this post was submitted on 13 Aug 2023
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The dotcom bubble was one of the middle dominos on the way to the 2008 collapse, the fed dropped interest rates to near zero and kept them there for years, investor confidence was low, so here come mortgage backed securities.
In addition, the bubble bursting and its aftermath is what allowed the big players in tech (Amazon, Google, Cisco etc) to merge to monopoly, which hasn’t been particularly good
Most Americans didn't even feel the effects of the 2008 collapse. Most recessions aren't noticed by most of the country. These things are blown way out of proportion by news conglomerates that have a vested interest in it.
Um no. So many of my friends unemployed. So many people were losing houses. It was nuts. Everyone noticed. The government even gave us “please don’t riot” money.
All your friends lost thier jobs and houses. Uh huh.
I even remember going to downtown Detroit to repair scratches on desks on entire floors of a empty of employees skyscraper right on Jefferson. Hipsters bought an empty skyscraper as well up in New Center. But yeah, no one affected.
The company I worked for went from 12 to 5 employees. I bought a house for 15k because so many people lost them and the prices collapsed. Did you live through it? Maybe you were just insulated or ignorant of what was happening.
I already said it didn't affect me or any of my friends or any of my family, or anyone else I know.
You have got to be kidding me. I don't know a single millennial who wasn't affected badly by 2008.
Not a single one! Let me guess, you know one.
You're either trolling or you live under a fucking rock.
I wasn't, but after everyone on lemmy suddenly became affected by 2008 I have been trolling.
It's funny though, there was a post recently about how most Americans don't even notice the effects of a recession and everyone agreed in the comments. But here magically it's the opposite.
this has got to be trolling.
Is this Elon musks account? Because for you to be so out of touch as to say the insane shit you just said you must be extraordinarily wealthy or a hermit living in the woods with nobody else around
You're so cool
What are your thoughts on the Great Depression or either World Wars?
Idk, probably not the same thoughts you had deciding to chime in to a 5 day old discussion.