In 2008, there was a big stock crisis, everyone says that. We used many dollars from state to refund banks and not let the system fall down. Well, okay. While I agree on the existence of the 2008 crisis, the problem is that, I feel like we're still inside it and that anyone act as if it was not a closed chapter. I am starting to find long that "2008 crisis era" and philosophy. Is this not too long? It is 7 years back, why still we feel inside it? While we didn't recovered yet? And why problems like Greece or Puerto Rico continue to happen, seven years later? I am starting to think we justify things under "2008 crisis" meanwhile the real market reason isn't that. What do you think of it?
Those are some very good points, I am also of the idea that the effects of the crisis are still very strongly with us at present. I think a large part of it may be the fact that in the period prior to the crisis, our global economy, although growing was very flawed. Fast-forward 7 years and can we say our economies today are fundamentally more secure or stable than they were prior to the crisis? 2007/08 was also the first time we experienced contagion the way we do today, so suddenly your "safe haven" assets aren't necessarily so safe, suddenly what was always assumed to be a safe hedge, was no longer, as the threat of contagion spread across the globe. As a result I believe investors are now more discerning with their money. I'm not too sure whether 7 years is too long, it's certainly a lot longer than what was hoping for. However, if you think of the great depression, it lasted 10 years, I know there are so many incomparable factors to consider, but purely based on timelines, this current 7 year period might not necessarily be too long. I've also recently read an IMF piece, that indicated that global recessions tend to last for a period of 8-10 years, so if that's anything to go by, we should be at the bottom end of this one.
Well, I am sure that the fact countries are still falling are telling us that it is still there, and the fact some other West countries could be in a bad shape financially, and by this I mean even more than the current debts of a lot of governments, still make us feel like we are in crisis. How could we feel other way, since some countries just close down the door and enter in a deep transformation, with tough lives inside the board? Thanks for the information about mean/average period of recession, but honestly I hoped it would not be that long. But the problem is that investors thinks there is a safe heaven out there, outside of leaving the money on your account (and not on the savings account) or leaving it in your suitcase. If you can earn money on it, there's always a risk to loose. But a lot seems pretty okay with that.
Depends on where you are looking. For the USA, since 2008, the stock market has been doing really well, inflation is gone, unemployment is down and the economy continues to grow. Obviously things are not perfect, but since 2008, the slope has been up, especially for the stock market. Greece and PR are just the same problem.. Government leaders who spend money they don´t have expecting someone else to bail them out repeatedly. They are both like spoiled kids who now are acting shocked when their parents finally say no. While most people blame the leaders, and certainly it is their jobs to be responsible with spending, the major blame lies on the people themselves. For the last two decades, Greece has basically elected whomever promised them the most benefits. Even as the world was crashing around them in early July, 60% of the people of Greece still voted like spoiled brats who expected to be given stuff even though they couldn´t afford it. Better to blame Germany.
I think that part of it is about perception, it is true the people that still have money are now gun-shy and they just do not want to put those hard earned dollars back into anything to fast. Can't say I blame them in the least, no one wants to lose what they worked hard for through something they cannot control. If you were able to retain some of what you had prior to 2008 you probably feel better today and have more optimism on the future. But what if you lost so much that to be able to re-coup what you lost would be about the same as having to re-do almost everything you did up till that point? Would you feel as optimistic? I doubt that, and there are quite a few people still in that boat. people that investments, savings and jobs. It might seem like you should be able to bounce back in 8 years but in reality sometimes when people take a big enough hit life as it once was never returns. Factors like age and circumstance has quite a bit to due with the perception part. That does not mean that the government or the news is lying to everyone, there really are people out there starting their careers and going into adult life with really bright futures. Those folks might not have debt, those folks are young enough to save for their retirement and so on. What happens to those that still are reeling from there situation? they evolve.. maybe this means a change in social structure, for example parents needing to live with younger wage earners or something like that. It is different for each person. Contrary to what people would like to believe not everyone gets that white picket fence.
Okay, hm, let's talk about Greece and its 60%. You intend that 60% of Greece voted wrong. While I'm not that sure it is true, I am unable to express specifically in the topic. But even when it is true, this means that *40%* of people are in a situation they can't get out of, and this not because of their choices, since politically they done "right vote" in your opinion. When 40% are "innocent", we can't jut let them on the side with banks closed and them unable to live correctly. Now, after, doesn't matter what done Greece, no European countries should be left to the point where it becomes a nightmare. Otherwise, it's not an alliance. An alliance is not about saying "get out" to the sick countries, it's about supporting each countries, in turn, when they need it. Finally, I really would like to know what Greece did so bad to make you blame them?
