2008 Recession

I’m 24, about to graduate college and wanted some insight from adults in the workforce during that time.

What you expect? People lost jobs, wages there cut, way to many loans, which led to bankruptcy. Nothing out of ordinary for a crash

from personal experience the workplace became very strict. people who had minor fuckups in the past were the first to be let go for any little thing
zero impact on pay

People thought the entire economy was going to collapse. As in, credit/debit cards don't work, banks closed, no gas at the gas station, no food in the grocery stores. The Fed and all the central banks of the world prevented this by cooperating and printing $Trillions and giving it to the banks.

None of the root causes were solved, and the Fed and other central banks have proven that they can keep things going by printing money, so they will probably keep printing money whenever there is a financial crisis.

I was a kid no but honestly, why didnt anyone buy the stock dip though.

I lost my awful job and went to art school and developed a drug habit courtesy of taxpayers.
Shit was so cash.

There was no recession. Just people spending less.

Didnt Avatar break box office records during the worst of the recession?

And why shouldnt we?

U.S. money is backed by our military.

Ok

Like shit. I graduated from mechanical engineering around dec of 2009; by 2010-2014 all the companies were asking just to many faggotry things just for intenrships in their shops. Things like "MBA required or Masters in Quality is a plus" seen all around the job tablets. I got lucky in 2011 because entered at GE aviation... dude! What a shitplace! Feminism imposed like hell by HR. I've never imagined that a fortune100 were so contaminated by that crap. I did well but entered in a nonsense "workplace comma" because they replaced about a half of my male coworkers in the team that i used to work by females and pajeets. Not against women or other races, but to merits and efficiency (i consider myself as a true capitalist). In the end the metrics gone to shit but "muh feelings" were important. Anyway, i left that crap of a company and started a business. Now doing good. Better pay and my own money. Finished a masters in 2017 and never felt so good.
Protip: acquire abilities and knowledge and run a business by yourself; every sweat and every stress is to yourself at the end of the day and not to a stupid manager or a board of people locked into a tower of crystal.

this sounds about right.
It was kinda bad and things still aren't what they used to be.

Not much. It was mostly statistics on TV, but my country was pretty spared as we got only -3% of gdp.

Norwegian here, didn't notice much difference

I had just finished university, ready to join the workforce.
It felt like getting gang-fucked by every rich boomer on the planet and filled me with a rage to fuel the fire that will burn every last one of them to the ground.

was wack - we lost our house with massive layoffs that followed, I collected unemployment for 2 years looking for job... took literally that long for job market to recover

In my country we had our own recession soon after that so it feels like 2008 never ended

Because eventually other countries call our bluff. For example, Russia and China have been stockpiling gold for over 10 years, and have been making trade deals with each other and their neighbors to settle trade in Rubles, Yuan and other non-Dollar currencies. The US can't use it's military against Russia and China with causing a war that could exterminate billions of people. The US tried to use it's military against shit-tier countries like Iraq and Libya, but even that has proven to be extremely costly in many ways, not just financial.

mcdoubles were $1

But you're implying it was an all out war. They were just military interventions. On fact, we haven't been at war since WW2. Everything else has been just basic military interventions.

China & Russia know this. I see them stockpiling weapons more than Gold...

this.

I had just moved to LA from Detroit at 18 years old. Couldn't secure loan for the expensive colleges I was accepted to. No mom and dad to help with money. Had worked 2 jobs when shit hit the fan and literally had to collect unemployment for 16 months solid while selling my fucking plasma twice a week and selling water bottles at the beach to pay rent in a roomshare - and was almost homeless twice.

Now I'm a millionaire so it all worked out, but if I had to do it again at this point I don't think I'd have the energy.

I actually panicked and bought physical gold at ATH

sold at a dollar loss later

still made gains cause my shit countries currency caved in the meantime

Go ahead and fool yourself with semantic games.

...

