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

[tread93]

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?

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[Don Pedro Dinero]

The feelings you have do not have to coincide with reality, and in fact, most of the time they do not. From 2013 until now, every now and then I hear that we are going to have another crisis like 2008, and there hasn't been one, there have been small crises and then there was the exceptional case of the coronavirus that caused a crisis that we got out of quickly thanks to mass printing, but so far, nothing remotely similar to 2008.

Could it happen again? Yes, but this already sounds like the wolf's tale to me.

The only advice I can give you is to manage your finances well and accumulate bitcoin, then the crisis will affect you less or you can even take advantage of it. There were a lot of people who got rich in 2008 because they were able to buy cheap. That's what rich people do.

[mindrust]

It always is. People were talking about the same stuff 40 years ago, way before “the big short”. The talk is always the same. The interest rates are too high, the interest rates are too low, the dollar is inflating, the dollar is deflating, the housing market is going to collapse, housing is doing great, recession is coming, inflation is coming…Nothing has changed since people invented the markets.

If you read a few old books about stocks, you will see that it wasn’t any different 30-40 years ago. Before 2008 and before 2002, people used to talk about the 87 crash a lot but nobody remembers it now so it is not famous anymore.

[dothebeats]

Market crashes can happen, especially now that there are a lot of things that are happening in the world, most especially in the field of international politics. And I do understand your worries as I have also given up some things due to the shifts in the market and my move to adapt to it (by sacrificing some things in order to ensure that I will financially survive). However, right now what we can do is to ensure that we have sources of income to depend on when things change and always be informed of what is happening (economically, socially, and politically) so we can be prepared to take an action and make decisions.

[sesterceshop]

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.

[Alpha Marine]

The feelings you have do not have to coincide with reality, and in fact, most of the time they do not. From 2013 until now, every now and then I hear that we are going to have another crisis like 2008, and there hasn't been one, there have been small crises and then there was the exceptional case of the coronavirus that caused a crisis that we got out of quickly thanks to mass printing, but so far, nothing remotely similar to 2008.

After the great depression that ended in 1939, it took 69 years before the financial crisis of 2008.
I'm saying this because, after the great depression, there are people who must have kept hammering it that another crisis was coming but no one listened, the same way no one is paying attention now. They went on making the same mistakes that were made before.
No one knows when it will happen, but if the financial system continues on this part it may be inevitable. The major difference is countries with big economies are looking for ways to minimize the effect when it happens, it's the third-world countries that'll suffer it the most.

The situation is worse in developing countries. Maybe their government has a way of gaslighting the situation of things on the ground but if you look deeper you'll see how poor people are and that poverty is spreading throughout the region. Only a few rich people keep getting richer. The middle class has almost been eliminated. Now, it's either you're rich or you're poor, there's no in-between.
The worst part is, that things can get worse than it already is.

[CageMabok]

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 will respond to your question which is located in the last sentence, namely about the market crash which you consider crazy. Actually, it is difficult to give a very precise answer to this, but if it is only about crashes, it seems that everyone will never find a market crash at the same level as 2008 in any market now and also for the future.

Because every year there are always changes in several sectors, so things that have changed can also influence the level of market collapse, although the level of recovery will not be easier to occur. However, believe me that a market crash at the same level that you have seen before will not happen in the near future, even if it does happen I think the level will also be very different from what happened in 2008.

[Helena Yu]

There's always a chance of economy crisis, usually this could happen every decade.

The last crisis was in 2019/2020, so there might be a crisis after 2029/2030, obviously this is just my guess and I will be more happy if it's not happen. As long as you hold Bitcoin, don't panic if economy crisis happen because no one will know how much your wealth and this can prevent the possibility someone can rob or steal your valuable thing.

[DeathAngel]

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

The possibility of a market crash is always there but it’s difficult to predict when or if it will happen. The 2008 financial crisis was caused by a combination of factors including the subprime mortgage crisis, the collapse of Lehman Brothers & the failure of other financial institutions. There are some similarities between the current economic climate and 2008, there are also big differences. The global economy has been affected by the COVID-19 pandemic & central banks have taken measures to mitigate the impact. Always keep an eye on market trends & be prepared for any eventuality.

[icalical]

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?

You know in the Big Short, Michael Burry not only just have a feeling or gut, he actually was reading the data about the mortgage balance sheet of 2003 and 2004, and he found it strange, that's how he correctly predicted the housing bubble burst in 2007. So, if you can elaborate more about your feeling, and maybe provide some data, then maybe we could have a real discussion here.

[michellee]

And we are really lucky because we already have Bitcoin, which can help us prepare for global situations that might happen at any time. A market crash like 2008 might happen again to reset what has happened so that the world's economic situation might improve.

And before that happens, we already have Bitcoin, which will probably be the only way out of that predicament. While everything is still fine, we should use this time to own more Bitcoin. Just anticipating bad things that might happen will not make us difficult, especially if it concerns our lives and our families.

