Ok but like a 2008 or?

depends what bubbles pop. 2008 was so insanely bad that it feels unlikely it will be just as bad by comparison unless there's a huge market catalyst from a bbble crashing, but if the tech-VC bubble pops for example (which is not impossible if you look at recent crypto disaster) then yeah this s***s gonna be worse than the great depression lmao

Worse

I thought that it's been a recession the last two years in the states - my bad if that's dumb. If that's not the case, what have the last two years been?

Kicking the recession can down the road in the most ineffective, irresponsible, and damaging ways possible

We talking Great Depression, Dustbowl.

Slugburgers baby!

Everything just feels like a neverending recession since 2008 so it's hard to fathom how bad it could really get

it's been an inflationary period but not technically a recession yet; recession is generally related to a negative GDP growth + rise in unemployment + sustained stock market dropping + housing market dip. We're getting there but as @americana said we've irresponsibly pushed down the line in very damaging means, meaning when it actually arrives it will be significantly worse than what it would have been had it been happening now.

mfw your government injects $1.5tn into a dying stock market to prevent the crash for like a year

No matter how bad things are, things could always get worse

I’d actually argue that this is just stage 2 of 2008. Fundamentally we changed nothing after 2008 and many of the main offenders are still around.

@americana @krishna_bound thanks for the responses

Can you expand on some of the ways this recession has been delayed/irresponsibly pushed down the line?

when the VC-tech & VC-advertising bubble(s) finally pops like every bank and financial firm in the country is basically going out of business lol

Economic contraction, proxy war with Russia, Trump coming back.

It's not looking good folks. That's not a combination you want.

sounds like i need to withdraw all my cash out

Some of the government provided income such as PPP loans, stimulus packages, cash injects, etc (not the checks or unemployment benefits) vastly increased the amount of cash in our system, and we only kept printing more

The housing market is basically dictated by real estate corporations who can inflate prices because they’re their own competition and everyone that big is in cahoots. Boomers are happy to join along for the ride

People dropping entire life savings into crypto and now that the green line isn’t going Up people are pulling out, leaving tons of others with a very precarious amount of money left in there

Cut social programs, gutted public spending, massive deficits, stagnant wages against soaring inflation, etc

There’s a reason the Supreme Court has been locking down on labor laws

i'm not an economist so take what i say with a grain of salt, because even economists themselves disagree among themselves (lol) about the reasons for recessions. There's a lot of different factors at play and it's multifaceted. Obviously as well this is what people write PHD theses on, so im just gonna try to summarize it for you in bullet points (as you can see most of these are interlinked);

-lack of changing market conditions or financial regulations post-08
-poor handling of the pandemic causing artificial spending hike which was unsustainable
-poor handling of the pandemic which caused a ripple in the labor market, of which the US was relying on an unsustainable infinite source of underpaid cheap readily available labor prior
-unsustainable investment bubbles (tech, housing)
-artificial market hikes coming from asset speculation which turned out to be worthless (much of crypto for example, tech, etc.)
-businesses being greedy (as usual) and trying to inflate earnings at an unsustainable rate, which in turn hikes up relationships with banks and credit in ciruclation, and that credit becomes unsustainable after a rate when they can't keep aritficially keeping up profits, negatively affecting businesses & banks (financial institutions in general)
-inflation
-increased greed in market conditions regarding things like real estate pricing consumers increasingly out of upward mobility, causing economic contractions in spending
-printing tons of money to hand to businesses for virtually no reason to artifically spur the economy with no hope of consistent sustainability
-supply chain issues and dependence on overseas labor and exports
-global conflict leading to economic contractions
-asset devaluations happening due to credit crunches
-many businesses being long term unsustainable but propped up by subsidies, credit, and investment and our system being largely entangled in these coalesced businesses, causing the speculation's decline and credit crunching to entrap the rest of the economy

dont worry when tech-VC bubble crashes it doesnt matter where you keep your money its gonna be worthless lmao

gold truthers won

oh absolutely

It’s over