Poll of the Day > Y'all ready for a repeat of 2008?

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papercup
03/12/23 11:56:34 PM
#1:


Lets just meltdown the financial sector every 15 years, whats the worst that could happen?


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EclairReturns
03/12/23 11:57:48 PM
#2:


Are you trying to imply that we are due for another economic recession?

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papercup
03/13/23 12:04:35 AM
#3:


EclairReturns posted...
Are you trying to imply that we are due for another economic recession?
Banks are failing left and right. FDIC is preemptively taking over Signature bank before they open tomorrow.

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KJ_StErOiDs
03/13/23 12:06:45 AM
#4:


As much as I'm going to be. I'm not going to prepare for one scenario or another, or worry about it for that matter.

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joemodda
03/13/23 12:07:02 AM
#5:


Oof, tech sector (especially Silicon Valley) is definitely going through a dark age

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CarefreeDude
03/13/23 12:13:48 AM
#6:


I wouldn't be surprised if there is another economic recession soon, but I don't think this is it yet.

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Ozmose
03/13/23 1:47:41 AM
#7:


I think comparing what's coming to 2008 is awfully optimistic.

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ParanoidObsessive
03/13/23 1:52:41 AM
#8:


papercup posted...
Y'all ready for...

https://youtu.be/iPOmFUid3vA?t=15

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faramir77
03/13/23 1:59:56 AM
#9:


I'm not even remotely overextended on my mortgage and my job is at very low risk of disappearing in a recession. So yeah, I'd be ready for it.

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Zareth
03/13/23 2:00:49 AM
#10:


Get some crabs. Crabs is recession-proof. People gotta eat.

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Ozmose
03/13/23 2:22:29 AM
#11:


faramir77 posted...
I'm not even remotely overextended on my mortgage and my job is at very low risk of disappearing in a recession. So yeah, I'd be ready for it.
Where a lot of people got hit last time was their 401k. I know a guy that lost 2/3 of his retirement fund in the last crash. I don't think a lot of people realize how much their money is used to gamble with by the banks and other various financial institutions. People put their money in the bank and think it just sits there. When in reality they're using it to buy bonds, and with the yield curve inverted they can't maintain liquidity. It's basically a Ponzi scheme. All your money is tied up in other peoples failing investments.

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SoreChasm
03/13/23 5:13:30 AM
#12:


What if instead of games Delta was really into collecting crabs and he was constantly sending crabs to other PotDers what kind of crab would you want Delta to send u?

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Judgmenl
03/13/23 5:15:26 AM
#13:


More hysterical reactionism.

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shadowsword87
03/13/23 5:15:37 AM
#14:


Ozmose posted...
Where a lot of people got hit last time was their 401k. I know a guy that lost 2/3 of his retirement fund in the last crash. I don't think a lot of people realize how much their money is used to gamble with by the banks and other various financial institutions. People put their money in the bank and think it just sits there. When in reality they're using it to buy bonds, and with the yield curve inverted they can't maintain liquidity. It's basically a Ponzi scheme. All your money is tied up in other peoples failing investments.

Which is insured up to 250k by the federal government.

Also, bonds have a return rate of 4%. If they're slapping it into bonds they're being idiots.
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Clench281
03/13/23 5:22:13 AM
#15:


I'd love to see the death of the 30 year fixed rate mortgage

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ParanoidObsessive
03/13/23 7:55:09 AM
#16:


SoreChasm posted...
What if instead of games Delta was really into collecting crabs and he was constantly sending crabs to other PotDers what kind of crab would you want Delta to send u?

I'd want one of these:

https://en.wikipedia.org/wiki/Crab_Nebula


I could probably send him back some of these in exchange:

https://en.wikipedia.org/wiki/Horseshoe_crab


But hopefully he doesn't give me any of these:

https://en.wikipedia.org/wiki/Crab_louse

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faramir77
03/13/23 9:21:14 AM
#17:


Clench281 posted...
I'd love to see the death of the 30 year fixed rate mortgage

Lol, why? In Canada you have to renew your mortgage every 5 years. Unless interest rates drop, Canada will see one of the biggest housing crises in first world history in about 3 years when all the under 2% interest rate mortgages come due for renewal at 6% or more, which increases the monthly payment by about 50%.

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Red_Haze
03/13/23 9:45:35 AM
#18:


Zareth posted...
Get some crabs. Crabs is recession-proof. People gotta eat.
What if you have a shellfish allergy?

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hockey7318
03/13/23 10:02:37 AM
#19:


Clench281 posted...
I'd love to see the death of the 30 year fixed rate mortgage
Yeah, I'm not sure I understand why I'd want adjustable at this point...
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BlackScythe0
03/13/23 10:20:39 AM
#20:


https://www.youtube.com/watch?v=pVDbToV8n50
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RCtheWSBC
03/13/23 10:51:45 AM
#21:


Ozmose posted...
Where a lot of people got hit last time was their 401k. I know a guy that lost 2/3 of his retirement fund in the last crash. I don't think a lot of people realize how much their money is used to gamble with by the banks and other various financial institutions.
It's not like I'm planning to retire in the next 5-10 years so \_()_/

The loss becomes realized once you withdraw the funds, so I'll just keep contributing to my retirement accounts and not look at the line go down

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FatalAccident
03/13/23 1:13:07 PM
#22:


These are commercial banks lending to specific businesses and not conventional banks holding yours and my money. Yeah theres implications further down the line for employees here but its a bit alarmist to compare this to 2008

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SoreChasm
03/13/23 1:58:49 PM
#23:


ParanoidObsessive posted...
I'd want one of these:

https://en.wikipedia.org/wiki/Crab_Nebula

I could probably send him back some of these in exchange:

https://en.wikipedia.org/wiki/Horseshoe_crab

But hopefully he doesn't give me any of these:

https://en.wikipedia.org/wiki/Crab_louse
I appreciate your honesty, PO

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teddy241
03/13/23 2:17:16 PM
#24:


ParanoidObsessive posted...
https://youtu.be/iPOmFUid3vA?t=15
Thank god someone won the topic
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Jen0125
03/13/23 2:23:46 PM
#25:


hockey7318 posted...
Yeah, I'm not sure I understand why I'd want adjustable at this point...

He believes we shouldn't have single family homes. That's why he said that.
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