Quote:
Originally Posted by Enoch Root
To those arguing that 2008 was the worst economic shock since the depression, that is true - from the point of view of the stock markets and the amount of wealth that was destroyed.
However, in terms of unemployment (the metric that should matter the most to young people) it actually wasn't even close to prior recessions. In the early 80s, Canadian unemployment hit about 13%. In the early 90s, it hit 12%. In 09, it didn't reach 9%.
(And yes, in those prior recessions, unemployment hit youth the hardest then too - if I remember correctly, youth unemployment was well over 20% in 84)
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So are you then agreeing that economics leading up to today ("Baby Boomers" though that generalization places blame on a large majority of people that aren't even responsible) and the development of a debt-based economy with lobbying/corruption leaving the economy in a bad shape then?
I'm not really here to argue if 2008 is worse then the 80's .... I'm sure the 80's was bad .... but don't think for a second that the only worry for generation Y, Z, AA, et al is cell phones and fancy cars. And its not just 2008 either, I agree. A lot of people got hurt by the financial infrastructure.... and it doesn't just happen to any one generation. Don't get me wrong, I don't think 2008 was some sort of isolation or anything.... 2008 faces challenges, 80's they faced challenges, and in 201X? they will face the challenges as well.