And if you feel that the situation is very similar to what we have experienced, maybe it could happen at any time. Still, the situation now is different because we already have Bitcoin. We hope to survive difficult situations later and welcome a new life.

[Aanuoluwatofunmi]

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?

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.

[Gozie51]

In 2008, this alternative we have now have not arrived, bitcoin was launched around January 2009 and ever since then the popularity, usage, adaptation and adoption of bitcoin has grown. More people are embracing the financial freedom and hodling their money in bitcoin and transacting likewise, so how do you think the experience is the same thing or would be the same, no it won't. The economy is crashing and probably the wise investors are even innocently contributing to that with DCA and investment in cryptocurrency therefore taking out fiat in circulation. This is possible to also be a reason for such crash, meaning the preparedness is already their and the circumstances won't be the same and the result different also.

[pooya87]

Things feel the same and have been felling the same ever since 2008 because they never solved the actual problem that led to 2008 economic crisis, instead they just put a band-aid on it and swept the real problem under the rug where it could fester.

After the great depression that ended in 1939, it took 69 years before the financial crisis of 2008.

There have been a couple of other big financial crises between the Great Depression after 1939 and 2008, some of them were short but some were big like the 1970's and 1980's ones.
- Recession of 1945 (due to high spending by the end of WW2)
- Recession of 1949 that lasted a year (Truman's "Fair Deal" reforms)
- Recession of 1953 that lasted 11 months (aftermath of Korean War)
- Recession of 1970's (lasted 2+ years due to Arabs increasing oil price and sanctioning EU/US),
- Recession of 1980's starting near the end of 1979 started by Iranian revolution increasing oil price then the FED raising interest rates pushed US economy into recession which lasts to about 1982 (~2 years and 8 months)

[letteredhub]

Op your fears are justified haven had such bad experience personally but don't let it get hold of you. Thinking about it over and over will only be feeding your fears about the future. If there was going to be any market crash anytime soon it would have happened just immediately after the covid-19 pandemic that affected almost every sectors of human life particularly the economies of countries .

For your sake and that of your mental health cast your mind away from the thoughts of a market crash and focus such energy in organizing your financial plans by investing in profitable projects as your money can afford. 95% of the times, that which we fear never happens, it's rather the fear that kills us faster.

[m2017]

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?

We may as well be on the verge of another crazy market crash. Perhaps even one that humanity has not seen for a long time. I understand that you have difficult memories from 2008, but what happened then is far from the worst thing that can happen. Markets are cyclical and this has been known for a long time. So, there is a theory that approximately every 10 years there are falls in the market, and every 100 years, very, very strong falls. The last time this happened was during the Great American Depression. About 100 years have already passed and some people predict that this could happen again. Nothing is new in this world.

By the way, "big short" is a wonderful and entertaining film that helped me, who at that time still understood absolutely nothing about markets, take a little look behind the scenes of the world of securities. Perhaps will need to reconsider this.

[ZAINmalik75]

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 feel sorry that you have gone through a lot of bad times, and I am happy too that you didn't lose hope and stabilized yourself in the hard times. Please tell me, OP, that hard times are the times when someone learns something most important, and in your own words, you said that's why you are so optimistic about BTC. Because you knew how it could save you from the situations that occurred in 2008. But why are you so skeptical about the current market situation? Why do you think another market crash is coming?

The days of bankruptcy were 2 to 3 months ago. Even though I have not seen any new recessions,  why are you thinking that something is brewing, and why do you think the market will come back to the same condition as it was in 2008? I said it because, back in 2008, there was no BTC to back ourselves up, but now we have the facility of BTC where we can store our money to save its value, but of course, we cannot save our houses.

[kryptqnick]

I was pretty young when the 2008 crisis happened, and while it was noticeable in my country, much worse economic changes came several years later for unrelated reasons that kind of overshadowed that period, and since the crisis heavily affected the mortgages and those are not popular in my country at all, I guess the main effects just weren't as harsh.
I've seen the film a couple of times, and I love how it portrays the atmosphere and how it slowly spirals down that dangerous road. And I've had a time when I felt like we were going in that direction, but I just don't think so anymore. What I do think is that 2020s have been very unpredictable and stressful so far, and unfortunately, I think this trend will continue.

[Spaceman1000$]

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?

Whatever fears your afraid of is has happened already due the effect of COVID-19 across the globe. The magnitude might not the same with what you've experienced but trust me the market reality isn't funny.

Though let's be optimistic about our thoughts because we wouldn't wish for an ugly experience again. Bitcoin will always come up better and stronger. I no your having a feeling but don't let it get to you too much.

[teosanru]

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 everyone is having these sort of thoughts that something is brewing around and something crazy might happen but trust me the craziest things happen when the markets are quite calm and infact going up with a positive sentiment because it's at that time that you can take up a lot of people in your traps while they might be thinking that market will go up from here.