295 sats \ 4 replies \ @nerd2ninja 13 Jun 2022 \ on: Where do we go from here? bitcoin
Basically, its gonna suck.
Most people aren't aware of this, but what they did to "fix" the 2008 financial crisis, was an ongoing thing. Quantitative easing (the federal reserve buying bad debt to add to their balance sheet) never stopped after 2008. They tried to bring it back around 2018, but January 2019, the stock market saw that huge 30% crash so they had to bring the punch bowl back out.
That's why I knew this time would be worse. They didn't have "the thing that 'fixed' 2008" in their toolbox because it was actively in use the entire time. So every risk of a recession we see, the fed has to do double what they did before to "fix" it.
Where do we go from here? As Bitcoiners, in bear markets we build. Hopefully what we build is a lifeboat that stays afloat during the hardship.
Congratulations from the future!
As of 6/14/2024, this was the top comment of 6/14/2022.
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Basically, it's gonna suck.
If the economy is going through a dark tunnel of pain right now, how far away is the light on the other side? Are we halfway there yet?
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I dont have the source on-hand, but generally it takes ~2+ years to fully recover from a recession
Recessions are also backwards looking. You wont fully know you're in a recession until you have consistent GDP degradation (which is a lagging indicator).
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This will be nothing like the recessions in years past... It may be too painful to even call a Despression...
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