2008 happened for the exact same reasons as 1929, because some of the protections put in place because of 1929 had been rolled back many years before. It wasn’t as deeply bad because (dare I say) the US had a reasonable executive branch very shortly after.
But none of those protections were reimplemented. Credit default swaps are still totally a thing, for example.
The “reasonable executive branch” decided that bailing out Wall Street was a good idea instead of bailing out the people. Just more Reaganomics, which always leads to economic struggle.
There’s a reason why nobody under the age of 40 (and also above the age of 40) has been able to afford a house since 2008.
Obama just looks reasonable compared to the disasters of Bush Jr. and Trump.
Yeah unregulated capitalist economy did that. Good thing we didn’t deregulate the economy since then though.
/s
2008 happened for the exact same reasons as 1929, because some of the protections put in place because of 1929 had been rolled back many years before. It wasn’t as deeply bad because (dare I say) the US had a reasonable executive branch very shortly after.
But none of those protections were reimplemented. Credit default swaps are still totally a thing, for example.
The “reasonable executive branch” decided that bailing out Wall Street was a good idea instead of bailing out the people. Just more Reaganomics, which always leads to economic struggle.
There’s a reason why nobody under the age of 40 (and also above the age of 40) has been able to afford a house since 2008.
Obama just looks reasonable compared to the disasters of Bush Jr. and Trump.
even bush jr seemed reasonable compared to trump.
CDS markets are also, currently, right now, freaking the fuck out rofl.
Ive been saying this since Trump announced his tariff / deportation policies before he got elected:
Great Depression 2.0, with nukes and climate change this time!