#greatrecession — Public Fediverse posts

After that, #Congress decided in bipartisan fashion that it had had enough of special counsels sniffing around the #ExecutiveBranch. Barack #Obama pledged to look forward & not backwards, not only closing the door on prosecutions for executive lawbreaking but also failing to hold accountable those responsible for the 2008 financial crisis & the ensuing #GreatRecession.

#US #law #accountability #power #plutocracy

Since 2009? Who remembers the #GreatRecession?

Tipping into #Trumpcession? Driven by tariffs, corrupt “deals” of self-enrichment, broligarch patronage, spiteful and delusional economic mismanagement?

Last month was the worst January for layoff plans since 2009
https://finance.yahoo.com/news/last-month-was-the-worst-january-for-layoff-plans-since-2009-challenger-131244531.html

@remixtures Worrisome indeed, but in an opposite sense to the financial pathology that led to the 2008 #GreatRecession. In that case, economic temblors were *hidden* by the corrupted bond rating system.

“Chemical Eye 👁️ on Bond Ratings” 👉 http://www.corpse.org/index.php?option=com_content&task=view&id=312&Itemid=57#Ratings

Don't worry, Millennials. Psychoanalyst Carl Jung said life really begins at the age of 40.

https://web.brid.gy/r/https://www.upworthy.com/carl-jung-shadow-work

Economics expert pinpoints the exact moment in 2012 when 'America went to hell'

https://web.brid.gy/r/https://www.upworthy.com/americas-2012-vibe-shift-ex1

#RefundDay, not #LiberationDay

https://www.youtube.com/watch?v=2vyjddkGHMc

https://piped.video/watch?v=2vyjddkGHMc

https://inv.nadeko.net/watch?v=2vyjddkGHMc

#uspol #politics #TrumpTariffs #TradeWar2025 #TradeWar #LiberationDay #GreatDepression #GreatRecession #HumiliationDay #Trump #DonaldTrump #TrumpAdministration #TrumpAdministration #SecondTrumpAdministration #Project2025 #MAGA #InternationalTradeConflict #TWEA #IEEPA

https://www.salon.com/2025/05/28/liberation-day-is-cancelled-global-tariffs-ruled-illegal/

#uspol #politics #TrumpTariffs #TradeWar2025 #TradeWar #LiberationDay #GreatDepression #GreatRecession #LiquidationDay #Trump #DonaldTrump #TrumpAdministration #TrumpAdministration #SecondTrumpAdministration #Project2025 #MAGA #InternationalTradeConflict #TWEA #IEEPA

🚨Trump TARIFFS declared UNLAWFUL by Court!!!

https://www.youtube.com/watch?v=tTIH5iIjnu8

https://piped.video/watch?v=tTIH5iIjnu8

https://inv.nadeko.net/watch?v=tTIH5iIjnu8

#uspol #politics #TrumpTariffs #TradeWar2025 #TradeWar #LiberationDay #GreatDepression #GreatRecession #LiquidationDay #Trump #DonaldTrump #TrumpAdministration #TrumpAdministration #SecondTrumpAdministration #Project2025 #MAGA #InternationalTradeConflict #TWEA #IEEPA

Preliminary Estimates of #Macroeconomic Costs of Cutting Federal Funding for #Science
• Budget cuts to public R&D would significantly hurt #economy in the long run
• A 25% cut to public R&D spending would reduce #GDP by approximately 3.8%
in long run. This effect is comparable to the decline in GDP during the #GreatRecession
• Cutting annual public R&D spending in half would decrease GDP by approximately 7.6%, making the average #American approximately $10,000 poorer
https://aura.american.edu/articles/report/Preliminary_Estimates_of_the_Macroeconomic_Costs_of_Cutting_Federal_Funding_for_Scientific_Research/28746446?file=53480237

Preliminary Estimates of #Macroeconomic Costs of Cutting Federal Funding for #Science
• Budget cuts to public R&D would significantly hurt #economy in the long run
• A 25% cut to public R&D spending would reduce #GDP by approximately 3.8%
in long run. This effect is comparable to the decline in GDP during the #GreatRecession
• Cutting annual public R&D spending in half would decrease GDP by approximately 7.6%, making the average #American approximately $10,000 poorer
https://aura.american.edu/articles/report/Preliminary_Estimates_of_the_Macroeconomic_Costs_of_Cutting_Federal_Funding_for_Scientific_Research/28746446?file=53480237