PRetty much. I was fairly scarred by it desu. The attitude of people now is insanely entitled; wanting pizza Friday’s, office party every month, etc. now girls leave in the middle of the day to get their nails done. You’d be out the fucking door if you tried that then. Also a hint of making anyone’s day more difficult by being a drama queen/ equivalent sjw and you were gone.

All those hipsters coffee shops and bars and restaurants were no existent. People drank and ate st home, and certainly didn’t pay more than 10 dollars per meal.

I didn't feel the recession at all, it was funny watching all the upper middle class panicking just because they had to start looking at price tags before buying shit

Barely any change at all from the norm. I lived in a country where the recession was handled quite adeptly by the finance ministry.

Well duh, Norwegian here, that's because we were barely affected.

BUY HIGH

SELL LOW

Howd you become a millionair

>military intervention is not a war

...

How fucking young can you be it wasn't even 10 years ago...

dont waste your time on brainwashed americans

the job market was in shambles

I was a year and a half away from graduating college with a bachelor's in Manufacturing Technology. Needless to say the job market tanked, and by the time I entered it there was a backlog of graduates competing for very few jobs. Fucking sucked, felt like I had been betrayed by my country. I didn't feel like I could trust any advice from anybody after going into college under the old paradigm, and graduating into the new, much shittier paradigm. I managed to find a job designing a product for sixteen.fucking.dollars an hour, a whole dollar more than the retail job I worked to support myself through school, and eventually got laid off when the project was complete. Lost my apartment, sold drugs for a few years, lost another place when that fell through, was homeless for 6 months doing shit jobs (literally cleaning toilets at one point), then managed to become a wildland firefighter. That's the thing about forest fires, you can't outsource them to the third world, it's job security.
Overall, the recession hit my life in a very crucial point, now I'm 33 and just now starting to get things back on track, but I'm afraid that I'm just too bitter, angry, and fucked up to really salvage much at this point. Crypto is my last hope of regaining all that opportunity cost, it it doesn't work out I might an hero.

Pretty sick, remembered that we were standing with a bunch of guys next to the Bloomberg terminal when shit hit the fan.

Luckily I worked on a long term contract , so I just sat it through. While people left and right got fired. People where genuily scared and stopped spending.

I was always smart with money, but after 2008 I decided I should step up my game. Now I'm saving and investing like a mofo, waiting for the next correction and buy everything in sale.

> Banks about to implode
> Various world governments bail them out
> Lefties forever furious about this, seem to think the banks collapsing would be a preferable option

Same here. I didn't have it too bad- no loans and could work at my dad's small business. A lot of friends were not nearly so lucky.

I remember my history professor in 2006 or so lecturing about the creation of the modern banking system. At one point he asked if any of us could share a personal experience in how difficult it was to secure credit at our age, and was shocked to realize that every student there had piles of zero-interest credit card and adjustable-rate loan offers.

But he assured us that this couldn't be a widespread problem as "that would risk a catastrophic meltdown and they would never do that."

It was so bad it spawned this little dumbass in reaction

t.14 year old

tell us what separates the iraq/afghanistan wars from other land wars. why is one a military intervention and not a war. i hate stupid fucking kids like you who run around screaming ACKSHALLY at everyone who gives them the time of day. you're flat out wrong.

Crypto, but already had a high paying (180k/year) job. Instead of downpaying a house in 2015 went balls deep in ETH.

who's holding the gun

Me. You're the guy with pink hair.

Look around and you'll have your answer. Veeky Forumstards are still trapped in 2008

I now live in the middle of the ghetto and drink myself to sleep every night for the past 4 years

There it is hahhahahhahah

It wasnt even worth congress time to declare war haha. All they wanted to do was take down Sadam and cripple the taliban.

>"military intervention" is not a war
>what is an euphemism

I bet the next thing you're going to say is that "civilian casualties" are not "civilian deaths"

Shit hot non event of the century. It wasn't a recession, it was a farce where the books were cooked and only a few people in West bumblefuck USA felt any heat because they spent all their money like moon crickets. The end.

Belgian, nothing special happened

More like collateral damage. You do know people we were after would use civillians as human shields right?

