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General 2008 Cra$h - TME

Discussion in 'The Off-topic Lounge' started by Enock-O-Lypse Now!, Dec 6, 2017.

  1. Enock-O-Lypse Now!

    Enock-O-Lypse Now! Underneath Denver International Airport

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    How were you effected?
    How have you recovered?
    Are you prepared for another such crash?

    Discuss.




    The Bank for International Settlements (BIS) known as the central bankers’ bank, said the situation in the global economy was similar to the pre-2008 crash era when investors, seeking high returns, borrowed heavily to invest in risky assets, despite moves by central banks to tighten access to credit.


     
  2. Enock-O-Lypse Now!

    Enock-O-Lypse Now! Underneath Denver International Airport

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  3. Kevin Wendell Crumb

    Kevin Wendell Crumb Only the broken are the truly evolved
    First 100

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    I am unaffected by anything.
    My willpower and determination are mind-blowing.
    This excludes Grand Prix's of course, and I thank God they didn't exist before the ridiculously overpowered and nuclear-immune white rhinoceros.
     
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  4. Priziesthorse

    Priziesthorse Moderator
    Moderator First 100

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    I still haven't recovered from my boy Paul Thomas Anderson getting robbed of the Best Director award at the 2008 Oscars.
     
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  5. Enock-O-Lypse Now!

    Enock-O-Lypse Now! Underneath Denver International Airport

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    401k took a hit like most Americans -- many employers recommend their employees crank up their 401k's especially if the employer matches.

    I'm not so confident in that approach, especially with a greater crash than 2008 on the horizon ..2019?

    2008 crash destroyed my 401k - then I got laid off with about 500 others in the company.

    Cashed out the 401k invested heavy in Palladium -- sitting good right now.

    Precious metals is a fun game to play but its not to be played day by day ..its a game of patience and precision.
     
  6. Robbie Hart

    Robbie Hart This is the business we’ve chosen

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    It will happen again......diversify
     
  7. silentsinger

    silentsinger We didn't burn him.

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    Enock...

    We need to talk about these outbursts. Is the dump over't other place denied now?
     
  8. Hauler

    Hauler Unknown Member

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    I was in the construction field. I had to lay off about 30 guys over a period of roughly 9 months. On the last day I was told to cut 3 more guys and I was sick about it, not only because they were great workers with families and bills, but also because I had no idea how I was going to get done what little we still had to do with so few people. I didn't have to worry long because after I cut the last guy, I got called in by the big boss man and got laid off myself. Fucking asshole made me do the dirty work then axed me. Fuck em - the whole place closed down 3 months later.

    Half my 401k was wiped clean and has only just recently gotten back to the level it was at when it crashed.

    I refused to go on unemployment because I'm stubborn so I started taking odd handyman jobs from people. I barely made enough to pay my bills - probably would have made more on unemployment to be honest.

    After about 2 months of that I got a call from an upstart company in the field I was in and they needed someone with my skillsets. Took the job - making about half of what I was annually prior to being laid off. I was able to afford the cut though because I live way - WAY - below my means. Always have.

    I've worked my way back up with several promotions, and financially I'm above where I was before in a better situation with a better company and better people.

    But that doesn't mean it won't all happen again.
     
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  9. Enock-O-Lypse Now!

    Enock-O-Lypse Now! Underneath Denver International Airport

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    [​IMG]
     
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  10. Enock-O-Lypse Now!

    Enock-O-Lypse Now! Underneath Denver International Airport

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    Thanks for the post Hauler, that's dirty what they made you do with the layoffs only to eventually get cut loose as well..I've saw similar things in other fields during that time as well...gave me a new perspective on how employers really feel about their employees when it gets down to crunch time.

    Again, great post..I'll come back later to touch up on it
     
  11. HEATH VON DOOM

    HEATH VON DOOM ENOCH = TROOF

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    Other than a slow down at work it didnt affect me much. I keep as little as possible in the banks and only invest what I can afford to lose. I also thought the stock market, much like it is now, was unsustainable so I moved most of my money from mutual funds to money markets so I took a initial hit but more than made up for that by what I didnt lose outright. I bought a house for a sweet price in 2010.

    People are more than willing to trust people they barely know with their money. I would rather have cash on hand than a bunch of risky investments that could fail at any moment.
     
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  12. IGotAHugePeckah

    IGotAHugePeckah Sick Fukkkin Puppy

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    When the American dollar dropped I started buy a lot of shit online from American vendors.
     
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  13. Belobog

    Belobog First 100
    First 100

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    Before all recent recessions the difference between a 10 year and 2 year treasury constant maturity has gone negative. It is currently on a downward slope approaching zero. Shaded areas in the graph are recession periods.

    [​IMG]
     
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  14. peter_weyland

    peter_weyland TMMAC - Executive Vice President, Ass

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    As I mentioned in another thread, the only time in my life I've been laid off. Worked for a marketing firm in SF at the end of Montgomery Street. We dealt mostly with financial institutions, and in the spring I started noticing more and more bankers carrying boxes of their shit to the train at the end of the day. I got it in July and it didn't come as a surprise at all. I had started ramping up freelance projects, so when I actually was let go, I had enough work to keep my busy, and I collected UE. Was out for 6 months, and then got another full-time job.

    What it taught me was work is feast or famine, and when it's feast you have to capitalize, because a famine could be right around the corner. So now, I always have a plan B, and usually a plan C too.
     
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  15. Wild

    Wild TMMAC's most handsome Admin
    Admin

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    Some scary shit right there.
     
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  16. mysticmac

    mysticmac First 1025

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    I kept buying the same stuff, but for a lower price.
     
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