Preliminary Estimates of #Macroeconomic Costs of Cutting Federal Funding for #Science
• Budget cuts to public R&D would significantly hurt #economy in the long run
• A 25% cut to public R&D spending would reduce #GDP by approximately 3.8%
in long run. This effect is comparable to the decline in GDP during the #GreatRecession
• Cutting annual public R&D spending in half would decrease GDP by approximately 7.6%, making the average #American approximately $10,000 poorer
https://aura.american.edu/articles/report/Preliminary_Estimates_of_the_Macroeconomic_Costs_of_Cutting_Federal_Funding_for_Scientific_Research/28746446?file=53480237

Preliminary Estimates of #Macroeconomic Costs of Cutting Federal Funding for #Science
• Budget cuts to public R&D would significantly hurt #economy in the long run
• A 25% cut to public R&D spending would reduce #GDP by approximately 3.8%
in long run. This effect is comparable to the decline in GDP during the #GreatRecession
• Cutting annual public R&D spending in half would decrease GDP by approximately 7.6%, making the average #American approximately $10,000 poorer
https://aura.american.edu/articles/report/Preliminary_Estimates_of_the_Macroeconomic_Costs_of_Cutting_Federal_Funding_for_Scientific_Research/28746446?file=53480237

Preliminary Estimates of #Macroeconomic Costs of Cutting Federal Funding for #Science
• Budget cuts to public R&D would significantly hurt #economy in the long run
• A 25% cut to public R&D spending would reduce #GDP by approximately 3.8%
in long run. This effect is comparable to the decline in GDP during the #GreatRecession
• Cutting annual public R&D spending in half would decrease GDP by approximately 7.6%, making the average #American approximately $10,000 poorer
https://aura.american.edu/articles/report/Preliminary_Estimates_of_the_Macroeconomic_Costs_of_Cutting_Federal_Funding_for_Scientific_Research/28746446?file=53480237

Even the mildest approach — a 25% reduction in public support for #research & #development — would correlate to a drop in economic output.

#US #GDP, adjusted for #inflation, would be 3.8% smaller in the long term — a decline similar in magnitude to that in the #GreatRecession, which ended in 2009. The drop in output would be much more gradual than that downturn, taking place over years rather than months. But it would also be more lasting.

#economy #science #innovation #idiocracy #Trump

Nearly 90% of Consumer Financial Protection Bureau cut as Trump's government downsizing continues
President Donald Trump is drastically shrinking the workforce and mission of the #CFPB, eviscerating an agency created after the #GreatRecession with the goal of protecting Americans from fraud, abuse and deceptive practices.
https://apnews.com/article/donald-trump-doge-cfpb-elon-musk-456b747c367fccbcf3b74d2893cd1a35

So I hear talk of black swan events and the 1987 market crash comes up? It was a correction. Sorry. #greatrecession and #covid were real. I was young in 1987, worked with elders (a senior living apartment place) and they were actually reliving 1929 with TRAUMA, not so much because they were there more than kids in 1929, but more that they lived a *dramatic* history marked by that event. IT WAS HEAVY! We are in the FO phase of another now, that much is clear. #blackswan #trump #tariffs #tradewar

Hold on to your desk

#Americans haven't been this worried about their #jobs since the #GreatRecession.

https://www.businessinsider.com/americans-worried-unemployment-layoffs-recession-jobs-hiring-2025-3

The #JobMarket Is Frozen
#Unemployment is low, but workers aren’t quitting and businesses aren’t #hiring. What’s going on?
The answer is that two seemingly incompatible things are happening in the #job market at the same time. Even as the unemployment rate has hovered around 4 percent for more than three years, the pace of hiring has slowed to levels last seen shortly after the #GreatRecession, when the unemployment rate was nearly twice as high.
https://www.theatlantic.com/ideas/archive/2025/02/jobs-unemployment-big-freeze/681831/
https://archive.ph/Nx8G8

a bro from the largest american crypto VC firm #a16z is going to be running the #CFTC which in turn will be the agency "regulating" crypto now that the #SEC (also now run by crypto bros) has decided cryptocurrency is not a "security" (like a share of stock or a bond) but instead a "commodity" (like corn or pork bellies). which makes sense, as long as you don't think about it.

fun fact: the CFTC was the agency that regulated (and still regulates) financial derivatives and is more or less directly responsible for 2008's Great Financial Crisis and the Great Recession.

https://www.coindesk.com/policy/2025/02/11/trump-taps-former-cftc-commissioner-a16z-policy-head-brian-quintenz-for-cftc-head

#MarcAndreessen #BenHorowitz #MAGA #VCs #NerdReich #uspol #GreatFinancialCrisis #GreatRecession #DOGE #Trump #BrianQuintenz #corruption #fraud #finreg #stockmarket #economics #finance

@RealJournalism the #gramm-Leach-Bliley act of 1999 effectively repealed the Glass-Steagall act of 1933 (passed during the #GreatDepression ) that separated commercial from investment banking.

