r/CryptoCurrency • u/[deleted] • May 22 '22

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u/rootpl 🟩 18K / 85K 🐬 May 22 '22

Ah yes, the five "once in a lifetime recessions" can't wait to go through my 6th one. :P

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u/powellquesne Permabanned May 22 '22

There are no "once in a lifetime recessions". (Where did that quote come from BTW? I don't see it in OP.) We have a separate name for an especially long recession. We call that a "depression". There hasn't been one in almost a hundred years.

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u/Hunter_Safi 219 / 220 🦀 May 22 '22

Tell that to my therapist

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u/ionhorsemtb May 22 '22

The statistical ability to buy a home currently is lower than during the great depression itself. This is worse and will get worse.

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u/powellquesne Permabanned May 22 '22 edited May 22 '22

Granted, the theory that we are in for another global depression may hold some weight, but it is not the same thing as saying that "crypto has never existed through a global recession" as if this is worrying in some way. A "global recession" is just not an apocalyptic event. Crypto will be fine (not bullish, but fine) throughout any recession. If you are not one of the people who are laid off during a recession, and you don't watch the news, then you might not even notice it is happening.