They purposely hung around schools and hospitals knowing it would be hard to strike those areas.

>everything goes on as ever
>have to read about trillion dollar gibs to the (((banks))) for years

Greatest theft in history and no-one gave a fuck.

lol how old are you moron? jesus christ pol is literally retarded

85

I went from having my own little hvac business to losing every thing and living in my truck in the back of a wal mart parking lot in Orlando. And there was quite a few other cars back there doing the same thing.

They will be the people that kill themselves next crash

I think a lot of people thought it was the death of the market, for ever

>More like collateral damage.

Another euphemism. Keep the mental gymnastics up, though.

>You do know people we were after would use civillians as human shields right?

Yes, and I don't expect a war to not have civilian deaths, because I'm not retarded. My point is that you're fucking retarded for not recognising an euphemism for what it is, and a military intervention IS a euphemism for war.

It tells me something that people like you have or will have voting rights, when you show no awareness of even the most basic forms of rhetoric.

not surprising only a boomer or the son of one would be this fucking stupid

Fuck mate. That's hardcore . I had to fight for money during the recession. But I like fighting. Hahaha. Crypto millionaire now as well..maybe the recession was a blessing ?

Call it what you want friend. You are awfully retarded if you think we went all out, used our full potential for these "wars".

My argument is that we didnt even try with these armed conflicts it was more like policing.

desu it was made out to be worse than it really was. i didnt notice anything major but i wasnt a mortgage nigger. only thing that really changed was that lazy unemployed shits now had an excuse. i must have heard "i cant get a job because of the economy" a billion times

I was thriving.

Thats how I remember it too. My fathers small business was actually thriving. A bunch of lazy assholes got laid off because people were more careful with their money, thats about it.

>You are awfully retarded if you think we went all out, used our full potential for these "wars".

>you must be in a state of total war for any military conflict to be considered a war

Yes, you actually are this retarded. I guess the Boer WAR wasn't a war after all because the British didn't put their entire fleet and military into the conflict. Jesus, how can historians be this wrong? This /pol/tard who left his containment board proves them all wrong!

Pull your head out of your ass, you fucking cretin.

I was pretty lucky, i happen to start working for a new company start of 08, they did pretty well through the recession, boss was smart and happen to get a fair few government contracts before hand, ended up staying there for 7 years before resigning.

the funny part is that people I worked with assumed I was some trust fund kid because everybody younger in that industry in LA seemed to have financially secure parents who would (((support))) their kids with rent etc.

My rate was always aggressively higher than many people I worked with but I was working from a deficit - as I had come from a single mother household. Oy vey.

best.
times.
ever.

anything worth investing in was going down in price.

Don't forget the Pearl Harbor military intervention. Limited airstrikes and no boots on the ground = no war

>Counter terrorism = War

okay buddy

We need to strap in and not because we're going to the moon, but because we are going to the depths of hell and it will make 2008 seem like knee scrape. This is going to be a complete fucking bloodbath.

Yeah, I mean, the US wasn't even at war with Japan because they never invaded the mainland, and the "conflict" was just some naval skirmishes and bombing runs.

This.
The recession was essentially hearing everything sucks every night on the news, then going to the mall and seeing more people than ever.

But congress actually declared war at that time...

You had some money saved for retirement, some stocks, yada yada. You had a job some savings, a nice house, things seemed good. Some of your friends got laid off and they're having trouble getting back on their feet again. You help out as best as you can. You're not really paying attention. After a bit, you hear the talking heads talking about a bad job report. And negative GDP? Then another bad report. And another. More layoffs. Then you get laid off. That's fine, you can find another job, you're not like those idiots. Then the stock market tanks. No one is hiring. You go on unemployment. It's not enough. You dip into your retirement finds, sell stocks at the bottom. If you don't, your house gets repossessed. You start applying at McDonalds even though it won't be enough to pay your bills and you're massively overqualified. You interview next to your friends who got laid off two years ago. Eventually you get a job making 75% of what you once did. You're still working there today.

