I expect more to come before this term is over
Kinda sucks having a generation of spoiled narcissists in charge tbh.
You forgot “lead-addled”
Some of them could use more lead imo.
Lead-deposed
Three generations of spoiled narcissists coasting on what the Greatest and Lost built.
4th “once in a lifetime” crash, SO FAR…
When I was a teen, I said life was too boring and maybe someone should start a war or something to spice things up.
Fast-forward to:
-
russian invasion of Ukraine
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Hamas-led Attack on Israeli Civillians and subsequent Israel-led Genocide in Gaza
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Coup Attempt in South Korea
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Transition to fascism in the USA
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Trade wars against the entire world
I DID NOT MEAN THIS 💀
-
more like
Like two three years ago when they told us there might be a nuclear escalation.
Millennials: eh shrug maybe not
Remember the 80s recession? GenX remembers.
That was a bit before my time but i remember some people saying the 2002 crash was in part an extension of the 80s recession as the 90s boom was partially due to the tech boom.
You’re right — the early 80’s ugh. 15% inflation with a gas crisis. 10-15 year panics were the norm in the 1800’s too
Mortgage rates skyrocketed, people lost their homes.
Millenials born in late 80s or early 90s may not remember but it could still have affected their childhood.
Also, it could not have. “Could” anything is pretty vague. Every childhood had a preceding history.
‘Could’ specifies a possibility of an event occurring, as opposed to no possibility.
For example, I could have rice for dinner, however there is no way I could jump to the moon.
When applied to the context of this conversation:
A person born in the 90s could have had their childhood affected by the recession in the 80s. A person born in the 50s could not have had their childhood affected by the recession in the 80s.
Could is only vague in the scope of probability; this is because it’s a confirmation of the possibility, rather than a defined probability.
This cycle of republicans wrecking the world, then democrats quietly, meekly fixing the mess after like a battered wife, it goes way back.
Sounds so banal.
Who?
What?
When?
Now?
Soon.
Which Who?
The
Ah
potato
Tomato
Those sucked.
Devestated my childhood
deleted by creator
You should expect about one recession every 5-10 years.
They are all “once in a lifetime” in their own way if you want to sell news headlines.
The covid one is really the only one that really stands out as being a unique naturally caused crash, but what makes it most unique isn’t the market stuff at all.
This one has been just waiting to happen for a while, but this one being intentionally caused is fairly unique, I guess.
The size of the dotcom + great recession combined is fairly unique, making immediately before the dotcom bust one of the worst times you could have retired in the US since at least the great depression. But that doesn’t affect millennials directly and it’s the affect of two back to make crashes.
Yeah, the Trump Recession (we hope not a full-blown depression) will have been uniquely caused as well. Definitely one for the history books.
You think the future will have books?
Far future will. Life on Earth tends to find a way.
homer_so_far.png
Eventually, if human civilization develops again.
All the religious books will be completely different and contain a lot of wacky stories describing the “now” times. All the science books will be the same.
I don’t think Earth has enough time for a whole new intelligent species to evolve though. In the amount of time it would take for our continents to subside back into Earth’s crust and new landmass to emerge so a new species will have access to surface minerals to build a new industrial age (without oil this time, so already challenging enough) we will probably be facing the end of the carbon cycle on Earth anyway and there will probably be almost no biosphere left. This will happen either way, so it’s not like this is some kind of environmental message, we just need to be aware that sure, Earth will go on, but we still very well might be “it” for not just Earth, but for all we know the whole universe.
without oil this time
What makes you think a completely independently evolved species wouldn’t make the same mistakes we did?
No, I’m saying there won’t BE any oil or coal, at least not easily accessible, most of what we use now comes from unimaginably deep in the crust using very advanced technology.
We needed fossil fuels to make the leap from iron-age tech to industry, another species or civilization MIGHT be able to do it without easy access to efficient fuel sources, but it would be a huge handicap.
Fossil fuels definitely turbo-charged our technological developement. Cheap portable energy and petrochemicals. Guaranteed to be addictive. And without then, or some other comparable miracle, it would have taken us many times longer to get where we are.
We are like someone who only ever played Civ with cheats and we’re going to find out soon how hard the game is without (and… because of) that magic black goo from the ground.
Meanwhile, genx:
Yeah kinda. We’ve gone through everything that the Millennials have plus some.
In my years, I’ve lost a home, two cars, four careers, buried 5 close family members including parents and a sibling. Been an alcoholic, recovered. Had severe depression. Recovered. Had Nearly lost my partner to illness and helped her learn to walk and eat again. Been so broke a few times that I was stealing water from construction sites so we could flush our toilet. Laid to rest a dozen beloved pets. Said goodbye more times than hello.
