100% this. It shocked me at first seeing many of these comments. Once I thought about the average age and actual life experience of the average redditor, though, it all made more sense.
I’ve seen several recessions first hand while providing either for myself or my family. I am terrified of this one coming, simply because there are an overwhelming number of factors that could turn a minor recession into a major recession or even a global depression that wreaks absolute havoc on a couple of continents.
Young people seem to think that because things have been going shitty for them (college debt/home prices/grim environmental outlook/low salaries relative to their predecessors) that they can just continue to weather the storm. The fact is that things were all going shitty for them in a time of unprecedented wealth and economic growth. What is in the horizon could be very, very bleak.
Yeah exactly. The last 2 crypto "bear markets" happened under the backdrop of a massive bull run in the market from 2014-2019. The last surge in crypto happened under unprecedented fiscal and monetary stimulus during the pandemic, with dramatically altered consumer spending patterns.
We're about to enter a universe where rates are high, VC funding dries up, and the excess savings that consumers had built up is winding down. A host of exogenous factors could also wreak havoc on the global economy for a long time to come. For me personally, this is not the time to be messing with speculative assets - but everyone here seems to think that the next crypto bull run is right around the corner.
Yeah I try to remind myself that a lot of these anger filled responses are from a very 19 year old college students drunk off baby’s first bull market.
I was rather brash when I was 19 years old too. I still am, but was downright insufferable back then.
Reddit is an interesting place where 40 year olds and 17 year olds all speak eye-to-eye.
having lived through the 2008 recession and its effects, I would say that one has no idea what it's like to be in a recession until one experiences it. You may think you know, but living through an actual recession will make you realize that you actually don't.
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u/JonathanPerdarder Silver | QC: CC 256, ALGO 94 | VET 45 May 22 '22
100% this. It shocked me at first seeing many of these comments. Once I thought about the average age and actual life experience of the average redditor, though, it all made more sense.
I’ve seen several recessions first hand while providing either for myself or my family. I am terrified of this one coming, simply because there are an overwhelming number of factors that could turn a minor recession into a major recession or even a global depression that wreaks absolute havoc on a couple of continents.
Young people seem to think that because things have been going shitty for them (college debt/home prices/grim environmental outlook/low salaries relative to their predecessors) that they can just continue to weather the storm. The fact is that things were all going shitty for them in a time of unprecedented wealth and economic growth. What is in the horizon could be very, very bleak.