What was life like before the 2008 great recession?
Oldfags please respond
Shit, since I didn't had any hope to escape the shitstorm before Bitcoin existed.
>>1136727
There was a recession before the 2008 one in the early 90's, although the 2008 one is referred to as the Great Recession.
In times of boom, life is good. You ride on the ridge, the air is clear and the view is nice. But once you descend into those valleys, things are dark and musty. But, it is the way down into those valleys that builds the momentum for the next climb. It is the fruit down in those valleys that helps you build the energy needed for the ascent.
Do not fret about the dark times, because it is darkness that gives the baseline for knowing how bright something is.
When we break out of this hole, you will see the brightness in life. The internet will mirror the 90's internet, and we will love to be productive again. You just wait and see my friend.
There was literally no disruption in my life
But I'm not a wagecuck and have no personal debt and my business isn't leveraged to hell and back
>>1136727
There was no trump so it probably sucked
What's it like to live in a house? My parents lost theirs when I was 11 years old and we've been renting shitty apartments ever since.
>>1136727
Hope and change was actually happening. It was killed off by the nigger who lied about hope and change and brought us the opposite.
>>1136737
>When we break out of this hole, you will see the brightness in life. The internet will mirror the 90's internet
Geocities will reign supreme once again.
>>1136764
Work hard, build credit, and buy a house someday. You will see. Houses are so much better than apartments. You are the perfect distance away from your neighbor, don't have to worry about anyone hearing you through the wall, and you're the king of your own domain. You have a lawn that you can take care of, or have someone else do it, and a place to store your car. If you get a house with a garage, you will cry tears of joy the first winter day when everybody's windshield has ice on it and yours doesn't.
I was born in 1973
> the 70s
Lol fuck I don't know. I hear lots of stories of cults and serial killers and international terrorist groups. Lots of disco, I remember disco. I was a little ass kid.
> the 80's
Everyone loved Reagan. As a little kid though I didn't really trust him. Looking back on it all his biggest supporters got fucked over. All over the US, Savings and Loans went bankrupt and folded. These were the small community banks who gave loans to farmers every year. The farmers desperately relied on these loans to fix tractors and buy supplies and seed. After the harvest and eventual sales to Chicago's speculators, they'd pocket a good annual profit and start over the next year.
With no S&Ls to offer loans, farms went bankrupt .. en masse.
This led to a massive recession.
It didn't help that a bunch of retarded analysts made bad designs and bought shoddy parts and US automobiles went to shit compared to Japan and Germany. Everyone blamed the unions though.
During this time, everyone was really scared of and pissed off at communists and black people. Pretty much equally. I heard a lot of crazy racist shit growing up.
> the 90's
Bush was a dipshit but everyone loved his summer-long war. Fucking everyone. I don't know how he managed to fuck up those good ratings but he did. Clinton took over and the internet took over and everything got rad.
Jobs. Jobs fucking everywhere.
This is not to say it was all bliss for rural America. Just like S&Ls (and the GOP Congress including a young John McCain) fucked over farmers in the 80s, the EPA (and a very young Bernie Sanders) fucked over loggers in the 90s. All over the west coast, small towns were pissed off at the Spotted Owl. They weren't allowed to log where they'd always logged without paying fuck huge fines. This was initiated by Bush and perfected by Clinton.
So just like Monsanto took over every family farm in the 80s, Weyerhaeuser and Georgia Pacific took over every family mill in the 90s.
>>1136815
> the early 2000s
Dude it sucked. Everyone was pissed off at terrorists but also either pissed off at Bush or pissed off at liberals. What should have united us simply divided us.
Lies on the TV, every fucking day. Not just from Bush, Cindy Sheehan and Rachel Maddow and .. fuck everyone was lying. And mean. And pissed off.
I feel like the nation simultaneously got PTSD on 9/11 and we've never gotten the help we need. It's why we started shooting each other. Just like post-Vietnam 70s America shot each other, post 9/11 America started shooting each other again.
Jobs were shit. They were plentiful but they were shit. Lots of service jobs. All the dank jobs went overseas. And using an overseas resource as a customer or coworker/client sucked, they were so fucking inept. And prevalent.
The 2000s really just sucked.
> nowadays
I shudder to think of what millenials go through but as a Gen Xer man let me tell you this economy is the shit! It's great!
But people just starting out are starting out with a massive handicap.
***
Ask me whatever, I guess
The same, learn how markets work moron.
>>1136727
Work was steadier and it did not pike up so fast with no end in sight. I work/worked both full time and part time. We had manpower then, like three times the people. Now they expect the same work to get done with no more hours or pay. I always looked ahead towards goals, now it's like how can I hang on to what I have for a little longer. And it's not like I'm unskilled, uneducated, or in a declining industry. I don't know what to do and that's depressing.
>>1136819
The 2010's seem, if anything, worse than the 2000's. The economy took a while to recover, but it's starting to look bad again, and jobs are still overseas along with no wage growth in a few decades.
>>1136785
God damn I love my house.
