![]() When the housing market crashed, because people couldn’t afford their homes anymore, everyone got screwed. Then they made bad loans and they sold parts of those loans to people pretending they were good. The reason that happened was so much of the entire countries’ economic activity had centered on real estate and the idea that it was going to continue to go up and up and up. and England and Ireland and Europe was bad all around. So, the real estate situation in the U.S. The real estate situation affected all major economies, probably except China, but China then had less demand. Other countries are doing a much better job than we are in the U.S. Three or four weeks ago they were like, “One in three chance of recession coming,” and now I think the consensus is that it’s definitely coming. I think that what economists are saying is that we are not necessarily in a recession yet, right now, but something is 100% coming. I was paying attention.Īnd then 2008 was the great recession, which was caused, of course, by the crash of the real estate market. I’m 35 but I was doing freelancing and stuff then and paying a lot of attention to tech media. I have lived through two recessions so far when I was paying attention to business stuff, the first one being the dot-com crash of 2001. I’m not an economist, but here’s my understanding. I do read a lot, but I’m not going to be like one of those jackasses on Medium who says I’m not an epidemiologist, but here’s what millions of people should do. I’m not an economist, which is important to state. ![]()
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