[TecoAndJix]

Compared to 2001 & 2008, the 2020 recession was a blip on the radar. I graduated high school in 2009. My entire adult life to this point has been in a prosperous economy. COVID felt "different" (it was a pandemic, 100 year event kind of thing) to now. These layoffs have me worried for my family and what it could mean for our future.

[lamontcg]

It really is amusing to see how much HN thinks that times are tough right now and the talk of the current economic conditions as a recession. It seems like the majority of HN weren't graduated from college in 2008 yet or else they've somehow managed to forget what that was like or just weren't paying enough attention. And the ones that just found it hard to get a job out of college probably weren't watching the stock market closely and don't seem to remember how bad things got after the Bush administration let Lehman collapse and when we nearly "broke the buck" and Congress had to act to prevent a total financial collapse. We have 3.5% unemployment right now, not 6% and rising 0.4% every month.

At the same time nobody seems to be paying attention to how rapidly the Fed raised rates this time compared to the build-up to 2006-2008, and while everyone talks about low rates for over a decade caused malinvestment nobody seems to be doing the very obvious math of what is going to happen when higher rates destroy it all.

[onlyrealcuzzo]

2009 was not a prosperous economy. The economy was quite bad until late 2011.

You started off your adult life in a pretty bad recession.

Maybe college insulated you from that.

2020 was shorter than 2001 - but MUCH worse. 2001 wasn't very bad unless you worked in tech in The Bay or invested your life savings in Internet meme stocks.