point in so many ways. Now we live in a dystopia until the next great war.

>>51489897
Staking is a based way to earn passive income. I'm currently staking assets like Hnt, Sylo, and Vra for decent yields. This is my strategy till whenever the next bull season comes.

>>51483782
OP, the current global recession is literally a direct consequence of the 2008 crisis. They never "fixed" it just kicked the can down the road hoping it'd get fixed eventually until COVID fucked their shit up.

>>51483782
My parents divorced in 2006. I went to live with my dad. He lost his job in 07-08 and we lost the house shortly after. Lived in the car for a month or so before we lost that as well. Spent the winter that year living on the streets. Shit sucked.

>>51483782
A lot of places in the US only got back to where they were when the wuflu hit. The economy never actually recovered - if the fed ever turned off the tap completely the entire market would unravel.

>>51483782
The last year has been worse already for the average person

>>51483827

>>51492517
>Pharmacists have the highest suicide rate for any profession.
Nigger all you do it put pills in a bottle with a prescription taped over it, stop being so dramatic.

>>51507491
That is what a pharmacy technician does, not a pharmacist.

>>51483782
With tye quantum computers just to survive is going to be a pain in the ass. But since we have the quantum resistant blockchain I think its just going to be fine.
Hoping for safe investments.

>>51506852
I will be mining QANX tokens with my mobile phone at ease once the POR concensus is launched. Passive income on the go in a eco-friendly approach.

>>51483782
End of the world? Not so much.
But for my family it was really bad. Worst years of my life. My dad couldn't keep a job that paid enough, the bank eventually taking the house, taking "rag baths" out of pots of boiled water filled up with the neighbor's garden hose, no winter coat or waterproof shoes for the walk to school in winter, eating food bank donations for the first half of the month and buttered rice or spaghetti noodles for the other half of the month, and sleeping on the floor in friends and strangers' houses are the memories I have from my highschool years.
I want to make it so that I never have to go back to that.

>>51506912
Why didn't you go live with your mom when SHTF?

>>51483782
>no money poor as fuck
>loaned 500k
>bad investments fucked up again
>got to know about crypto
>started off with 2k now earned 200k
>God's support and hard work paid off
>Now DCAing on few bluechips like AVAX, ALGO, ETH, BNB, TEL and QANX
Need bull run soon.
>beware of the quantum threats and be smart anons

As a millennial who had just graduated HS 3 years before it really fucked me up. Had just moved out, had to sell all my stocks at 60% loss to pay the bills. I ended up working fast food for 3 years during it. I made $7.80 an hour until fucking 2011 when I finally got a better job that paid $10.50 at 24 years old.