#GreatRecession

[saracausey1]

🤣😆😂

What a gas!

Actually, good sir, you CAN see bubble conditions when they are happening. Anyone with half a brain could look at the FOMO and YOLO in the housing and job markets during ‘rona and tell we were in an artificially overheated bubble. The social media BS/hopium artists who told everyone that the Great Resignation would last forever and John & Jane Q. Public would forever have the upper hand: where are they now? Onward to some other bogus nonsense, I suppose.

[biglisbonnews]

From overhiring to optionality: what we can learn from layoffs 2023 isn’t the first layoffs we’ve seen. We can point to plenty of times when cutting staff was the probable option, if not the popular one. To dig into what’s happening and what we can do differently Quartz at Work turned to Tim Sanders, VP of client strategy at Upwork, former chief solutions officer at Yahoo, and…Read more... https://qz.com/from-overhiring-to-optionality-what-we-can-learn-from-1850267076

[yes-lukewinter]

That a show which was originally about a dysfunctional mess of a family barely clinging to middle class life in the aftermath of the Reagan administration has now become aspirational is frankly the most on the nose manifestations [sic] of capitalist American decline I can think of.”

The Life in The Simpsons Is No Longer Attainable - The Atlantic

[buckeyenative01]

It took 12 and a half years, but I finally reached 100,000 miles on the odometer. Bought my 2008 Honda Fit Sport brand new in March 2008 (what a great time to buy a car!). Automatic (I know, I know...). Sometimes it reaches speeds of 3mph if I drop the waxing compound (#mst3k) Here's to 100k more miles in Brutus II: The Silver Bullet. I'm sorry about having to get new front and rear bumpers. One of these days I'll learn how to drive without hitting anything. #honda #hondafit #hondafitsport #hondajazz #hondacars #igerscars #carsofinstagram #igcars #car #automobile #icelebratethedumbestthings #2008 #greatrecession #odometer #1000000 #100k #mysterysciencetheater3000 #spacemutiny #rollfizzlebeef (at Flagstaff, Arizona) https://www.instagram.com/p/CDkoerxHC9Nh0eS3Qrm0QaR6ggxnG6DIWt-HX80/?igshid=1insf9ci0x3oh

[itstimetofite]

Welp, this is awkward 🤷🏾‍♂️ #ItsTimeToFITE. ItsTimeToFITE.com/join.

[limite-central]

The bankers who broke the world

[milesdemos667]

Economic Inequality Casts Shadow On the Future of Millennials- Voting Is The Answer.

Economic Inequality Casts Shadow On the Future of Millennials- Voting Is The Answer.

As we stand this evening, still flush off the bounce given us by the eight years of sound economic practices President Obama put in place for us, it’s tempting for many millennials to feel good about the economy.

Right now we’re all doing pretty good, but that will only last for a single day compared to what is coming next.

After all, we’re also the generation that is poised to have the worst…

[yanarchy072]

・ ・ 『ノマドランド』観た。 心に残る観て良かった傑作だった！ ・ ｢人間なんて所詮は地球の一部なんだ。｣って思えたらこれ幸いなんだが。 普通が一番難しい。 死ぬ時に後悔しないような生き方をしているか？ 人生はゴールのない旅なのかもしれない。 ・ #ノマドランド #nomadland #クロエジャオ #chloezhao #フランシスマクドーマンド #francesmcdormand ・ #ノマド漂流する高齢労働者たち #nomadlandsurvivingamericainthetwentyfirstcentury #ジェシカブルーダー #jessicabruder ・ #ノマド #nomad #グレートリセッション #greatrecession #リーマンショック #bankruptcyoflehmanbrothers #20080915 #september152008 ・ #映画 #movie #ビバムビ #instamovie #moviestagram #instagood #instapic ・ #staysafe #socialdistancing #withコロナ #newnormal (TOHO シネマズ 日比谷) https://www.instagram.com/p/CNCs1xcA9Hp/?igshid=mnoh0aqf5syd

