this post was submitted on 18 Apr 2025
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[–] [email protected] 2 points 31 minutes ago

My 25 year old son has talked about how many of his friends throughout school and college were devastated by the 2008 crash, and their families never fully recovered. We were one of those families. At the time, we lived in the county that had more foreclosures than anywhere else in the nation.

And yet there has hardly been any discussion of the extensive human damage that was done. Profitable businesses got bailed out, but nothing for people whose houses and vehicles were taken, credit ratings destroyed, jobs lost, etc.

[–] [email protected] 2 points 13 hours ago* (last edited 13 hours ago)

I got a job as a security guard for a contract security company. That position had no hope of ever receiving a pay increase (not even an annual $0.25 COL adjustment) and it had very little opportunity for advancement. I quit for good after the second time the client security-manager kept me after I was off the clock for twenty minutes to chew me out and curse at me. -The client company was the embodiment of Late-stage capitalism as it was a prescription benefits manager.

[–] [email protected] 0 points 13 hours ago (1 children)

Is the answer that their parents paid for all of it as is the case for most people under 18?

[–] [email protected] 1 points 4 hours ago* (last edited 4 hours ago)

Millennials start in 1984. About half of the generation was over 18 in 2008.

[–] [email protected] 7 points 14 hours ago

For me it's simple: I lost my planned career. I was going to be a librarian. The money to give me a scholarship dried up. So I pulled myself together, bopped through decent jobs for a decade or so, and now have a career.

[–] [email protected] 14 points 18 hours ago

In 2008 before the crash I was coerced into buying a house I couldn't afford by an ex. Back then, they would give mortgages to anyone with a pulse, and no that's not good. It should be good but in the context of that moment it was really really bad. After the crash the house went under water metaphorically and literally and totally ruined my life. Don't do things you don't want to do folks, trust your gut.

[–] [email protected] 5 points 19 hours ago

I ran away to China cause I was getting fat unemployment checks that more than covered cost of living there. Ended up starting a new career because of it. Too bad we made all our allies our enemies this time. Maybe I can go begging in Windsor.

[–] [email protected] 11 points 19 hours ago

I spent most of my time gaming and not going out. Frozen pizzas, top ramen, bulk stuff to keep costs down.

[–] [email protected] 6 points 19 hours ago

2008 I started college because I couldn't find a fucking job. Took me about 12 years to finish as I stopped when my kids were born to get a job to support us. But in 2008 taking out loans and going to school was what supported us until my wife was able to get a job that could support us both.

[–] [email protected] 30 points 20 hours ago (2 children)

They got revenge on those who intentionally crashed our economy dragging the corrupt bankers hedge fund managers and politicians responsible to the streets, stripping them naked and whipping them until they learned the lesson : The People will not abide their usury anymore.

Or did we just give them more of our money ?

I forget.

[–] [email protected] 3 points 5 hours ago (1 children)

Yeah I liked Obama but the bailouts were grade a bullshit.

[–] [email protected] 1 points 1 hour ago (1 children)
[–] [email protected] 1 points 36 minutes ago

There wasn't a whole lot of difference.

[–] [email protected] 21 points 19 hours ago* (last edited 4 hours ago) (3 children)

Golden parachutes and not a single banker went to jail.

[–] [email protected] 5 points 14 hours ago

Do we want the baker's dozen insanity again‽ Complete insanity I tell you!

[–] [email protected] 7 points 18 hours ago (1 children)

Sure they did, who do you think keeps baking all them files into the cakes?

[–] [email protected] 5 points 16 hours ago

Is that what Enron did with their files? I gotta pay better attention.

[–] [email protected] 6 points 18 hours ago

People still listen like Dimon has anything worthwhile to say to the public.

[–] [email protected] 7 points 20 hours ago

I just moved out, I had a good job at the time that was unaffected by this (healthcare) and, if anything, thriving. Nobody I knew was really affected by this either. I think we were too close to starting our careers for it to do much to us.

[–] [email protected] 7 points 20 hours ago (1 children)

Gen X. 2008 I was working full time as a systems administrator for an envelope manufacturer. All those foreclosure notices weren't mailing themselves...

It was hard seeing people I worked with nearing retirement age have their entire portfolios wiped though.

Of course if they had invested when the Dow was 7,800...

[–] [email protected] 5 points 19 hours ago (2 children)

Were they not invested in target retirement funds? If you do it right your portfolio shouldnt do that.

[–] [email protected] 2 points 18 hours ago

I don't know what they were invested in, but I remember the weeping.

[–] [email protected] 4 points 19 hours ago (1 children)

You don't even need to do that. Just use regular index funds and shift the percentage of your total investments to be more and more bond heavy as you get closer to retirement. Avoid those fees that those target funds have.

[–] [email protected] 5 points 19 hours ago

Sure yes of course thats another way to do it. As always, if you do it yourself it will be cheaper.

[–] [email protected] 18 points 20 hours ago

tl;dr: it didn't really affect them

[–] [email protected] 98 points 20 hours ago (4 children)

wow save yourselves a click on this one, complete filler "generations" clickbait

not a single goddamn thing to say

[–] [email protected] 9 points 15 hours ago

I read the article, and I am also not really sure what the author was trying to accomplish. Right now (in the US at least) is not very similar to 2008 and I am unsure how many "lessons learned" for folks like myself would be useful.

[–] [email protected] 3 points 17 hours ago

Probably written by ai

[–] [email protected] 9 points 18 hours ago

Thanks for the warning. Click saved.

[–] [email protected] 37 points 19 hours ago

That's not true, it says 'don't worry about it it's not your problem' which is terrible fucking advice.

[–] [email protected] 26 points 20 hours ago (3 children)

In 2008, I was spending 90% of my time playing TF2.

[–] [email protected] 7 points 19 hours ago
[–] [email protected] 4 points 19 hours ago

Left 4 Dead was my vice at that time with TF2 close behind

[–] [email protected] 5 points 20 hours ago

Same, TF2 and BF2. I watched a stupid amount of South Park also.