>>1136727
Not as rosey as people want you to think. There was the big dotcom crash in 1999-2000, and then the crash after 9/11. The "just learn to code" meme asn't even a thought on anyones mind because all those jobs were going to india. Around late 2006/early 2007 is when everyone was wondering what the fuck was going on and starting to get worried. Also, the whole Iraq war thing. Basically, there were only like 3-4 relatively good years.
>>1136976
This is a load of crap. The Bush years were fucking awesome. I was working 60 hour weeks with double pay overtime . There was so much money going around anyone who wanted a job could do anything they wanted
>>1136727
lots of overspending and living beyond means. Also everyone wanted to be the next real estate tycoon. just how now everyone is spending shit loads on college and everyone wants to be the next app startup guy
>>1136759
underage b&
>>1136782
you obviously didn't go through the Bush years
>>1136983
your full of shit and you know it.
the first Bush years were ok because the Clinton surplus was still in effect but close to 04 shit starter to decline by 06 the car industry was already destroyed and by 08 Bush was bailing the us and throwing trillions like it was Christmas.
tons of houses lost, tons of jobs lost and in many places the only job you could get was evicting families from their house.
to those who think Obama's government is shit they either underage or in total denial
pro tip trumps proposals looks just like Bush's with a fucking vengeance he will destroy the world that I can tell ya
>>1137007
Repairing the strongest economy on the planet after a burst bubble isnt an accomplishment. Get real.
>>1137015
I never said Obama repair anything, Obama for the most part is a lame duck, bankers don't take em seriously.
what I am saying is that trickle down economics will get us right back where we started. add to that trade wars and real wars because thin skin leader thinks running a world government is like running a bankrupt casino and you better have some gold bars stashed somewhere
>>1137023
>trickledown
Bush's tax cuts raised the upper brackets' overall share and helped the lower brackets immensely. The bailouts started in 08, not 06, and were nowhere near the trillions under Bush.
Funny how Democrats blame Obama's failed Presidency on the situation he inherited while ignoring the fact that 9/11 happened 8 months after Bush took office.
I don't agree with a lot of Bush's foreign policy that undoubtedly put us into unnecessary debt, but to imply that thr Iraq war negatively effected the economy is ridiculous. War has always had a positive effect industry and it didnt magically reverse in '03.
>>1137047
>Funny how Democrats blame Obama's failed Presidency on the situation he inherited while ignoring the fact that 9/11 happened 8 months after Bush took office.
your far... far away from your red Neck echo chamber board son. people who comes to /biz/ are not even half as stupid as your buddies on /pol/
seriously if your trying to impress someone the first thing you should do is drop the liberal term and come to terms that Bush destroyed America as we used to know it.
8 FUCKING MONTHS
8 FUCKING MONTHS
4 more and it would of been a whole year it took Obama way less than that to put America under control by simply bringing the Jews at the negotiating table and telling them "we own you now and you either accept that our you can suck a dick cus no one else is bailing you"
the masters of the universe even acted humble for a couple of months while their bail out money came.
again your not fooling anyone Obama was a very good president and you'll shove that down your ass hole weather you like it or not.
> muh Bush was a good prez cus wars bring prosperity.
you ain't selling that cool aid no where no how son you should seriously change your occupation your not a good snake oil salesman but I can't blame you, not even Jeb could for the love of God sell that shit even on gold bottles.
>>1136728
That chart could use a "easily spendable" row, but that wouldn't pain crypto in a good light.
>>1137079
again this is not /pol/ buddy that reddit meme is shit.
why are you missing the trump general they are talking about that one red Neck who pawn a Nigger yesterday
shoo, shoo take your cancer somewhere else
>>1136815
Good read thanks for posting
>>1137111
Oops. "Easily transactable".
I guess it is true if people were to only use bitcoin, even though at the moment it's a pain in the balls to try to spend bitcoin on anything.
>>1137069
>. people who comes to /biz/ are not even half as stupid
>>1136996
Yeah. I was in college for software engineering when the .com crash happened. I kept hoping it would clear up by the time I graduated. It didn't. It was a year of pounding the pavement until I landed a job. I had one small promotion, then boom, 6 year pay freeze. You can't even get a raise in government these days.
>>1136728
>bitcoin
>decentralised
>>1137141
Sure glad to share.
You know I can't believe this one idiot is in here trying to assert that the economy was great under Bush.
The economy sucked.
We were inches away from a recession in 2001. Then 9/11 happened and we were urged to shop. Then Congress issued huge tax breaks for outsourcing.
Here's what John Deere and Dell Computers were offered. They were told "hey buddy. If you lay all your workers off you can claim it was because of a tough year. So we'll let you get a tax break. Then if you offshore workers to cheaper countries we'll let you get another tax break."
Jobs in IT went away, jobs in medical R&D went away, jobs in manufacturing and assembly went away.
The only jobs hiring for "60 hours a week" were in oil/fracking. Or maaaaybe home construction/contracting.
Median income slowly eroded.
Meanwhile, home prices are skyrocketing because the only other good jobs were in flipping homes.
