Economic recession power ratings
Catastrophic
>1929 great depression
>2033 pension crisis
>Crisis of the third century
Severe
>1973/1979 oil shocks
>Long depression of 1873–96
Pretty bad but fast recovery
>Early 80's recession
>2008 financial crisis
>Post WW1 recession
Minor blips
>2000 tech bubble and 9/11
>Early 90's recession
>1997 Asian financial crisis
Babby recession
>post WW2 recession
The 2008 crisis never seemed that bad...not as bad as its made out to be. Why is that? Is it because Im suburban middle class insulated from the shit or was it just an overblown collapse of non-existent capital?
Southern Europe got BTFO hard and still hasn't recovered. The stock market recovered in pretty much a year, real estate still hasn't surpassed inflation adjusted 2007 levels in most places, but the job market was shit until like 2012, and in many ways it's been permanently shitty. Western middle classes got BTFO pretty hard too, many never recovered.
However people who graduated in the 80's and 90's recessions will tell you tales of shitty job markets, or after the tech crash in 2001, if you had a CS degree then you were fucked, but now it's the best one to have.
>bitcoin bubble 2018
Damn. That's a sad image.
>2008
>fast recovery
You kidding? It's the longest recession on record.
Because you were in elementary school when it happened so you likely didn't feel any effects first hand. I'm sure your parents felt the squeeze though.
If your job was involved in the building industry in any way whatsoever you felt the effects of it.
My father owned multiple subdivisions and was over all the construction. At one point in time he had the credit to take out a $2 million loan and was secure in retiring a millionaire.
Then 2008 hit and he lost literally everything. He had a lot of friends involved in construction and heating & air work who killed themselves because there was no work for them in their skill sets.
>Why is that?
Because the government backed by the petrodollar literally printed enough money to keep the banks solvent.
If they hadn't done that things would have been orders of magnitude worse.
There's the difference, Capitalism, a decentralized self organizing system crashes all the time and gets way every time like a Chad. The centralized artificial Communism virgin crashes once and never gets back on the horse.
Bump
I'd bump 2008 up a level but otherwise not bad afaik
>Is it because Im suburban middle class insulated from the shit
Yes.
There were literal tent cities in some places. Nevada was particularly bad.
You're probably just young and have no idea what it means when a house you spent decades investing in losses all it's value so you can't sell, then you lose your job and end up walking away with bad credit and a hundred thousand less in net worth. Also it wiped out the retirement savings of many older people who couldn't wait 10 years for the portfolio to come back.
Imagine saving for 30 years and having it all gone. Then you move in with your children and burden them. Shit like that happened all over. The effects will linger for generations.
It blew graduating then. You basically waited 4 years for a first job and competed with people 4 years younger.
You need another tier.
Apocalyptic
>Crisis of the third century
>2033 pension crisis (probably)
Catastrophic
>1929 great depression
>2033 pension crisis (If we are lucky.)
Severe
>1973/1979 oil shocks
>Long depression of 1873–96
Pretty bad but fast recovery
>Early 80's recession
>2008 financial crisis
>Post WW1 recession
Minor blips
>2000 tech bubble and 9/11
>Early 90's recession
>1997 Asian financial crisis
Babby recession
>post WW2 recession
As bad as the Great Depression was, there was NO recovery from the Crisis of the Third Century. At least the Great Depression didn't lead to the start of a literal dark age. Likewise, there will probably be NO recovery from the Globalist collapse due to political and demographic instability preventing economic reform.
will 2033 really be that bad?
Should I have a stash of non-perishables and camping gear buried in the woods? i dont feel like we could really see anything "apocalyptic" in our lifetimes.
>2033 pension crisis
>2033 pension crisis
what did You mean by this?
I will be long dead by then so who cares.
Obama saved our fucking asses.
...
the final reeee of the boomer of course
proper treatment for cancer and heart disease reaching the public is literally going to destroy us
The Crisis of the Third Century was as much a political crisis as a purely economic one.
It's like including "collapse of the Soviet Union" in there.
Why is 2033 the year the pension crisis is going to kick in? I thought we were already experiencing it to some degree right now
My Dad was a contractor. His business slowed down but he was small time (his partner, 2 employees, and him). It didn't really hit us. My mom is actually the breadwinner and she kept her job as some random insurance company position.
middle school but point taken. I live in the midwest where home prices are pretty low to begin with.
I realize there are still effects, the job market seems pretty intimidating still but I feel like it could be worse compared to the language that used to describe the crisis.
The markets crashed but they recovered. Lots of people got BTFO but the i still feel like it isn't what its made out to be. My parents lost hundreds of thousands in their IRAs in a single day but they just waited it out, a thing that retirees can't afford to do.
