Quote:
Originally Posted by redpoint5
My estimation is that this is nearly guaranteed to be much worse than 2008. GDP was down 3% from that "meltdown". We're somewhere around 20% down currently, and we're far from the worst of this disease.
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This. 2008 was a financial crisis, not an economic crisis. Once the system was propped up by government loans, things approximately went back to normal, minus the economic disruption from various companies going bankrupt.
This time it's an economic slowdown, and there happens to be the debt bubble built up from 2008 that's popping.