Meanwhile, fucking EVERYONE who bought a home could no longer afford mortgages because EVERY SINGLE MAJOR EMPLOYER LAID OFF THEIR EMPLOYEES
Meanwhile, Wall Street threw all, literally ALL of their money into the "oh hey surely everyone will always pay their mortgages" stock pick.
Oh.
And meanwhile.
Gas was like FIVE FUCKING DOLLARS A GOD DAMN GALLON!! Can you imagine spending $50, $60, $70 to fill up your fucking gas tank??
This caused a direct erosion in consumer confidence and services spending. Fuck no we didn't dine out at Olive Garden as much as we did in the 90s, or as much as we do now. Fuck no, nobody went to Disneyland.
Not when you gotta budget $2-300/month car payments, $2-300/month insurance payments and $2-300/month fuel payments.
For fuck sake man. If the economy was so god damn awesome why'd everyone quit paying their mortgages?
>>1136727
There was still money in investment banking.
>>1137380
I remember watching a Sunday morning talk show in the buildup to the TARP bank bailout and 2008 election.
Rachel Maddow and Senator Phil Gramm were guests.
Sen Gramm was arguing about the strength of the Bush economy by arguing about the median growth of the Gross Domestic Product blah blah blah what have you.
This hilariously uppity lesbian reporter chick interrupted a sitting US senator to literally say, "dude, if you're trying to argue that the economy is actually secretly really awesome but everyone in America is too stupid to get it, I don't think you're gonna win a lot of votes; people want jobs, not numbers"
***
George W Bush fucked our economy. It was stagnant for a looong time, then it crashed.
Lots of people got laid off. Those who didnt, didn't dare move to a better job. Because nobody was hiring or making new jobs.
Except for temporary jobs in fracking and construction/contracting, there was shit job growth. Shit. The economy was shit.
>>1136727
It sucked ass but at least my tax dollars didn't go straight to corporations for doing a bad job.
>>1136727
Pretty good. Everyone was doing alright and buying houses and spending. Too bad most of the money spent was unplayable debt.
>>1137373
All these cucks enjoying their Backstream Corecoin
>>1136728
As a US citizen living in the US:
> fungible
Agree, it's hard for any sort of currency to be non-fungible
> Non-Consumable
Gold is consumable and can wear
> Portability
Agree with all points
> Durable
Agree with all points, USD can be easily converted into new USD.
> Highly Divisible
Agree
> Secure
Sure
> Easily Transactable
I can spend USD at any store. I can spend bitcoin at some and gold at none. I have to convert bitcoin or gold into USD otherwise, which comes at a premium. I would change bitcoin to 'Moderate'.
> Scarce
Agree, but I don't think the range of scarcity between USD and bitcoin carries as much weight as many of the other traits here.
> Sovereign
Is this just whining that there's a central authority? There are central players with gold and bitcoin also that exert similar amounts of influence
> Decentralized
Does this matter at all?
How does central control help the US government when, say, Chinese banks buy US debt?
> Smart
You can trade USD and Gold ETFs algorithmically as well
ITT Obama voters pretend the business cycle doesnt exist
>>1136727
I was 18 and could have gotten a loan to buy a house with summer job money.
a bar this size cost 0.99$ 0.75 if on sale. or if you bought 2.
It looks to be about 1 lb of chocolate
bamp
When I was young I could get a giant bag of beef jerky for like $5. The same ones now probably cost about $12-15. I swear every year the bag gets smaller and the price goes up.
>>1140139
Probably because the demand is so high from you being a fat cunt
>>1136728
Can someone explain how cryptocurrency wouldn't be a fiat currency? What intrinsic value does it have?
>>1140178
>What intrinsic value does it have?
the sweat and tears of neet neckbeards across the globe
>>1137841
>Is this just whining that there's a central authority? There are central players with gold and bitcoin also that exert similar amounts of influence
Yeah, there are select amount of people that can press a button and raise the total supply right?
I can spend USD at any store. I can spend bitcoin at some and gold at none. I have to convert bitcoin or gold into USD otherwise, which comes at a premium. I would change bitcoin to 'Moderate'.
USD has existed for ages, BTC for 7 years and it's still at it's infancy. Once we have Lightning Network and we have global, fast, cheap decentralized payments we'll see what's up.
Also once govs get rid of cash, more and more people will accept BTC.
>Does this matter at all?
>How does central control help the US government when, say, Chinese banks buy US debt?
It matters so when the government gets rid of physical cash and they start attacking Bitcoin and every other attempt to disrupt the financial system, they can't do shit nothing about it.
The fact that Bitcoin is decentralized is the reason it will be unbeatable by TPTB.
>You can trade USD and Gold ETFs algorithmically as well
You can't program USD or Gold, that was the point...
You sound 65 years old desu.
>>1140178
"Intrinsic value" is a cope.
> "what was the olden days like?"
> thread devolves into conversation about shitcoin
In the olden days people tried to earn real money because we could spend it at stores instead of this silly internet money that you can't spend anywhere
>>1140336
a hedgerow in zelda. i feel old
