[dragonwriter]

> For people who lived through 2007-2008 do you think the current times feel similar to how the last financial crisis unfolded?

Not even slightly. Largely, because it wasn’t preceded by anything like the hollow post-2001 expansion, which, despite being an expansion (the period of aggregate growth between recessions), saw the upper income limit of the four lowest quintiles, and the low limit of the top 5%, all decline in real terms, with all of the gains concentrated in a very narrow segment at the top. It took the top of the bottom quintile until 2018 to bounce back to the 2001 level, for the second quintile that was 2016, for the third 2015, for the fourth quintile and the bottom end of the top 5%, 2013. For most of society, despite the gains at the top between recessions, the crisis was really 2001-2009, not just the “Great Recession” years of 2007-2009.