[biglisbonnews]

There is no US debt crisis Some of our posts include links to retailers. If you buy something from clicking on one, G/O Media may earn a commission. Because editorial staff is independent of commerce, affiliate linking does not influence our editorial content.Republicans in Congress are threatening once again to force the US to default because they lack the votes to enact their preferred fiscal vision.Read more... https://qz.com/there-is-no-us-debt-crisis-1850013109

[tallmantall]

#JamesDonaldson on #MentalHealth - Unemployment, #Isolation And #Depression From #COVID-19 May Cause More ‘Deaths Of Despair’

#JamesDonaldson on #MentalHealth – Unemployment, #Isolation And #Depression From #COVID-19 May Cause More ‘Deaths Of Despair’

Photo by Anna Shvets on Pexels.com

PHILADELPHIA — Even before protesters across the country took to the streets in rage and grief over police brutality, #Americans were already facing unprecedented #stress, #isolation, #depression and fear brought on by the #COVID-19 #pandemic.

Earlier this month, as the country began to consider relaxing stay-at-home orders and reopening businesses,…

[sujenlake]

Cave dwellers

(from Leanander Archives): Played hooky from group practice yesterday to have a day off. The Bodum store has been on my mind recently (their things are perfect yet understated functional forms) so I decided to go to Chelsea, meet a friend there for coffee and then we would go look at some galleries. The friend then got a migraine, so ahead with my plans despite the dubious weather. I haven't been down 14th street in a while, or at least not on foot where I would notice this: the store, along with a few others familiar to that block, have all been replaced with fashion designers. The Bodum store was sleek and shiny too, but airy, light, and had an airy light coffee bar; the whole place took advantage of the wider-than-average street and low building height by constructing a floor to ceiling glass front and white and light wood interior to reflect the tremendous light of their southern exposure.

Now occupied by (I think) Stella McCartney, whose clothing designs I actually like, but the store, AND EVERY OTHER STORE ON THAT BLOCK, was a cave of black walls and narrowly focused spotlights. And the region of activity within and without was of a highly-fashionably-dressed species that one normally associates with 5th Ave. And it reminded me of why I avoid the Chelsea galleries - the entire region has this taint of materialistic commerce, hype, competitive transactions in a vaccuum - either an all-white or an all-black cave within which people lust after things rather than simply appreciate and enjoy. Of course one can simply appreciate what's there but the atmosphere seems geared towards a totally different attitude: without adornment, you're nothing.

South of this I wandered, the weather now turning to whipping winds and rain, in search of the elusive place to relax with a coffee and light and space. I looked for Chocolate Bar, which was tiny, but bright and minimally noisy - ALSO GONE. The vegetarian coffee&lunch cafe across the street was still there, but it was crowded, dark, and noisy with music and espresso making. Corner Bistro, the coffee house next door, everyplace I encountered seemed to have this claustrophobic, damp, cave-like quality, separate little cocoon-pods strung on the tree of the West Village. I was seeking the wrong thing in the wrong place. I walked across town to Joe, found a setting for my mental state, and slurped away depressing thoughts of impermanence.

Originally posted October 26, 2008

[punkecodavid]

"I think that since everything is going up and our wages are going down, to strike is necessary for our generation" #loyolauniversitychicago #loyolaramblers #gradworkersunite #onstrike #oureconomy #greatrecession #économieaméricaine #etatsunis #vivelarepubliqueamericain #freedomlibertyandjusticeforall #liberteegalitefraternite #activism #organizing #studentactivism (at Loyola University Chicago Mundelein Center for Fine and Performing Arts) https://www.instagram.com/p/Bwp0838gRUW/?utm_source=ig_tumblr_share&igshid=1cttr2cmje7um

[realestatedigitalsales]

Coronavirus pandemic leads to cratering of Airbnb bookings, setting U.S. up for another housing bust like the “Great Recession”

