[P_I_Staker]

This is a classic, desperate hope that people have going into a recession. "This time could be different". We've been waiting a long time for this one. It's not just about COVID, otherwise why would it happen as things get better.

Many of these businesses being hit were long overdue for a fall and behaving highly irrationally. This borders on the severity of the .com bust, though it does appear to be less severe.

How do we know it won't be worse either? We could be heading into a downturn and turmoil to rival the great depression.

[idopmstuff]

> This borders on the severity of the .com bust, though it does appear to be less severe.

I don't think this is remotely true - the .com bust killed off a huge number of companies (and an enormous amount of market cap) that weren't profitable and had no real path to profitability. This time we're talking about layoffs at companies like Meta and Amazon that are just throwing off money every quarter.

[pyuser583]

I have a pretty good memory three recessions.

All had massive amounts of domesday comparisons to the Great Depression.

None came close.

Irrationally businesses being hit hard is a normal part of the economic cycle.

The big question is “is this recession going to reveal some hideous flaw in our financial system we didn’t know about and couldn’t plan for.”

So far the answer is “no” - just like the dot com burst, and unlike the Great Recession and the bond crisis of the early 90s.