In Russia it was a really good time. Abundance of white-collar jobs, where you surf internet and do nothing. Rapid growth of computer technology, girls who were into emo and metalcore, golden age of russian imageboards, broadband internet (existed for years, but there were many more providers), piracy was rampant, new music, new vidya, golden age of MMOs, economy has finally stabilized after the cataclysm that was caused by Yeltsin (major currency in the country was US Dollar before!), cheap and tasty food, etc, etc.
I might be off with the timeline, because great times didn't start in 2008, but a few years before. But it still was pleasant to be alive those days. Shortly after, it has all gone to shit.

t. 13 year old

you never even served in the military or in government during these times of war, how the fuck do you know what "the full potential" of the us military is?

im so sick and tired of you /pol/ 16 year olds who know just enough terminology from google searches to convince people you know what youre talking about. you don't at all.

You really think we used our full potential of our military during Iraq lol

>The Iraq Resolution (formally the Authorization for Use of Military Force Against Iraq Resolution of 2002,[1] Pub.L. 107–243, 116 Stat. 1498, enacted October 16, 2002, H.J.Res. 114) is a joint resolution passed by the United States Congress in October 2002 as Public Law No: 107-243, authorizing military action against Iraq.[2]

>The Authorization for Use of Military Force (AUMF), Pub. L. 107-40, codified at 115 Stat. 224 and passed as S.J.Res. 23 by the United States Congress on September 14, 2001, authorizes the use of United States Armed Forces against those responsible for the attacks on September 11, 2001 and any "associated forces". The authorization granted the President the authority to use all "necessary and appropriate force" against those whom he determined "planned, authorized, committed or aided" the September 11th attacks, or who harbored said persons or groups. The AUMF was signed by President George W. Bush on September 18, 2001. As of December 2016, the Office of the President published a brief interpreting the AUMF as providing Congressional authorization for the use of force against al-Qaeda and other militant groups.[1][2]

Now you are moving the goalposts, but also ignoring the fact that undeclared wars happen all the time.

The Vietnam War was a war, yet it was never declared. Congress doesn't need to declare shit for it to be a war. The only thing an official declaration of war does is make the US officially recognise that they are at war, and bring all the political and economic baggage with it that a war declaration implies.

The middle eastern conflicts we've had, whatever anyone chooses to call them, were severely taxing. Certainly not in casualties, neither was the Vietnam war in that sense. Significant costs were incurred in military spending and destabilization of the region, which had far reaching implications that we are still seeing develop. A military conflict on that scale was indeed not so "dangerous" if analyzed from a perspective of military power. A conflict with larger foreign powers however would prove crippling to the US. Yes we boast a massive defense budget but the insurgency scenario of those smaller conflicts is not scalable to a full out war. Our time in Iraq cost us multiple trillion despite the relative ease of conflict and the differential in power. From a quick analysis it seems the US military is inefficient and suffers a severe issue of diminishing returns with a not so high cost to output ratio. If it takes trillions to occupy a country of goat fuckers, what will an actual war with actual opponents lead to?

you're such a fucking brainlet and clearly don't know what youre talking about because you picked iraq to use as an example instead of aghanistan.

the US military rules of engagement in iraq were indicative of us using our full military potential lmao. afghanistan was a much more restricted environment because of counter insurgency tactics at the time.

look, we know youre 14, the only other people youre fooling are other 14 year olds. you are not a soldier/marine/sailor/airmen nor serve in any public capacity. you are absolutely making things up.

Nice ID, so did you got out of the truck? If yes how is your life now, and what have you learned?

it's a good question and a good answer by the guy basically people didn't expect Obama to happen and nonstop QE by the fed ever since.

this

>reading about the last recession
>TFW graduating in 2 years when the next literal depression will happen

h-hold me

i was in school. i don't remember it effecting me

>effecting
Guess again...

i was in university in europe studying bank and finance, we learned about the bailout system for banks, a bank has to give X amount to the funds every year

i had to redo the course when the crisis hit

next year the sylabus was totaly different cause that "bank fund" got emptied over night and all the governments had to bail out the banks, i lolled