Re:Ask HN: Folks who were around the 2008 Recession
by marginalia_nu on Wednesday August 10, 2022 @08:23PM
(#32420121)
Coincidentally, I learned yesterday my girlfriend's main source of income after graduation was daytrading IT stocks (with no prior education or experience), line went up and she made enough profit to live off for a brief period. This was just before the dotcom bust.
Re:Ask HN: Folks who were around the 2008 Recession
by hammyhavoc on Thursday August 11, 2022 @01:32PM
(#32429147)
Did it end well for her?
Prior to that time, just before the turn of the century, I was working on an expert system middle tier for a bank (y2k) while half the workers around me were spending weekends bundling some kind of financial instrument which combined risky loans with good ones; the bank was hustling those. Little did I realize then that this was what was fueling the real estate boom which I encountered a few years later. Also did not see, at that time, just how that game would bring down the economy.
So...look around. Anything like that going on now (well, in the previous few years)?
Remember "too big to fail". Anything like that now? I think that the fed chair back then spoke of "irrational exuberance".