Was just watching the big short. Why do the times suddenly feel similar?

[molsewid]

Honestly people tend to easily forget bad/scary/uncertain times when it comes to the economy as well as the stock market.  This is something I speak about with my customers all of the time as an FA.  I'm constantly hearing "I hear the economy is going to crash", and I've been hearing this every since I got in finance back in the early 2000's.

It's rare where we don't have this sort of "economic unease", so honestly I see today and these times no different that 10 years ago or 10 years ago before that.  Simply prepare for the worst, hope for the best.

Its a cycle and we are about to repeat that history so I agree, better to be more ready.
There’s no safe market for this possible crash and for sure even crypto will feel it, but that’s ok you don’t need to panic and you just need to plan ahead, be more liquid and choose a safer investment like having a rental assets that can be your money machine, crypto market should not your only option when it comes to investing.

I agree, I can say that if anyone has an extra money better to diversify his asset. Even though I started trading crypto in about years from even before pandemic happens I am diversifying my asset if I have an extra money from my salary of whenever I got a little extra in my earnings here in bitcointalk I am making sure that I am not putting all my eggs in one basket. It is better to be safe, it is volatile we need to be ready and make research more if we are going to buy more or just stay calm at the moment.

[alastantiger]

We understand the way the economy situations could sometimes be terribly bad and work against our luck, yet we need to keep moving and remain focused because they may be as distractions against our aspiring future plan to make it back in life, such occurences shouldn't be what may detached us from pressing further in making our goals come through, alot of businesses and enterprise had in the  past suffered lost due to many reasons beyond thy could bear and yet they never look down on the economy prospect the future presents for them, in this, it can be an attempt for a second chance to make recovery and such could be through our embrace on bitcoin in cryptocurrency.

The unbearable fact is that most people have already given up on the market . Property experts are already predicting that what is coming is going to be worse than 2008. But instead of talking about the gloom and doom that is coming, We should be preparing for it and see it as the moment to seize the opportunities that the market is going to present.  To be well positioned for it, we nee to have a significant margin of safety when buying real estate and secondly, focus on properties in need of significant repairs or renovations, they are often overlooked by other buyers. Don't be downcast by what is coming, see it as an opportunity instead.

[Webetcoins]

Aren't we living through one? I mean, unemployment is on the rise in most part of the world, food prices are unreachably high, inflation doesn't stop goin up, bills and groceries are eating up most of what we earn leaving no room for savings or an emergency fund, and on top of everything, Bitcoin is not as valuable as it should be, so basically, we are living through a crisis right now and it will probably take some more time to normalize and hopefully we can see that happening.

I don't know if you know this or not but there are places in the world where people don't have anything to eat nor do they have any money or job or anything. A normal world wouldn't make things that difficult for any human, so we are actually within a crisis, it's just that it's not that huge that is why we who are doing pretty well are not realizing it that much.

[jaberwock]

I completely resonate with your sentiments. Having experienced the 2008 crash firsthand, it's hard not to draw parallels with the current state of affairs. It's a reminder of why I believe in Bitcoin. Some might not fully grasp it, but our past experiences give us a unique perspective. I mentioned to a friend recently that something significant seems to be brewing. Let's stay vigilant, and as always, keep an eye on our financials. Accumulating Bitcoin might just be the safeguard we need.

Ah so you guys are like having a trauma. Maybe you need to seek for a professional first before venturing another investment (even bitcoin). In fact, Bitcoin is much brutal because it was highly volatile and then we don't know what can come ahead, but I think if one will just be calm and continue HODL'ing his assets, he can always survive a crash.

If we are ready and we already have a Bitcoin, don't worry about the others if they didn't grasp it yet. We should only focus on our own because our own ability can dictate if we are going to be successful here or not (not the others). Accumulating Bitcoin can safeguard our money, as long as you won't do the wrong things.

[Huppercase]

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

I think you are just one the few that fall in the wrong side of financial investment, there are more people that have seen more than what you have experience in the past and there are more to happen, it might not be now but in the future, anything can happen because even the life you breath isn't guarantee for the next day, so trade everything you are doing carefully. If you ask people that fell for Luna collapse, they will tell you that they have seen the worse, there were multiple reports of some investors that even took their life after the collapse of their investments but here you are still strong and elegant.

I was watching some YouTube videos when Covid19 had so intense effect on the market and everyone were all predicting how everything in that point in time will wlbe worse than what we have seen in 2008 but all of them failed and you know why that happened? When covid19 crash the market, nobody see it coming and when the market was bouncing back, no market focaster was able to tell fully because they were all afraid. I believe your assertions are not different from those ones. If the market is going to crash, not even you will be able to tell.

