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If you are planning your life around putting money into assets tied to the imperial core e.g. housing and retirement how do you feel abt the entire financial system being a giant bubble (lemmy.ml)
submitted 1 year ago by [B] to c/asklemmy@lemmy.ml
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If you think this started with Silicon Valley that's a mistake

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[โ€“] 12 points 1 year ago (2 children)

If you live long enough, you've been through a number of bubbles. For me thats:

  • Black Monday (1987)
  • Dot com bubble (2000) which also bled into 9/11 economics impacts
  • Great Recession (2008)
  • COVID (2020)

The next bubble will just be another. Economy will slow, value of most assets will drop. Jobs will be lost, homes foreclosed on...and then the recovery will begin again. We'll look in the mirror shocked we survived it then in a few years we'll completely forget about it and be terrified of the next bubble.

So, prepare by living within you means, take care of yourself and your loved ones, and just be ready to weather the next storm. We'll get through that one too.

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  • [โ€“] 4 points 1 year ago

    Covid wasn't a "bubble".

    Or if it was, it was all the over investment in entertainment and productivity tools. In which case, that popped around 2023 when everything got cancelled and RTO layoffs started.

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