I’m back on my feet, starting over. Again. A little wiser, a little more battered and scarred up, a lot more tired. Missing a few teeth and all my hair, but still going.
The world right now is a massive mess, don’t get me wrong. We’re in real trouble. But at this point I don’t think anything short of an actual band of raiders with halberds chasing me down through the woods is going to end this ride for me. At this rate, might happen.
wait really? i don’t see how time could work that way
I used to roll my eyes when older people said that time keeps repeating, that everything happens over and over again.
Then I got old and started seeing everyone making the same damn mistakes over and over and over again, the same events recycling but with new actors, people not learning from the past, not working together, not writing things down so we don’t forget, and yeah, I DO get it now. The adult blackpill is a lot darker and more bitter than the one you swallow when you’re an irate teen who thinks the world owes you something. I would love to go back in time and have that energy again.
Nature doesnt owe us, humanity does. We havent come this far to cock it up now
You got to buy houses at a reasonable price and had proper student unions, don’t @ me.
I’m sure you think that’s true.
Pretty early to use “surviving” as a verb.
Throw gen z in there. We start at 1997
I’ve learned from being an adult through four crashes.
My portfolio has literally done better this month than any month in its history. 🤷
Edit: doubt or hate all you want lmao. Not here to argue.
Press X to doubt
I believe it.
The lesson I learned growing up in the 2008 crash, and hearing about the dotcom bubble, is “the finance guys will screw something up, they can’t help themselves.” Hence I have a small, long term short against the Russel 3000 in my portfolio to “counterbalance” random whole market nonsense. Not as extreme as OP, but I can totally see someone being cynical and shorting a lot at the start of the year.
Prior to inauguration day, I balanced my portfolio to favor bets against the s&p 500 (SQQQ, TSLZ, SPXS, …)
I kept enough of my exposure to the s&p 500 to not be an idiot here. Basically while the s&p went down $1, I went up about $1.25. and also the opposite.
Then, as my assumptions appeared correct, I starting making aggressive puts against DJT, RDDT, and many others. Employing a common bear market technique referred to as “shopping for lottery tickets.”
But whatever, haters gonna hate. :)
TSLZ
Heh, I wouldn’t have done this. I figured Musk would just prop up the stock from the White House, but I underestimated everything.
But whatever, haters gonna hate. :)
That’s how Lemmy be.
I suspect downvotes could be for simply being in the stock market, and coming out on top, not just doubt that you did. A kinda “you capitalist pig” sentiment. Which is understandable, but…
No doubt he (Elon) has (propped up the stock from the white house), and is. TSLZ has been a wild ride. But every time I consider getting off that roller coaster I just say “nah. Fuck him.” And let it ride. I only put $1000 in TSLZ and that’s like $2500 now I think. Idgaf if I lose all that; that’s now a principal investment :)
And yeah you probably right. But anybody who has a full time job and a 401k is out here mindlessly investing in TSLA through their 401k, I’m out here trying to take money out of Elons bank.
And to those that don’t have a full-time job and are, I guess for lack of a better word, otherwise envious…
I built my own stock portfolio on ~$20 a week out of a part time check from a brewery, starting in 2009. Y’all can do the same (well actually, we’ll see…). Vote with your dollar, etc.
Vote with your dollar, etc.
100%.
I’m in the Warren Buffet/sorta Motley Fool camp on small time, long term stock holding in a few companies you see doing good things, putting in bit by bit.
I sorta was this was, but COVID wrecked my gains because I failed to exit. This time I swore to myself I wouldn’t let it happen again.
lol ok not here to argue or prove anything.
Today’s not looking good because Donnie is giving a talk and DJT is getting another bounce, but if it sinks back below $15 before May, I’ll cash in another ~$10k.
The last three years have produced some of the most outrageously good returns in the market’s history. Like, throw your money in the S&P and get 25% ROI any-idiot-can-get-rich levels of good returns.
What the hell have you done with your portfolio that you missed all of it?
Maybe they’ve just put everything into those 5x short s&p500 ETFs
Not everything. But yeah, I used them to buffer damage my portfolio would have otherwise taken, and then made aggressive puts against highly volatile stocks like RDDT and DJT. Bought dumb sounding options for pennies, selling them for dollars.
I mean, if you were bearish in 2023 I couldn’t really blame you. But shorting is an expensive hobby.
Who said I missed it??
I’m doing exceptionally well this month.
We are in the “hard times create hard men” part of the cycle.
Hard non-binary persons, mind you!
And if they wear furry suits it’s because they’re harder! Wait…
Interestingly, in the era of this expression, “hard man” often had a somewhat negative connotation like “calloused,” which I gather is generally not the meaning intended by those who use it today.