That was one of the major contributors to the #GreatRecession of 2008.

… so we have a hint of what the consequences will be when #trump gets all of the regulation that was intended to stop any repeat of the Great Depression

Eventually, the world will face another recession. How will policymakers use the lessons learned from the 2008-09 financial crisis and COVID-19 pandemic to respond? https://www.japantimes.co.jp/commentary/2024/07/08/world/policy-lessons-economic-crises/ #commentary #worldnews #us #useconomy #greatrecession #globaleconomy #federalreserve #fiscalspending #inflation #jobs

We all know the #TooBigToFail concept from the #GreatRecession - well #Trump has me feeling like there might be such thing as #TooRichToPay where rich can be more of a class than a bank balance

'The average UK citizen is £10,200 poorer than they were as a result of the "Great Recession", says a new report by the Centre for Cities.'

https://www.euronews.com/business/2024/01/23/a-torrid-time-for-uk-regions-as-they-level-down-not-up

Andrew Carter, Chief Executive of the Centre for Cities: '"Everywhere, up and down the country, including places that were doing relatively well before, has been levelled down because of the lack of growth."'

#UK #economy #recession #growth #productivity #GreatRecession

End Wealth Supremacy https://otherwords.org/end-wealth-supremacy/

This anniversary is an opportunity to take a step back and look at the overarching problem here: “financialization.” While we used to have an economy that manufactured stuff, now it manufactures debt.

#GreatRecession #Financialization #Economy

After 1996 Welfare Reform: Women were more likely to have their first birth precede their first stable employment, facing a higher risk of single motherhood and lack of both earned income and public cash benefits. For 1 in 4 US single mothers without stable jobs before their first birth: Great Recession job declines linked to having no earned income or public cash benefits.

https://www.ncbi.nlm.nih.gov/pubmed/31057320

#NICHDImpact #Poverty #Mothers #Economics #Welfare #GreatRecession

Yesterday I increased my (#roth) #401K contribution to 22% of my paycheck. It was 21% before. I have also put $200/month into a (roth) #IRA for years now. I am still behind in savings to be able to #retire reasonably.

There's a narrow generational slice of #Millennials who were so fucked by "the #GreatRecession" that we will pay for it (literally) until we die. Keep us in mind with your hot takes, I guess is all I ask.

In the way-back days of my other life, I had a garden retail shop that opened in 2001. The Great Recession brought that to a crashing conclusion, so I had to re-invent myself and start over, focusing just on garden design and installation. But here's my storefront at Easter, circa 2008 just before the bottom fell out.

#GoodTimes #Easter #Retail #SelfEmployed #Garden #BusinessOwner #Rabbits #Decorating #StartingOver #GardenDesign #GardenShop #GreatRecession

Rising deaths from suicide, and drug and alcohol abuse for both Black and white Americans are overwhelmingly driven by increases in drug-related deaths since the late 1990s. Deaths related to alcohol abuse and suicide among both White and black Americans changed during the Great Recession, despite some racial differences across age groups.

https://www.ncbi.nlm.nih.gov/pubmed/33778856

#NICHDImpact #DeathsofDespair #Suicide #Mortality #SubstanceAbuse #RacialDisparities #GreatRecession @AndreaTilstra

Silicon Valley Bank Fails After Run by Venture Capital Customers -
FDIC took control of the bank’s assets on Friday. The failure raised concerns that other banks could face problems, too. https://www.nytimes.com/2023/03/10/business/silicon-valley-bank-stock.html So not in the mood for another #greatrecession #toobigtofail

The Fed Codifies Fourth Consecutive 75bps Rate Hike — Stocks, Bitcoin, and Metals Rise

https://news.bitcoin.com/the-fed-codifies-fourth-consecutive-75bps-rate-hike-stocks-bitcoin-and-metals-rise/

#FedChairJeromePowell #interestratehikes #Fedpolicymakers #GreatDepression #GreatRecession #Cryptomarkets #interestrate #CentralBank #Economics #economics #inflation #Recession #BankRate #dowjones #RateHike #Crypto #nasdaq #S&P500 #silver #FOMC #gold #NYSE #FFR