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streetman @lemmy.world

1w ago

Millennials surviving their 4th 'once in a lifetime' crash

85 comments

I expect more to come before this term is over

Kinda sucks having a generation of spoiled narcissists in charge tbh.
- You forgot "lead-addled"
  
  Some of them could use more lead imo.
- Three generations of spoiled narcissists coasting on what the Greatest and Lost built.

Can we take a break from daily historic events a little bit?
- So now we're on to "decades where centuries happen." :/
- Sorry, you are cursed to live in interesting times.
  
  If only these times were actually interesting and not just a pile of stupid bullshit.
- Best I can do is a once in a centuries empire collapse.

Remember the 80s recession? GenX remembers.
- That was a bit before my time but i remember some people saying the 2002 crash was in part an extension of the 80s recession as the 90s boom was partially due to the tech boom.
- You’re right — the early 80’s ugh. 15% inflation with a gas crisis. 10-15 year panics were the norm in the 1800’s too
  
  Mortgage rates skyrocketed, people lost their homes.
- Millenials born in late 80s or early 90s may not remember but it could still have affected their childhood.
  
  Also, it could not have. "Could" anything is pretty vague. Every childhood had a preceding history.
- This cycle of republicans wrecking the world, then democrats quietly, meekly fixing the mess after like a battered wife, it goes way back.
  
  Sounds so banal.
- Who?
  
  Which Who?
  
  What?
- Those sucked.
  
  Devestated my childhood

4th "once in a lifetime" crash, SO FAR...

more like
- Like two three years ago when they told us there might be a nuclear escalation.
  Millennials: eh shrug maybe not

You should expect about one recession every 5-10 years.
They are all "once in a lifetime" in their own way if you want to sell news headlines.
- The covid one is really the only one that really stands out as being a unique naturally caused crash, but what makes it most unique isn't the market stuff at all.
  This one has been just waiting to happen for a while, but this one being intentionally caused is fairly unique, I guess.
  The size of the dotcom + great recession combined is fairly unique, making immediately before the dotcom bust one of the worst times you could have retired in the US since at least the great depression. But that doesn't affect millennials directly and it's the affect of two back to make crashes.
  
  Yeah, the Trump Recession (we hope not a full-blown depression) will have been uniquely caused as well. Definitely one for the history books.

Meanwhile, genx:
- Yeah kinda. We've gone through everything that the Millennials have plus some.
  
  In my years, I've lost a home, two cars, four careers, buried 5 close family members including parents and a sibling. Been an alcoholic, recovered. Had severe depression. Recovered. Had Nearly lost my partner to illness and helped her learn to walk and eat again. Been so broke a few times that I was stealing water from construction sites so we could flush our toilet. Laid to rest a dozen beloved pets. Said goodbye more times than hello.
  I'm back on my feet, starting over. Again. A little wiser, a little more battered and scarred up, a lot more tired. Missing a few teeth and all my hair, but still going.
  The world right now is a massive mess, don't get me wrong. We're in real trouble. But at this point I don't think anything short of an actual band of raiders with halberds chasing me down through the woods is going to end this ride for me. At this rate, might happen.
  
  wait really? i don't see how time could work that way
- You got to buy houses at a reasonable price and had proper student unions, don't @ me.
  
  I'm sure you think that's true.

Throw gen z in there. We start at 1997

When I was a teen, I said life was too boring and maybe someone should start a war or something to spice things up.
Fast-forward to:
russian invasion of Ukraine
Hamas-led Attack on Israeli Civillians and subsequent Israel-led Genocide in Gaza
Coup Attempt in South Korea
Transition to fascism in the USA
Trade wars against the entire world
I DID NOT MEAN THIS 💀

Pretty early to use "surviving" as a verb.

I’m gonna get fired for being room temperature one day.

I wonder if it was intentional in the original…

We are in the "hard times create hard men" part of the cycle.
- Hard non-binary persons, mind you!
  And if they wear furry suits it’s because they’re harder! Wait…
- Interestingly, in the era of this expression, “hard man” often had a somewhat negative connotation like “calloused,” which I gather is generally not the meaning intended by those who use it today.

I contemplate the moment in the market, the idea of allowing your own crucifixion.

ITS ENOUGH SLICES

I've learned from being an adult through four crashes.
My portfolio has literally done better this month than any month in its history. 🤷
Edit: doubt or hate all you want lmao. Not here to argue.
- Press X to doubt
  
  I believe it.
  The lesson I learned growing up in the 2008 crash, and hearing about the dotcom bubble, is “the finance guys will screw something up, they can’t help themselves.” Hence I have a small, long term short against the Russel 3000 in my portfolio to “counterbalance” random whole market nonsense. Not as extreme as OP, but I can totally see someone being cynical and shorting a lot at the start of the year.
  
  lol ok not here to argue or prove anything.
  Today's not looking good because Donnie is giving a talk and DJT is getting another bounce, but if it sinks back below $15 before May, I'll cash in another ~$10k.
- The last three years have produced some of the most outrageously good returns in the market's history. Like, throw your money in the S&P and get 25% ROI any-idiot-can-get-rich levels of good returns.
  What the hell have you done with your portfolio that you missed all of it?
  
  Maybe they've just put everything into those 5x short s&p500 ETFs
  
  Who said I missed it??
  I'm doing exceptionally well this month.

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