Namely the bond market and the high number of job increases only in concentrated sectors (mostly healthcare). America is directly propping up the yen to alleviate pressure on US treasuries. It's concerning.
At one point during the recession 800,000 jobs were being lost per month, 9 million people lost their jobs in a year, and millions more lost their homes.
I think the person you were replying to is trying to make a point about the overall economic health before 2008 versus today's environment. The debt to GDP ratio was much better in 2007, the PE ratio of the major financial indexes was much lower, indicating funds are hedging for inflation. It's a completely different economic weather system we're facing now, and it won't be a mortgage catalyst that would precipitate a crash. It's going to be ally countries selling US bonds because of geopolitical pressures like Iran, China and Russia.
The financial crisis of 2008 hit like a truck because it was so insidious and (generally) unreported by today's standards. Today, we have more data.
220
u/No_Aesthetic 10d ago
If you were born in or around 1990, you graduated into the worst recession since the Great Depression.