[Silberman]

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

Just as this market moves in cycles, the same is true for the stock market as well, however people have a very short memory so even if many suffered during the 2008 crisis as soon as things got back to normal they forgot about everything that happened back then, however even those that suffered greatly act as if it could not happen again and get surprised when it does and then they lose everything again, so without a doubt a crisis is coming, we do not know when and how big it will be but we need to be prepared, and holding some bitcoin is a nice way to try to resist it.

[usekevin]

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

The market crash of 2008 had affected many countries because of the economical crash of United States.This was the one of the story,many people had loss the house during the 2008 and after a decade they start to recover from the economy.But unfortunately the Covid had come in 2020 and again affected the people who had was in huge economic depression.After the Covid effect now some people trying to get away the poor position in the society.We hope the upcoming bitcoin halves in 2024 will help those people.

[poodle63]

I don't think its similar, the big short was caused by shitty mortgages being betted around its completely different because these big institutions and banks have learned their mistakes and definitely have already
watched the cause of the big short in the past and analysis current economic condition based on that. considering the fact that I think the main reason economic was collapsing due to the subprime mortgage and borrowers having many loans at the same time.
I don't think this time around things like that will occur honestly, maybe im wrong but honestly current economic condition better than in the past.

[Porfirii]

I don't think its similar, the big short was caused by shitty mortgages being betted around its completely different because these big institutions and banks have learned their mistakes and definitely have already
watched the cause of the big short in the past and analysis current economic condition based on that. considering the fact that I think the main reason economic was collapsing due to the subprime mortgage and borrowers having many loans at the same time.
I don't think this time around things like that will occur honestly, maybe im wrong but honestly current economic condition better than in the past.

But it seems that people haven't learnt from the crash when many still spend over their possibilities, ask for student loans that won't be able to pay (some of them) and mortgages to buy expensive houses instead of buying cheaper ones and save for a better future. We live in a world where we want it all and we want it now (like the song).

And banks didn't learn too much either, because for many of them the lesson was cheap, when not for free.

[xSkylarx]

I've heard multiple times about speculation about the crash ever since but it hasn't happened yet so we should be glad for it but for sure in the future it will happen. Our feelings and instincts are almost the same. Your feelings right now are that you are scared or have a phobia about what will happen to you when the crash happens and you don't want to experience what you've experienced before that is why you are feeling it. The best thing to do right now is accumulate enough Bitcoin to prepare. This is like those people investing tons of money for a bomb shelter even though it ain't happening soon but still they are ready in case and we should as well do  in Bitcoin.

[Mauser]

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

Sorry to hear that you lost everything in 2008, hopefully your family managed to recover in the rebound. I am a huge fan of Michael Lewis and read the book and watched the movie. Listening to traders and their views it surprises me that not more people were finding out the huge mess the financial system was in. Having multiple homes and mortgages that you can't really afford and only relying on rising house prices to get out of your misery seems so wrong on multiple levels. Having now people doing the same scheme nationwide is going to lead to disaster. The issue back then was that many people knew about the problems, but nobody knew exactly when the bubble was going to burst. It was more profitable to ride the wave for a year or two in 2005, then to starting to bet against. Just look at Michael Burry, he was too early with his trades and lost a lot of money before the crisis hit. It's not enough to be right, we also need to be right at the correct time. While the economy is not doing great at the moment, I don't think we are heading to such bad times like in 2008. We don't have so many bad financial assets like the CDO madness from those times that were spread around the world

[The Sceptical Chymist]

people used to talk about the 87 crash a lot but nobody remembers it now so it is not famous anymore.

That was almost a flash crash, because the stock market recovered fairly quickly (though I can't remember what the economy in general was like afterward--but it was nowhere near as bad as what came after the events in The Big Short).  I'd also say that the '87 crash might not be "famous" with younger folks because they probably weren't even born yet, but I'm sure a lot of business execs and Wall Street people won't ever forget it.

Anyway, you guys do realize that the bull market in stocks that started when things began to recover back in 2009 or so is still going on now, right?  While I don't get the same vibe tread93 gets about the economy (or housing market), stocks just don't keep going up forever.  That's almost as reliable as any law you'll find in a physics textbook, and that's saying something for such a soft 'science' as economics.  So I'd say a crash is coming eventually, but I don't see anything that might precipitate it immediately.

Maybe Michael Burry knows what's up.

[adaseb]

Another thing that I just remembered from that movie is that they were all early to short the housing market. I remember there was a scene when they finally were into their short trade but the markets still kept going up. Every day they were going up. They were confused and upset. They called the markets being manipulated.