Coronavirus pandemic leads to cratering of Airbnb bookings, setting U.S. up for another housing bust like the “Great Recession”

Coronavirus pandemic leads to cratering of Airbnb bookings, setting U.S. up for another housing bust like the “Great Recession”

By JD Heyes   (Natural News)  The development of the Airbnb concept was touted as the next wave in the hospitality industry, driven by a Silicon Valley-powered network and good old-fashioned principles of capitalism. Would-be entrepreneurs borrowed money to buy new properties they could ‘rent out’ as the virtual bed-and-breakfast idea took flight.  “At first it works. Your properties fill up, your reviews are great, and your projected cash flow is twice what you would receive for a long-term rental,” notes John Rubino at Dollar Collapse. “You — along with thousands of others — are thinking ‘real estate empire.’” But then, along comes the Wuhan coronavirus and things change — nearly overnight. Like fewer Americans want to get in someone else’s vehicle, a la Uber, even fewer want to sleep in a bed that has been occupied by others.  And so, Airbnb bookings have cratered, and the company itself is now reporting hundreds of millions in losses — enough to tank the enterprise altogether, if things continue on the current course. The Wall Street Journal reported:  Airbnb Inc. is considering raising capital from new investors, as the home-sharing giant wrestles with escalating losses due to the devastating impact of the coronavirus pandemic on its global business, according to people close to the company. The pandemic has also thrown into disarray Airbnb’s plans to go public this year, and the company’s board of investors are divided over the best path forward, according to people familiar with the matter. But there’s a secondary problem, as Rubino notes: What happens to all the mortgaged property bought by those would-be real estate tycoons? Without rentals, they’re just property soaking up monthly income that, perhaps, the owners can’t afford to pay indefinitely without them bringing in revenue.

The problem is, how long will the pandemic last?

“Now what do you do? You already have a house of your own so you can’t move into one of your rentals,” he writes. “You borrowed to buy your properties so you have big monthly payments. And even with the government’s mortgage forbearance program, you’ve got maintenance and taxes to cover, and little income with which to do it.” The easy answer really isn’t so easy: Selling. But who’ll buy? Rubino notes that in March, pending home sales sank nearly 21 percent and worse, according to real estate tracking site Zillow, big price reductions on existing homes are becoming the norm. So property bought at the peak of the Airbnb ride may now be worth 10-20 percent less than when the purchase was made. That means not only are people stuck with mortgages, they’re underwater on their loan. Not a good place to be.  Is there any good news here? Maybe.  As ‘far back’ as February, there were a number of housing markets reporting shortages of homes. When that happens, bidding occurs and prices always go up. Good for the seller, and really, not too bad for the buyer since the latter has managed to secure a property in a tight market, which isn’t easy to do. The problem is, how long will the pandemic last or, at a minimum, the economic damage it has wrought? That really depends on how quickly states can open up their economies, and that depends on the prevalence of COVID-19. Some governors are already opening up, much to the angst of experts who say it’s just way too soon to do that. The problem with opening too soon, of course, is that it risks a relapse — a re-emergence of the disease. And that will delay future openings of the economy even more. What’s more, people who have lost jobs are also now at risk of losing their homes. So while ‘Airbnb foreclosures’ seem increasingly likely, so, too, do foreclosures of primary residences.  Are we set to experience another “Great Recession?” Read more https://global.goreds.today/are-real-estate-agents-and-los-entrepreneurs/   Read the full article

[theedenofknowledge]

The Great Recession (2007-2009)

The Great Recession was a period (between 2007 & 2009) of global economic decline which led to the destruction of the financial markets and greatly effected the United States.

What caused this catastrophic event? And how did the economy recover?

[365daysofsnark]

September 15

Investment firm Lehman Brothers filed for Chapter 11 bankruptcy protection on this day in 2008, presaging an economic collapse, housing crisis, and recession. If it was their bankruptcy, how come we're the ones who lost our shirts?