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NotANaziIWasJustBornIn1988

Mommykink

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Joined 2 years ago
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Cake day: June 11th, 2023

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  • NigahigaYT@lemmy.worldtoLemmy Shitpost@lemmy.worldPanic! on the trade floor
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    17 days ago

    Says who? Billionaire investors and regulators for a newly-elected President who saw an imaginary red line go up for two consecutive quarters? “Peace for our times.” The '08 crash was (is) massive and will be the defining event of the 21st century for future historians. Literally nothing but WW3 could overshadow it’s legacy.

    Notice how the “timeline” section doesn’t end with “and then everything went back to normal in June 2009.” Tens of trillions of dollars evaporated overnight.

    Wikipedia | 2008 Financial Crisis

    Selections:

    2011: Median household wealth fell 35% in the U.S., from $106,591 to $68,839 between 2005 and 2011.

    2014: A report showed that the distribution of household incomes in the United States became more unequal during the post-2008 economic recovery, a first for the United States but in line with the trend over the last ten economic recoveries since 1949.

    2017: Per the International Monetary Fund, from 2007 to 2017, “advanced” economies accounted for only 26.5% of global GDP (PPP) growth while emerging and developing economies accounted for 73.5% of global GDP (PPP) growth.

    A shrinking median household incomes, racial wealth inequality, the rise of non-Western economies, do these not sound like contemporary issues to you?