Then eventually it all came crashing down. It was easy to predict when it would happen. So even if the bubble will pop, it will be very difficult to predict the exact moment. Look at the Canadian housing bubble we got for like 2 decades pretty much.

[Porfirii]

In my opinion, what really happened to the OP can be explained by the theory of availability heuristics: the images about a financial crisis are so vivid after watching the movie that you think the probability of that happening is high.

So you can feel a hunch, by comparing both situations: the present one reminds me 2008. But this is the kind of intuition one should rethink. Remember "Exit all cryptomarkets!"? if you are right by chance you will be remembered as a genius, but it would be just luck, and most times you'll be wrong, so you'll make an ass of yourself, like the author of that claim.

[Kakmakr]

I get a even worst feeling, when I see what are happening on the military side. We know that when we are on the brink of an economical collapse, countries tend to go to war, to deflect the attention away from what is happening in the economy. (When it eventually collapse, they blame the war)

We have North Korea visiting Putin in Russia and we have the war in the Ukraine that are being funded by other nations... and we have the BRICS countries moving away from the "West".

There are wheels that are set in motion for a WWIII to happen.... and I think we are passed the stage, where this can be stopped.

[BitcoinTurk]

Could we be on the verge of some crazy market crashes like in 2008?

History always repeats itself and although it isn't exactly the same. All these scenes that repeat each other cause similar scenes to occur. The economic crisis experienced all over the world in 2008 caused many individuals to fall under a serious debt burden, businesses to stop their activities and the economic balance to deteriorate. Considering the economic conditions we're in today I think we're in a much worse economic crisis and the consequences will be worse.

Although today's economic conditions seem to be better compared to the 2008 crisis. When many data are examined in detail it will not be difficult to determine that we're actually in a much worse scenario. Individuals who constantly live their lives in debt, companies that are experiencing serious financial difficulties and whose profit margins are decreasing, living costs that are increasing day by day and the property sector that has reached a bubble status again actually indicate that a very bad economic crisis period has begun. Basic reasons such as higher debt amounts and unresolved inflation compared to the 2008 crisis will cause us to go through a much worse crisis period.

[Latviand]

I'm not that updated on what's happening on the housing market on the US but iirc in the movie, the cause of the collapse was because companies are accepting mortgages no matter how bad the credit is of the person that wants to buy the house because the real estate sellers gets the cash quickly so they just accept everyone with background checks. So I don't know how it can be the same because last time, I think the land price in the US is just going higher which is kind of the opposite in the movie.

[Jatiluhung]

I read a news story in March this year. And the content of the news is about a tweet from Robert Kiyosaki which says about the world economy being on the verge of collapse and he suggests people buy some kind of silver coin as a preparatory step. When I read the news, I immediately looked for more information. But to be honest, there is lots of other news that is almost similar. And I actually feel that the news media is starting to scare readers. So I decided not to read too much news at that time. And I would rather push myself to focus more on work and earn more money to make preparations for myself and my family.

Estimating the future sometimes only makes us panic. And it would be better to focus on work now and make more money. it's better to be prepared than just busy reading future predictions. Because an economic crisis could happen without us expecting it, like what happened when the Corona pandemic came suddenly. We don't know what will happen tomorrow. So don't worry about it. What we have to think about is the life we ​​are living right now. While making more thorough preparations calmly.

Sourch: https://internasional.kontan.co.id/news/robert-kiyosaki-ekonomi-dunia-di-ambang-kehancuran-beli-perak-sekarang?page=all

[Yamane_Keto]

Could we be on the verge of some crazy market crashes like in 2008?

The good thing about the economy is that we benefit from the past. It is true that we repeat the same mistakes, but the development of the economy and the return from the disaster is rapid and faster than what happened in 2008. Therefore, even if a disaster occurs, know to ignore all your investments (no matter their losses) and to wait an average of four years and things will return to normal. Trying to reduce losses by short selling or selling assets, regardless of the losses, is a mistake, and in all cases it is better to diversify your investment portfolio as long as you believe that the economy is in trouble or that something bad will happen.

[so98nn]

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

I hope you guys are on track now and doing better. The economic crash hits the normal peeps like me and you all the time. Our financial management starts breaking apart when we see prices soaring for daily mandatory things like food, electricity, gasoline, and a few others but not limited to them.

Some might say this is just a needle in a haystack but I say things start worsening at this point itself. Our interest rates are also revised during such high tension thus it becomes complicated whether to feed the family first or pay the EMI on time. If someone is from a developing country then they will know what are the consequences of living with missed EMIs, high price tags on regular vegetables, and much more.

So I feel you mate. It can only be recovered with great attention to savings that can make us survive during high times like these.