Again, this effected people who both lost their job and their home, but for most people they just waited it out and their stocks and home values recovered. Im not saying this isn't significant and things aren't still fucked, I just don't see how it compares to the great depression...and frankly a lot of other "minor" panics in the 20th century.
thought as much
NO MOMMY MY COINS MOMMY WHY
Hedging my predictions.
Do you know why "Diversity" and "Globalism" is pushed so violently by academics and our elite? It's because they want to prevent just the POTENTIAL crisis that would be the pension crisis 2033 would provide. All of this, from Obama to Pol to Refugees to Trump has been because the current elite believes it can starve off Economic Collapse with immigration. Unfortunately, NONE of the economic data shows the plan worked, because immigrants don't produce a surplus that natives do (IE: They take more gibs than they make.) Our entire politics for our lifetimes has been defined by this sole issue.
First off, who knows what year it will happen. Second, you better be prepared by living in a safe area, so that when SHTF, you won't be devoured. You don't need to go full K, though, you just need to live in the right place.
The Demographic crisis will be just as political as economic. And tt is extremely unlikely the current Globalist elite will produce an Aurelian or a Dioceltian to turn things around.
Correct, it's not mainstream right now, but if you read the news you can see it starting
ex. Dallas police and firefighter pension is broke, Illinios is basically bankrupt thanks to pensions, Southern European banking system is on the verge of collapse, Japan is clinging onto life thanks to the central bank
Truthfully, it more likely to happen before 2020 than after 2030.
So just don't pay pensions?
Most old people are either wealthy enough that they dont need to. they can sell their houses and downsize to survive
or can just live with their kids/grandkids
to cause a major crisis just to keep paying out welfare bucks to some old people who still have inheritance left would be insane
Contrary to most memes, the vast majority of boomers have saved absolutely nothing for retirement, and then it's compounded by exponentially increasing healthcare costs, and demographic collapse. There is no democratic solution because old people like to vote
Wait, are roth IRA's and those types of retirement plans pensions?
In Aus they get pension on top of supa (retirement money from career)
its really fucking stupid, they dont need it. if you own property here then you're a millionaire, we have millionaires on welfare.
>Forgetting the peak oil crisis of 2177
kys
Old people vote more than young people.
They have more money to buy politicians with.
They're actively in the process of squeezing the generations after them dry.
>2177
lmao more like 2022
im talking about when oil runs out, not when demand stops.
Oil will make a meme recovery and then BTFO our civilization when the Artic reservoirs are dry
Honestly, humanity could adapt on renewables if it radically reengineered its societies and reversed the second industrial revolution. Wouldn't be pretty, but it could be done.
Will never happen, once the 2033 pension crisis kicks in the financial system will be totally destroyed, oil companies will no longer have access to capital to continue exploring and extracting oil, limited civilization will still exists around legacy fields. The oil industry has been hemorrhaging money since 2008, they could not even make a profit when oil was $120/barrel, so much for the fracking meme
see
Thank god for nuclear
>oil price in 2005: $50/barrel oil industry was profitable
>oil price in 2016: $50/barrel oil industry is losing FUCK loads of money even after supposed """ massive improvements""" in fracking technology
Fracking meme status: ponzi scheme
I was just memeing. I know renewables will solve most of it.
Fracking is profitable when OPEC isn't trying to drive prices down and when Alaskan and Canadian oil is still frozen up there. Global warming and further oil discoveries will probably make fracking irrelevant. Or at least I hope it does before the injection earthquakes take down my house.
oh hello there
>Fracking is profitable when OPEC isn't trying to drive prices down and when Alaskan and Canadian oil is still frozen up there
Wrong, fracking was never profitable not even when oil was $120/barrel
>no chevron, exxon mobile or valero
Why
Bleeding money
Don't scare me like that, it's up to 10k right now and I want to feel good
my mistake. It was profitable in my state because of the huge subsidies and tax breaks the moron politicians in my state made for them.
Then again fracking ABSOLUTELY is profitable at 120 dollars a barrel. Its sustainable at much less, nearly half.
what about
>2038 32bit meltdown
???
Guys i dont want the economy to crash in 2033, im scared
Why is it gonna crash? Cause of pensions
I'm not sure that pensions would be able to cause a crisis on par with the great depression. Of course thats a shit load of money thats going to have to be paid, but it'll have to be raised through taxes, and that means going through political channels, so those paying for the pensions could conceivably vote them away.
The government could also subsidize retail financial products to give the elderly an alternative income in retirement, albeit a less stable one depending on what types of financing would be available.
thanks, just bought $10k
its not a bubble, crypto is here to stay
only thing that could ruin it is if it was outright banned
>only thing that could ruin it is if it was outright banned
That will probably help it. I think accepting it will hurt it more because people will realise they don't need their meme currency to buy drugs anymore.